Redx Pharma PLC (LON:REDX) has revealed that a company led by a colourful biotech entrepreneur and the former head of the football league has made another private approach for it two weeks after discussions were terminated. In that time, Redx, led by Lisa Anson, has brokered a £26mln funding package that secured the company’s immediate future. In a surprise announcement on Friday, the company confirmed that Yesod Bio-Sciences has returned to the table with an indicative 15p a share offer. The stock closed Thursday at 4.5p.
Condor Gold PLC (LON:CNR) said considerable progress has been made towards securing the environmental permit for the development of the La India open pit in Nicaragua. In its results covering the second half of 2019, the AIM-listed exploration and development company noted that mine schedule, waste dump schedule, water and sewage management studies for the processing plant offices and accommodation have been completed and Tierra Group is fully engineering the tailing storage facility and completing designs for the surface water management system required for the operation of the mine.
Frontier IP PLC (LON:FIPP) investee company The Vaccine Group (TVG) said it is making “significant progress” with its animal vaccine platform and, significantly, has started work on an animal inoculation that would prevent the spread of coronavirus from animal to human. In a comprehensive update, TVG said rabbit trials of a prototype bovine mastitis drug have revealed “significant potential for new intellectual property and demonstrated the technology’s ability to deliver strong, targeted immune responses”.
Directa Plus PLC (LON:DCTA), a producer of graphene nanoplatelets-based products, said trading in the first quarter of 2020 has been robust. Revenues are expected to clock in at around €1.52mln, slightly more than triple the level they were in the same quarter of 2019. This significant improvement has been primarily driven by the strengthening performance of Setcar, Directa Plus’s environmental division.
Polarean Imaging PLC (LON:POLX) has conditionally raised £8.4mln (US$10.7mln) before expenses as it applies for US regulatory approval for its drug-device combination. The placing saw a total of 46.6mln ordinary shares issued at a price of 18p apiece, with one of the new investors being Milan-based diagnostic imaging specialist Bracco Imaging. The North Carolina-based company said the extra cash would strengthen its balance sheet while it prepares for the new drug application (NDA) for its hyperpolarised 129-Xenon gas MRI technique, which is planned for submission to the US Food & Drug Administration during the third quarter of the year.
Sure Ventures PLC (LON:SURE) announced that it has raised gross proceeds of £250,000 by way of a private placing with one institutional investor. The group said the ordinary shares have been issued at 100p each, which after the costs and expenses of the issue represents a premium to its last published net asset value (NAV) of 95.74p per share.
KR1 PLC (LON:KR1) has said its long-term investment strategy “remains unchanged” after what it said were extremely volatile markets for Bitcoin and other cryptocurrencies on Thursday. The blockchain and crypto investment firm said it wanted to “assure shareholders that none of KR1’s assets were liquidated or threatened by the extreme volatility”, however, as expected, the portfolio experienced a price shock of the underlying assets throughout the night which had slightly recovered by Friday morning.
Salt Lake Potash Limited (LON:SO4) has said it is focused on “rapidly progressing” the development of its Lake Way project in Western Australia as it reported its half-year results. Over the six months ended 31 December, the company said it had completed a bankable feasibility study for Lake Way which it said demonstrated “outstanding economic returns” for a 20 year sulphate of potash (SOP) operation production 245 kilotons per annum.
European Metals Holdings Ltd (LON:EMH)(ASX:EMH) ended the year to 31 December 2019 with just US$81,000 cash in the bank. The company subsequently raised £350,000 in January in a placing. The money will be used to continue with development of the Cinovec lithium project in Czech Republic, and to allow for completion of the proposed investment into Cinovec by the Czech parastatal CEZ Group.
Thor Mining PLC (LON:THR) has released its results statement for the financial year ended 31 December 2019, with the pre-revenue firm reporting a loss of £479,000 and ending the period with £316,000 of cash and equivalent. Highlighting its operational progress during the year the company noted success at the ISR Copper property where a field pump test was completed at the Kapunda project gathering evidence for a successful operation.
Asiamet Resources Ltd (LON:ARS) remains focused on the ongoing development of its advanced stage high quality, copper, copper-gold and base-metals deposits in Indonesia, in spite of the wider market turmoil, the company said in a business update. All licences and tenure for Asiamet’s KSK Contract of Work and Mining Business Licence for the Beutong project are in compliance with Indonesian regulations and in good standing. The KSK Contract of Work, which covers 39,443 hectare in Central Kalimantan, includes the feasibility-stage BKM copper project.
Tower Resources PLC (LON:TRP) has reported an updated reserves report for the Thali project, offshore Cameroon, where the company has been awaiting the completion of a farm-out deal. The new third-party assessment, authored by Oilfield International, confirms 18mln barrels of proven reserves in the Njonji-1 and Njonji-2 fault blocks (unchanged on previous estimates) along with 20mln barrels of mean prospective resources across the Njonji South and Njonji South-West fault blocks.
Bahamas Petroleum Company PLC (LON:BPC) has moved back its estimated timeline for the Perseverance-1 exploration well as a result of supply chain disruption caused by the Covid19 coronavirus pandemic. Perseverance-1 is now anticipated in late May/early June. In the prior timeline the well was expected to spud in April 2020.
Sunrise Resources PLC (LON:SRES) said its Annual General Meeting (AGM) will be held at 12:00 noon. on 19 March 2020 at the company’s offices at Silk Point, Queens Avenue, Macclesfield, Cheshire SK10 2BB. However, in view of the ongoing coronavirus pandemic, it is now encouraging shareholders to vote electronically or to appoint the chairman as their proxy with their voting instructions rather than attend the meeting in person, and in order to reduce the risk of infection, the meeting will end immediately following the business of the AGM and there will be no corporate presentation, Q&A or refreshments. Sunrise said it is taking these precautionary measures to safeguard its shareholders’ and employees’ health and make the AGM as safe and efficient as possible.
Avation PLC (LON: AVAP), the commercial passenger aircraft leasing company, announced that on 12 March 2020 the company repurchased 10,000 ordinary shares through the market at a price of 225p each, which and will be held in treasury.