Pharma & Biotech
Pharma & Biotech
10:00 Thu 22 Sep 2022
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Analysts at Liberum Capital have placed their 149p target price for Atlantic Lithium Ltd under review while they revise their model for the company following news on the Pre-Feasibility Study (PFS) for the Ewoyaa lithium project in Ghana.
The City broker’s analysts noted that the Ewoyaa PFS envisages production of 255,000 tonnes per annum (tpa) of spodumene concentrate grading 6% Li2O (SC6) over 12.5 years.
Learning Technologies’ first half performance was ahead of expectations says broker Peel Hunt, with its assets seeing steep margin expansion since acquired alongside strong organic growth,
Peel Hunt now sees full-year earnings per share at the e-learning group potentially beating forecasts by around 1% and helped by a forex benefit.
ATOME PLC’s appointment of Natixis to structure and secure financing for its 60 MW Villeta green hydrogen and ammonia project in Paraguay marks another step towards fulfilling its ambition of becoming a major green hydrogen and ammonia producer, says broker finnCap.
Natixis is part of the second-largest banking group in France and one of the world leaders in hydrogen and energy infrastructure funding, said the City broker.
Scotgold Resources Limited (AIM:SGZ) said it has completed the majority of optimisation initiatives at its Cononish gold and silver mine in Scotland.
Third-quarter production is likely to be lower than expected due to the successful, but delayed, commissioning of underground power and ventilation upgrades, but the company said optimisation work means that the fourth quarter should be “significantly ahead” of the third and second quarters and meaning that the optimisation phase production run rate of circa 16,000 ounces for the year of gold will be achieved.
Learning Technologies Group PLC (AIM:LTG) reported revenue growth of 241% in the first six months and said it remains optimistic it will perform ahead of analysts’ consensus for the year despite challenges in the macro environment.
Revenues rose to £281.8mln for the six months to 30 June, from £82.6mln in H1 2021, the digital learning firm said in a statement.
Bens Creek Group PLC (AIM:BEN, OTC:BENCF), the owner of a metallurgical coal mine in North America supplying the steel industry, said its permit application has now been approved to operate a second highwall miner at its site in West Virginia.
As previously notified, the company’s wholly-owned operating subsidiary, Bens Creek Operations WV LCC, had made an application for a permit to mine a much larger area than is currently being mined by the first highwall miner, which had been submitted to the Department of Environmental Protection in West Virginia (WVDEP). This permit has been granted with an effective date of September 21, 2022.
Aquis Exchange PLC (AIM:AQX) chief executive Alasdair Haynes told investors that the small and micro-cap bourse has demonstrated it has “the right model, team, technology and vision” to deliver shareholder value despite the prevailing economic uncertainty and it looks to the future with confidence.
The company has today reported a 21% increase in first-half revenue to £8.3mln versus £6.9mln, and marked £1.4mln of earnings (EBITDA), against £1.6mln last year, as it invested in technology and development resources.
Polarean Imaging PLC (AIM:POLX, OTC:PLLWF) has announced that the US Food and Drug Administration (FDA) has requested additional information from the manufacturing partner for the company’s xenon-129 gas blend drug.
The company said this request is related to the recent cGMP (Current Good Manufacturing Practice) pre-approval inspection at the partner’s production facility. The FDA has suggested that the required information would constitute a major amendment to the New Drug Application (NDA) that, if timely submitted, would allow for the FDA to grant a 90-day extension to the review timeline.
Creo Medical Group PLC (AIM:CREO) has said its founder and chief technology officer (CTO), Chris Hancock has been elected a Fellow of the Royal Academy of Engineering.
The company noted that the Academy has elected 72 leading figures in the field of engineering and technology, comprising 60 Fellows, seven International Fellows and five Honorary Fellows.
Jersey Oil and Gas PLC (AIM:JOG, OTC:JYOGF) chief executive Andrew Benitz highlighted “great progress” as the North Sea junior reported its interim results for the six months ended 30 June 2022.
Interest in the Greater Buchan Area (GBA) field development was further bolstered in recent months amid favourable fiscal and macroeconomic developments, the company highlighted.
Atlantic Lithium Limited (AIM:ALL, OTCQX:ALLIF, ASX:A11) said its Ewoyaa lithium project in Ghana, West Africa now has an estimated value of US$1.33bn and will recover its build costs in just five months.
The figures are central to a new pre-feasibility study, managed by Atlantic, that incorporated an upgraded JORC resource of 30.1 mln tonnes (Mt) at 1.26% Li2O announced in March 2022.
