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Proactive news headlines: Block Energy, ImmuPharma, Genedrive, Argentex Group …

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

Block Energy PLC (LON:BLOE) has told investors it is expected to close its acquisition of the Schlumberger Rustaveli Company Limited (SRCL) entity on November 23, 2020. Additionally, the company noted that amended deals terms will see it also take possession of some 29,000 barrels of crude oil inventory. Block said that this will be a welcome boost to its balance sheet

ImmuPharma PLC (LON:IMM) (Euronext Growth Brussels:ALIMM) has said that its partner Avion Pharmaceuticals will discuss with US regulators early next month plans for an optimised phase III study of a lupus drug developed by the UK company. At the Type ‘A’ Meeting, to be held on December 4, the firm said Avion will ask for guidance from the US Food & Drug Administration (FDA) on key aspects of the study design, clinical endpoints and the approval process for treatment, called Lupuzor. It will also request the FDA consider conditional approval of the drug, whilst the final-stage trial is taking place.

Genedrive PLC (LON:GDR) chief executive David Budd hailed as 'excellent'  the results from an Indian study that showed the group's hepatitis-C (HCV) testing kit was able to determine who did and didn’t have the disease with 100% accuracy. Overall, the data demonstrated that the rapid point-of-care device was suitable for use in a country where infections estimated at between six and 12 million, the company added. "These excellent clinical results for our HCV assay further validate the applicability of the test for a decentralised setting,” explained Budd. “India is a key target market for our assay and we are excited about the commercial prospects in the region."

Argentex Group PLC (LON:AGFX) has hailed a record number of new corporate clients in its second quarter as well as “encouraging” trading into the second half of its current year. In its results for the six months to September 30, 2020, the provider of foreign exchange services said it had recruited 126 new corporate clients in the second quarter, while the number of corporate clients trading during the period was up 15% year-on-year at 212. Argentex also highlighted “encouraging levels of client activity” in September, which it said pointed to an unwinding of pent-up demand. Revenues generated during the month were up 57% of the figure from August.

ECR Minerals PLC (LON:ECR) said its subsidiary Mercator Gold Australia (MGA) has taken delivery of a new drill rig and is preparing to start a programme on the HR3 prospect, in the Bailieston project area. The company noted that all necessary permissions are in place for drilling at the HR3 prospect. HR3 comprises at least four closely-spaced lines of reef, including the Byron, Dan Genders, Scoulars and Maori Reefs, ECR noted.

US Oil & Gas PLC (LON:USOP) told investors that the Bureau of Land Management has approved the necessary Permit to Drill for the proposed Eblana-9 well, at the Hot Creek Valley project in Nevada. Groundwork to prepare the well site for drilling will kick off immediately and it is slated to take three days to complete, the group added. Meanwhile, the company said it expects to sign contracts with the rig supplier and other services without delay.

Power Metal Resources PLC (LON:POW) said work to enlarge the Alamo Gold Project in Arizona, USA, is set to start next month. The AIM-listed metals exploration and development company has the right to earn-in up to a 75% interest in the project. Power Metal said that following completion of the reconnaissance programme, an additional nine claim blocks have been staked to enlarge the project by 23.5% to a total 946 acres. in a separate statement, Power Metals also provided an update on its 70%-owned Kisinka project in the Democratic Republic of Congo, where a laboratory has been examining assay results from a pitting and mapping exploration programme earlier this year. It said copper values from soils were up to 460 copper parts per million (ppm) parts of soil (ppm) in the south-eastern zone and 276 ppm in the mid-north zone, the company said, with copper values increasing downwards. And in a third statement, Power Metal also announced the commencement of the second diamond drill hole (KKME 1-6) at the Kalahari Key Mineral Exploration Pty Ltd Molopo Farms Complex Project, which is targeting prospective massive nickel sulphide and platinum-group metal ("PGM") mineralisation in Botswana.

Red Rock Resources PLC (LON:RRR) said a team has been mobilised to begin a programme of geophysics at its Luanshimba license in the south-east of the Democratic Republic of Congo to follow up a strong copper and cobalt anomalism identified in the southern part of the license by termite mound sampling in 2018. The AIM-listed firm said the programme will consist of a 70.95 Kml ground magnetics survey on a north-south spacing of 100 metres and an east-west spacing of 200 metres, a 12 Kml induced polarization survey on 6 lines of 2 Kml each, the provision of raw data from Ronacher McKenzie Geoscience for interpretation and checking on-site artisanal activity.

