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Northland Capital Partners View on the City - Keras Resources (LON:KRS); Salvarx Group (LON:SALV); Connemara Mining Company (LON:CON)

Published: 11:57 09 Mar 2018 GMT

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SECTOR: MINING; HEALTHCARE

 

From Yesterday: Calidus Update

 

NORTHLAND VIEW

  • Calidus Resources, a company that Keras holds 458.375 shares in, has announced the completion of a Regional Target Generation Study over the Company's Warrawoona Gold Project, located in Australia.

  • Over 45 exploration targets have been generated and these will be ranked and evaluated in 2018.

  • Drill programmes being prepared with the aim of expanding the JORC 2012-compliant Mineral Resource Estimate of 712koz at grade of 2.11g/t gold (Au).

 

Understandably, Calidus Resources had to date been focusing its efforts on expanding the JORC 2012-compliant Mineral Resource Estimate at the Warrawoona Gold Project, where it could add ounces by targeting its drilling in areas around the pre-defined mineralisation. Now the Company is in a position to spend more time assessing the regional potential of the project, something that hasn’t been done in the area for 30 years, as it also continues to expand the current JORC 2012-compliant Mineral Resource Estimate at Project

 

 

COMPANY DESCRIPTION

Keras Resources is an exploration company with interests in gold projects, located in Australia, a manganese project and a cobalt-nickel project, located in Togo.

 

 

From yesterday: Drug Pipeline Progress and iOx Loan Note Issue

 

NORTHLAND VIEW

  • SalvaRx announced a business update regarding its portfolio of companies.

  • iOX Therapeutics (SalvaRx owns a 60.5% stake) has been granted patents covering the lipsosmal formulation of its iNKT agonist, a potential activator of anti-tumour immune responses. IMM60, the Company’s first treatment, looks to enter clinical trials later this year, supported by a collaborative research agreement from Oxford University. iOx’s second therapy, IMM65, is making good progress in generating a final formulation. This study is supported by a Horizon 2020 grant.

  • To fund the ongoing R&D activities, iOx has issued US$1m of unsecured convertible loan notes (‘Notes’). Portage Biotech (CSE: PBT.U), a Canadian biotechnology company is subscribing for US$0.95m, with Oxford Sciences Innovation plc (an existing iOx shareholder) subscribing for the balance of the Notes. Jim Mellon, Greg Bailey, Ian Walters and Kam Shah are directors of the Company and Portage, therefore the subscription by Portage is deemed a related party transaction under the AIM Rules.

  • Intensity Therapeutics (SalvaRx owns an 8.5% stake) has been granted a US patent covering the use of its novel cell-penetration enhancers with anti-cancer therapies. Intensity is performing a Phase 1/2 trial testing its novel intra-tumoural agent, INT230-6, in solid tumours. The trial will continue to generate safety and potentially preliminary efficacy data.

The Group continues to make substantial progress across all aspects of its business and is focusing on gathering more safety and efficacy data in cancer patients over the course of 2018. The Group’s other portfolio companies (Nekonal, RIFT and Saugatuck Therapeutics) continue to test their technologies in tumour models and are expected to nominate full development candidates shortly. SalvaRx is evolving as a clinical stage immune-oncology company at a time where there is strong interest in early stage immuno-oncology assets.

 

 

COMPANY DESCRIPTION

SalvaRx Group plc is a drug discovery and development company focused on the area of cancer immunotherapy.

 

Stonepark Zinc joint venture resuming work

 

NORTHLAND VIEW

  • Connemara Mining (23.4%) and joint venture partner Group Eleven Resources (76.6%) will shortly recommence drilling at the Stonepark Zinc Project, located in Ireland.

  • Connemara is allocating £250,000 to cover expenditure at the project for the next 12 months.

 

Group Eleven Resources has already completed detailed ground gravity survey and ionic leach soil sampling programme at the Stonepark Zinc Project and will be participating in an airborne Tellus survey due to commence in May-18. The drill programme, due to commence in a few weeks, will focus on expansion and confirmatory drilling initially focusing at the Stonepark North Prospect.

 

 

COMPANY DESCRIPTION

An Irish focused exploration company with interests in gold and zinc-lead projects.

 

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