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Frontier IP Group 69.5p £35.22m (AIM:FIPP)
The Specialist in commercialising intellectual property, notes that portfolio company Exscientia, a world leader in AI-driven drug discovery, has entered into a collaboration with US research centre SRI International to expedite discovery of selective molecules for a high value oncology target.
The collaboration will see the two companies implement a new approach to drug discovery by integrating SRI's fully automated synthetic-chemistry system with Exscientia's Centaur ChemistTM system.
Petrotal 6.5p £43.8m (LON:PTAL)
The Northern Oil Pipeline (ONP) operated by PETROPERU S.A. has been shut down by a public health directive from the Peruvian government, thereby resulting in PetroTal having to shut in the Bretana oil field as a result of storage capacity limitations. Additionally, PetroTal provides an update on financing initiatives to accommodate the impact of oil price reductions occurring from oil sales at the Bretana oil field in Block 95 in Peru.
· The Company's planned capital expenditure for 2020 continues to be deferred;
· Reduce compensation for Management and Directors by 20%;t
· Oil field shutdown will trigger significant cost reductions of operating, transportation and general and administrative costs;
Resulting from the global oil price reduction, the Company has a contingent derivative liability of $42 million at March 31, 2020;The actual liability of the oil price difference determination is expected to be lower due to the projected improvement in oil prices when physical sales occur in Q3 and Q4, and;PetroTal advises of financing discussions for a multi-year settlement of the contingent liability.
Best of the Best 530p £49.7m (AIM:BOTB)
The online organiser of weekly competitions to win cars and other lifestyle prizes, updated for the 12 months ended 30 April 2020 . The Company's financial performance throughout the Period, and particularly the second half, continued to be strong. As a result, the Board now expects to report full year revenue and profit ahead of current market expectations.
The Board looks forward to updating shareholders in further detail on progress and guidance for the current financial year ending 30 April 2021 upon publication of its final results for the year ended 30 April 2020, which the Board expects to announce on 25 June 2020.
Anglo African Oil & Gas 0.825p £3.85m (AIM:AAOG)
Anglo African Oil & Gas PLC notes the recent rise in its share price (more than doubled since the beginning of May) and confirms that it knows of no reason for this movement. As announced on 1 May 2020 the Company has completed the sale of Anglo African Oil & Gas Congo S.A.U to Zenith Energy Limited on the terms set out in the announcement of 17 April 2020.
Katoro Gold 2.55p £5.8m (AIM:KAT)
Results of the scoping study completed in respect of the Company's Blyvoor near term gold production opportunity. The Study demonstrated an unlevered Project Net Present Value ('NPV5') of US$131million, a 25% Internal Rate of Return and a Return on Investment of 260%
· Mine life of 25 years building to a production capacity of 500,000 tons per month and 35,000 ounces of gold production per annum. Overall production of 661,171 ounces of gold over the 25 years, generating revenue of US$992m
· Low cost operation with an estimated All-in Sustaining Cost of US$727 per ounce of gold and an All-in Cost of US$920 per ounce of gold. Total Project capital costs of US$110m across the life of the Project, with peak funding requirement of US$36.4m
ReNeuron 160p £50.9m (LON:RENE)
New positive data relating to its CTX cell therapy candidate have been published in the leading peer-reviewed scientific journal Stem Cells, in a paper entitled "Implantation of the clinical-grade human neural stem cell line, CTX0E03, rescues the behavioural and pathological deficits in the quinolinic acid-lesioned rodent model of Huntington's disease".
The new data show for the first time that ReNeuron's CTX human neural stem cell line can rescue deficits associated with an accepted animal model of Huntington's disease, a progressive genetic brain disorder.
Crimson Tide 2.6p £11.9m (AIM:TIDE)
FY Dec 19 results.
· Revenue increased by 22% to £2,921k (2018: £2,398k)
· EBITDA increased by 57% to £775k (2018: £492k)
· Profit before tax increased to £352k (2018: £69k)
Operational Highlights
· Full introduction of the rail vertical market · Significant contract renewals and development with leading supermarkets · Introduction of a fully featured API across the mpro5 platform · Expansion of future contracted revenue book · Increased pipeline
Phimedix 13p £4.5m (LON:PHM)
Strategy update. On 11 March 2020, Phimedix became an AIM Rule 15 cash shell. The Board is of the view that, even in the current environment, there are potential acquisition opportunities in the technology and life sciences sectors in particular and has decided to focus its efforts initially in these two areas. However, as yet, no discussions have started between the Company and any potential targets.
Filta Group 124p £36.1m (FLTA.L)
The provider of fryer management and other services to commercial kitchens, announced the UK launch of FiltaShield, a new sanitising service to help businesses combat and prevent the spread of Coronavirus (COVID-19).
Working closely with industry experts and specialist chemical suppliers, Filta is extending its range of environmental services and deploying an approved, laboratory-tested Coronavirus sanitising solution, which is effective against all enveloped viruses, killing them within minutes. The anti-viral solution, which has been developed for use in restaurants, bars, shops, offices as well as healthcare facilities, is applied to a surface by spraying or fogging, leaving behind a mono-molecular layer that bonds to the surface and protects surfaces for up to 30 days.
C4X Discovery 14.5p £15.7m (AIM:C4XD)
The Drug Discovery company, today announces a proposed Placing of Placing Shares with existing and new institutional investors to raise a minimum of approximately £1.0 million in aggregate before expenses at the Issue Price of 15 pence per Placing Share. The net proceeds of the Placing will be used to further strengthen its balance sheet as partnering and strategic collaborations progress, and to support working capital during the progression of its pipeline portfolio. The net proceeds of the Placing are expected to provide the Company with at least twelve months working capital.
*denotes a corporate client of Hybridan LLP
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derren.nathan@hybridan.com