RNS’s responding to press speculation are normally positive, especially when the publication in question is the Mail On Sunday. This is what waste to energy group Powerhouse Energy (PHE) was grappling with to start the week.
By Zak Mir
The company said it has noted the comments in the UK press at the weekend in relation to a potential agreement between DMG® licensee Hydrogen Utopia International and Linde. Linde has finalised a technical feasibility evaluation to deploy the syngas clean-up and hydrogen extraction of Powerhouse Energy DMG® technology. HUI and Linde are in discussions to enter into an agreement to develop a plant in Konin, Poland which would use Powerhouse’s technology. The last time German engineering giant Linde was in focus with a UK hydrogen company in 2019 – ITM Power (ITM), the shares more than tripled achieved a £1bn plus valuation. The key here with Powerhouse is that a company of the pedigree of Linde has validated PHE’s technology.
Also getting an honourable mention in the financial press was Open Orphan (ORPH) as the clinical research group was up in lights in the Wall Street Journal. The article noted that “only the U.K. has pushed ahead with Covid-19 challenge trials, deliberately infecting volunteers to study a new, sometimes-deadly disease that still harbors many unknowns.” Open Orphan’s subsidiary hVIVO is working with researchers from Oxford University and Imperial College in the programme.
Rising stock market star Tirupati Graphite (TGR) advised that it has completed the installation and commissioning of its first 9,000 tpa flake graphite module at its Vatomina Project in Madagascar. The company said this marks the latest in a series of investments to increase production of high-quality graphite from its projects in Madagascar to support world demand and continue the expansion of our production capacity up to 84,000 tpa by 2024.
Wishbone Gold (WSBN) served up a “milestone agreement” signing a Land Access Agreement with the Western Desert Lands Aboriginal Corporation acting on behalf of the Martu People. Wishbone has a group of properties in the Patterson Ranges area: the Red Setter project located 13 km south-west of Newcrest Mining’s Telfer Gold-Copper mine, two smaller tenements to the east of Red Setter and the Cottesloe Project, located 55 km south-west of the Telfer Gold Mine and about 35 km south-east of Red Setter.
Independent oil and gas company focused on Nigeria, delivered an update regarding its loan to Midwestern Leon Petroleum Limited. San Leon (SLE) said its discussions and considerations regarding the Potential Transaction remain ongoing, although there continues to be no certainty that the Potential Transaction will proceed. While the Conditional Payment Waiver has now expired. However, San Leon is in discussions to extend the Conditional Payment Waiver in relation to the MLPL Loan Notes.
United Oil and Gas (UOG), where the shares continue to be stubbornly underperforming, issued an operations update ahead of its half year results on 28 September 2021. The company said that the Abu Sennan licence has performed exceptionally. While the increase in water cut at ASH-2 and the resulting impact on its production guidance is disappointing, it will continue to work with the JV partners to identify and implement the best long-term solution. United is adding a further well to its 2021 drilling program, in addition to the already drilling ASX-1X exploration well. CEO Brian Larkin added, “The continued investment in the Abu Sennan licence by the JV partners speaks to the potential which exists within the concession.”
It is just a few more days for Vela (VELA) shareholders to wait for a key result. The company said that further to last month’s announcement which noted that the ARCADIA clinical team would publish a report on the results of the clinical trial to test SGS002 on 6 September 2021, the Board of Vela has been informed by St George Street Capital Limited that it now intends to publish the results of the trial no later than 10 September 2021. The Asset is a drug that could be beneficial to diabetic patients suffering from COVID-19 and SGSC is working closely with Excalibur Medicines Limited on the research project.
Gold exploration company focused on the Wudinna Gold Project in South Australia, Cobra Resources (COBR) updated regarding its 2021 work programme which is running according to schedule. The company said that engaging a highly experienced drilling contractor such as Bullion Drilling within the current competitive market is an excellent result. Bullion Drilling’s track record gives Cobra the confidence that it can deliver results on its priority targets safely, timely and cost effectively.
Medical diagnostics company Omega Diagnostics (ODX) said that all of the supporting data and documentation relating to its submission for CE marking for self-test use for the VISITECT® COVID-19 antigen test have been filed with its European Notified Body. The submission process has been running in parallel with the Useability Study conducted by Ulster University since mid-July and the conclusion of the Ulster study was the final step in this process. The test is already CE marked for professional-use and once approved would allow the test to be sold in Europe for home-use as well. It will be interesting to see whether this development will take the stock through recent 60p highs.
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