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Proactive news headlines: IronRidge Resources, Braveheart Investment, Gfinity, Gaming Realms ...

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

IronRidge Resources Ltd (LON:IRR) soared higher on Wednesday as the group described as exceptional the latest gold exploration results from the Zaranou project in Côte d'Ivoire, West Africa, with some grades as high as 1,075 grams per tonne (g/t). The set of results, from the Ebilassokro and Ehuasso targets, are the latest in a series of strong drill results and contain the highest grades to date. “Exceptional” results include 5 metres in the Ebilassokro measuring 270.5 g/t gold, with 1 metre (m) at 1,075 g/t, while another hole saw 24m at 13.6 g/t including 4m with 76.2 g/t at the Ehuasso target. Other holes encountered further high grade and visible gold.

Braveheart Investment Group PLC (LON:BRH) has said that its investee company Paraytec is making progress with the development of a coronavirus (COVID-19) test in conjunction with the University of Sheffield. The construction of a viral mimic of the same size as COVID-19 has been completed, said Braveheart, as has work on a CAPTURE module, a specialised surface coated with a macromolecule to which binds the virus very tightly. This virus-binding molecule is a COVID-19 DNA aptamer that has been supplied to Paraytec.  The next stage is the construction of Signal Generation components said Braveheart, which will accelerate the speed a test result comes back.

Gfinity PLC (LON:GFIN) said it has partnered with Abu Dhabi Motorsport Management (ADMM) to launch a new digital motorsport competition, the V10 R-League. The V10 R-League has been launched as part of the global racing series and is the first stage of a five-year agreement between Gfinity and ADMM which will feature a range of internationally focused virtual motorsport leagues and competitions, designed to provide commercial opportunities with brands, broadcasters and teams. V10 will run two seasons per year and involve eight teams competing for a £100,000 prize each season.

Gaming Realms PLC (LON:GMR) announced that it has entered into a three-year licensing and distribution agreement with Oryx Gaming, a unit of Bragg Gaming Group Inc. (OTCMKTS:BKDCF) (TSX:BRAG) and leading content aggregation, player engagement and data services platform for gaming operators globally. Under the terms of the agreement, the developer and licensor of mobile-focused gaming content said Oryx will have access to Gaming Realms' entire Slingo Originals portfolio, meaning the ever-growing and popular Slingo games including Slingo Rainbow Riches, Slingo Centurion and Monopoly Slingo will be distributed via the Oryx Hub platform. As part of the agreement, Oryx will also be able to license the Slingo content to over 100 operators worldwide, through existing partnerships.

Iconic Labs PLC (LSE:ICON) rose on Wednesday as the firm announced that in the course of providing its services through the management services agreement with JOE Media, it has secured a new contract for JOE Media, for the production and distribution of bespoke social content. The multidivisional new media and technology company said that revenues from this new contract are in excess of £150,000 and it is scheduled to commence in the third quarter and conclude in the fourth quarter of this year.

IQ-AI Ltd (LON:IQAI) revealed today that it has now signed a Letter of Intent (LOI) with a major international medical group wishing to buy its Stonechecker Software Limited business and due diligence has commenced. In a statement, the firm said the transaction, if completed, will comprise cash consideration plus ongoing royalty on sales. Further information will be released as events progress. In December 2019, IQ-AI announced that that it had made the strategic decision to focus existing resources and expand upon the company's leading position in the neuroimaging field.

OptiBiotix Health PLC (LON:OPTI) said it has extended the terms of its original exclusive licence agreement for OptiBiome with OptiPharm Pty Ltd, as announced on March 31, 2020, to now include Europe. The life sciences business, which is developing compounds to tackle obesity, high cholesterol, diabetes and skincare, said the terms of the exclusive licence agreement originally granted OptiPharm exclusive use of the OptiBiome trademark in Australia, parts of Asia, New Zealand, Middle East, Gulf States and North America. The company added that market exclusivity remains linked to minimum order quantities.

