Proactive news headlines: Anglesey Mining, Sareum Holdings, 88 Energy, Directa Plus, SourceBio Inter

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Anglesey Mining PLC (LON:AYM) has released the results of its preliminary economic assessment (PEA) of the Parys Mountain copper-zinc-lead-gold-silver project on the island of Anglesey in North Wales.  The assessment is based around an updated resource estimate of 5.2mln tonnes of indicated together with 11.7mln tonnes of inferred ore. Financial modelling for the expanded case development scenario shows a pre-tax net present value (NPV) at a 10% discount of US$120mln for Parys, with an internal rate of return running at 26% over a 12-year mine life.

Sareum Holdings PLC (LON:SAR) said it has received the worldwide rights to the FLT3+Aurora kinase inhibitor programme which is designed to help treat immune system overreaction to coronavirus (COVID-19) and other viral infections. In an announcement late on Friday afternoon, the AIM-listed drug development firm said its licensing partner for FLT3 has decided not to exercise its option to continue the development of the programme, and as a result rights to the programme will now revert to Sareum. The company said FLT3 was licensed to a China-based speciality pharma company in March 2020, for which Sareum received an upfront payment of £50,000.

88 Energy Ltd (LON:88E) (ASX:88E) revealed it has struck a deal to acquire the Umiat oil field, which is located on Alaska’s North Slope. Umiat is located immediately adjacent to the southern boundary of the company’s Project Peregrine acreage. It is a historic oil discovery, dating back to 1945, in shallow Brookian (Nanushuk) sandstones. A well, Umiat-23H, was tested by a prior operator back in 2014. It achieved a sustained rate of 200 barrels per day with a maximum rate of 800 barrels measured.

Directa Plus PLC (LON:DCTA), the graphene nanoplatelets-based products supplier, has raised its full-year revenue guidance for 2020. The company has said it continued to trade strongly in the final weeks of 2020, with better-than-expected sales of G+ enhanced face masks and growth at Setcar SA, the company’s 51%-owned environmental remediation business. “To have finished 2020 with better revenues than expected even at the start of December is enormously satisfying. We saw a year of hard work, in difficult circumstances, by all of our employees culminate in this success,” said Giulio Cesareo, the founder and chief executive officer of Directa Plus in a trading update.

SourceBio International PLC (LON:SBI) said it has landed a supply agreement with an unnamed high street retail and pharmacy group to provide lab-based testing services to support the roll-out of coronavirus (COVID-19) tests across UK stores. The company has inked an initial 12-month deal with the offering being trialled initially across a limited number of sites before scaling up. SourceBio currently provides COVID-19 services to the NHS, the Department of Health & Social Care and private healthcare customers.

Stobart Group Ltd. (LON:STOB), the aviation and energy infrastructure group, has announced its intention to change its name to Esken Limited. This follows the announcement on May 21, 2020, that the company had sold the Eddie Stobart and Stobart trademarks to Eddie Stobart Logistics for £1mln. As a result of this transaction Stobart Group agreed it would change its name before the end of February 2021. Stobart Group’s operating divisions may continue to use the brand to May 2023 and London Southend Airport will not change its name. In order to obtain the required shareholder approval for this change, a General Meeting will be held at 10.00am on Wednesday, February 3, 2021, at the company’s London office: 15 Stratford Place, London W1C 1BE. Due to coronavirus (COVID-19), shareholders will not be able to attend in person but can attend electronically, details for which are set out in the Notice of GM. Shareholders are encouraged to exercise their right to vote and, accordingly, it is strongly recommended that shareholders vote by way of proxy.

MaxCyte Inc (LON:MXCT) said it has signed a clinical and commercial licensing agreement with immunology firm Myeloid Therapeutics Inc to advance novel cell therapies to treat solid tumours, T-cell lymphoma and glioblastoma. The company said Myeloid will obtain non-exclusive clinical and commercial rights to use MaxCyte’s flow electroporation technology and ExPERT platform, which it will use to advance its pipeline of programs, while in return MaxCyte will receive undisclosed development and approval milestones, and sales-based payments, along with other licensing fees.

