Cash is tight in the mining sector right now, say Stifel GMP analysts who attended the Precious Metals Summit in Beaver Creek, Colorado, but investors are still willing to shell out for attractive projects.
Reflecting on the summit, analysts Alex Terentiew and Stephen Soock wrote that despite struggling equity markets and companies being increasingly frugal, there is still upside to be found for investors. In particular, the pair pointed to a C$150 million bought deal equity financing posted literally the Monday morning before the conference which will fund construction of Marathon Gold's Valentine project.
Mila Resources shares climbed higher on Wednesday as it reported another possible thick gold intersection at its Kathleen Valley project in Western Australia.
The company said a 10 metres (m) wide zone of sulphide bearing alteration between 256.3m-266.5m was visually consistent with the previously reported mineralised gold-silver-zinc bearing zone at the Coffey Deposit.
IXICO PLC (AIM:IXI, OTC:PHYOF) has updated investors on the Huntington's Disease Imaging Harmonization Consortium (HD-IH) consortium which is working on technologies to better understand the structural brain changes that occur over the course of the disease.
The AI and data analytics specialist highlighted that the consortium, previously announced in May 2022, will use artificial intelligence technology to conduct large-scale analysis of brain changes in Huntington's disease
Quantum Blockchain Technologies PLC (AIM:QBT), the AIM-listed technology investment company focused on disruptive proprietary Bitcoin mining technology, continued to invest in research and development throughout the first half of 2022, according to recently published interim results.
As a company still in its R&D phase, Quantum did not generate revenues for the six months ended June 30.
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) chief executive Colin Harrington described the first six months of 2022 as “another transformational time” for the company, which has both expanded its production and also advanced it primary project in Utah’s Paradox basin.
The oil and gas company generated some US$25.9mln of revenue from its portfolio of non-operated production wells in the Williston Basin, with earnings (adjusted EBITDA) coming in at around US$19mln and net profit after tax reported at US$17.4mln.
Galliford Try Holdings PLC (LSE:GFRD) has hiked its dividend by 70%, announced a £15mln share buy-back, and gave a confident outlook after a year where profits grew more than expected.
The construction group, which focuses on the education, health and water sectors as well as highways, reported a £19.1mln profit before tax and exceptional costs for the year to end-June 2022, which was up 68% on the prior year and well ahead of the City consensus forecast of £17.7mln.
Empire Metals Ltd (AIM:EEE) said it has identified “a suite of anomalous conductive features”, many in unexplored areas from an airborne electromagnetic (AEM) survey of the Pitfield copper-gold project in Western Australia.
In particular, the survey identified a 30 kilometre (km) long regional alteration feature, considered highly prospective for sediment-hosted copper, defined from the interpretation of the AEM survey and aeromagnetic data.
Poolbeg Pharma PLC (AIM:POLB, OTCQB:POLBF) said it has signed an exclusive licence agreement with University College Dublin’s knowledge transfer office for a prospective vaccine for Melioidosis.
The deal builds on the option agreement for the late-preclinical drug candidate, known as POLB 003, signed last December.
Cellular Goods PLC (LSE:CBX) said it has made a “significant expansion” to its ‘Look Better’ range, launching three new products.
The new Rejuvenating products, Rejuvenating Night Cream, priced at £89, SPF Rejuvenating Day Cream, £79, and the Rejuvenating Day Mousse, £69, have been added to its anti-ageing range, supplementing its Rejuvenating Cannabinoid Serum.
Quadrise Fuels International PLC (AIM:QFI, OTC:QDRSF) said it has signed a development agreement (JDA) with lignin biofuel specialist Vertoro, which supplies sustainable biomass-based biofuels made from agricultural and forestry residues.
Vertoro makes GEM, a crude lignin oil that is a potential alternative to methanol with CSO, an advanced crude sugar oil, a water-soluble by-product of the process.