Thor Mining PLC (LON:THR) told investors it has executed an agreement to acquire an interest in the Alford East copper-gold project, in South Australia. The company will acquire up to 80% of Alford East which comprises numerous oxide copper-gold prospects – namely Alford East, Netherleigh Park and Netherleigh North – which have each seen extensive drilling in the past.

Base Resources Limited (LON:BSE) (ASX:BSE) said its Kwale operations in Kenya exceeded expectations in the first full year of mining in the South Dune. In a statement released on the day of the company’s annual general meeting, chairman Keith Spence noted that the Kwale operations remained at full-pelt and met shipping schedules throughout the fiscal year despite the problems posed by the coronavirus pandemic. In a separate statement, Base Resources said that all resolutions set out in the Notice of Annual General Meeting and put to shareholders at Friday’s meeting were carried.

Metal Tiger PLC (LON:MTR), the AIM-listed investor in natural resource opportunities, has noted a press release from Cobre Limited (ASX:CBE) regarding the successful completion of the due diligence period under the Heads of Agreement Cobre executed with the company for the proposed scrip-based acquisition of up to a 51% interest in the equity of Kalahari Metals Limited. The transaction remains subject to finalising transaction documents, receipt of relevant regulatory approvals, and approval by Cobre shareholders at an Extraordinary General Meeting which is expected to occur in early 2021. Metal Tiger owns 18.79% and 62.2% of the issued share capital of Cobre and 62.2% interest in Kalahari Metals Limited, respectively.

Allergy Therapeutics PLC (LON:AGY), the fully integrated specialty pharmaceutical company specialising in allergy vaccines, announced that Peter Jensen, the group’s non-executive chairman, has purchased 100,000 ordinary shares of 0.1p each in the capital of the company at a price of 14p per ordinary share. Following the transaction, the group said the total beneficial interest of Jensen is 270,000 ordinary shares, representing 0.04% of the issued share capital of the company to which voting rights are attached.

Salt Lake Potash Limited (LON:SO4) (ASX:SO4) advises that at the annual general meeting of the company held on Friday, November 20, 2020, at 11.00am (WST) all resolutions were voted on and carried by way of a poll.

Tavistock Investments PLC (LON:TAVI) announced that it is convening a general meeting (GM) of the company's shareholders at 11.30am on Wednesday, December 16, 2020, at the company's offices at 1 Bracknell Beeches, Old Bracknell Lane, Bracknell RG 12 7BW. The purpose of the GM is to seek Shareholders' approval for the creation of a new class of growth shares and to make other minor amendments to the Company's Articles of Association to update them generally. The new proposal offers the Executive Directors and other members of the leadership team the potential of reward should they achieve more demanding performance hurdles than those attached to their current share options but also introduces peril (the risk of loss) for non-performance. Due to the current coronavirus (COVID-19) measures implemented by the Government in the United Kingdom shareholders will not be permitted to attend the GM. If shareholders have any questions or comments relating to the business of the meeting that they would like to put to the Board then they are requested to submit those questions in writing via email to [email protected] no later than 11.30am December 14, 2020. The board will publish a summary of any questions received which are of common interest, together with a written response on the company's website as soon as practicable after the conclusion of the meeting.

Frontier IP Group PLC (AIM: FIPP), a specialist in commercialising intellectual property said its annual general meeting (AGM) will be held at 93 George Street, Edinburgh, EH2 SE3 at 11.00am on December 17, 2020. In light of social distancing measures as a response to the coronavirus (COVID-19) pandemic, this year's AGM will be run as a closed meeting and shareholders will not be permitted to attend the AGM. As shareholders will not be able to attend in person, questions in relation to any of the resolutions to be proposed at the AGM, the Annual Financial Statements or the business of the company, should be submitted to [email protected] by 12.00pm on December 15, 2020 (including 'AGM 2020' in the subject heading). Questions will be grouped into themes and addressed on the company's website as soon as practicable following the AGM.

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