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Proactive news headlines: Galantas Gold, EQTEC, Bidstack Group, e-therapeutics …

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

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Your daily round-up from the world of Proactive

Galantas Gold Corp (LON:GAL) has told investors that concentrate processing has now restarted at its wholly-owned gold mine near Omagh, Northern Ireland. During the downtime, maintenance of certain aspects of the processing plant was undertaken which is expected to minimise any future disruptions, the company noted. Staff previously furloughed under the UK government grant scheme are now back at work, it added. Corporate activities also continue, the company noted. “Discussions with a number of parties continue in terms of a corporate action involving a potential sale or joint venture and due diligence materials continue to be processed,” Galantas said in a statement.

EQTEC PLC (LON:EQT) shares rose on Thursday as the technology solution company for waste gasification to energy projects revealed that 10 new commercial enquiries have been received by it in the first quarter and early second quarter of 2020. In a project and commercial update, the AIM-listed firm also noted that full detailed commercial offers, with an aggregate potential sales value of round €120mln, were made by the company during that period. EQTEC also said it has progressed discussions with a European infrastructure operator of district heating and waste to energy and, together, the parties have selected three potential projects for financial due diligence, which has already commenced.

Bidstack Group PLC (LON:BIDS) told investors it is pleased with its progress and noted that the fledgling In-game advertising industry is seeing a spike in demand amidst the coronavirus (COVID-19) pandemic. The company, which hosts its AGM later on Thursday, has seen notable momentum in recent weeks with new agreements entered into for key partnerships and it is now working with most of the major ad firms. James Draper, Bidstack chief executive said in a statement: “The disruption to the advertising industry arising from the global cancellation of live sports as a result of COVID-19 has resulted in media buyers following audience demand and seeking to get in front of the increasing numbers of consumers turning to video gaming as an alternative.

e-therapeutics PLC (LON:ETX) has said it is moving into the field of RNA interference, also known as gene silencing. The approach won inventors Andrew Fire and Craig Mello a Nobel Prize in 2006. Since then researchers have struggled with RNAi discoveries, partly because of problems getting the molecules to their target. e-therapeutics believes its computational approach to drug discovery could aid the search for new RNAi drug candidates. Its machine learning-enhanced database of over 15mln small molecule compounds will allow scientists to perform functional in-silico (computer-based) phenotypic screens. In the same announcement, the company also said it has appointed Dr Paul Burke, head of Burke Bioventures, as chair of its scientific advisory board (SAB).

Oncimmune Holdings PLC (LON:ONC) said it has signed its largest contract to date with Swiss pharma giant Roche to profile auto-antibodies in patient samples collected during cancer immunotherapy trials. The new contract follows an initial project between the companies over the past two months and will enable further assessment of individual patient responses to immunotherapy through immune profiling. The contract involves a substantial upfront payment, added the AIM-listed group and starts immediately. Initial results are scheduled to be provided to Roche within three months and the project to be completed by November.

Mkango Resources Ltd. (LON:MKA) has announced the launch of the Innovate UK grant-funded project, "Rare-Earth Recycling for E-Machines" (RaRE). HyProMag Limited, in which Mkango's subsidiary Maginito Limited holds a 25% equity interest, is a partner in the RaRE project. The project will establish for the first time an end to end supply chain to incorporate recycled rare earth magnets into electric vehicles, whereby recycled magnets will be built into an ancillary electric motor to ultimately support the development of a commercial ancillary motor suite, Mkango said in a stock market statement released after the market close on Wednesday.

Filta Group Holdings (LON:FLTA) said it believes revenues and margins will return to levels seen in the first quarter once social distancing restrictions are lifted and the restaurant and hospitality industries return to normality. “Albeit that there has to be some uncertainty as to how long, and to what extent the restrictions may persist, we believe that, by the actions we have taken, we will be able to manage the group through that period and to be in a strong position thereafter,” said Filta's chairman Tim Worlledge. His comments accompanied full-year 2019 results from the oil filtration and fryer management group. Revenues for the 12 months ended December 31, 2019, were up 75% to £24.9mln, reflecting an £8.6mln contribution from the 2018 acquisition, Watbio.

Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF) chemical analysis on a bulk sample from the Kainite harvest ponds at its Lake Way Sulphate of Potash (SOP) Project has revealed potassium grades above the modelled average The 277-kilogram sample has demonstrated the presence of potassium salts kainite and schoenite (as modelled) with a potassium concentration of 7.5%, above the modelled assumed plant feed of 6.8%. Sulphate concentration of 20.9% also matched expectations and results from sodium and magnesium align with the anticipated plant feed grade.

