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Morning Report: SDX Energy’s OYF-2 well in Morocco hits commercial gas quantities

Headlines from the Proactive UK newsroom.

SDX Energy’s (LON:SDX) OYF-2 well in Morocco has encountered commercial quantities of gas in excess of pre-drill estimates. The discovery also confirmed the company's core productive area extends to the north.

Avacta (LON:AVCT) has demonstrated initial proof-of-concept for its new class of drug conjugate in a preclinical cancer study. In a mouse tumour model, Avacta’s first TMAC drug conjugate outperformed a rival antibody inhibitor developed by Merck and Pfizer.

IronRidge Resources (LON:IRR) has published a JORC resource of 14.5 mln tonnes of lithium at a grade of 1.31% for its Ewoyaa and Abonko deposits in Ghana. The central portion of the Ewoyaa Main deposit also has the characteristics required for a starter-pit operation, the company says.

Sainsbury's is to spend £1bn turning itself carbon neutral by 2040. The supermarket says it will reduce carbon emissions, food waste, plastic packaging, water usage and increase recycling, biodiversity and sustainable eating to achieve the goal.

Just Eat is to become a delivery partner for McDonalds just two weeks after it was chosen to be Greggs exclusive partner and after it agreed to merge with Dutch group Takeway.com. Underlying profits in 2019 will be around £200mln and revenues £1bn.

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