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Proactive news headlines: Eurasia Mining, Tharisa, Ceres Power, Allergy 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

Eurasia Mining PLC (LON:EUA) shares soared on Thursday as the Russia-focused miner returned to AIM following the clarification of its relationship with Chinese group CITIC Merchant Co Limited. The company confirmed that it has entered a success fee-based engagement letter with CITIC to explore possible strategic options for its mining assets. Eurasia also reiterated its announcement from July 1 that it has appointed UBS as its leading adviser to assist in a review of its strategic options including asset sales or a sale of the company.

Tharisa PLC (LON:THS) has reported higher quarterly chrome production as its sales of platinum group metals (PGM) returned to pre-pandemic levels. For the quarter ended June 30, 2020, the miner said its activities in South Africa recommenced in full at the start of May and that in the three month period it had produced 321.4 kilotons of chrome, up 3.6% on the prior quarter, while PGM production rose 9% to 35 kilo ounces (koz). The firm said its co-product model utilising mechanised and low labour intensive mining in an open pit had allowed it to maintain production at reduced measures despite the lockdown in South Africa and also to “significantly increase output during May and June”.

Ceres Power Holdings PLC (LON:CWR) has said it ended the last 12 months in a strong position with operational momentum maintained against the headwinds caused by the coronavirus outbreak. The clean energy specialist said revenue for the period to June 30, 2020, will be in the region of £20mln, representing year-on-year growth of 20-25%. Cash and short-term investments were £108mln as of that date. Looking ahead, the fuel cells specialist said it expects to sign new customer partnerships “as commercial demand remains strong”.

Allergy Therapeutics PLC (LON:AGY) has been granted the opportunity to carry out a new phase III clinical study on its short-course birch pollen inoculation after a tranche of data was declared invalid. In March, it was revealed Birch MATA MPL had failed to reach what in the technical jargon is referred to as its primary endpoint. In layman’s terms it didn’t appear to provide therapeutic value. However, at the time there Allergy Therapeutics hinted at contradictory results from the study. The company has since taken advice from the Paul Ehrlich Institute (PEI), the scientific regulator for Germany where the trial was carried out, which has agreed that a new phase III trial can be conducted.

Belvoir Group PLC (LON:BLV) shares rose on Thursday as the property franchise said it has entered a strategic alliance with the Nottingham Building Society (NBS) which will extend its estate agency and lettings services to new locations. Under the agreement, Belvoir said the vast majority of NBS’s estate agency and lettings activity will transfer over to the company and NBS will cease trading as its own estate agent operation for new business by the end of August. Belvoir franchisees will then be able to offer NBS members estate agency services either from existing building society branches or Belvoir’s own offices in the UK.

Caledonia Mining Corporation PLC (LON:CALE) has described its production performance in the last quarter as an outstanding achievement, with gold output rising 6.2% at 13,499 ounces in the three months ended June 30, 2020. It marked production for the first half of 2020 at 27,732 ounces, up 12.5% versus the same period last year. Guidance for the full year – pitched at 53,000 to 56,000 ounces – is retained and the company told investors it is on-track with its progress towards its 2022 production target of 80,000 ounces.

Highland Gold Mining Limited’s (LON:HGM) has said its four operating mines produced 61,357 ounces of gold and gold equivalent in the second quarter, in line with forecasts, In the same period of last year, 70,293 ounces of gold were produced. Total production in the first half of 2020 was 125,347 ounces, down from 142,254 ounces in the same period of last year but in line with internal production targets. The company expects to produce between 290,000 and 300,000 ounces over the whole of 2020.

NQ Minerals PLC (AQSE:NQMI) has hailed “ excellent” production metrics for the second quarter of 2020. The company said its Hellyer gold mine in Tasmania produced a total of 8,762 tonnes of lead concentrate in the three months ended June 30, 2020, while zinc concentrate volumes amounted to 4,241 tonnes. It also produced 1,223 ounces of gold and 229,947 ounces of silver in the quarter, with sales payable precious via credits in the lead and zinc concentrate streams.

Ariana Resources PLC said gold production at the Kiziltepe Mine in Turkey in the three months to the end of June was higher than anticipated. Kiziltepe, which is part of the Red Rabbit 50/50 joint venture with Proccea Construction, produced 4,679 ounces, down from 5,129 ounces but in line with guidance issued for the half-year. Total ore processed in the quarter was 54,862 tonnes at an average head grade of 3.02 grams per tonne (g/t). Quarterly open-pit ore mined was 77,179 tonnes, at an average mined grade of 2.79 g/t gold, and total material movement for the quarter was 973,603 tonnes.

