Features …
88 Energy Ltd (LON:88E) told investors it has further expanded its footprint in Alaska’s North Slope through a bidding round. It comes as the explorer is preparing a drill programme that will see the Icewine-2 kick off in the first quarter of 2017.
Cancer treatment group Nanobiotix (EPA:NANO) has reported ‘excellent’ results from an early stage trial of its nanoparticle technology in liver cancer sufferers.
The strong lithium market bodes well for Bacanora Minerals Ltd (LON:BCN) and could almost treble the explorer’s net asset value per share (NAVPS), so says City broker Numis. Bacanora’s exposure to the metal comes from its Sonora lithium carbonate project in Mexico.
Sound Energy PLC (LON:SOU) said the gas pressure at its latest Morocco well correlates with what it’s seen elsewhere on the property as it provided some guidance on the potential scale of Tendrara licence.
UK tidal power pioneer Atlantis Resources Ltd (LON:ARL) has green lighted the next phase of development at the MeyGen project in the Pentland Firth offshore Scotland. In a stock market statement Atlantis told investors that the investment decision has now being made for the second phase project, referred to as Project Stroma.
Condor Gold (LON:CNR) has unearthed another very high grade sample at its scout drilling and exploration programme at La India in Nicaragua. A rock chip containing 142.2g/t gold was unearthed at the Los Limones prospect just 30m from a 53.9g/t sample found earlier.
Summit Therapeutics PLC (LON:SUMM, NASDAQ:SMMT) recognised just a small part of its £32.9mln up-front payment from Sarepta in the third quarter. Only £0.6mln of the payment was recognised during the three months ended 31 October 2016, the drug discovery and development company revealed in its fiscal third quarter results.
News …
China focused Green Dragon Gas Ltd (LON:GDG) has agreed an extension to a US$50mln convertible bond, setting a new maturity date of December 31 2020. Under the new terms the bond carries a 10% coupon and it is convertible into equity at a price of US$2.83 per share, which is about 25% above Green Dragon’s current price.
Clinigen Group PLC (LON: CLIN) said its Idis Global Access division has signed a deal with BioQ Pharma to sell the latter’s pre-filled Ropivacaine Readyfusor for post-operative pain management. The deal allows Idis to distribute the product here in Europe (with the exception of France and Germany) prior to official marketing authorisation.
Instem Plc (LON:INS) won’t have to make the final payment due for its 2013 acquisition of Logos Holdings after weak trading at the business meant it missed order targets. The final £0.7mln would have been due next year as part of the £5mln deal.
West African gold producer Avesoro Resources Inc (LONAUE) is making headway with its lenders after agreeing an extension to negotiate a new deal with its banks. The waiver and standstill deal runs to the end of January, by which time it hopes to have agreed a new financing package that would “re-profile” future debt repayments.
Marble quarries owner Fox Marble Holdings PLC (LON:FOX) announced it has processed its first block of Illyric White marble at its processing factory in Kosovo.The processing of marble in Kosovo is an historic first, as Fox Marble's factory is the first marble processing plant in the country.
StratMin Global Resources PLC (LON:STGR) has agreed to an immediate discounted cash settlement of the share payments due from Bass Metals Ltd. A Share Purchase Agreement had previously stipulated that Bass equity worth A$8mln was to be issued to StratMin in two tranches.
Medical diagnostics device maker Sphere Medical Holdings PLC (LON:SPHR) has appointed Proyectos Hospitalarios Internacional (Prhoinsa) as its exclusive distributor of products in Spain. Prhoinsa is well established in Spain as a distributor of a variety of medical devices, including a number in the critical care arena, Sphere said.
Haydale Graphene Industries PLC (LON:HAYD) said the integration of recently acquired Advanced Composite Materials (ACM) is proceeding as planned. In a speech at today’s annual general meeting, the company forecast ACM’s revenue from 13 October – the date when Haydale took ownership - to the end of the year should be in the region of US$1mln, adding that the business is on track to meet its budgeted sales for the current financial year.
Tertiary Minerals plc (LON:TYM) has had its application for a mining permit at the Storuman fluorspar deposit referred to the Swedish Mining Inspectorate for re-assessment. The re-assessment will take into account the Norra Karr mine permit ruling on the requirement for a wide-ranging environmental study.
Galileo Resources PLC (LON:GLR) has identified several potential drill targets after completing the geophysics survey on the Shirley Trend at its Concordia copper project in South Africa. The junior miner said the survey showed three high-chargeability zones from near surface to around 500 metres in depth, similar to those found in the Homeep Trend last month.
Petropavlovsk PLC (LON:POG) has completed the assessment of severe weather on its Andreevskaya mine in Russia’s Far East. The company has concluded that it would be prudent not to resume mining until the active layer of permafrost has set and strengthened the pit wall.
London listed cash-shell SigmaRoc Plc (LON:SRC) has announced a £45mln acquisition of LafargeHolcim subsidiary Ronez.To pay for the deal the company is concurrently raising £50mln through a placing - issuing 100mln new shares and 10mln convertible loan notes – which will also give the group working capital.