Eurasia Mining plc (LON:EUA) has had the reserves report and feasibility study for its Monchetundra palladium and platinum project approved by the Russian State Agency for Subsoil Use (Rosnedra).
Using Russian standard C1 and C2 categories, the reserves amount to 55.9 tonnes (1.9mln ounces) palladium equivalent (palladium and platinum) with major additional gold and base metal credits, at two open pits.
Futura Medical PLC (LON:FUM) said it is “delighted” by the “constructive feedback” proffered by regulators in both the UK and US reviewing the clinical trial requirements for MED2002, a breakthrough gel for erectile dysfunction (ED).
Crucially, written responses from America’s Food & Drug Administration and the Medicines & Healthcare products Regulatory Agency (MHRA) here in Britain support its timeline, which sees marketing approval for the product in the second-quarter of 2019.
Washington H. Soul Pattinson and Company Limited’s interest in Base Resources (LON:BSE) has decreased from 17.49% to 5.45%.
Gemfields plc’s (LON:GEM) board has advised shareholders against approving an offer by Pallinghurst Resources Limited to buy all the shares it doesn’t already own in the company. It said a review by an independent committee determined that the deal “significantly undervalues the company, its unique asset base and its leading position in the coloured gemstone sector”.
Bezant Resources plc (LON:BZT) is acquiring a plant that will be able to process alluvial ore from its Choco gold-platinum project in Colombia. Mining operations are expected to begin within the next couple of months
OPG Power Ventures PLC (LON:OPG), the developer and operator of power generation plants in India, traded in line with expectations last year. Meanwhile, operations in the current financial year have been going well, as the group prepares for the construction of the 62 megawatt (mw) Karnataka solar project, which is set to begin in the third quarter of 2017.
Deltex Medical Group plc (LON:DEMG) has been granted a new patent for its Combined Blood Flow and Blood Pressure Monitor for UK, Germany, France, Spain and Sweden. Coverage in the USA has been 'allowed' at this stage and the Company expects the US patent to be formally granted in the second half of the year.
Philippines-based gold miner Metals Exploration Plc (LON:MTL) has signed a loan agreement to borrow US $2mln from its two major shareholders, Runruno Holdings Limited ("RHL") and MTL (Luxembourg). The shareholders will provide funding on a pro-rata basis to their current shareholding.:
Pre-revenue explorer Landore Resources Limited (LON:LND) posted a loss of £1.72mln for 2016, versus a loss of £1.54mln the year before.
Development work has started on the Imweru gold project in Tanzania that Katoro Gold PLC (LON:KAT) is buying from Kibo Mining PLC (LON:KIBO). Kibo BP was September 2016.
Cadence Minerals PLC (LON:KDNC) boosted NAV from £19.58 mln at the end of 2015 to £35.42 mln at the end of 2016. The company said its two key assets, Sonora and Cinovec, could account for between 7% and 10% of global lithium supply by 2025.
European funding for its MeyGen tidal wave project in the Pentland Firth, offshore Scotland, will be unaffected by the UK’s Brexit decision Atlantis Resources PLC (LON:ARL) confirmed today. The second phase of development of MeyGen, now known at Project Stroma, has received EU backing to the tune of €37.3mln.
Gemfields plc (LON:GEM) said independent directors have advised shareholders against approving an offer by Pallinghurst Resources Limited to buy all the shares it doesn’t already own in the gemstone company. Shares fell 1.63% in morning trading as Germfields said a review by an independent committee determined that the deal “significantly undervalues the company, its unique asset base and its leading position in the coloured gemstone sector”.
Tlou Energy Limited (LON:TLOU) has chosen Aussie company Velseis to acquire seismic data for its Lesedi coal bed methane project and the adjacent Mamba permit in Botswana. The 250 km 2D seismic programme should start in the next quarter with the aim to boost gas reserves at both projects.
Horizonte Minerals Plc (LON:HZM TSX:HZM) has reported high grade nickel indications from a small trial drilling programme at its Araguaia project in Brazil. Jeremy Martin, chief executive, said the aim was to define an area with near surface transition and saprolite mineralisation that would be representative of the first five to eight years life at the nickel mine.
Sareum Holdings Plc (LON:SAR) has noted that its partner Sierra Oncology has been granted patents in the US and Europe that explicitly give greater protect for its anti-cancer Chk1 inhibitor candidate SRA737. Tim Mitchell, Sareum’s chief executive, said: "SRA737 is a valuable asset to Sareum through its licence to Sierra Oncology. We are pleased to see that patents to protect it have been granted in these major territories."
Union Jack Oil PLC (LON:UJO) has received approval from the Oil and Gas Authority for the acquisition of a further 3.33% interest in PEDL180 and PEDL182 from Celtique Energie Petroleum Limited. These licences contain the Wressle-1 discovery. Union Jack now holds a 15% interest in both licences following completion of this transaction.
Chaarat Gold Holdings Ltd’s (LON:CGH) 7.04mln ounce gold deposit was highlighted as a strategic asset for the Kyrgyz Republic at an investment forum co-hosted by the company