Copper-gold exploration and development company, Bezant Resources (BZT) said it has entered into a conditional agreement with IDM Mankayan Pty Ltd to take the Mankayan Project in the Philippines forward.
By Zak Mir
IDM will acquire 100% ownership of Asean Copper Investments Ltd which holds its interest in the Mankayan project through the Asean Copper Ownership Structure and which was the subject of the previous MMIH Transaction Agreement. Bezant will own 27.5% of IDM with the remaining 72.5% owned by established investors in the mining sector. In April the company ended its transaction with Mining and Minerals Industries Holding Pte with relation to the Mankayan project.
It would appear that after coming to market in July, infectious diseases pharma company Poolbeg (POLB) is keen to spread its message and press the flesh. The company has announced it will attend a series of investor events over the course of this month and October, and says it is keen to showcase its Phase II ready lead asset (POLB 001) which tackles the inflammatory response to severe influenza.
Online threat hunter, Brandshield Systems (BRSD) announced its results for the six months ended 30 June 2021. Annual Recurring Revenue was at $3.89m, up 65% compared to June 2020 (June 2020: $2.35m), and up 18% vs. December 2020 (December 2020: $3.28m). The company increased customers in the period by 23 to 100 customers, with growth continued to 108 customers by end of August 2021. Brandshield said that sustained traction for its products has continued into the second half of 2021 as its focus on the top line and customer conversion comes into fruition. For one of its customers Pollogen, Brandshield said it has been able to remove 92% of IP-infringing listings and counterfeit products from the internet, within the first month.
Ultra-premium beverages group East Imperial (EISB), who some are looking to as a new Fevertree (FEVR), delivered its first update on trading since becoming a business listed on the Main Market of the London Stock Exchange on 19 July 2021. The company said it has seen strong growth throughout this year with revenues up 60% during the first half compared with the comparable period last year. This has been driven by a combination of higher sales in venues, as well as additional supply agreements with the likes of Woolworths, Foodstuffs and Dan Murphy’s.
It is usually the case that there is nothing like an agreement with an industry colossus to put a small cap on the map. This may prove to be the case as far as data-driven commerce group Bango (BGO), as it signed a platform agreement with US telecommunications giant Verizon (NYSE: VZ) to power its third-party services. Interestingly, and perhaps rather modestly, there was no Bango management statement regarding the agreement in the RNS.
Cloud native video editing platform Blackbird (BIRD), announced its interim results for the six months ended 30 June 2021. The company said it had delivered record revenues for the six-month period of £867k, up 21% year on year. It revealed that it had made strong progress in the period against its sales strategy both in OEM: signing partnerships with EVS and LiveU and expanding its deal with TownNews; and Direct: closing deals with, amongst others, Cheddar News, ODK Media and BT. What may be pivotal going forward though, is that Blackbird signed its first ‘Powered by Blackbird’ licensing contract for the core video technology post period.
There was progress at pharmaceutical development company Nuformix (NFX) as it said that it has signed an exclusive global licensing agreement with Oxilio Ltd for NXP001, a proprietary new form of aprepitant for oncology indications. Under the terms of the licensing agreement, Oxilio has obtained an exclusive licence to research, develop and commercialise NXP001 globally for oncology indications.
Vanadium producer and developer Ferro-Alloy Resources (FAR), said it has received a Kazakhstan patent for the efficient technology which it has developed to produce electrolyte for vanadium flow batteries directly from ammonium metavanadate. The Company has also signed an agreement with Fraunhofer Institute for Chemical Technology, for testing of the company’s electrolyte for battery purposes. Samples have been shipped and work is expected to commence on 15 September 2021.
There was a decent thumbs up for Horizonte Minerals (HZM), as the nickel company focused on Brazil said that it has received formal credit and board approval from two export credit agencies for $146.2 million of the senior secured project finance facilityto part fund construction and development of its flagship Araguaia ferro-nickel project.
European based bio-pharma company, MGC Pharma (MXC) said that CannEpil+, a phytocannabinoid treatment for Refractory Epilepsy, has been approved for UK import by the MHRA, facilitated by its UK distribution and clinical access Partner, Elite Pharmaco. As part of this process, CannEpil+ has been approved for prescription for patients in the UK. This is the first time that the UK authorities have approved an Epilepsy treatment that is on a clinical pathway (Phase IIB) containing THC. Shares of MXC have rebounded from lows near 2p in July, after initially spiking to 9p post IPO.
There was a bumper update from Water Intelligence (WATR), the leak detection and remediation solutions for both potable and non-potable water, as it provide its unaudited Interim Results for the period ending 30 June 2021. During 1H 2021, revenue grew by 44% to $24.7 million (1H 2020: $17.1 million) and statutory profit before tax rose by 92% to $3.8 million (1H 2020: $2.0 million). Profit before tax adjusted for non-cash expenses of amortization and share-based payments increased 77% to $4.2 million (1H 2020: $2.4 million). EBITDA grew 75% to $5.6 million during the period (1H 2020: $3.2 million).
Drug discovery and development company Redx Pharma (REDX) announced that data from the Company’s RXC004 Phase 1 monotherapy study will be presented at the forthcoming European Society for Medical Oncology (ESMO) Congress, 16-21 September 2021. RXC004 is the Company’s lead drug candidate and is a potent, orally active porcupine inhibitor being developed as a targeted therapy for Wnt-ligand driven cancer. Shares of Redx have rallied from 54p to over 90p so far this month.
Tech investor All Active Asset Capital (AAA) perhaps decided that discretion is the better part of valour, after its target Audioboom (BOOM, rejected its advances. The company said it was still scratching its head regarding the response, given that BOOM had previously failed to find a buyer last year after a formal sales process.
Cyprus focused exploration and resource development company Caerus Mineral Resources (CMRS), announced the results from due diligence scout drilling on the recently acquired Pano Lefkara Licence, located in the Republic of Cyprus. Caerus has completed successful due diligence scout drilling over the Pano Lefkara Licence, aimed at confirming the results derived from historic exploration and drilling ahead of commencing a more detailed programme of work.
AIM-quoted exploration company focussed on West Africa, Oriole Resources (ORR) said that a Phase 2 diamond drilling programme will shortly commence at its 90%-owned Bibemi gold project in Cameroon. The planned 1,650 metre programme will target a c.1 kilometre strike length at the southern end of the Bakassi Zone 1 prospect, where maiden drilling earlier this year returned best intersections of 2.45m grading 2.96 grammes per tonne gold, 3.60m grading 1.75 g/t Au and 12.40m grading 0.71 g/t Au.
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