leadf
logo-loader

Breakfast News - Thor Mining, Nu-Oil and Gas, Quiz and more...

AVU holds interests in uranium and vanadium focussed projects in Colorado and Utah in the United States of America. The Company announced on 1 June 2020 an option agreement to acquire AVU, subject to satisfaction of due diligence requirements. Thor will now proceed with the issue of 24 million Ordinary shares of 0.01p each, in full payment of the Acquisition Fee for a 100% interest in AVU.

Thor Mining PLC - Breakfast News - Thor Mining, Nu-Oil and Gas, Quiz and more...

Banquet Buffet

Thor Mining 0.675p  £8.65m (LON:THR)

Completion of the acquisition of American Vanadium Pty Ltd (AVU), including its subsidiaries and uranium and vanadium  projects.

AVU holds interests in uranium and vanadium focussed projects in Colorado and Utah in the United States of America. The Company announced on 1 June 2020 an option agreement to acquire AVU, subject to satisfaction of due diligence requirements. Thor will now proceed with the issue of 24 million Ordinary shares of 0.01p each, in full payment of the Acquisition Fee for a 100% interest in AVU.

· Colorado project claims include historical mines with historical production activity over a period of more than 100 years.

· Utah project claims have reported historical drilling with significant intersections of uranium and vanadium.

· Field sampling by Thor during due diligence period showed assay results of high grade uranium (up to 1.25%U3O8 ) and vanadium (up to 3.47% V2O5)

 

Nu-Oil and Gas  SUSPENDED (LON:NUOG)

Update from the AIM Rule 15 cash shell. In line with the guidance issued in Inside AIM: Coronavirus - Temporary Measures 20 March 2020, the Company has been granted an extension to the deadline by which it must complete a reverse takeover (as set out in AIM Rule 15) (a "RTO") by six months from 4 November 2020. Accordingly, the Company has approximately eight months from today's date to complete a RTO. 

Since the Company's last notification on 8 July 2020, the Board has progressed discussions with two counterparties who are both in the circular economy industries and specifically in plastics recycling and manufacturing. The Board expects it will be able to provide a further update shortly with further details of a proposed transaction.

 

Quiz  7.59p  £9.4m (LON:QUIZ)

Update on its retail store portfolio and current trading during the period between 1 April 2020 to 31 August 2020 . Prior to the Restructuring, the Group operated 75 standalone stores in the United Kingdom. As at 9 September 2020, the Group has so far reopened 48 stores and anticipates reopening a total of approximately 60 stores in the United Kingdom. Rental terms for the reopened stores are consistent with those targeted by the Group. They provide a flexible cost base going forward with rents payable predominantly based upon revenues generated rather than previous higher fixed rental arrangements. The average lease length on these stores is 24 months.

Further to the Restructuring, the Group closed its seven stores in the Republic of Ireland and three in Spain. As at 9 September 2020, the Group has reopened four of these stores with negotiations continuing in relation to two other stores. The Group has decided not to reopen any of the Spanish stores.

The Group's total sales in the Period amounted to £12.8m, a 77% decline on the £55.2m revenues generated from 1 April to 31 August 2019 . Whilst sales generated in UK standalone stores and concessions remain below levels generated in the previous year, the Group is encouraged by the consistent improvement in like-for-like sales in recent weeks.

 

Mpac Group  300p  £60.5m (LON:MPAC)

Acquisition of Switchback Group, Inc. ("Switchback"), a USA based supplier of packaging machinery and automation solutions to the food, beverage and healthcare markets (the "Acquisition"). The Board expects the Acquisition to be immediately earnings enhancing.

The initial consideration for Switchback is $13.0 million, payable in cash. Further earn-out consideration of up to $2.0 million may become payable depending on performance. The unaudited financial statements of Switchback for the year to 31 December 2019 showed revenue of $14.2 million and profit before tax of $2.1 million.  Unaudited net assets at the same date were $4.4 million including net cash of $4.9 million.

 

Haydale Graphene 4.075p  £13.9m (LON:HAYD)

Proposed placing and subscription  at 3.5p.

