Premier African Minerals (PREM) updated on progress at its Zulu Lithium and Tantalum project in Zimbabwe where drilling has commenced with 1,000 meters completed.
By Zak Mir
Two rigs drilling to date have been focused on step out zones intended to increase the Mineral Resource estimate. Six Diamond holes have been completed to date with planned 20,000 meters of diamond core drilling including sample collection for test work.
A CSO these days can be key to the fortunes of any company in the biotechnology space. We were reminded of this point with the latest announcement from clinical stage biopharmaceutical company, Avacta Group (AVCT). It confirmed the appointment of Dr Fiona McLaughlin as Chief Scientific Officer of its Therapeutics Division effective immediately. Dr McLaughlin has 25 years’ experience in research and translational drug development in the pharmaceutical and biotech sectors.
Wishbone Gold (WSBN) updated on its Cottesloe and Red Setter Projects. The Cottesloe Project tenement E45/4543 term has been extended by the Western Australian Government by 5 years to 30/06/2026. The company said that previously unpublished data has fully justified its optimism in Cottesloe, which lies between the Nifty Copper Mine to the north and the Maroochydore Copper Project in the south, both with major copper resources.
Clinical stage biotechnology company Tiziana Life Sciences (TILS) 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. Under the terms of the agreement, Precision BioSciences, a clinical stage biotechnology company with its own proprietary ARCUS® genome editing platform, gains an exclusive license to use foralumab as a lymphodepletion agent in conjunction with its allogeneic CAR-T therapeutics for the treatment of cancers. Precision will be responsible for the development, commercialization, and costs for use of foralumab, and Tiziana will receive upfront payment, certain milestone payments, and royalties for foralumab. Financing rounds by CAR-T companies are approaching $4bn, and M&A has involved the takeovers of Celgene and Juno. SOBI has just been taken over for $8bn.
Oil and gas development company Empyrean Energy (EME) said that it has awarded an Integrated Drilling Contract for the Jade prospect exploration well on Block 29/11, offshore China. The award of the IDC has a targeted well spud date set for 15 December to 30 December 2021. Drilling rig availability has been confirmed and all technical, commercial and contractual terms agreed. The final IDC requires a Drilling Program and Geological Program will be underway coming weeks.
Somewhat marmite inventory monetisation group [email protected] Capital (SYME) announced it has signed a term sheet for a short-term loan facility with a family office investor, provided by ARC Group. ARC Group is a global Investment Bank specialising in the middle markets, with representative offices across all continents. The Bank focuses on providing global fundraising solutions to its clients from institutional investors.
Rocky Mountain oil and gas company, Zephyr Energy (ZPHR) provided an update on its flagship project in the Paradox Basin, Utah, U.S. It said that the analysis of DFIT has been completed, and that the test provided strong evidence of the potential to successfully develop the Cane Creek reservoir as a hydraulically stimulated resource play.
There was a corporate and operational update from Lekoil (LEK), one of yesterday’s biggest trading stocks. The oil and gas exploration and production company revealed its intention to enter into Convertible Facility Agreement allowing it to draw down up to £200,000, primarily to fund legal costs for the protection of shareholder value as well as to cover some ongoing operational costs. In Nigeria oil production for the six months to 30 June 2021 averaged circa 5,200 bopd (gross)/2,080 bopd (net), generating unaudited revenue for the six-month period to 30 June 2021 of approximately $24m (H1 2020, c$14m).
Online and immersive career guidance and development group Dev Clever (DEV) said that the first phase of the tactical partnership with Aldebaron has now been agreed and signed. Under the terms of the partnership the National Careers Challenge will be launched in the UK on 30 September 2021. Concurrently, plans for an Indian NCC are anticipated to be finalised in Q4 2021 for full scale launch during the first half of 2022.
MAST Energy Developments (MAST), a newly listed Reserve Power market specialist, announced its unaudited results for the nine months ended 30 June 2021. The company said it had acquired the entire issued share capital of Sloane Developments with effect from 14 September 2020. Due to the relative size of the acquired operations of the Sloane SubGroup the acquisition is seen as a capital re-organisation for financial reporting purposes.
Advance Energy (ADV), which has a strategy based on the acquisition or farm-in to non-operated interests in discovered upstream projects, delivered an update on the Buffalo-10 well drilling operations. Since June when the company announced that Carnarvon Petroleum had agreed a Letter of Intent for a jack-up rig for the Buffalo-10 well, a formal rig contract has now been signed with Valaris for the VALARIS JU-107 jack-up drilling rig.
Africa focussed minerals exploration company, IronRidge (IRR) reported additional broad and high-grade lithium pegmatite drill intersections at new targets adjacent to the Ewoyaa Lithium Project. where the Company has defined a JORC compliant mineral resource estimate of 14.5Mt at 1.31% Li2O in the inferred and indicated category, including 4.5Mt at 1.39% Li2O in the indicated category in Ghana, West Africa.
European based bio-pharma company, MGC Pharmaceuticals (MXC) has been granted a permit to import CimetrA™ into India by the Indian Central Drugs Standard Control Organisation to facilitate final product testing to complete its application for Emergency Use Authorisation to treat patients with COVID-19. The application for Emergency Use Authorisation by CDSCO has been co-ordinated by P.T.K. Consulting Ltd (PTK), an Israeli consulting company operating in the medical field.
Disclaimer & Declaration of Interest
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.