Tiziana Life Sciences PLC (LON:TILS NASDAQ:TLSA) is driving forwards at speed with the clinical development plan for its fully-human mAb TZLS-501 COVID-19 treatment, according to Emma Uiker at Proactive Research. "With GMP-grade manufacturing already underway via boutique CRO, STC Biologics, Tiziana has appointed three other CROs to develop and test the handheld nebuliser, to conduct an inhalation safety toxicity study in monkeys, and to initiate a human clinical trial in COVID-19 patients.  Tiziana has also taken an innovative approach to leverage the potential of TZLS-501 to treat COVID-19, to investigate its promise of helping alleviate life-threatening lung inflammation,” says Uiker.

BATM Advanced Communications Limited (LON:BVC) said its subsidiary, Telco Systems, has worked with computer chip maker Arm to complete a proof of concept for a uCPE, which includes the company’s NFVTime operating system, that has been tested by Vodafone Group PLC (LON:VOD). The networking systems and medical laboratory systems group said the uCPE was tested by Vodafone’s labs in the UK for small and medium businesses and enterprise use cases and has “performed successfully” in the deployment and management of virtual network functions and handling high traffic requirements.

Eden Research PLC (LON:EDEN) said its commercial partner Eastman Chemical Company has received authorisation to sell the sustainable biopesticides specialist's Cedroz product in Greece, marking the entry into the first of its key EU markets. The country is important for the commercialisation of the terpene-based nematicide, with fruit and vegetable crops accounting for 18.8% of total agriculture production, Eden said. Sign-off includes the use of Cedroz on tomatoes, strawberries, aubergine, peppers, okra, cucumber, zucchini, pumpkin, melon and watermelon both indoors and outdoors.

Oncimmune Holdings PLC (LON:ONC) said two scientific abstracts based on evidence gleaned from a large-scale trial provided further supportive evidence for the use of its EarlyCDT Lung blood test in screening for cancer. The first abstract assessed the cost-effectiveness of using the immunodiagnostic company’s breakthrough to triage patients into CT scanning. The conclusion was that the Oncimmune screen method was indeed value for money “excluding the additional costs of lung cancer treatment and enhanced survival from earlier detection”. FastForward Innovations Ltd (LON:FFWD) said its investee company, Leap Gaming, has been granted a game supply licence by the Malta Gaming Authority (MGA). Leap, in which FastForward owns a 43.4% stake, said the licence is seen “globally as a vote of confidence”, with the MGA being “one of the most respected licencing authorities globally”.

ECSC Group PLC (LON:ECSC) has said it made an adjusted EBITDA profit for the first six months of 2020 following a jump in managed services recurring revenue. In a trading update for the six months ended June 30, 2020, the cybersecurity group reported the turnaround from a £184,000 loss in the prior year, while its recurring revenue figure rose by 25% to £1.17mln. The company’s managed services order book also rose to £2.9mln from £2.7mln, while consulting revenues increased by 4% to £1.24mln.

Adamas Finance Asia Limited (LON:ADAM), the pan-Asian diversified SME investor, said investee company Future Metal Holdings’ dolomite quarry in China is expected to operate at full production for the remainder of 2020. Future Metal Holdings (FMHL) is a natural resources company majority-owned by Adamas and which operates an open-pit dolomite quarry in Shanxi Province, China. In early 2020, quarry operations paused temporarily due to the coronavirus (COVID-19) pandemic, Adamas said, but resumed in mid-March as China gradually recovered from the crisis. Adamas Finance also announced, separately, that at the company's general meeting held on Wednesday, August 5, 2020, at Level 12, Infinitus Plaza, 199 Des Voeux Road Central, Sheung Wan Hong Kong, the resolution put to shareholders to change the company's name to Jade Road Investments Limited was duly passed.

AfriTin Mining Ltd (LON:ATM) told investors that monthly tin production at the Uis mine, in Namibia, rose to 35 tonnes, up 79% month-on-month. Production for the year to date totalled 112 tonnes after the month of July, it added. The group highlighted that it is targeting output of 60 tonnes per month, which would result from the processing of some 45,000 tonnes of ore per month (at a rate of 80 tonnes per hour).

