leadf
logo-loader

Breakfast News - Castillo Copper, Kibo Energy PLC, Thor Mining and more...

Castillo Copper has joined the main market (Standard). (LON:CCZ) Raised £1.3m at 1.7p. Dual listed on ASX. The Company's strategy focuses on resource exploration projects that have the potential, through the application of disciplined and structured exploration and analysis, to be progressed towards the development of a mining operation.

Reabold Resources - Breakfast News -

4 August 2020

 

*A corporate client of Hybridan LLP

 

Dish of the day

Castillo Copper has joined the main market (Standard). (LON:CCZ) Raised £1.3m at 1.7p. Dual listed on ASX. The Company's strategy focuses on resource exploration projects that have the potential, through the application of disciplined and structured exploration and analysis, to be progressed towards the development of a mining operation. The dual listing will support the Company's aim to transform the business into a mid-tier copper producer.  There are three main projects  across Australia and Zambia. Mkt cap of c. £17.2m.
 

Off the menu

No Leavers Today

 

Kibo Energy PLC, the multi-asset Africa focused energy company, is seeking admission for its 100% owned UK subsidiary Sloane Developments Ltd , which will be renamed Mast Energy Developments PLC ('MED'), to the Standard List of the London Stock Exchange plc . Targeted for Q4 2020. The MED business strategy is to acquire and develop a portfolio of flexible small-scale power generation assets, exploiting a growth niche market in the UK for Reserve Power generation to balance out the national grid at critical times. 

 

Banquet Buffet

Thor Mining 0.575p  £7.4m (LON:THR)

Appointment of Mr Mark McGeough to the Board as a Non-Executive Director with immediate effect. Mark McGeough has worked with a number of Australian Mining Companies, including:

· Chinova Resources Pty Ltd (formerly Ivanhoe Australia) where, as General Manager - Geology, provided corporate governance leadership, and led technical teams working on copper, gold, and molybdenum/rhenium resources

· Toro Energy Limited where, as General manager Exploration, he was responsible for teams exploring for uranium in Australia and Namibia, including discovery of the Theseus Uranium deposit.

· Prior to these roles, Mark worked as Manager - Geological Survey with the South Australian government department of Primary Industries and Resources, and with Mount Isa Mines, Xstrata Copper and Zinc

· Mark McGeough graduated with a B.Sc Joint Honours in Geography and Geology from the University of London in 1976.

 

Physiomics*  6.5p  £6.2m (LON:PYC)

Trading update: Based on its unaudited management accounts for the year ended 30 June 2020, the Company is trading in line with analyst expectations.

Trading for the current financial year has started well with a further contract with Bicycle Therapeutics (announced on 30 June 2020), a strong continuing relationship with Merck KGaA as well as a maiden contract (announced 31 July 2020) with Astellas, a Japanese global pharmaceutical company, for a modelling project involving Physiomics' Virtual Tumour™ immuno-oncology model.  In addition, the Company's investment in additional marketing capability has led to an increased volume of introductory calls with potential new clients, some of which the Board hopes will be converted into further projects in the second half of this calendar year. 

Net cash as at 30 June 2020, stood at £1.1m, based on the Company's unaudited management accounts, strengthened by an oversubscribed placing announced on 27 May 2020, which raised gross proceeds of £0.83m.

 

Kropz 8.5p  £37.7m (LON:KRPZ)

The  emerging African phosphate explorer and developer, announced that the Board has appointed Mark Summers as the Company's Chief Executive Officer with immediate effect. As announced on 26 February 2020 Mark Summers has been acting as interim CEO since 26 February 2020. He will continue to perform both the CEO and Chief Financial Officer roles until a replacement CFO has been appointed. 

 

Pensana Rare Earths 29.2p  £54.6m (LON:PRE)

Final assay results from the last 86 holes of the 8,000 metre drill programme completed at the Longonjo NdPr Project in Angola.

The programme is in support of a Bankable Feasibility Study which is due to be reported in mid-October.

The latest results confirm the continuity of the weathered zone mineralisation from surface and also outline a wide area of mineralisation in fresh rock immediately below the current pit design that could add an extra dimension to the project beyond the initial mine life .

Expects to report a new Mineral Resource estimate in September. 