Ethernity Networks Ltd (AIM:ENET, OTCQB:ENETF) has sketched out plans to combat component shortages as it posted interim results.
The AIM-quoted provider of networking processing semiconductor technology saw its margins tighten in the first half as it battles the worldwide shortages that have hit the industry.
One Media iP Group PLC (AIM:OMIP) has said that Mark Adams will join its board as an independent non-executive director, pending regulatory approval which is expected in the next few weeks.
Adams has nearly 30 years of experience working in senior finance roles and will join the board’s audit and remuneration committees, the digital media content owner said.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) told investors it has completed a three-day workshop with representatives of various Ethiopian Government agencies and other local representatives, to agree immediate actions required to launch the Tulu Kapi gold project.
The workshop saw agreement on action plans, including matters such as the first phase of the community resettlement, increasing employment of local personnel, and upgrading of security protection.
DeepVerge PLC reported record revenue in its first-half results following an uptick in demand for its goods and services.
Sales for the six months ended 30 June 2022 rocketed 94% to £6.4mln for the environmental and life science group, with March’s production orders of £5mln for Modern Water equipment contributing to higher inventories.
Induction Healthcare Group PLC (AIM:INHC) said the group’s cash position has improved ‘significantly’ since it last updated on its financial progress.
This, it said, was thanks to strong NHS renewals of its Attend Anywhere video consultation platform.
Great Western Mining Corporation PLC (AIM:GWMO) chair Brian Hall has cheered what he described as “very exciting” final assay results from the summer’s drilling in the OMCO Mine area of the Olympic gold project, Nevada.
The results confirm that the OMCO Mine vein was intercepted, and, an extension to the OMCO Mine area has now been established, the company noted.
Ceres Power PLC said it expects to tie up definitive agreements for its joint ventures in China with major backers and shareholders Weichai and Bosch in the final quarter of 2022.
Heads of terms were signed in February for the ventures, which will see the establishment of a manufacturing facility in China for Ceres’ solid oxide fuel cell technology.
ATOME Energy PLC (AIM:ATOM) has appointed a financial adviser to structure and secure financing for its Villeta green hydrogen and ammonia project in Paraguay.
Having hired Natixis Corporate & Investment Banking via a competitive bidding process, the AIM-listed company said the two parties will now work to determine the optimal sources of funding at the project and group level, as well as to identify the best partners at the project level.
Red Rock Resources PLC (AIM:RRR) said Monecor (London) Ltd, trading as OvalX, has raised £160,000 before expenses for the company by placing 40mln new shares with a high net worth investor at a price of 0.4p per share.
The placing proceeds will be used for general working capital, the natural resource development company focused on gold said in a statement.
i3 Energy PLC (AIM:I3E, TSX:ITE, OTC:ITEEF) said it has spudded the Serenity appraisal well, the first North Sea well under new UK prime minister Liz Truss’s watch and one of only a handful to be drilled since before the coronavirus pandemic.
The UK and Canada-focused oiler owns 75% of the licence that contains Serenity, P.2358, Block 13/23c, with Europa Oil & Gas owning the remaining 25%.
ReNeuron Group PLC (AIM:RENE, OTC:RNUGF) announced it will attend the Extracellular Vesicle-Based Therapeutic Development Summit, in Boston, from 4 October to 6 October. As part of the event the company will present new data on its customisable Exosomes delivery platform.
Seraphim Space Investment Trust PLC (LSE:SSIT) gave notice that it will release its full-year results, for the twelve months ended 30 June, on Monday 17 October.
Bradda Head Lithium Limited (AIM:BHL, OTCQB:BHLIF) in a statement announced the launch of its new website, and, additionally noted that a separate new community website is also in process which will focus on reinforcing Bradda Head’s strong relationships with its local stakeholders.
Canadian Overseas Petroleum Limited (LSE:COPL, CSE:XOP) noted the conversion of bonds, issuing 1.9mln shares representing US$400,000 of the bonds.
Power Metal Resources PLC (AIM:POW) and Red Rock Resources PLC (AIM:RRR) joint venture subsidiary New Ballarat Gold Corporation has completed its acquisition of the Berringa Mine.
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Proactive analyst, William Farrington, joined Chris Rhodes for his regular round up of the crypto news. Picking up on previous weeks, he touched on the subject of the aftermath of the recent Ethereum merge – also, JP Morgan’s interesting take on Bitcoin to name but two.
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