DeepVerge PLC (LON:DVRG) has confirmed its first profitable quarter as well as highlighting a 300% increase in revenues for 2020. The AIM-listed environmental and life science artificial intelligence (AI) company said in a year-end trading update for 2020 that strong sales in the fourth quarter had delivered its first EBITDA profitable three-month period, while revenues for the whole year rose to £4.4mln from £1.02mln in 2019. DeepVerge also forecast revenues of £10mln for 2021, adding that “several large projects, including two multi-million pound opportunities due for decision [this year] have the potential to drive higher growth”.

Remote Monitored Systems plc (LON:RMS) confirmed that it has appointed two new non-executive directors, Antony Legge and Richard Clarke, with Legge to succeed Paul Ryan as the company’s chairman. The company noted that both Legge and Clarke bring a range of corporate experience to their roles as non-executive directors. Legge spent many years acting as a corporate finance advisor including as a nominated adviser to AIM Companies, while Clarke has extensive experience as a director in technology companies and is currently finance director of PowerPhotonic Ltd, a manufacturer of advanced laser optics.

Open Orphan PLC (LON:ORPH) said the first volunteer has been dosed with a new needle-free, nasally-administered coronavirus (COVID-19) vaccine. The phase I trial of the next-generation single-dose inoculation will take place at the company’s hVIVO’s facility, a specialist centre for human challenge studies. The advance has been developed by a US company called Codagenix and will be subject to a randomised, double-blind, placebo-controlled dose-escalation assessment.

OptiBiotix Health PLC (LON:OPTI) said it has reached an agreement with Fondazione Edmund Mach – Centro Ricerca e Innovazione (FEM), based in Trento, Italy, and the University of Southampton, to jointly fund and carry out a research project examining the role of its microbiome products – LPLDL, SlimBiome/WellBiome –  to improve sleep, stress, and anxiety. The life sciences company, which is developing compounds to tackle obesity, high cholesterol, diabetes and skincare, said the research includes the application of systems approaches to understand the far-reaching effects of microbiome modulators on the biomolecular system of the host and their implications for health and disease. The agreement funds a PhD studentship to explore the potential of prebiotics – SlimBiome/ WellBiome – and probiotics – LPLD – for their ability to manage sleep, stress and anxiety.  The agreement includes a  double-blind, placebo-controlled, human study carried out during a period of stress-induced sleep disruption. 

[email protected] Capital PLC (LON:SYME) has entered into an agreement with Lenovo Financial Services META, a payments solutions provider. The London-listed fintech platform operator said its SYME platform will be positioned as an alternative solution to complement Lenovo Financial Services’ existing vendor programme offerings to their network of customers in the Middle East, Turkey and Africa (META) region (excluding South Africa). The purpose of the co-operation agreement, made with the strategic support of its funding specialist, iMASS, is to deliver a dedicated inventory monetisation programme to Lenovo Financial Services’ customers that could also allow them to evaluate the opportunity to adopt the upcoming Shari’a version of the platform.

Advanced Oncotherapy PLC (LON:AVO) confirmed it is on track to have a fully operational proton beam therapy unit in 2021 with “good progress” being made at the assembly facility in Daresbury, Cheshire. The company has hit a number of key landmarks in recent weeks. In a technical update, investors were told the LIGHT system is now capable of supporting the delivery of a proton pulse every five milliseconds. This occurred following the conditioning of the high-power radio-frequency (RF) accelerating units with the optimal RF phase and amplitude stability reached.

Guild Esports PLC (LON:GILD) said it has signed a third top-ranked professional esports player to its Fortnite team. The developer of esports teams said it has signed a contract with Anas El-Abd, a Danish gamer currently ranked as the seventh-best Fortnite player in Europe, for one year to compete under the Guild banner in all upcoming European and international tournaments with an option to renew for another year.

Frontier IP Group PLC (LON:FIP), a specialist in commercialising intellectual property, has noted that its portfolio company Elute Intelligence Holdings Limited has successfully raised £250,000 through its first equity funding round. The investment, made by private investors in return for a 10% equity stake, values Elute at £2.5mln post-money, and Frontier IP’s holding of 41% at £1.0mln. Proceeds from the fundraising will be used to support Elute’s recently launched Patent Reader and development of an enterprise search tool based on the same underlying technology, which uses forensic linguistics to speed searches through unstructured document datasets

Union Jack Oil PLC (LON:UJO) has updated on the Wressle oil field development project, in Lincolnshire, where a rig arrived last week and operations are now underway. Following the arrival of the rig and equipment on-site work to recomplete and reperforate began, with the aim of flowing the Ashover Grit reservoir before the end of January.

