At a time when many market participants were either heading for pubs / bars or queuing for petrol, or a mix of both, PGM and gold producing company Eurasia Mining (EUA.L) delivered an update. This was with regard to the completion of the $15m financing for the Rosgeo JV.
By Zak Mir
Russia focused group, who can partly thank the maniacal attitudes of presumably somewhat impoverished bears, for a market cap that reached £1bn. The cash balance of Eurasia now is about $35m with no debt, and the financial position of the company is sufficient to accomplish its commitments in relation to Rosgeo JV, where a JORC resource by Wardell Armstrong is to be “announced shortly.” Given that JORC is the “gold standard” of the mining world, it will be interesting to see how the naysayers react when this data is released.
A little press coverage always helps a stock market newbie, with this weekend seeing the appearance of GreenRoc Mining Plc (GROC.L) which is to debut on AIM on Tuesday, raising about £5million and value the new company at about £11million. The Mail on Sunday has thrown in the Royal gold jewellery angle as far as the Alba Mineral Resources (ALBA) offshoot, to spice up the GreenRoc story, Although the glitter here is really the massive potential of mining in Greenland, rather than the ring on Megan Markle’s finger when she got married. In particular, graphite production and the EV market could set the stage for a solid future at GreenRoc.
Another company that seems to like delivering updates at random times of the day is biotechnology specialist Tiziana (TILS). At 5.49 pm it delivered its Interim Results for the Six Months Ended 30 June 2021. Early this month Tiziana and Precision Biosciences announced an exclusive license agreement to explore Tiziana’s foralumab as an agent to induce tolerance of allogeneic CAR T cells to potentially improve the clinical outcome of CAR T cell therapy. In addition, Tiziana has formally commenced its strategic plan to change its corporate structure by establishing Tiziana Life Sciences Ltd, a Bermuda-incorporated company, as the ultimate parent company of the Tiziano Group. The reorganisation will be achieved by a scheme of arrangement.
Director share buying, otherwise known as having skin in the game, is normally something that investors appreciate, if only on the basis that it shows management is aligned to shareholders. This was demonstrated by Ms Naheed Memon, CEO of Oracle (ORCP.L), as she acquired the entire share capital of Nazario Consultancy Limited, for £55,364. Nazario only contained shares of ORCP. Memon has effectively paid 0.31p a share and now has 3.63 per cent. of the issued share capital of the company. Oracle has recently been moving to accelerate its mining campaign in Australia, to add to its Thar Project in Pakistan. Shares of Oracle jumped nearly 10% on the CEO share purchase.
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