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Proactive news snapshot: Circassia Pharma, Frontier IP Group, Pembridge Resources, MTI Wireless Edge, Tharisa …

A glance at some of the day's highlights from the Proactive Investors newswire

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Circassia Pharmaceuticals PLC (LON:CIR) shares jumped higher on Friday afternoon after news private equity firm CIP Merchant Capital Ltd (LON:CIP) has bought over a 3% stake in the company. In a statement, the investment firm said it has acquired 12.8mln shares in Circassia, a specialty biopharmaceutical company focused on allergy and respiratory diseases, for £2.8mln. That represents 3.4% of Circassia's issued share capital, Circassia now constitutes the CIP's seventh portfolio company.

Frontier IP Group PLC’s (LON:FIPP) portfolio company, Exscientia has signed a collaboration deal worth up to £203mln (€240mln) with German pharmaceutical giant Bayer focused on oncology and cardiovascular disease. Under the terms of the deal, Exscientia will initially work on three projects focused on accelerating the discovery of small molecule drugs using its Centaur Chemist platform, which uses artificial intelligence to identify new drugs.

Pembridge Resources Plc (LON:PERE) told investors it has received its third payment under its offtake agreement with Sumitomo. The latest payment, US$5.4mln, follows the first and second Sumitomo payments which came in November and December respectively.

MTI Wireless Edge Limited (LON:MWE) has secured an additional order to an existing contract, worth around US$0.6mln. The contract is for the manufacture of military aerials and follows on from a US$1mln order received in March 2019, worth US$1mln, that was to be delivered over 40 months; the additional order announced today is to be delivered within the next 12 months.

Tharisa PLC (LON:THS) chief executive Phoevos Pouroulis described a “solid operational performance” as the company reported on the three months ended 31 December 2019. The Cypriot firm with mining assets in South Africa, in a statement, told investors that it mined 1,143 tonnes of ore and milled 1,247 tonnes during the quarter.

Avation PLC (LON:AVAP), the commercial passenger aircraft leasing company, said it has completed the purchase of its first engine, which is now available for lease as a spare engine to commercial aircraft operators. In a statement, the firm – which is currently carrying out a strategic review of its business – pointed out that the acquired engine is virtually new having only completed 54 hours and is a Pratt and Whitney Canada PW127M.

Mkango Resources Ltd (LON:MKA) (CVE:MKA) confirmed it has bought a stake in a company that has developed a technology to recycle rare earth magnets. Its subsidiary Maginito has taken a 25% stake in HyProMag for £300,000 and has an option to take this up to 49% for a further £1mln. Maginito has developed a patented method for extracting and demagnetising neodymium iron boron alloy powders from magnets embedded in scrap and redundant equipment.

European Metals Holdings Limited (LON:EMH) (ASX:EMH) has raised £350,000 via a share placing at 15.25p a share. In total, 2.3mln shares were placed with new and existing UK investors. The company said the funds would be used to further the development of the Cinovec project, the lithium asset in the Czech Republic.

Wishbone Gold PLC (LON:WSBN) said that, following EGM approval on Friday, the group’s capital reorganisation - which will see each 100 existing ordinary shares become one consolidated share, and in turn, each consolidated share will be sub-divided into one new ordinary share of 0.1p par value and one deferred share of 9.9p - will be undertaken on 20 January 2020 at 6.00pm and will be effective on AIM from 8.00 am on 21 January 2020.

 -- Updates with Circassia Pharma, Wishbone Gold --

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