AFC Energy PLC (LON:AFC) has said its HydroX-Cell(S) fuel cell system remains on target for initial release in 2022 following successful development works this year. The hydrogen power generation specialist said designs have been engineered for the first full commercial scale prototype system, which will commence manufacture in June and build on positive results achieved both at laboratory scale and single-cell commercial-scale testing. AFC also said that its internal capacity to produce HydroX-Cell(S) electrodes has increased and a pilot fabrication process for the production of membrane electrode assemblies (MEA) is under development.

Synairgen PLC (LON:SNG), the respiratory drug discovery and development company, said it has completed recruitment of hospitalised patients with coronavirus (COVID-19) for its clinical trial of SNG001. Synairgen's clinical trial in COVID-19 patients (SG016) is a double-blind, placebo-controlled trial. The 220 patient trial comprises 100 patients initiated in hospitals and 120 patients initiated in the home setting. The patients participating in the hospital setting have been recruited across a number of National Health Service (NHS) trusts.

Frontier IP Group PLC’s (LON:FIPP) said its portfolio firm, Elute Intelligence has opened up access to its Patent Reader platform to a user group of experienced patent professionals to help them effectively and efficiently find relevant information. The group includes users from patent rich multinationals, high-tech SMEs and professional IP services providers, Elute said in an announcement, adding that its software tools will enable them to intelligently search patent information and identify documents of most relevance. The company, which is 43.5% owned by Frontier, said the feedback from the user group will be used to refine the Patent Reader functionality in advance of a formal launch later in the year In a separate announcement, Frontier IP also said it has issued 81,034 shares following an exercise of options on May 27, 2020, with 24,034 options exercised at a price of 10 pence each and 57,000 options had an exercise price of 40p each. The shares have been issued to a former employee under the 2011 Frontier IP share option scheme.

Bacanora Lithium PLC (LON:BCN) said it expects to reopen the Hermosillo pilot plant at its flagship Sonora lithium project in Mexico in June and that it has a “strong cash position” to weather market fluctuations caused by the coronavirus pandemic. The AIM-listed firm said despite the virus outbreak it was continuing to progress all feasible workstreams, with significant attention focused on the completion of project work in Sonora, although this had been affected by delays in Asia and North America.

Blue Star Capital PLC (LON:BLU) said its investee company, SatoshiPay, has received support in the form of a strategic investment from its key partner, the Stellar Development Foundation (SDF). SDF has invested US$500,000 by way of a convertible loan note to support SatoshiPay in the development of its B2B solution for commercial, cross-border payments and digital wallets using the blockchain framework. The company said the funds will be used primarily to develop and market the SatoshiPay B2B solution which is currently being tested with a product expected to enter closed alpha testing within 8 weeks and a public beta launch expected in the fourth quarter of 2020.

Primary Health Properties PLC (LON:PHP), one of the UK's leading investors in modern primary healthcare facilities, said it has contracted to provide development funding for the construction and acquisition of a purpose-built primary care centre in Arklow, Co. Wicklow, Ireland for an anticipated total cost of €18.0mln. In a statement, the FTSE 250-listed firm said agreements for a lease with an initial term of 30 years have been signed with the Health Service Executive and a local GP practice, which will relocate to the centre on practical completion. The building, which will comprise an area of 5,333 square metres, is to be constructed to the new Nearly Zero-Energy Buildings regulations in Ireland.

Kodal Minerals PLC (LON:KOD) told investors that its feasibility study for the Bougouni lithium project, in Mali, has been accepted by the country’s Ministry of Mines and Petroleum. The ministry confirmed that no further technical and financial meetings are required prior to mining licence approval. Additionally, the Directorate Nationale de la Géologie et des Mines has now agreed the mining area and new permit boundary to encompass all resources along with the proposed mining and associated infrastructure areas. Kodal also noted that its gold assets in Mali and Cote d'Ivoire have attracted interest from investors and other exploration and development companies.

Zanaga Iron Ore Company Limited (LON:ZIOC) said it has completed a concept study to assess the viability of a floating dewatering, storage and offloading port facility at its project in the Republic of Congo. It said the study had indicated the potential for a US$184mln reduction to total capital costs of its 12mln tonnes per annum (Mtpa) stage one project to around US$2bn from US$2.2bn. The company has estimated that the floating port will incur a capital cost of US$111mln with an operating cost of US$6.47 per tonne.

OptiBiotix Health PLC (LON:OPTI) has revealed it grew sales across all of its divisions in the 13 months to the end of 2019 and said it continued to grow its top-line in the first three months of 2020, as reported earlier this month. The group, which develops compounds to tackle obesity, high cholesterol and diabetes, said that despite the pressures on the global economy caused by the coronavirus (COVID-19) pandemic, it is still looking to achieve revenue growth and profitability in all three of its divisions in the current fiscal year. Total sales for the 13-months to December 31, 2019 - the company changed its fiscal year-end in 2019 - were £744,883, up from £541,614 in the 12 months to the end of November 2018.

