Keras Resources (LON:KRS) – CORP*: Placing
Market Cap: £6.4m; Current Price: 0.38p
From yesterday: Raises £530,000
Keras Resources has raised £530,000 through the issue of 151,428,560 at a price of 0.35p per share, and the grant of 75,714,280 warrants exercisable at 0.5p per warrant. The warrants have an exercise period of two years.
NORTHLAND CAPITAL PARTNERS VIEW: Keras Resources will use the £0.5m raised to support the planned listing of Keras' Australian gold assets on the Australian Securities Exchange, commence cobalt exploration in West Africa upon the award of the licence and initiate a review of the feasibility study for the Company's Nayega manganese project located in Togo.
Botswana Diamonds (LON:BOD) – SPECULATIVE BUY*: Licence award
Market Cap: £5.8m; Current Price: 1.5p
Six new licences awarded in Botswana
Botswana Diamonds’ joint venture company with Alrosa has been awarded six new prospecting licences, located in Botswana.
The licenses were issued for a period of three years ending 30/03/20.
Four licences are within in the Central Kalahari Game Reserve coving an area of 3,135km2, located close to the Gope Diamond Mine and the projects held by the Maibwe Joint Venture.
The other two licences are located in the Orapa region coving an areas of 482km2. Northeast of Debswana's Letlhakane Mine
An Alrosa team of geologists and mineralogists have arrived in Botswana to commence the 2017 field exploration programme that will focus on sampling and geophysical studies on PL 260 in Orapa and PL 135, 235 and 234 in the Gope area.
NORTHLAND CAPITAL PARTNERS VIEW: Positive news for Botswana Diamonds and its joint venture partner, Alrosa has been awarded six new prospecting licences in the Central Kalahari Game Reserve and Orapa region of Botswana. The four Central Kalahari Game Reserve licences were selected based on geophysical and kimberlite indicator anomalies, some of which are contiguous with existing pipes. While the Orapa Licences were selected as they contain unexplained anomalies
Port Erin Biopharma (LON:PEBI): Redemption for £1m
Market Cap: £1.5m; Current Price: 7p
Redemption of holding in the Magna Biopharma Income Fund for £1m
Port Erin Biopharma (PEBI) announced that it will redeem for cash its entire holding of 87,125.729 units in the Magna Biopharma Income Fund (MBIF).
Port Erin's holding in the MBIF was valued at £1,038,704 at 31 March 2017.
This follows the decision by the Magna Umbrella Fund plc to close the MBIF.
As a consequence, Port Erin will receive approximately £960,000 in cash which the Company intends to deploy in the biopharma sector.
NORTHLAND CAPITAL PARTNERS VIEW: A positive development for PEBI, generating c. £1m of cash which the group can redeploy into new investments. PEBI trades at a significant and unwarranted discount to NAV. With £1m of cash now at its disposal, this discount appears even less justified.