DiamondCorp PLC (LON:DCP) revealed the upside to cutting its own stones as it updated on progress at the Lace Mine in South Africa, which involved spending US$1mln on underground equipment.
The firm has what’s called a beneficiation joint venture, which took a 22.1 carat diamond and split it into two - a 7.2-carat emerald-cut diamond and a 0.9-carat pear-shaped stone.
In other news, Faron Pharmaceuticals Ltd (LON:FARN) filed two patents to protect a drug it is developing that uses the body’s own immune system to kill cancer.
Faron’s treatment Clevegen binds to the Clever-1 cell surface receptor and converts the environment around a tumour from being suppressive to immune stimulating, allowing immunotherapy drugs to take effect.
Over at US Oil & Gas (LON:USOP), it raised just shy of US$800,000 through its open offer share sale to existing shareholders.
In a statement USOP confirmed that the open offer closed yesterday and the company received acceptances for some 1.69bn new shares, representing around 15.75% of the new shares on offer.
Meanwhile Independent Oil and Gas PLC (LON:IOG) confirmed that an agreement had been signed for the acquisition of the 50% stake in the Blythe gas discovery that it doesn’t already own.
With full control of the project IOG is better able to advance efforts to develop the Blythe project.
Over at Utility cost management consultancy Utilitywise plc (LON:UTW) ,it renegotiated more favourable terms with another key energy supplier, securing a cash boost in the process.
The new deal was announced alongside a solid set of interim results that saw the company's key performance indicators heading in the right direction, while the company has also unveiled a couple of changes at board level.
Elsewhere, Hydrogen fuel group ITM Power (LON:ITM) will receive a grant of just over €915,000 as its share of an award to develop a new generation of energy convertors.
Over at Workforce management software group ServicePower Technologies PLC (LON:SVR), it has been awarded a new three year US$750,000 contract by an existing client. The software will allow the customer to monitor the performance of field operatives.
An update on Westminster Group PLC (LON:WSG) as it anticipates new repair work will begin soon for its ferry in Sierra Leone.
In a stock market statement this morning Westminster told investors that it had been advised that works on the vessel should be completed this week.
Collagen Solutions PLC (LON:COS) agreed a supply with Merck Ag to use the pharma giant’s network to distribute its medical-grade collagen products.
The med-tech group is developing a range of medical implants and the arrangement with the German major would also make its products available to the research market.
And finally, Rare Earth Minerals plc (LON:REM) announced the appointment of emeritus professor Ken Collerson to the newly formed Lithium Advisory Board of its subsidiary Macarthur Minerals. The board will provide technical advice to Macarthur Minerals for the development of its lithium projects.