Argo Blockchain PLC (LON:ARB) has reported a higher average monthly mining margin from its cryptocurrency operation in July. In an operational update for the month, the AIM-listed firm reported a margin of 34%, up from 27% in June, adding that at the end of the period it held 76 Bitcoin and Bitcoin equivalents (BTC) in accordance with its asset management strategy. Argo also reported that during the month it had mined 165 Bitcoin and BTC compared to 180 in June, taking the total mined in the year-to-date to 1,834 BTC.

Sunrise Resources PLC (LON:SRES) told investors that the Nevada authorities have now issued the notice of a final decision to grant the required mine reclamation permit for the group's CS Project. The Nevada Bureau of Mining Regulation and Reclamation’s (BMRR) final decision approves the company's proposed mine reclamation plan. It is subject to a 10-day appeal period and will become effective on August 15. Sunrise Resources also announced that, following the appointment of Peterhouse Capital as broker to the company on 4 November 2019, Beaumont Cornish ceases to act as its joint broker with effect from today although it remains the company's nominated adviser.

Mosman Oil And Gas Ltd (LON:MSMN) has told investors that the Champion project’s Falcon-1 site preparation is now complete and drilling is due to start shortly. Contracts are now being finalised and a rig is available with drilling operations expected to take a few weeks. Elsewhere, at the Greater Stanley project, the operator has now submitted all paperwork to the Texas Railroad Commission and this workover is expected to commence shortly.

InnovaDerma PLC (LON:IDP), a UK developer of beauty, personal care and life science products, has announced that Kieran Callan has stepped down as its chief executive officer and as a director of the company with immediate effect, by mutual agreement with the board. It said Callan will continue to be available until August 31, 2020, for any handover and to assist the board in any relevant matters. The group said it has commenced a formal process for the identification and appointment of a new CEO and will provide updates, as appropriate, in due course. In the meantime, Joe Bayer will serve as Interim CEO as well as executive chairman. In addition, InnovaDerma announced that Warren Dockary, currently its group financial controller has been appointed as chief financial officer and will report to the board.

Europa Metals Ltd (LON:EUZ) has shuffled its board with Laurence Read now chief executive and Myles Campion moving up to executive chairman from technical director. Previous chairman Colin Bird has stepped down with immediate effect. Europa is developing the Toral zinc-lead project in Spain and said that given the progress made over the past 18 months it is commissioning an independent JORC-compliant resource survey. Addison Mining Services will carry out the work and update the previous estimate to include the results of the 2019 drilling programme.

Redx Pharma (LON:REDX), the drug discovery and development company focused on cancer and fibrosis, has announced that, following the successful completion of the loan note fundraising and receipt of funds, Thomas (Tom) Burt has been appointed as a non-executive director of the company with effect from August 4, 2020. It noted that Burt brings extensive investment experience in the sector to his role at Redx and will represent Sofinnova on the board of directors under the terms of the subscription for shares by Sofinnova Crossover 1 SLP. He has been a partner in the Crossover fund at Sofinnova Partners since its inception in 2017, prior to this, he was a research analyst covering UK healthcare and life science equities at Peel Hunt, joining in 2015 after six years as an Investment Director at specialist life science investors, Ares Life Sciences and Novo Holdings. Iain Ross, Redx’s chairman commented: "I am looking forward to working with Tom and to ensuring that we grow Redx into a substantive biotech company."  Burt added: "I am pleased to be joining the board as a non-executive director and helping the Company drive forward its next phase of growth."

ANGLE PLC (LON:AGL), a world-leading liquid biopsy company, has said its annual general meeting (AGM) will be held at 2.00pm on Thursday, August 27, 2020, as a closed meeting at ANGLE PLC, 10 Nugent Road, Surrey Research Park, Guildford, GU2 7AF. Due to the unprecedented situation with coronavirus (COVID-19) and in line with the UK Government's measures to maintain social distancing, shareholders and any other persons will not be permitted to attend the AGM in person and shareholders are therefore strongly encouraged to submit their proxy votes online via www.signalshares.com or CREST where applicable. The AGM will be streamed online and shareholders will be able to watch the AGM remotely via an electronic platform, details of which are provided in the Notice of AGM. The company will also be hosting a business update presentation for shareholders after the formalities of the AGM are concluded. Shareholders may submit questions to the board in advance of the AGM and business update presentation by email to [email protected] before 5.00pm on Wednesday, August 26, 2020.