IronRidge Resources Ltd (LON:IRR) has released initial drill results from its ongoing second phase programme at the Zaranou gold project in Côte d'Ivoire. They comprise multiple high-grade and also broad low-grade results from the Ehuasso target area. Results so far come from 5,910 metres of air-core drilling and 15,000 metres of combined AC-reverse circulation drilling. IronRidge noted that mineralisation continuity is now confirmed over multiple growing targets at Zaranou, with targets growing to over 500 metres in length and up to 100 metres width. All remain open along strike and at depth.

Primary Health Properties PLC (LON:PHP) proposes to raise around £120mln through a share placing, with the funds to be used on the company’s pipeline of acquisitions and to improve its existing portfolio of medical centres. During the current year, the company said it has continued to see opportunities for funding new developments, both in Ireland and in the United Kingdom, and has a short-term pipeline of 11 new developments to be forward funded, totalling £92mln, of which £44mln are in Ireland. In a separate announcement, the company said its operational and financial performance so far this year continued to demonstrate good resilience. Adjusted earnings per share in the first half of the year rose by 7.1% to 3.0pm from 2.8p in the first half of last year.

FastForward Innovations Limited (LON:FFWD) said it has filed its appearance and a number of motions in the bankruptcy case of its investee firm, Factom Inc. The investment group said it is requesting the court in Delaware dismiss Factom's bankruptcy case so that a receiver may be appointed to liquidate the company’s assets in a Texas state court. Alternatively, FastForward has requested that Factom’s bankruptcy case be converted to a liquidation proceeding under Chapter 7 of the US Bankruptcy Code, or to transfer the case from the Delaware Court to the US Bankruptcy Court for the Western District of Texas, Austin Division.

Oracle Power PLC (LON:ORCP) has brought in £1.5mln of new capital and put in place a further £45mln financing facility with Riverfort Global Capital. The initial £1.5mln is being raised via a share subscription deed, with new shares to be issued in tranches over an eighteen-month period. To land the £45mln facility the company is entering into a placing subscription facility (PSF) which will similarly make funds available against equity tranches, over a 60 month period, to support future project expenditures. The company said that the PSF increases its funding flexibility as current commercial activities at Thar Block VI continue.

Galantas Gold Corp (LON:GAL) has told investors that it understands financial matters have now been mutually agreed in connection to a proposed increase in underground blasting at the Omagh mine in Northern Ireland. The company’s ore mining is presently suspended until finance is available to expand the underground operation. Production had been disrupted by police restrictions on the storage and use of explosives for mine blasting and in recent months it has focused on resolving the problem. Whilst the company awaits resolution it is also actively reviewing its business.

EQTEC PLC (LON:EQT) said it has raised £10mln through an oversubscribed placing and subscription to accelerate project development amid what it said was “increasing” demand for its waste gasification to energy technology. The AIM-listed firm said it had raised the funds through the placing of 2bn shares and a subscription for 222mln shares through PrimaryBid at 0.45p each, a 33.8% discount to its closing price on Thursday. Meanwhile, the group also said certain directors had agreed to reinvest 40% of their salaries and fees for the next 12 months into shares at the placing price. The company said that it will use the proceeds to accelerate the timing of identified projects to financial close and invoicing, as well as settling outstanding principal, interest and fees due to Riverfort Lenders worth up to around £311,000.

OptiBiotix Health PLC (LON:OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skincare has announced that at its annual general meeting (AGM) held earlier today, all resolutions were duly passed. Due to being unable to attend the AGM in person as a result of the ongoing coronavirus pandemic, shareholders were given the option to submit questions in advance and these questions have been addressed and will be available to view on the company's website, along with the voting results, later: https://www.optibiotix-ir.com/content/investors/shareholder-information

Bloomsbury Publishing PLC (LON:BMY) has said its annual general meeting (AGM) will be held on Tuesday July 21, 2020, at 12.00pm. As previously advised by the company, the 2020 AGM will be a closed meeting without shareholders, save for the required quorum, in response to the coronavirus pandemic. Shareholders are asked to participate by submitting a proxy vote in advance of the meeting and appointing the chair of the meeting as their proxy through the shareholders' portal at www.signalshares.com. On the home page, enter "Bloomsbury Publishing PLC" in the "Company Name" box and then register or log in, using your Investor Code. To vote at the AGM, click on the "Vote Online Now" button by not later than 12.00 noon on Friday July 17, 2020.

Argentex Group PLC (AIM: AGFX), the provider of foreign exchange services to institutions, corporates and high net worth private individuals has said it will announce its full-year results for 2019 at 7am on Monday, August 3, 2020. The company said it will host an online analyst presentation at 9.30am on that day and analysts wishing to register should RSVP to Ambrose Fullalove at FTI Consulting: [email protected] 

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