logo-loader

Breakfast News - AEX Gold, Mosman Oil & Gas, IronRidge Resources and more...

AEX Gold (TSXV:AEV) is intending to admit its shares to AIM alongside a £45m placing. The Company, led by CEO Eldur Ólafsson, has established the largest land package of gold assets in Greenland with a current portfolio of licences covering 3,356 square kilometres, in the two known gold belts in Southern Greenland

Reabold Resources - Breakfast News -

02 July 2020 
 
 
Dish of the day

No Joiners Today

Off the menu  
Intu Properties has left AIM following the appointment of Administrators.   
PureCircle has left the Main Market following a recommended cash offer.   
Ecovist a has left  the Aquis Stock Exchange following an earlier suspension.

What’s cooking in the IPO kitchen?

AEX Gold (TSXV:AEV) is intending to admit its shares to AIM alongside a £45m placing. The Company, led by CEO Eldur Ólafsson, has established the largest land package of gold assets in Greenland with a current portfolio of licences covering 3,356 square kilometres, in the two known gold belts in Southern Greenland, the Nanortalik and Tartoq gold belts. Nalunaq is a high-grade gold asset with an updated Inferred Mineral Resource covering 422,770 tonnes at 18.5 grams per tonne of gold, or 250,970 ounces of gold, which covers the area in and around the historical mine.  Due July.  Current mkt cap C$66.7m.  
 
 
Banquet Buffet 

Mosman Oil & Gas 0.09p  £0.98m (LON:MSMN
£400k placing at 0.08p. Investors are also receiving one warrant to subscribe for a further new ordinary share at an exercise price of 0.15p with a term of 12 months . The net proceeds raised from the Placing will be used towards the drilling of the Falcon well at the Champion Project in Texas.  "This placing, along with the recent Blackstone settlement will result in Mosman having cash of over AUD 1.0 million. The pending sale of the Welch Oil Field announced on 20 May 2020 and due to complete shortly, could increase this to AUD 1.4 million.” 
 
IronRidge Resources 11.5p  £46.5m (ILON:RR) 
IronRidge Resources reported the definition of a drill ready target at Yakassé within the Zaranou gold license in Côte d'Ivoire from recently secured historical data. Additionally, the Company is pleased to report that the second phase drilling programme currently underway has been enlarged over the Phase 1 drill area, now named the Ehuasso target , as well as a new soil anomaly to the north-east, called the Ebilassokro target ; both within the Zaranou license area. The license borders with Ghana and is along strike from significant operating gold mines including Chirano (5Moz), Bibiani (5.5Moz) and Ahafo (17Moz).  
 
Salt Lake Potash 29.5p  £104m (LON:SO4
SO4 has received commitments to raise A$15m through the placement of unsecured zero-coupon convertible notes to corporate and institutional investors. The Convertible Notes have been structured as deferred equity with zero coupon and mandatory conversion into Salt Lake ordinary shares of no par value (Shares) at the lower of 45c/Share or a 5% discount to any future equity raising of at least A$10m. The funds will allow SO4 to continue the rapid development of Lake Way as construction activities ramp-up through July. Plant practical completion and first SOP sales remain on schedule for the March 2021 quarter. The Company is in the final stages of completing the debt financing that is required to deliver project financial close at Lake Way. A final agreement is expected to be executed within weeks. 
 
Omega Diagnostics 41.5p  £65.6m (LON:ODX
The medical diagnostics company focused on CD4, infectious diseases and food intolerance testing, announces that its CEMarked Mologic ELISA1 antibody test has been approved for testing of COVID-19 in India.  Yesterday the Central Drugs Standard Control Organization, part of the Ministry of Health & Family Welfare, published a list of approved Rapid / CLIA / ELISA kits approved for testing of COVID-19, which included Omega's ELISA antibody test.  Approval for sale remains conditional on the submission of supporting technical data and the Company is confident that this submission will be successful, and that Omega will be able to sell its ELISA antibody test directly into this potentially significant target market. 
 
Gamma Communications  1350p  £1.2b (LON:GAMA
Gamma has acquired c80% of the issued share capital of HFO Holding AG  on 1 July 2020 for €20.4m (and has an option to acquire the remaining c20% over the next three years).  HFO is one of the leading SIP Trunk providers in Germany with an excellent reputation for product quality and end-customer service.  It has a strategy to build on this expertise in both the VOIP and broad business communications markets, and has recently started to sell Cloud PBX offerings through its extensive network of channel partners across the German market.    As part of its stated European expansion strategy, Gamma had previously identified Germany as a key target geography. With an overall market of c.36 million PBX seats (almost twice the UK market size) but a cloud penetration of only c6% (one of the lowest rates in Western Europe), the German market for cloud telephony is forecast to grow rapidly. For the year ended 31 December 2019, HFO had revenues of €45.9m, operating profits (adjusted EBITDA) of €3.2m and at 31 December 2019 had net assets of €4.6m.   
 