Regency Mines PLC (LON:RGM), the natural resource exploration and development company with interests in battery metals and flexible grid solutions, has said that, as part of its corporate rebranding, it is proposing to change its name to Corcel PLC. The purpose of the name change is to more closely reflect the company's strategy to develop its businesses across the battery metals exploration and flexible grid solutions space. It said an application is being made to Companies House for the name change and further announcements regarding the change of name and when trading under the new name commences will be made in due course. A new website will also be launched simultaneously to the name change.

Amur Minerals Corporation (LON:AMUR), the nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, said that, under the fixed term loan note agreement entered into with Plena Global Opportunities announced on March 12, 2020, the investor has elected to convert 15,000,000 warrants at an exercise price of 1.43p per share providing the company with £214,500. The investor has 11,223,776 warrants remaining. The company repaid the loan note in full on May 4, 2020.

European Metals Holdings Limited (LON:EMH) (ASX:EMH) said it has issued 750,000 new ordinary shares (represented by Depository Interest shares) in the company in respect of an exercise of options at AU$0.166 per Depository Interest shares.

Power Metal Resources PLC (LON:POW) the AIM-listed metals exploration and development company announced that PKF Littlejohn have now been appointed as the company's statutory external auditors with immediate effect. Paul Johnson, the chief executive officer of Power Metal commented: "I would like to thank BDO for their services to Power Metal in recent years and also welcome PKF as the new auditors to the Company." Separately, POW announced that Johnson had purchased 1mln shares at a price of 1.1275p through his Self-Invested Personal Pension.

Avation PLC (LON:AVAP) said it is “not aware of any decision” by Virgin to return five of its ATR72-600 aircraft that are currently leased to the travel group.

W Resources PLC (LON:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, said it has drawn down a £500,000 tranche from the £4.0 million Atlas Capital Markets convertible bond facility, which was secured on March 30, 2020. The convertible bond tranche has a 5% coupon and 3-year term. As part of the agreement, Atlas can convert the bond to W shares by issuing a conversion notice with the price set at 95% of the selected 3-day VWAP in the 15 days leading up to the issue of a conversion notice by Atlas. Michael Masterman, chairman of W Resources, commented: "The Board deemed it prudent to establish a financial buffer to mitigate against the challenges of COVID-19, which includes the delay of receipt of the Extremadura government Grant. This drawdown of £500,000 on our £4.0 million Atlas facility, provides working capital for La Parrilla and will continue to advance Régua towards grant of the full mine licence. Our priority and focus is to complete the upgrades required to the La Parrilla plant in order to increase tungsten production, in parallel with continuing to run the company with a lean cost structure." The Atlas convertible bond facility is unsecured and subordinated to the BlackRock Financial Management Inc. loan facility with BlackRock consent required for any repayment.

Woodbois Ltd. (LON:WBI), the African focused forestry and timber trading company, has announced that at its general meeting held on Wednesday, all the resolutions to approve its fundraise and debt restructuring put to the meeting were duly passed.

Bushveld Minerals Limited (LON:BMN), the AIM-quoted, integrated primary vanadium producer and energy storage provider, with ownership of high-grade assets in South Africa, announced that all resolutions put to shareholders at its annual general meeting held on Wednesday were duly passed.

TomCo Energy plc (LON:TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, has announced that all resolutions put to shareholders at the company's annual general meeting, held on Wednesday, were duly passed.

RM Secured Direct Lending Plc (LON:RMDL) has declared an interim dividend of 1.625p per ordinary share in respect of the period from 1 April 2020 to 30 June 2020: The ex-dividend date is 3 September 2020.

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