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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: 88 Energy, Caledonia Mining, FairFX, Minds + Machines and more...

Sareum Holdings plays down a recent report, Eurasia Mining agrees a refining contract and Minds + Machines is seeing exceptional growth.

We start with the news that Power producer Rame Energy PLC's (LON:RAME) non-exec director Andrew Cameron is stepping down with immediate effect in order to focus on a full time executive role.

Next, Horizon Discovery Group PLC (LON:HZD) has issued 842,128 new shares to the owners of Haplogen Genomics after the terms of the first earn-out were satisfied. Haplogen was acquired by Horizon in January 2015.

Vast Resources (LON:VAST) said it will repay the £325,000 principal plus interest due to Darwin Capital Ltd at the end of this month, amounting to 50% of the Darwin Bridge loan note announced in May and July this year.

"The company continues to evaluate options to replace the cancelled Crede financing following the company's general meeting announced on 1 July 2016 as it moves forward confidently towards full implementation of its ambitious expansion plans," said Vast chief executie Roy Pitchford.

Over at life sciences tech group TyraTech Inc (LON:TYR), its head lice shampoo product Vamousse is continuing to gain market share and sales were as expected in the first half.

In other news, ValiSeek Limited, the joint venture between ValiRx Plc (LON:VAL) and Tangent Reprofiling Limited, has received notification of a New Zealand patent grant allowance.

The patent, granted in the US as patent US9072743 on 14 May 2015, covers both the formulation of VAL401 and its use as a treatment against hormone-related cancers, including lung cancer.

Elsewhere, Sareum Holdings Plc (LON:SAR) has played down a report by the Institute of Cancer Research on a treatment the two organisations are developing jointly.

Shares in Sareum jumped nearly 20% yesterday as investors latched onto an article by the ICR that was published in Molecular Cancer Therapeutics earlier this month.

Over at Eurasia Mining plc (LON:EUA), it agreed a refining contract for its West Kytlim alluvial platinum project in the Urals, Russia.

Ekaterinburg Non-ferrous Metals Processing Plant (EZOCM), part of the Renova Group, will both process black sand concentrates from West Kytlim and buy the bullion produced.

Meanwhile, Savannah Resources Plc (LON:SAV) has started exploration at its two new lithium projects in Finland, Somero and Eräjärvi, after there were no objections from local land owners.

An initial exploration programme is expected to take 8-10 weeks and comprise mapping, surface rock chip and channel sampling that will target pegmatites with known lithium minerals.

Caledonia Mining Corporation PLC (LON:CMCL, TSX:CAL) has unveiled a significant upgrade to the resource base of its Blanket Gold Mine in Zimbabwe.

Following a drilling programme, 343,000 tonnes have been upgraded from the inferred to the higher-confidence indicated resource category.

Over at Alaska-focused oil shale group 88 Energy Ltd (LON:88E), it said permitting is well on track to be completed before the spud of the Icewine#2H well earmarked for the first quarter of 2017.

The well will be the second on 88 Energy's acreage in Alaska, which now stands at 210,250 acres net to the firm, after the first well showed "excellent" core results, according to the group.

Minds + Machines Group Limited (LON:MMX), the owner and operator of internet top level domains (TLDs) is seeing exceptional growth in new generic TLDs.

Billings in the first half of 2016 soared to US$8.05mln from US$2mln in the corresponding period of 2015.

And finally, shares in FairFX Group Plc (LON:FFX), the currency payments specialist, kicked higher on Thursday as it revealed an exciting new two-year deal with Premier League champions Leicester City.

The outright underdogs last season took delighted fans by surprise with their David and Goliath story to clinch the title. Now the club is in Europe and embarking on its first season in the Champions League.

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