There was light emanating from what has been a rather long tunnel in terms of the milestones for Russia focused exploration and resource development company, Amur Minerals (AMC).
By Zak Mir
It said that Oreall has completed the Permanent Conditions Report (TEO) on its far east Russia Kun-Manie nickel copper sulfide project. Oreall’s analysis and documentation is complete and is now undergoing the mandatory review process by the Russian Government Commission for Natural Resources. This review will establish the reserves available for open pit mining at its “Detailed Exploration and Mining Production” licence (BLG 15883 TE). Subsequent approval, the reserves will be utilised to establish the Russian approved mine plan for Kun-Manie.
Xtract Resources (XTR) served up another update on it Phase Two diamond drilling programme, with the completion of the fifth and the sixth holes at the Bushranger copper-gold porphyry exploration project in New South Wales. The company said the fifth and sixth angled holes of the Phase Two programme have been completed, further confirming the occurrence of wide zones of mineralisation at the Racecourse exploration target. Colin Bird, Xtract’s Executive Chairman said both the holes were within the conceptual pit shell and as such continue to confirm the prognosis for the potential for an expanding large open pit. The first assay results are due in mid-September.
One of the golden rules of the tech and biotech space is that like for like, if UK companies happened to be listed on the U.S. market you could normally add a zero to the market cap. This is in addition to much greater liquidity. Such an observation may have been the rather obvious driver for the latest announcement from Tiziana Life Sciences (TILS), which one day last summer saw its U.S. equivalent listing rub shoulders with Microsoft and Tesla in terms of trading volume. The company said that following a review it has been concluded that shareholders are best served by a direct listing on NASDAQ. Given this intention, the Board concluded that England was not the most appropriate domicile for the parent company of the Tiziana Group because it is not possible to directly list shares of English companies on NASDAQ.
We perhaps found out to end the week, why there was a decent share price rebound for Asiamet Resources (ARS) in recent sessions. Asiamet confirmed that Aeturnum Energy is out of the stock – drawing a line under last year’s shenanigans regarding deal making. As well as this, Asiamet delivered an update regarding its BKM copper development project and the Kalimantan Suraya Kencana Contract of Work located in Central Kalimantan, Indonesia. Asiamet said it was happy with the progress being made on its development path for the BKM copper project. To this end drilling is underway to expand the BKM and BKZ Resources and is expected to demonstrate the potential for significant production growth and mine life upside at this important time for project financing and partner discussions.
It would appear that in a relatively short space of time psychedelic healthcare group Oscillate (MUSH) has become something of a favourite amongst the stock market cognoscenti. Indeed, with the latest news from the company as it completes a Pre-IPO Investment into Psych Capital Limited, Oscillate looks to have gone into full Sgt Pepper mode. This has taken the form of a 10.4% pre-IPO stake acquired in Psych Capital Limited for £300,000, which is set to become one of the first UK quoted psychedelic entities. Oscillate said that this is the first step in its plan to position the company as a major force in the European psychedelic marketplace.
Nanotechnology specialist Remote Monitored Systems (RMS) is not only weathering the slings and arrows of those who may be cynical of its business model, and curiously downbeat RNS’s, it is also flying the flag for Great Britain. RMS acknowledged the latest press release from the British High Commission regarding its Anglo-Indian partnership to distribute its MHRA approved Pro-Larva mask in India. Whatever the flow of the pandemic, this is at least in theory not a small market. Pharm 2 Farm Limited, a subsidiary of nanosynth group plc, and India’s VKE Enterprises are set to distribute the British MHRA approved Pro-Larva mask which is proven to kill Covid-19 and Influenza viruses, using unique patented nano-technology developed at Nottingham Trent University.
MENA-focused oil and gas company, SDX Energy (SDX) announced its unaudited financial and operating results for the three and six months ended 30 June 2021. The company said first half 2021 results have shown strong growth in revenue and operating cash flows versus the same period in 2020, as well as ending the period with a strong liquidity position. It added that producing assets in Egypt and Morocco are performing well and the company remains above its mid-point guidance for the year. SDX was also able to boast drilling activities that have yielded three successful wells in Morocco, all of which are now onstream and contributing to cash flow, and one at South Disouq, which is due to start up shortly. Despite the Hanut-1X well being disappointing, SDX is positive about the remaining prospectivity in the area.
Although somewhat put upon currently by the bears, crypto-miner Argo Blockchain (ARB) seemed determined to show it is forging ahead via its latest announcement. It said it has filed a registration statement on Form F-1 with the SEC relating to a proposed initial public offering of its ADR’s in the U.S. Argo intends to list its ordinary shares on the Nasdaq Global Market under the symbol “ARBK”. Upon completion of the proposed offering, Argo’s ordinary shares will continue to be admitted to the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange under the symbol “ARB”.
It was time for Coinsilium (COIN), the blockchain, and open finance venture builder, to get out its chequebook in a material way. The company announced that it has signed a letter of intent with Greengage Global Holding Ltd to enable Seedcoin, Coinsilium’s Gibraltar registered subsidiary, to buy up to 15,000 shares in Greengage at £20 per share and subscribe for up to £200,000 of convertible loan notes. Seedcoin will eventually pay up to £300,000 for the A Shares and £200,000 for the Loan Notes, adding up to a decent new position in DeFi for COIN.
Aquis listed wellness platform Yooma Wellness (YOOM) said it has completed the acquisition of Birmingham-based Vitality CBD Limited, a UK CBD company, for up to £10.2 million. Yooma said the acquisition adds a significant source of recurring revenue to Yooma and its subsidiaries, through Vitality’s presence at mainstream retail outlets such as Boots, Tesco, Asda and Lloyds Pharmacy, as well as expanding the Group’s target customer base and distribution network for its existing European-focused brands, including the MYO plant nutrition platform. Clearly, High Street exposure / distribution is a big plus in the deal.
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