Verditek  9.15p  £26.7m (LON:VDTK
The clean technology company is pleased to announce, following its successful product development activities, that it has received a number of orders over the past two weeks in new geographical areas and new vertical markets . The team has successfully secured its first order for the very profitable marine market, selling panels in Thailand to be used on yachts.  The lightweight solar panels provided will be used to power the cabin electrical loads such as navigation, lighting. and communication equipment.  In the UK, Verditek has secured its first order in the agricultural sector, with Verditek solar panels to be installed on the roofs of barns in the near future.  Due to the low load bearing characteristics of these structures the installation of a lightweight solar panels on the roof was the only practical solution to generating electricity.  Following on from the success in Pakistan, Verditek has secured another order in the Oil & Gas vertical.  
 
CREO Medical 212p  £334m (LON:CREO
The medical device company focused on the emerging field of surgical endoscopy, announces that the Group has secured a £2m loan from the Cardiff Capital Region ("CCR") to develop Creo's Cool Plasma technology as a method to kill bacteria and viruses and for sterilisation purposes. Creo's technology has both medical and non-medical applications and initial testing has demonstrated that it can be effective for COVID-19 inactivation and decontamination. The Company believes that the technology has the potential for use in wound care, medical device sterilisation, PPE sterilisation, endoscope sterilisation to kill the bacteria associated with urinary tract infections, as well as general sterilisation and cleaning of enclosed environments within the service and transport sectors.  
 
4d Pharma 40.7p  £44.6m (LON:DDDD
The pharmaceutical company leading the development of Live Biotherapeutics, today announces that its Phase II clinical trial of oral immunomodulator MRx-4DP0004 for patients hospitalised with COVID-19 is now open to enrolment, and dosing of the first patients is expected shortly.  The Phase II randomized, double-blind, placebo-controlled trial is enrolling up to 90 patients admitted to hospital with COVID-19 in the UK. Eligible patients will receive daily oral MRx-4DP0004 or placebo, in addition to standard supportive care.  The primary endpoint of the trial is the mean change in clinical status score as measured by the WHO Ordinal Scale for Clinical Improvement. In addition, a number of secondary endpoints assess measures of clinical efficacy including the need for, and duration of, ventilation, in addition to safety and tolerability. 
 
OnTheMarket 85p  £60.7m (LON:OTMP
The majority agent-owned company which operates the OnTheMarket.com property portal, announces that almost 500 estate agent branches are now contracted under the Company's most recent listing offers, which issue welcome shares to each business owner.   Of the branches signing up to the new listing agreements, more than 60% are currently contracted to either list exclusively with OnTheMarket or on a one other portal basis of either Rightmove or Zoopla/Primelocation. Launched on 27 April 2020, the new contracts issue either £1,000 of welcome shares per office with flexible portal choices, or £2,500 of welcome shares per office if an agent commits to list exclusively for a minimum of 12 months. Following the announcement on 23 June 2020, OnTheMarket has continued to set new records with the number of leads it delivered to advertisers in June 2020.  More than 1.8 million leads were generated in the month, with an average of 134 leads per advertiser. 
 
Reabold Resources 0.57p  £38.5m (LON:RBD
Update on well flow test operations at the Iecea Mica-1 well in Romania as part of the 2020 work programme.  The Work Programme is being carried out by Danube Petroleum Limited, which has a 100 per cent. interest in the Parta Sole Risk Area and will, on completion of the farmout to Tamaska Oil & Gas have a 50 per cent. interest in the Parta Exploration Licence.  Reabold holds a 50.8 per cent. equity interest in Danube. ADX Energy Ltd is the operator of IMIC-1. Highlights : · Well production equipment has been run into the IMIC-1 well which has been perforated to initiate flow from the Lower Pannonian Pa IV gas reservoir o  The PaV and Pa III potential gas reservoirs were not perforated during the current operations
 · Mud filtrate build-up around the well bore has potentially occurred; following further diagnostic work, acidization of the well may be implemented to enhance flow o  Reservoir acidization may be required to break down mud filter cake which builds up around the well bore and is relatively common practice in the region o  Cuttings from IMIC-1 drilling analysis together with modern petrophysical analysis of the newly acquired IMIC-1 logs indicated good Pa IV gas reservoir permeability · The programme will be ongoing over the coming weeks including down hole pressure measurement, fluid sampling and future stimulation or further testing programmes · Further down hole pressure measurement and sampling of reservoir fluids work will be undertaken utilising low-cost wire line equipment following rig demobilisation 
 

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

HANeft's Kuwait partner says country's inclusion on MSCI Index signals...

Abdullah Al-Busairi, the Director of KMEFIC which has partnered with HANeft for its Kuwait product, explains to Proactive's Andrew Scott the significance of the country being included on the MSCI Emerging Market index in November. The KMEFICFTSE Kuwait Equity UCITS ETF (KUW8) tracks the FTSE...

1 hour, 4 minutes ago

9 min read