Trader’s Cafe with Zak Mir: GGP, TGR, UJO, ORPH, N4P, PXEN, ARS & MHC via Vox Markets

Gold-copper exploration company Greatland Gold (GGP) appears to be back the spotlight as it announces drilling has commenced at its Scallywag licence, in the Paterson province of Western Australia.

By Zak Mir

GGP has commenced testing multiple new targets at Scallywag following analysis of results of a Heliborne Electromagnetic survey conducted last year and further geological interpretation of regional aeromagnetic and gravity datasets. Exploration work at Scallywag is focussed on the discovery of large-scale intrusion related gold-copper deposits such as Havieron, Telfer and Winu.

Specialist graphite producer and advanced materials developer Tirupati Graphite (TGR) wishes to announce that its audited results for the year ended 31 March 2021 are expected to be published on or before 17 September 2021. In the year to the end of March the company’s 3,000 tpa Sahamamy facility was in production and its first 9,000 tpa facility at Vatomina was under construction. The company said it remains on track to deliver production capacity in Madagascar up to 12,000 tpa in the immediate term and up to 30,000 tpa in the next financial year.

Onshore UK hydrocarbon production company Union Jack Oil and Gas (UJO) updated on its 40% owned Wressle-1 Well. Initial well test measured flow rates, under a restricted choke, have exceeded 500 barrels of oil per day which was the forecast rate following the proppant squeeze operation. The Wressle-1 well is continuing to clean up and has not yet reached its optimum potential.

Fast growing specialist contract research and human challenge clinical trials group Open Orphan (ORPH), said that its hVIVO subsidiary has signed an £8.1m contract with a major global pharmaceutical company to test its inhaled human rhinovirus antiviral product using the hVIVO Asthma Human Challenge Study Model, which uses a hRV challenge agent (common cold virus). The antiviral study will be conducted by hVIVO and is expected to commence in H1 2022. The company expects the bulk of the revenue from this contract to be recognised across 2021 and 2022. Cathal Friel, Executive Chairman of Open Orphan (ORPH) said that the contract demonstrates how its broad range of challenge study models can support clients’ varied infectious and respiratory disease product pipelines.

Specialist pharmaceutical company N4 Pharma (N4P) developing Nuvec®, provided an update on its current work streams. The company said it has been able to successfully load and well disperse Nuvec® with the proprietary products at different doses. This will allow the testing of a wide range of options with the MTA partners and each company is now undertaking its own tests with Nuvec® and their respective products.

The intrigue continues at Prospex Energy (PXEN), with the latest twist being that the company has received a letter from Jarvis Investment Management Limited validly requisitioning a general meeting of the Company’s shareholders. The Requisition contains no less than ten resolutions including changes to the board, with the date of the GM to be no later than September 9.

Asiamet Resources (ARS) presented its unaudited financial statements for the 6 months ended 30 June 2021. ARS said value enhancement activities for the BKM Project continued to evaluate the potential for a concentrate – tank leach processing option (vs heap leach processing) and prepare for drilling to expand resources and mine life. Once complete the company will update the project economics and progress a preferred processing option to development.

Consumer home-testing healthcare company MyHealthChecked (MHC) said it welcomes the announcement yesterday from the Department of Health and Social Care that private COVID-19 testing companies will be removed from the GOV.UK list if they advertise misleading prices. MHC said it has always been clear on pricing, with tens of thousands of satisfied customers as a result of its service.

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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