 

Reabold Resources 0.61p  £43.3m (LON:RBD)

The  investing company which focuses on investments in upstream oil and gas projects, announced an update regarding recent operational progress at the West Newton project (on PEDL 183), onshore UK, in which Reabold has an effective 56 per cent. equity interest.  

 

Highlights:

·     Significant progress made at West Newton B site while successfully managing Covid-19 related restrictions

· Initial drilling operations at West Newton B expected to commence in the next few weeks

· Combined testing programme at both West Newton B-1 and A-2 to follow B-1 drilling

 

Pelatro 49p  £15.9m (LON:PTRO)

Conditional £2.1m fundraise at 47p.  The Issue Price equates to a 12.1 per cent. a discount to the closing mid-market price of 53.5 pence on 3 August 2020 . The net proceeds of the Fundraise will be used by the Company for the following purposes:

o  strengthen the sales team in both existing emerging and new developed markets

o  marketing at various industry conferences and events to broaden Pelatro's brand recognition and network

o  fund working capital for Managed Services, which the Directors believe will enable the Company to tender for larger contracts

 

Genedrive 90.5p  £47m (LON:GDR)

The near patient molecular diagnostics company, has entered into a collaboration with Beckman Coulter Life Sciences to fully automate the entire laboratory PCR testing process for COVID-19. The two companies are working to combine and validate the Genedrive® 96 SARS-CoV-2 Kit on the Biomek i7 automated workstation with saliva samples extracted using Beckman Coulter's RNAdvance viral extraction chemistry.

 

The freeze dried bead chemistry of the Genedrive® 96 SARS-CoV-2 test is ideally suited for use on high throughput robotic platforms like the Biomek i7.  Stable at room temperature for 4 hours after unsealing, many Genedrive® 96 SARS-CoV-2 Kit 96-well plates can be left arrayed and open in the laboratory environment during the set-up process.  The ready-to-go nature of the test bead also removes the fluid dispensing steps required in other assays, increasing the overall throughput of the Biomex i7 compared to using a liquid based test set-up.  Accordingly, once validated, Beckman Coulter estimates that this new turnkey solution could process circa 1,000 PCR samples per Biomek installed during a standard 8-hour working day, using just a 0.5 full-time-equivalent in technician time for processing. 

 

Oxford Metrics 76.5p  £96.2m (LON:OMG)

The international software company servicing government, life sciences, entertainment and engineering markets announced that Vicon, a world leader in motion measurement, has signed a contract with Electric Playbox, targeting the fast-growing Location-based Entertainment market.

Electric Playbox offers a new type of immersive entertainment for groups. Teams of up to six players work together to play their way through 60-minute adventures in interactive digital rooms - called Playboxes. Playboxes feature projectors, touch screens, surround sound and motion tracking technologies to deliver a hyper-immersive and interactive team experience.

 

REDX Pharma 72.5p  £141m (LON:REDX)

Redx signs out licensing agreement with AstraZeneca

 

· AstraZeneca granted exclusive global licence for the development and commercialisation of RXC006, a porcupine inhibitor, for fibrotic diseases

· Redx will receive up to $17 million in early payments between deal signature and the successful commencement of first clinical trial

· Redx will receive up to a further $360 million in development and commercial milestones, plus tiered royalties

· Redx continues to progress its lead oncology asset, RXC004, also a porcupine inhibitor, currently in phase 1/2 clinical trial, and RXC007, the oral Rock 2 inhibitor targeting fibrosis

 

Water Intelligence  325p  £47.8m (LON:WATR)

The multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water announced the reacquisition of its franchise operation in Melbourne, Australia within the Group's American Leak Detection subsidiary.  The Group continues to execute its strategic growth plan and to build scale as an "essential service provider" for water and wastewater infrastructure solutions despite the challenges of Covid-19 affecting the broader marketplace.

Financially, for the trailing twelve months, which includes six months of Covid-impacted results, the Melbourne operation generated AUD$1.29 million in sales and AUD$0.27 million in profits.  The purchase price for the reacquisition which includes all assets to conduct operations (trucks, equipment etc.) is AUD$1.77 million.  The Group plans to expand the Melbourne business by further leveraging Sydney's municipal solutions expertise and by gaining the benefits of various operating synergies between the two locations.  

 

 

If you would like to unsubscribe, please email [email protected] with “unsubscribe me”.