Condor Gold PLC (LON:CNR) (TSE:COG) revealed it has placed 18.1mln units at 36.5p to raise £6.6mln to advance the La India Project towards production. Each unit comprises one ordinary share in Condor plus half a warrant; each full warrant has a strike price of 40p. The shares issued represent 19% of the company's existing issued share capital.

Power Metal Resources PLC (LON:POW) has extended its option to acquire an additional 10% of the Haneti polymetallic project in Tanzania until the end of August. The company said that it and partner Katoro Gold PLC (LON:KAT) are still evaluating approaches to take a stake or farm-into the project. Power Metal has a 25% stake in Haneti but can increase this to 35% through the payment of a further £25,000 to Katoro. Power Metal also announced that the company has updated its corporate presentation which may be viewed through the following link: www.powermetalresources.com/presentation

Thor Mining PLC (LON:THR) (ASX:THR) has advised shareholders that trading in its shares have been halted on the Australian Securities Exchange effective from Thursday, May 28 pending an announcement related to the entering into an exclusivity arrangement in respect of a potential acquisition by the company and an associated fundraising. The group said the ASX trading halt will remain in place until the earlier of the commencement of trading on Wednesday, June 3 or the release of an announcement by the company. Trading in the company's ordinary shares will continue on AIM during this period.

Genel Energy PLC (LON:GENL) announced that payments have been received from the Kurdistan Regional Government for oil sales during April 2020. It said the Taq Taq partners have received a gross payment of $1.9mln, with Genel's net share of the payment being $1.1mln, while the Tawke partners have received a gross payment of $8.5mln, with Genel's net share of the payment being $2.1mln.

Circassia Group PLC (LON:CIR) said that the proposed transfer of the Tudorza and Duaklir assets to AstraZeneca PLC (LON:AZN)  first announced on April 9, 2020, has now completed. Ian Johnson, the group’s executive chairman commented: "The completion of this transaction transforms Circassia into a debt-free business. Niox is a highly differentiated respiratory diagnostic platform that will be able to deliver long-term growth and enhanced shareholder returns."

Ergomed PLC (LON:ERGO), a company focused on providing specialised services to the pharmaceutical industry, has announced that Richard Barfield, its chief financial officer will present at the Jefferies Virtual Healthcare Conference at 2pm BST on June 2, 2020. A live webcast of the presentation will be available on Ergomed's website: https://www.ergomedplc.com/investor-relations/reports-and-presentations/

Shield Therapeutics PLC (LON:STX), a commercial-stage, pharmaceutical company with a focus on addressing iron deficiency with its lead product Feraccru/Accrufer (ferric maltol), will be presenting at two investor presentations next month, providing an overview of the business and progress being made by the company The group said Tim Watts, its chief executive officer, will present online at the Shares Spotlight webinar on Wednesday, June 3 at 6.05pm. Investors can register to attend here: https://bit.ly/36AKJhe. It also noted that Watts will present at the Proactive Investor webinar on Thursday, June 4 which starts at 6.00pm. Investors can register to attend here: https://bit.ly/2TENuZq. The group said no new material information will be disclosed at either event and the presentations will be made available on the company website shortly after the events: https://www.shieldtherapeutics.com/investors/presentations

Faron Pharmaceuticals Oy (LON:FARN0 (NASDAQFIRSTNORTH:FARON), the clinical-stage biopharmaceutical company, said it plans to host a virtual R&D Day via webcast on Tuesday, June 16 at 3pm EEST, 1pm BST, 8am EDT. The event will provide an opportunity for the company's management team to present its R&D strategy and provide insight into Faron's two clinical-stage programmes. Management will discuss the Company's wholly-owned novel precision cancer immunotherapy, Clevegen, targeting Clever-1 positive tumour-associated macrophages (TAMs) in selected metastatic or inoperable solid tumours, currently under development in the ongoing phase I/II MATINS clinical trial. Management will also discuss Traumakine, for the treatment of patients with Acute Respiratory Distress Syndrome (ARDS), which is currently being investigated in COVID-19 patients in the ongoing REMAP-CAP trial and the WHO's Solidarity trial. There will be an opportunity to ask questions during the webcast.

Anglo Pacific Group PLC (LON:APF) (TSX:APY) announced that at its annual general meeting held on Wednesday, May 27, all resolutions were duly passed by a show of hands, with Resolutions 15 to 18 passed as special resolutions. It noted that following the AGM the group’s chief executive officer and chief financial officer gave a short presentation followed by a Q&A session with the board for shareholders, and a replay of this webcast will be available on the company's website.

Crossword Cybersecurity PLC (LON:CCS), the technology commercialisation company focused solely on cybersecurity and risk, announced that at its AGM held on Thursday, all resolutions put to the meeting were duly passed.

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