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Advanced Oncotherapy rallies on funding update

Last updated: 14:45 10 Mar 2017 GMT, First published: 10:09 10 Mar 2017 GMT

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Advanced Oncotherapy PLC (LON:AVO) was a late riser as investors digested a funding update from the proton beam therapy cancer treatment group.

A number of financing options remain under consideration, with several term sheets submitted for asset-based funding.

At this date, there has been no draw-down under the Metric Capital facility, while the board and management own in excess of 20% and are aligned with other, the statement added.

Shares rose 7% to 41.75p.

Kodal Minerals PLC (LON:KOD) has been in the vanguard of AIM’s lithium rush and surged again today as a Chinese group bought into the shares at a huge premium.

Suay Chin, a newly formed lithium trader, is to acquire £500,000 worth of shares 0.3p per share and is undertaking due diligence ahead of a possible £4.3mln injection at 0.38p that would give it a 20% stake.

The off-take agreement relates to 20% of the spodumene concentrate to be produced from Bougouni.

According to house broker SP Angel, Suay Chin’s move chimes with a trend currently of Chinese firms looking to secure lithium assets ahead of the expected explosion in electric car use and renewable energy storage.

Shares rose 48% to 0.345p.

Magners cider group C&C Group PLC (LON:CCR) slipped 6% to €3.65 as it warned the impact of currency, negative market pressures on pricing and pack/channel mix had hit profitability.

The current year will also be difficult, the Irish group added, with little prospect of improved trading conditions in the short term.

10.00am ..Encouraging lung fibrosis data breathes life into Synairgen

Good pre-clinical data from a new programme investigating lung fibrosis lifted inhaler group Synairgen plc (LON:SNG).

Richard Marsden, chief executive, said: "The effect of these inhibitors across different model types is very exciting, suggesting that inhibition of LOXL2 has the potential to improve lung function in severely ill patients with lung fibrosis by reducing tissue stiffness.”

Shares rose 14% to 27.95p.

Watch: Synairgen's chief hails exciting IPF data from LOXL2 inhibitor programme

BOS GLOBAL HOLDINGS Limited (LON:BOS) moved higher as it reported two patents applications in Australia had moved closer to being approved.

Michael Travia, managing director, said, "This is a material event for the company and its shareholders and will fast track these acceptances in both UK and USA ahead of the launch of BOS Time and the BOS360 Work Patterns Platform as a Service in May 2017."

Shares rose 10% to 9.06p.

Oil group Angus Energy Plc (LON:ANGS) fell 6% to 10.7p even though it denied suggestions that its work programme at Brockham in Surrey was ‘unauthorised’.

In a stock market statement, the company said: “Angus Energy notes the BBC London news item yesterday evening where claims were made that the Brockham X4Z well drilling was 'unauthorised'.

“The company is of the firm opinion that the drilling of the BR-X4Z well, which was approved by the OGA, EA and HSE, did not constitute a breach of the planning consents.”

Proactive news headlines

Sound Energy PLC (LON:SOU) said its latest well on the Tendrara licence in Morocco has reached the final casing point.

TE-8’s liner is being cemented at a depth of 2,603 metres and is just two metres from the main reservoir in the TAGI formation. The well will be drilled to a vertical depth of 2,977 metres. Shares rose 4% to 90p.

Highlands Natural Resources Plc (LON:HNR) has told investors that its arrangement with Renegade Oil & Gas Company LLC has been redrawn, and it sees HNR significantly enhance its land position in the Niobrara shale play in East Denver, Colorado.

The revised deal also gives HNR more operational flexibility, allowing the engineering team to save up to US$500,000 for every well it drills.

Shares in Asiamet Resources Limited (LON:ARS, CVE:ARS) were 3% higher at 4.32p on the back of some encouraging drilling results.

Resource infill and extension drilling being completed as part of feasibility studies on the Beruang Kanan Main (BKM) copper deposit in Central Kalimantan, Indonesia continues to substantially de-risk the resource that underpins the project.

ImmuPharma PLC (LON:IMM) has announced plans to raise a minimum £3mln from investors with the new cash infusion used to strengthen its balance sheet as negotiations take place with potential commercial partners for its flagship drug, Lupuzor.

The life sciences group has launched an accelerated book-build offering stock at 52p, a modest discount to last night’s closing price. Shares fell 6% to 54.1p.

Niche lender Private & Commercial Finance Group plc (LON:PCF) has kept its eye on the ball, even as it moves towards setting up its banking arm.

The group's primary objective is to complete full mobilisation of the bank and the project is on track for delivery this summer, chief executive officer Scott Maybury revealed in a statement released ahead of today's annual general meeting.

Clinigen Group PLC (LON:CLIN) and Eisai, its partner in South Africa,  have received approval for perampanel, a treatment for seizures associated with epilepsy.

The drug is the first anti-epileptic drug to be approved in South Africa for some time and will be the second that Clinigen has started to distribute through its partnership with Japanese company Eisai

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