 

Head Chef

Derren Nathan

0203 764 2344

[email protected]

Status of this Note and Disclaimer

This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectives, financial situation or needs of any specific entity and is not a personal recommendation to anyone. Recipients should make their own investment decisions based upon their own financial objectives and financial resources and, if any doubt, should seek advice from an investment advisor.

The information contained in this document is based on materials and sources that are believed to be reliable; however, they have not been independently verified and are not guaranteed as being accurate. This document is not intended to be a complete statement or summary of any securities, markets, reports or developments referred to herein. No representation or warranty, either express or implied, is made or accepted by Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information in this document nor should it be relied upon as such.

Any and all opinions expressed are current opinions as of the date appearing on this document only. Any and all opinions expressed are subject to change without notice and Hybridan LLP is under no obligation to update the information contained herein. To the fullest extent permitted by law, none of Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings shall have any liability whatsoever for any direct or indirect or consequential loss or damage (including lost profits) arising in any way from use of all or any part of the information in this document.

This document is sent to you as market commentary only. As market commentary this document does not constitute any of (i) investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments for the purposes of section B of annex I to Directive 2014/65/EU ("MIFID II Directive"); or (ii) investment research as defined in article 36(1) of Commission Delegated Regulation 2017/565/EU made pursuant to the MIFID II              Directive; or (iii) non-independent research (as such term is defined in the Financial Conduct Authority's Conduct of Business Sourcebook).

This document should not be relied upon as being an independent or impartial view of the subject matter. The individuals who prepared this document may be involved in providing other financial services to the company or companies referenced in this document or to other companies who might be said to be competitors of the company or companies referenced in this document. As a result both Hybridan LLP and the individual members, officers and/or employees who prepared this document may have responsibilities that conflict with the interests of the persons who receive this document. Hybridan LLP and/or connected persons may, from time to time, have positions in, make a market in and/or effect transactions in any investment or related investment mentioned herein and may provide financial services to the issuers of such investments.

In the United Kingdom, this document is directed at and is for distribution only to persons who (i) fall within article 19(5) (persons who have professional experience in matters relating to investments) or article 49(2) (a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (SI 2005/1529) (as amended) or (ii)  persons who are each a professional client or eligible counterparty (as those terms are defined in the Financial Conduct Authority's Conduct of Business Sourcebook) of Hybridan LLP (all such persons referred to in (i) and (ii) together being referred to as "relevant persons"). This document must not be acted on or relied up on by persons who are not relevant persons. For the purposes of clarity, this document is not intended for and should not be relied upon by any person who would be classified as a retail client under the Financial Conduct Authority's Conduct of Business Sourcebook.

Neither this document nor any copy of part thereof may be distributed in any other jurisdictions where its distribution may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Distribution of this report in any such other jurisdictions may constitute a violation of territorial and/or extra-territorial securities laws, whether in the United Kingdom, the United States or any other jurisdiction in any part of the world.

Hybridan LLP and/or its associated undertakings may from time-to-time provide investment advice or other services to, or solicit such business from, any of the companies referred to in this document. Accordingly, information may be available to Hybridan LLP that is not reflected in this material and Hybridan LLP may have acted upon or used the information prior to or immediately following its publication. In addition, Hybridan LLP, the members, officers and/or employees thereof and/or any connected persons may have an interest in the securities, warrants, futures, options, derivatives or other financial instrument of any of the companies referred to in this document and may from time-to-time add or dispose of such interests.

This document may not be copied, redistributed, resent, forwarded, disclosed or duplicated in any form or by any means, whether in whole or in part other than with the prior written consent of Hybridan LLP.

Hybridan LLP is a limited liability partnership registered in England and Wales, registered number OC325178, and is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Any reference to a partner in relation to Hybridan LLP is to a member of Hybridan LLP or an employee with equivalent standing and qualifications. A list of the members of Hybridan LLP is available for inspection at the registered office, 2 Jardine House, The Harrovian Business Village, Bessborough Road, Harrow, Middlesex HA1 3EX.

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

Red Rock Resources raises £1m to 'put rocket fuel into the engine'

  Red Rock Resources PLC's (LON:RRR) Andrew Bell talks to Proactive London about their £1m placing which will be used for their projects in Kenya, now that they have regained their license. Other projects in the Congo and Australia will also benefit from this placing and as Bell says,...

14 hours, 51 minutes ago

12 min read