Summit Therapeutics PLC’s (LON:SUMM, NASDAQ:SMMT) new antibiotic for Clostridium difficile infection (CDI) has been shown to have further major benefits over the gold-standard treatment.
The ongoing phase II CoDIFy trial of ridinilazole has indicated it is more effective at preserving gut microbiome of patients than the go-to drug vancomycin.
The prodigious cash generation of Photo-Me International plc (LON:PHTM) has prompted the photo booths operator to declare a £10.6mln special dividend as well as allowing it to hike the annual payout by a fifth. The company, which is also rolling out laundry services, has also committed to increasing the divi by 20% next year and the year after.
Final results revealed Photo-Me’s cash balances grew to £62.4mln from £60.7mln even after investments and shareholder distributions totalling £43.4mln. Investors will receive 5.86p a share and a one-off payment of equivalent of 2.82p.
Chaarat Gold’s (LON:CGH) deadline to submit the development proposal for its gold mine in Kyrgyzstan has been extended by two years. The Kyrgyz government has approved an extension to December 2018, from December 2016, to the time by which regulatory approvals for the project's development have to be obtained.
Atlantis Resources Limited’s (LON:ARL) flagship MeyGen project is now connected to the 33 kilovolt (kV) Ness of Quoys distribution network. The major technical milestone was achieved following the successful installation of one of the longest underground 33kV power export cables in the UK by the network operator, Scottish Hydro Electric Power Distribution.
Technical work on its Mbeya thermal power station project in Tanzania is fast drawing to a close, Kibo Mining PLC (LON:KIBO) said. At the power plant, following an update to the definitive feasibility study last month, the specification for the engineering contract has been completed and the pre-bid procedure agreed with Chinese partner SEPCOIII.
Strategic Minerals PLC (LON:SML) has raised £429,000 to fund exploration at Hanns Camp and move forward with its tungsten project in Cornwall. Shares were issued at 0.3p and the money will allow it to make the initial payment on NAE Resources (Redmoor) in Cornwall and costs of the drilling for nickel currently underway at Hanns Camp in Western Australia.
Aureus Mining (LON:AUE TSX: AUE) has received the first tranche of a US$30mln finance package from Turkish conglomerate MNG Gold. The US$15mln will fund the restart of processing at the New Liberty mine in Liberia following the recent approval of remedial work to the tailings circuit.
Nostra Terra Oil and Gas Company plc (LON:NTOG) and Independent Resources plc (LON:IRG) told investors they are on track to start receiving a revenue share from the recently acquired stake in the East Ghazalat operation in Egypt.
A jointly owned vehicle, called Independent Resources Egypt Limited or IRE, has now been formally registered with the Egyptian General Petroleum Corporation.
Independent Oil and Gas Plc (LON:IOG) has announced the completion of its deal to take full control of the Blythe gas project, in the Southern North Sea. It has now acquired the 50% of Blythe that it didn’t already own, paying £1.5mln initially with a further US$5mln due when the field achieves ‘first gas’.