Shares of Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) surged 5% on Tuesday after the company launched a pilot operation using material from stockpiles at its South African operation.
In an interview, CEO George Bennett affirmed Rainbow's status as a "fully de-risked company", poised to churn out its first mixed rare earth sulphate by the third quarter.
OKYO Pharma said patients are being dosed in a randomise portion of a phase 2 trial for its OK-101 drug to treat dry eye disease (DED).
The ophthalmology-focused biopharmaceutical company said in a statement that patients are being dosed in the phase 2 trial following a two-week placebo run-in period, which is designed to minimise the placebo effect.
Mosman Oil and Gas Ltd (AIM:MSMN) has updated on its US operations, noting that production across all sites remains steady and internal estimates indicate that gross production in April 2023 reached 6,951 barrels of oil equivalent (BOE), with 2,936 BOE net to Mosman.
However, the daily average net production of 101 BOE was lower compared to the previous quarter, primarily due to workovers at the Cinnabar-1 site. The company clarified that these interim production figures are subject to change pending final sales invoices and adjustments.
Ariana Resources PLC (AIM:AAU), a mining company with a strong focus on gold projects in Turkey, has set ambitious goals to elevate its status to a mid-tier developer.
The company's managing director, Kerim Sener, said: "As part of this process, we are going to pursue support from investors from further afield and will be marketing the company accordingly.
Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) has achieved a significant milestone in its development with the start of operations at its Phalaborwa pilot plant in South Africa.
Poised to produce its first high-value mixed rare earth sulphate by the third quarter, this development cements Phalaborwa's status as an important producer of magnet rare earths, vital ingredients in the growing green economy, the company said.
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) has raised £3.15mln of new capital through a share placing and subscription, with the proceeds earmarked for operations at its flagship project in the Paradox basin, in Utah.
It will pay for the upcoming production test from the State 36-2 LNW-CC well along with future infrastructure and gas processing facilities.