Emmerson PLC (AIM:EML)’s focus for the remainder of 2024 will be to obtain the environmental project for the Khemisset project in Morocco, putting in place a new agreement with its strategic investors and finalising optimisation work ahead of a bankable study, says house broker Liberum.
Hopes that the environmental permit would be in place by now were dashed by the devasting earthquake Morocco suffered in September, with the ensuing delays meaning the strategic financing arrangement currently in place will lapse, says the broker.
Shares of N4 Pharma PLC (AIM:N4P) advanced 9% in early trading following the announcement of significant advancements in its research on Nuvec, a delivery system for cancer treatments, gene therapy and vaccines.
N4 Pharma, working with Brunel University, found that when its discovery Nuvec is combined with a specific virus used in gene therapy (Adeno-Associated virus 8, or AAV8), it works 2.5 times better than the virus alone in laboratory tests.
Emmerson PLC (AIM:EML) said it has completed most of the planned optimisation workstreams ahead of the start of development at the Khemisset potash project in Morocco and now is waiting for final environmental approval to move forward.
Bank mandates for project financing have been extended until the end of 2024 with the debt funding under discussion totalling US$310 million.
Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) has commenced drilling at the Itumbula West-1 well in Tanzania targeting two major fault zones and the Karoo play.
The drilling process will also involve mudlogging by Geolog to monitor helium gas shows and a portable mass spectrometer for measuring and validating these shows.
Cordiant Digital Infrastructure Ltd (LSE:CORD) has announced that its Czech portfolio company České Radiokomunikace (CRA) has completed the acquisitions of the cloud services and data centre businesses Cloud4com and DC Lužice from Aricoma.
CRA first disclosed the acquisitions last month as part of a strategic advancement into the rapidly expanding Czech data services market. They also align with Cordiant’s ‘Buy Build and Grow’ business model.
Arecor Therapeutics PLC (AIM:AREC) said it is expanding its exclusive hospital formulation collaboration with an unnamed chemicals pharma company.
The partnership, initiated in November 2022, is focused on developing a unique, ready-to-use liquid formulation of the drug AT351 using Arecor's Arestat technology.