Pharma & Biotech
Pharma & Biotech
10:44 Wed 14 Sep 2022
Scirocco Energy PLC (AIM:SCIR) has noted the announcement by Reabold Resources PLC (AIM:RBD) regarding the conditional sale of its investee company, Corallian Energy Ltd.
In 2018, Scirocco invested a minor stake in Corallian via the subscription of over 83,000 shares at £1.50 each.
Mosman Oil and Gas Ltd (AIM:MSMN) has told investors that it now expects drilling to start on the Cinnabar-1 well, in Texas, in approximately seven days.
The company, in a statement, noted that the timing of drilling remains subject to final rig availability.
Canadian Overseas Petroleum Limited (LSE:COPL, CSE:XOP) (COPL) has noted that a hearing on the application by its affiliate, Southwestern Production Corporation to flare additional gas volumes at its Barron Flats Shannon Unit (BFSU), located in Converse County Wyoming, has been delayed.
Southwestern has made an application to the Wyoming Oil and Gas Conservation Commission (WOGCC) to temporarily flare additional gas at its operated BFSU miscible flood project. The WOGGC hearing on the application was scheduled for September 13, 2022.
Strategic Minerals has released the first data from the ‘Deep Digital Cornwall’ project pointing to potential areas of tin and tungsten to the west of its Redmoor licence.
DDC is led by the University of Exeter’s Camborne School of Mines in which SML subsidiary Cornwall Resources and Cornish Lithium are delivery partners.
ImmuPharma PLC (AIM:IMM, OTC:IMMPF) has announced that its US partner for Lupuzor (P140), Avion Pharmaceuticals has received a written response from the US Food and Drug Administration (FDA) to its Type C meeting regarding the development and review of the product.
The specialist drug discovery and development company said the FDA response was detailed and included significant guidance on next steps for the clinical programme for the potential treatment for the autoimmune disease Lupus, which included advice on the dosing regime.
Empire Metals Ltd (AIM:EEE) said it expects shortly to produce a full electromagnetic survey over its Pitfield deposit in Australia.
Pitfield is already displaying characteristics of a significant copper mineral system, it added, with good potential to make a major copper discovery there.
It could only be a matter of a few days now before shares in MetalNRG PLC (LSE:MNRG) start to enjoy a substantial re-rating.
The occasion will be a legal hearing that will take place on in the fourth week of September which ought to decide once and for all an issue which has dogged sentiment towards MetalNRG since April of this year.
Chariot (AIM: CHAR), the Africa focused transitional energy company, highlighted a significant offshore gas discovery in Morocco and two new renewable energy projects in South Africa and Zimbabwe as it published interim results.
The AIM-listed group said the loss after tax for the six months ended June 30 was US$7.76mln compared with a loss of US$2.01mln previously.
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) told investors it is picking up additional acreage in Utah, in the vicinity of the company’s flagship Paradox.
The company said in a statement it agreed to buy a package of oil and gas assets including natural gas infrastructure, five existing well bores and acreage that’s contiguous with its White Sands Unit (WSU) which forms one part of the Paradox project.
Bezant Resources PLC (AIM:BZT) has said it plans diamond drilling in coming weeks to follow up on high values of manganese seen in trench assay results at its 100% owned high-grade Kanye project in Botswana.
Lab assays from trench sampling at the Loltware prospect returned in-situ chip/grab sample peak results of 41.4% manganese oxide (MnO), 49.23% MnO and 40.83% MnO from one metre wide zones of siliceous manganese mineralisation within a continuously mineralised zone of 40 metres (m) at 11.53% MnO.
ReNeuron Group PLC said it appointed John Hawkins as its chief financial officer (CFO) and a board member with immediate effect.
The UK-based leader in stem cell derived exosome technologies also announced that Simon Dew will be joining its executive team as chief business officer (CBO).
Applied Graphene Materials PLC (AIM:AGM, OTCQX:APGMF) (AGM), the producer of specialty graphene nanoplatelet dispersions, said it signed a supply agreement with a global leader in the car detailing industry for an exclusively developed graphene-based solution.
The partnership with a global household name brand represents a significant milestone for AGM in the car care sector, where it has already announced multiple product launches with smaller participants.