Oracle Power PLC (LON:ORCP) chief executive, Naheed Memon has provided an extensive update to the market in respect of developments during the fourth quarter of 2020. “The final quarter of the year was a significant period for the company, presenting considerable opportunities despite frustrations relating to certain delays in Pakistan,” said Memon in the update. “Despite the prolonged process which we have experienced over the past nine months with the Ministry of Energy, I can say unequivocally that our Thar Block VI Project has never featured more prominently in the minds of key decision makers and government agencies in Pakistan, as the country looks to unlock the exceptional value of this strategic national asset.”

IronRidge Resources Ltd (LON:IRR) has completed the sale of its non-core May Queen gold project in Queensland to Australasian Gold Ltd (AGL). IronRidge will receive 4.5mln shares representing 28.1% of the enlarged share capital of Australasian Gold. IronRidge will also invest A$100,000 at A$0.10 per share to provide Australasian Gold with additional working capital, taking the total holding to 32.3%.

Argo Blockchain PLC (LON:ARB) has announced that 1,058 cryptocurrency mining machines will be delivered ahead of schedule. The shipment, comprising S19 and S19 pro miners, is part of the company’s order of 4,500 leased machines which were made in November. They will be fully installing and hashing by the week of January 25, 2021, which will be three weeks early.

Power Metal Resources PLC (LON:POW) has updated on ongoing work being undertaken by Kalahari Key Mineral Exploration Pty Ltd at the Molopo Farms Complex, which is targeting prospective massive nickel sulphide and platinum-group metal mineralisation in Botswana. Following the successful drilling of the first two diamond drill holes to their initial target depth an extensive technical review is currently underway at the Molopo Farms Complex project. Initial geological core-logging by KKME’s consulting geologist has identified 4.4 metres (m) of ultramafic rocks with finely disseminated sulphides at approximately 270m vertical depth in one hole.

Block Energy PLC (LON:BLOE) has told investors it is now awaiting third-party progress necessary for ‘first gas’ at the West Rustavi field, in Georgia. The company said that it has completed all steps under its control including the construction and commissioning of the Early Production Facility and gas gathering line. Presently, the remaining key steps leading up to inaugural gas sales are all under the control of Bago LLC.  Bago needs to complete construction for the compressor station and the hook up to the main gas lines. ‘First gas’ is now expected in either late January or early February, the company added.

Bushveld Minerals Limited (LON:BMN) said it regrets to announce the death of Ms Dolly Mokgatle, an independent non-executive director of the company. Ms Mokgatle joined the board of Bushveld in March 2020, having already had a hugely distinguished career as a business leader in South Africa, holding various significant leadership positions within several of South Africa’s state-owned enterprises, as well as within the private sector. As a senior advisor to the government on electricity-related matters, she made contributions that have shaped the country’s energy policy. Fortune Mojapelo, CEO of Bushveld Minerals Limited, commented: “We are all deeply saddened by this tragic news. In her short time with Bushveld, Dolly made a huge contribution to the Board, especially in what was a difficult year for everyone. On behalf of the Board, and everyone at Bushveld, I would like to extend my deepest sympathies to her family, friends and colleagues.”

W Resources PLC (LON:WRES) said it has drawn down a further £500,000 tranche from the £4mln convertible bond facility it has with Atlas Capital Markets. This is the second drawdown made from the facility which was secured on March 30, 2020. This convertible bond tranche has a 5% coupon and 3-year term.

AdEPT Technology Group PLC (LON:ADT) has hailed its role in the migration of an NHS data network to an updated version that is expected to save the health service £75mln per year. The IT services provider said around 12,000 sites belonging to 950 NHS, social care, private sector and local authority organisations have moved from a legacy N3 network to the new Health and Social Care Network (HSCN) in the largest-known public sector data network transition programme, according to NHS Digital. Organisations that have moved to the HSCN are expected to get faster connectivity with improved security capabilities at a reduced cost.

