UK technology company commercialising hydrogen production from waste plastic, Powerhouse Energy (PHE) announced that it is has entered into a binding agreement with Hydrogen Utopia International PLC under which HUI has been granted an exclusive non-transferable licence for the application of Powerhouse’s DMG® technology in Poland, Greece and Hungary.
By Zak Mir
HUI’s corporate mission is to create a project pipeline for Powerhouse’s DMG® technology in these regions through seeking funding from and partnering with states, regional authorities and the private sector in targeted regions to facilitate the deployment of DMG® technology.
In a rather extended update, rivalling “War and Peace”, Hurricane Energy (HUR) announced a $230m bond offering and a company update. It said, that Lancaster was producing 11,100 bopd from the P6 well alone with an associated water cut of 31%. The company added that has been engaging in positive negotiations with Bluewater regarding an extension to the charter of the Aoka Mizu FPSO beyond the current termination date of 4 June 2022, and Hurricane and its joint venture partner, Spirit Energy, has a regulatory obligation to commence drilling of a commitment well on the Lincoln field by 30 June 2022. Perhaps surprisingly, after such a magnum opus RNS, there were no explanatory words of wisdom from the management.
Mining royalty and streaming company, Trident (TRR) said that it has entered into a binding agreement with Seduli Sutter Operations Corporation to acquire a Net Smelter Return production from the Lincoln Gold Mine in California, USA. Seduli intends to utilise the royalty sale proceeds to finalise the restart of Stage 1 production at the Lincoln underground gold mine. Independent provider of training programmes for software coding, Northcoders (CODE) delivered its maiden trading update following its admission to AIM in July. The company said consumer demand for its core Bootcamp courses is growing strongly, as applications reach 162% of that experienced in the full year in 2019.
Sometimes it appears that investors prefer holes in the ground with or without anything in them, rather than fully fledged and funded projects. IronRidge Resources Limited (IRR) said that Piedmont Lithium is set to fully fund and fast track the company’s Ewoyaa Lithium Project through to production for $102m.
Pharmaceutical company currently focused on sexual health and pain, Futura Medical (FUM) said that it has entered into a licensing agreement with m8 Pharmaceuticals, a specialty biopharmaceutical company focused on commercialisation in Latin America, for the rights to exclusively develop and commercialise the company’s topical, gel-based Erectile Dysfunction treatment MED3000, in Brazil and Mexico. Futura is set to receive payments on all sales of MED3000 from m8 and is also eligible to receive up to $8.5 million in milestone payments based on deliverable sales volumes, including a small initial upfront payment.
After a degree of disappointment in the market regarding the termination of talks with Sprift Technologies in July, Immedia (IME), a supplier of multi-media content and digital solutions announced its unaudited Half-year results for the six months ended 30 June 2021. The company said that having “re-engineered” the business, prospects for HY2 2021 are favourable, and the company is well placed to capitalise on increased market demand and make a sustained return to profitability.
Orosur Mining (OMI) announced its audited results for the fiscal year ended May 31, 2021. The company said that during the period it had continued its focus on developing the potential at Anza and continuing the orderly closure of its historical operations in Uruguay in accordance with the court agreed settlement process. Work on both facets of the corporate strategy is progressing well and the capital raising in November 2020 has provided sufficient balance sheet strength to continue progress. Orosur said it has also been examining new business opportunities in South America and, on July 7th, 2021, it announced that it had entered into a non-binding Letter of Intent in order to establish a joint venture on a tin project in Rhondonia state in Brazil.
Biotechnology company developing targeted clinical diagnostic tests for immune health utilizing its EpiSwitch® 3D genomics technology, Oxford Biodynamics (OBD), announced that it has been awarded an FNIH Partnership for Accelerating Cancer Therapies Grant to use the EpiSwitch diagnostic platform for accurate prediction of a patient’s response to Immune Checkpoint Inhibitors from a routine blood sample. The company said that the recognition of the EpiSwitch® platform by the consortium of US federal agencies and top pharmaceutical stakeholders marks another significant validation of OBD’s ability via 3D genomics technology to address the clinical challenges of personalized medicine, cancer treatment and immune health.
Oil and gas exploration company Eco (Atlantic) Oil & Gas Ltd (ECO) with licences in the oil province of Guyana and basins of Namibia, said that the Sapote-1 well on the Canje Block, offshore Guyana has been spudded. Eco holds an indirect interest in the Canje Block as a result of its transaction to acquire up to 10% interest in JHI, and JHI is fully funded for the ongoing program on the Canje Block, including for the Sapote-1 well and any additional potential wells considered for this year.
Moroccan focused upstream gas company, Sound Energy (SOU) announced the completion of the Company’s acquisition, of Schlumberger Silk Route Services Limited. SSRS holds a 27.5% participating interest in the Anoual and Greater Tendrara exploration permits in Eastern Morocco. together with a 27.5% indirect interest in the Tendrara Concession through its contractual relationship with the Group. Sound Energy now controls operated working interests of 75% in the Exploration Permits and in the Concession. Sound Energy said it is now moving inexorably forward to the Final Investment Decision for its Micro LNG project.
Base metal explorer Castillo Copper (CCZ) focused on copper across Australia and Zambia, revealed that multiple targets for test-drilling have been identified at the Luanshya Project in Zambia’s copper-belt, following the completion of eight Induced Polarisation survey lines. The company its exploration efforts at the Luanshya Project are bearing fruit, and its goal is to commence the inaugural drilling campaign during the fourth quarter.
After finessing its current activities in Pakistan with regard to its flagship Thar Project via an interview last week, Oracle Power (ORCP), the international natural resources project developer, said that further highly positive geochemical sampling results have defined five drill target areas at its 100% owned Jundee East Gold Project, located in the Eastern Goldfields region of Western Australia. The company said that its technical team is designing a drill programme and it will commence drilling as soon as we have an approved programme of work and can then confirm rig availability.
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