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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Pharma & Biotech

Proactive news highlights, including SolGold, W Resources and Challenger Acquisitions

A mixed news bag but small cap miners appeared to be out in force

A mixed bag but miners played their part.

Well-followed potash project developer Sirius Minerals PLC (LON:SXX) said it now has all the major approvals required for the scheme.

Its plans for the harbour facilities for the North Yorkshire Polyhalite project have now received government approval.

From fertiliser to tungsten, and W Resources (LON:WRES) saw shares shoot up as it said it was to run its La Parrilla tungsten mine in Spain at double the capacity previously indicated following an optimisation study.

SolGold plc (LON:SOLG) told the market of some good news at its Cascabel copper-gold project in Ecuador after a reporting error means the latest assay results for one of its drill holes was better than initially thought.

The correction to Hole 17’s results increases the high grade intersection to 150m at 1.64% copper and 2.05 grams per tonne (g/t) of gold (3.36% copper equivalent).

Elsewhere specialty pharma group Clinigen Group PLC (LON:CLIN) enters its new financial year in an "excellent" position, it said, as its integration of last year's acquisitions - medicine providers Idis and Link are substantially complete.

Revenue and gross profit for the year to June 30 were lifted by 87% and 90% respectively, compared to the previous year.

To broker news and if Lupuzor, the Immupharma PLC (LON:IMM) drug, is approved, it could achieve multi-billion dollar sales a year, suggests house broker Northland today.

It is a potential blockbuster, said the broker, which targets 171p for the share, underlining the potential upside, since the shares are currently at around 35p.

What's more, as well as for life-theatening auto-immune disease Lupus, the drug has also shown promise in several other major chronic inflammatory indications.

Elsewhere, in the commodity world, Independent Oil and Gas Plc (LON:IOG) expects drilling to start on the Skipper appraisal well on Friday (22 July).

The Transocean Sedco 704 semi-submersible drilling rig is now on contract, and it is being towed to the drilling location.

Drilling operations are expected to last around 22 days, meaning initial results will be anticipated by mid-August.

Observation wheel specialist Challenger Acquisitions Limited (LON:CHAL) told investors that the US$590mln New York project, which it has a 2% stake in, is now fully funded through to completion.

As a result, the company has received US$1mln from New York Wheel Investor LLC (NYWI) – the company set up to fund the equity component of the project.

The US$1mln was originally raised by Challenger back in January and was held in escrow by NYWI until it had received sufficient funding from its sponsoring investors.

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