InnovaDerma PLC (LON:IDP), the company behind the Skinny Tan product, is looking to bolster its balance sheet to capitalise on opportunities once the lockdowns end. The UK developer of beauty, personal care and life sciences products said the continued impact of the coronavirus (COVID-19) pandemic and tighter lockdown rules hit its trading performance over the important festive season. The company said it expects full-year revenue for 2020 to be around £4.1mln, versus revenue of £5.1mln in 2019.

Ferro-Alloy Resources Limited (LON:FAR), the vanadium mining and processing company with operations based in Southern Kazakhstan announced that it has raised US$161,475 via the issue of bonds on the Astana Stock Exchange. The bonds have a nominal value of $2,000 each, have a coupon of 5.8% payable twice-yearly, are unsecured and are repayable on March 17, 2023. Investors have subscribed for a total of 82 of the company’s bonds, issued at a premium or discount to nominal value according to market conditions.

Power Metal Resources PLC (LON:POW), the AIM-listed metals exploration and development company said it has received notices to exercise warrants over 14,606,326 new ordinary shares of 0.1p each in the company at an exercise price of 1.0p per ordinary share and 4,210,526 warrants at an exercise price of 0.75p per ordinary share. Subscription monies of £135,537 have been received by Power Metal in respect of these exercises.

Rock Resources PLC (LON:RRR), the natural resource development company, with interests in gold, copper, cobalt, manganese and other minerals, has announced that its annual general meeting (AGM) is to be held at the company’s business address, We Work, 71-91 Aldwych House, London, WC2B 4HN on Friday, February 12, 2021, at 1.00pm. As a result of coronavirus (COVID-19), in accordance with the UK Government’s measures to restrict gatherings, physical attendance in person by shareholders of the company will not be possible and the AGM will be held as a closed meeting. Shareholders will not be permitted to attend the AGM in person and are strongly encouraged to submit their proxy vote, appointing the chairman of the meeting as their proxy, in advance of the meeting to ensure that their votes are registered.

Tiziana Life Sciences PLC (NASDAQ:TLSA ) (LON:TILS) has said it is participating in Biotech Showcase 2021 and will be providing an on-demand company presentation. Dr Kunwar Shailubhai, CEO and CSO of Tiziana Life Sciences, commented: “I look forward to sharing our exciting story with conference attendees. With topline data from our COVID-19 trial expected this month, multiple Phase 2 trial launches expected in 2021, and the potential application of Foralumab in a wide range of autoimmune and inflammatory diseases longer-term, we are well-positioned to achieve a series of important milestones that can provide a positive and lasting impact on our valuation in the months and quarters ahead.” Biotech Showcase, produced by Demy-Colton and EBD Group, is an investor conference focused on driving advances in therapeutic development by providing a sophisticated networking platform for executives and investors that fosters investment and partnership opportunities. The conference takes place each year during the course of one of the industry’s largest gatherings and busiest weeks. To learn more about registration options, investors should use the following link: https://informaconnect.com/biotech-showcase/

Sensyne Health PLC (LON:SENS), the clinical AI company, has said it will announce its interim results for the six months ended October 31, 2020, on Thursday, January 21, 2021. Lord Drayson, the group’s chief executive officer, and Michael Norris, its interim chief financial officer, will host a virtual briefing for analysts and investors at 1.00pm GMT on the day of the results. Details of the webcast, and the presentation slides, will be available via the company website. For more details investors can contact [email protected]

Cobra Resources PLC (LON:COBR), the mining exploration company focused on the Wudinna Gold Project in South Australia, has said it will issue 31,049,819 ordinary shares at a price of 2.4p per share to the vendors of Lady Alice Trust and Lady Alice Mines Pty Ltd, in accordance with the acquisition agreement through which the company acquired its entitlement to earn into the Wudinna Gold Project. Additionally, the company announced that it will issue a further 1,333,333 ordinary shares at a price of 1.5p per share to Craig Moulton upon completion of Stage 1 of the Wudinna Gold Project, in accordance with the terms of his services agreement.

Honye Financial Services Ltd (LON:HOYE), a special purpose acquisition company formed to undertake one or more acquisitions of businesses in the financial services and financial technology sector , announced that at its annual general meeting, held on Monday, all resolutions were duly passed.

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