Blackbird PLC (AIM:BIRD, OTCQX:BBRDF) reported record revenues for the first half of 2022 as the professional cloud video editing and publishing platform made “good progress” on a first licensing deal for its technology, which is being tested with a major US broadcaster.
Revenues of £1.55mln were generated by the cloud-based video editing tech specialist in the six-month period, up 78% on a year ago.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) said it has been issued two of the three required exploration licences for the Jibal Qutman Gold Project in Saudi Arabia.
The licences were issued through the company’s Gold and Minerals Limited (G&M) joint venture with partner Abdul Rahman Saad Al Rashid and Sons, of which AIM-quoted KEFI owns 30%.
Reabold Resources said it agreed terms for the conditional sale of its 49.99% stake in Corallian Energy and its Victory gas field for a gross consideration of £32mln.
Corallian received a conditional offer of £3.20 a share, which Reabold will accept with outstanding convertible loans also to be swapped into shares that will be sold on the same terms.
OptiBiotix Health PLC (AIM:OPTI) said its OptiBiotix Ltd wholly owned subsidiary has signed a services agreement with Nutraconnect Pte Ltd for the Asia Pacific (APAC) Region.
Nutraconnect, a nutraceutical business growth acceleration service headquartered in Singapore, will develop and implement the go-to-market strategy for prebiotics ingredients SlimBiome and LeanBiome.
XLMedia PLC (AIM:XLM, OTC:XLMDF) said it expanded its partnerships with Advance Local to create premium betting content and a source of revenue for its MassLive.com brand.
MassLive.com is a Massachusetts-based news and information website, attracting 6.5mln unique visitors every month, according to a statement.
Mineral and Financial Investments Ltd (M&FI) has provided an update on its investee company, Ideon Technologies Inc, which has received a US$16.0mln new equity injection.
Ideon, in which M&FI holds 1.4% on a fully diluted basis of the issued shared capital, has received US$15.0mln from venture capital firm, Playground Global Fund III, giving it approximately 20% of the company.
ECR Minerals PLC (AIM:ECR) said drilling has started at the Blue Moon prospect at its Bailieston gold project in Australia using the company’s own drill rig.
The ‘MIDAS’ diamond drill rig will drill an initial four holes covering 1,000 metres (m), following up on positive results from a reverse circulation drilling programme.
CentralNic Group PLC (AIM:CNIC) has revealed it is broadening its reach in social media and native advertising with the acquisition of tech firm Aporia for US$11.2mln net in cash.
“The acquisition is part of a larger vertical integration strategy, providing the group’s online marketing segment with more direct access to high-quality traffic to monetise,” said the company.
Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) has announced a milestone partnership ahead of phase II drilling at its Rukwa project in Tanzania.
The company said it has signed a letter of intent with international oil and gas consultants Baker Hughes (BH), which will provide integrated services ahead of the ‘spudding’ of an evaluation well in January or February next year.
Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, OTCQX:PAFRF) has reported an increase in full-year pretax profit on record gold production.
Pretax profit for the year to end-June, 2022, rose by 2% to US$106.9mln as gold output grew to 205,688 ounces, exceeding its revised guidance of 200,000 ounces as well as the previous year’s production of 201,777 ounces.
Supermarket Income REIT PLC (LSE:SUPR, OTC:SUPIF) acquired a Tesco supermarket in Llanelli, South Wales, for £66.8mln, reflecting a net initial yield of 5.3%.
The store was developed in 1989 and occupies a 10-acre site with an 82,046 sq ft net sales area supermarket, a 16-pump petrol filling station and 753 car parking spaces.
Naked Wines has said it intends to publish a trading update in the week of October 17, 2002, covering the period to September 26, the first half of its 2023 fiscal year.
The AIM-listed online wine seller said it is reviewing potential operational and financial plans for the next 18 months and will update on these plans alongside the trading update.
Altech Chemicals Ltd (ASX:ATC) is trading higher after executing a Joint Venture Shareholders’ Agreement with leading German battery institute Fraunhofer IKTS to commercialise IKTS’ revolutionary CERENERGY® Sodium Alumina Solid State (SAS) Battery that is free of lithium, graphite, copper and cobalt.
The SAS CERENERGY® battery uses common table salt and ceramic solid-state technology and Altech believes that these batteries are the “game-changing” grid storage alternative to lithium-ion batteries.
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