 

Haydale has concentrated on technologies where it can demonstrate and sustain a technological advantage and where it can see a clear commercial pathway.  To take advantage of that opportunity Haydale needs to be able to produce industrial volumes cost effectively.  In the last 18 months Haydale has significantly increased its production capacity whilst improving the consistency of that output. A new contract win announced today requires Haydale to manufacture a significant volume of functionalised Graphene and this level of output is now possible.

 

Galantas Gold  20.5p  £6.6m (LON:GAL)

Appointment of Alan Buckley FCA, Dip IOD, as Chief Financial Officer. The appointment, as of September 30, 2020, follows the reducing of work commitments by Leo O'Shaughnessy, the current non-board CFO. Mr. Buckley's appointment is similarly non-board.

Alan Buckley (49) is a Fellow of the Irish Institute of Chartered Accountants. During his career, Mr.Buckley has held the positions of Chief Financial Officer and General Manager at Vedanta Lisheen Holdings Ltd and was Chief Financial Officer for Anglo American Lisheen Mining Ltd. Alan also has a continuing role as a Director of Shanoon Resources Ltd, an early stage mining and exploration company, founded in 2016, which has operating licenses in County Kilkenny, Republic Of Ireland.

 

Powerhouse Energy 3p  £105.4m (LON:PHE)

The UK technology company pioneering hydrogen production from waste plastic, has raised £5 million, before expenses, by way of a Placing and Subscription  at 2.5p per share. The Directors believe the Fundraising will provide the necessary cash resources for Powerhouse to reach profitability and to implement its wider strategy for international growth.

In addition, the Company has granted a warrant to Peel Holdings (IoM) Limited, providing a conditional right to subscribe up to approximately £10.2 million for up to 10% of the Company at a 10% premium to the Issue Price.

 

Tern 6.5p  £19.6m (LON:TERN)

The investment company specialising in the Internet of Things ("IoT"), updated in relation to its wholly-owned portfolio company, Wyld Networks Limited ("Wyld"), and its existing cooperation agreement with one of the largest global satellite operators. 

Wyld has received an initial purchase order for £112,600 to develop and deliver a small number of proprietary-designed Low Power Wide Area Network ("LPWAN") IoT modems to be functionally tested with a pre-commercial low earth orbiting ("LEO") satellite.  The Board of Tern (the "Board") believes that, following successful testing, a full deployment of this technology with a LEO satellite constellation could follow.

 

Tectonic Gold  0.35p  £2.44m (AQSE:TTAU)

Completion of a capital raise to fund follow up drilling at the Company’s Specimen Hill gold project in Queensland. Australia. The raise was  supported by existing shareholders and new high net worth investors.

£402,800 raised at 0.275p per share to fund ten-hole drilling program in October 2020. Attaching one-for-one “Drill Warrants” at 0.7p

Program targeting extensions identified by the successful 2019 drilling campaign (intersections up to 35g.t Au) at Specimen Hill

New discovery “Southern Copper” (surface samples up to 16% Cu and 9g.t Au)

Rio Tinto PLC acquired neighbouring tenement in March 2020

Pure play Australian gold focus following sale of Diamond and Mineral Sands projects

Directors taking 100% of accrued remuneration in options

 

Amryt Pharma  227p  £360m (LON:AMYT)

positive top line results from its pivotal Phase 3 EASE trial of FILSUVEZ® (previously AP101 /Oleogel-S10) for the treatment of dystrophic and junctional   Epidermolysis Bullosa ("EB").  - Primary endpoint met with statistical significance (p-value = 0.013). - FILSUVEZ® demonstrated a good safety profile

- EASE is the first Phase 3 trial to demonstrate a statistically significant increase in speed of wound healing in Epidermolysis Bullosa. - Rolling US regulatory submissions already underway with FDA with priority review request planned  -  EU regulatory submission planned with request for accelerated assessment.

- FILSUVEZ®, a topical therapeutic gel, has the potential to be the first treatment approved for Epidermolysis Bullosa

 

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

Amryt Pharma presents at the Proactive One2One virtual conference

Amryt Pharma's LON:AMYT) Rory Nealon presents at the Proactive One2One virtual conference. Amryt Pharma is a commercial stage pharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of people with rare and orphan diseases. The company...

6 hours, 14 minutes ago

12 min read