88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) shares advanced on Monday thanks to the latest encouraging results from Alaska, where drilling has now reached a successful conclusion.
The Hickory exploration well, on Alaska’s North Slope, successfully encountered all its primary and secondary targets, plus one additional zone that was not anticipated prior to drilling.
Chesnara has a “robust” capital deployment framework, said the Royal Bank of Canada (TSX:RY), which kept its 350p target price and 'outperform' rating.
In a management presentation to analysts, Chesnara said it expects to have £150mln of cash in the first half of 2023, with £100mln of this for deployment with a £50mln buffer.
Shore Capital analysts have reiterated their buy rating for Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF), a technology provider to theme parks and visitors attractions, following today’s impressive trading update that underscored a revenue beat and strong cash flows.
Shore cap upgraded its cash EBITDA for full-year 2023 by 7% to $24mln, with a forecast of 6.6% revenue growth.
Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF)’s full-year trading statement released on Monday, April 3 was in line with expectations laid out in February, house broker Peel Hunt today stated.
Pre-tax profits hit £3.5mln in 2022, up 224% from £1.1mln in the previous year, as sales shot up by 27% year-on-year to £18.7mln.
Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF), the Slingo mobile game producer, saw profits more than double in 2022 thanks to a strong performance in the firm’s licensing business and more US states opening up to gaming.
Pre-tax profits hit £3.5mln in 2022, up 224% from £1.1mln in the previous year, as sales shot up by 27% year-on-year to £18.7mln.
IXICO PLC (AIM:IXI, OTC:PHYOF) said it has secured additional contract orders to support completion of the retrospective analysis of over 6,000 imaging datasets through the Huntington's Disease Imaging Harmonization Consortium (HD-IH).
Huntington's Disease (HD) is a rare, inherited neurodegenerative disease that causes the progressive breakdown of nerve cells in the brain affecting movement, mood and thinking abilities. There are no existing approved disease-modifying therapies for HD, nor interventions that slow disease progression.
NextEnergy Solar Fund Ltd (LSE:NESF) announced on Monday that Helen Mahy has joined its board as a non-executive director and will step up as chair from August this year.
FTSE 250-listed Next Energy said it was “pleased to formally welcome” Mahy, who currently sits on the board at SSE PLC (LSE:SSE) and chairs its safety, sustainability, health and environment advisory committee.
Kodal Minerals PLC (AIM:KOD) said a total of 41 reverse circulations and 18 diamond drill holes have been completed at its Bougouni Lithium Project in southern Mali, highlighting the "potential for expansion."
The drilling totalled 6,360 metres (m) and was focused on the development and extension at the Ngoualana prospect.
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) told investors that its Rio Cravo Esta-5 well, in Colombia, has reached target depth and has encountered six hydrocarbon bearing intervals which together total around 90 net feet of oil pay.
The company, in a statement, said some 36 feet of net oil pay was recorded in the Carbonera C7 interval, whilst 54 feet of oil pay was measured in the Lower Gacheta interval.
Tirupati Graphite PLC (LSE:TGR, OTCQX:TGRHF) said it has successfully completed the acquisition of Suni Resources SA, a Mozambique-incorporated subsidiary of ASX-listed Battery Minerals Limited on 1 April 2023.
In a statement, Shishir Poddar, executive chairman of Tirupati Graphite (TG), commented: "We are delighted to announce the completion of the acquisition of Suni Resources. This strategic acquisition will see us materially strengthen our existing portfolio through the addition of two world-class graphite assets located within one of the largest commercially operating global flake graphite projects.
Powerhouse Energy Group PLC (AIM:PHE) (PHE) said it is holding discussions with partner Peel Holdings to acquire the whole of the special purpose vehicle (SPV) that will run the Protos Park project at Ellesmere Port.
Originally, Powerhouse was slated to take a 50% stake in the waste-to-energy development but "the structure that seemed optimal four or five years ago is not necessarily the case today," said Keith Riley, PHE's acting chief executive.
NetScientific PLC (AIM:NSCI) said the main focus for 2023 will be progressing its portfolio companies through the platform, creating value and fees, and moving closer to exits and liquidity.
In 2022, the investment and commercialisation group focused on life science, sustainability, and industrial technology companies. It expanded its portfolio to 24 companies and expects a significant increase in fair value as of 31 December 2022.
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) shares strengthened some 22% in Monday’s early deals after telling investors that it has reached total depth in the Hickory-1 exploration well in Alaska, which has now encountered three further secondary targets.
The company, in a statement, followed up last week’s encouraging initial results – which confirmed the well’s primary targets – with today’s update detailing the presence of at least three more zones which either met or exceeded expectations.
hVIVO PLC hailed as “another clear demonstration of the value of human challenge trials” the positive interim results from an ongoing phase IIa study of Cidara Therapeutics’ new flu jab.
The long-acting antiviral drug CD388 was benchmarked using hVIVO’s H3N2 influenza human challenge study model.