Asiamet Resources Ltd (LON:ARS) has boosted its cash balance in the first half of its current year to US$2.03mln from US$418,000 in the year-ago period. The AIM-listed firm also reported that for the six months ended June 30, 2020, its net losses had narrowed to US$2.1mln from US$4.2mln the previous year.
SDX Energy PLC (LON:SDX) chief executive Mark Reid has described the first half of 2020 as ‘strong’ for the company, despite the challenges during the period. “Production hit record levels and we made some important discoveries in both Egypt and Morocco, which have added significant value to the company’s portfolio, with the Sobhi discovery, in which we have a 100% working interest, expected to be brought on stream in Q1 2021,” Reid said in the group’s interim financial results statement. In terms of the financial results, the Egypt and Morocco-focused oil and gas firm confirmed 97% production growth versus the same period in the preceding year – with entitlement production amounting to 6,980 barrels of oil equivalent per day (boepd). Production growth was driven by output from the South Disouq field, which continued to perform ahead of expectations. It contributed some 4,825 boepd net to SDX.
Capital Limited (LON:CAPD), the mining services company, has said its business continued to perform strongly in the first half of 2020 despite the coronavirus (COVID-19) pandemic. The company’s business is focused on African markets and gold mining in particular so the rocketing price of gold has been a boon for the company. Strong demand for drilling services is anticipated once the West African wet season has passed. Revenue in the first half of the year rose to US$65.09mln from US$54.83mln the year before. Profit before tax soared to US$19.13mln from US$7.59mln in the first half of 2019, thanks largely to a US$9.98mln “fair value” gain on investments.
Inspiration Healthcare Group PLC (LON:IHC) has said it remains optimistic on prospects for “this financial year and beyond” as it updated on progress fulfilling an NHS ventilator contract. The group said it had delivered a further £1mln of equipment, taking the running total to £3mln. In March it won new business worth £5mln from the UK health service. “We have continued to work tirelessly with our partners to get the ventilators into the UK and delivered to the NHS,” Inspiration chief executive Neil Campbell said in the statement. Investors were told the integration of S.L.E., bought for £18mln in June, was going to plan and the business has delivered a further £500,000-worth of ventilators.
Gfinity PLC (LON:GFIN) has said it is planning to launch a new virtual racing website, racinggames.gg, which will allow motorsport fans to read news, share opinions, and follow global virtual racing esports and competitive gaming events. The esports group said the site, which is expected to go live in the fourth quarter of 2020, will leverage its existing market position in virtual motorsport built through relationships with F1, IndyCar, Forza and most recently Abu Dhabi Motorsport Management. The site will cover all virtual motorsports including the F1 Esports Series and all existing and future Global Racing Series virtual racing competitions. Gfinity also said the site will drive the reach of the Global Racing Series competitions and its commercial value with brands, broadcasters and teams.
Falcon Oil & Gas Ltd (LON:FOG) (CVE:FO) has told investors that it is presently expected, subject to coronavirus (COVID-19) related restrictions, that fracture stimulation of Kyalla 117 well will start in the coming weeks. The company noted that the Kyalla 117, at the Beetaloo project in Australia’s Northern Territory, was drilled successfully in February – confirming good reservoir continuity, conductive natural fractures and continuous gas shows – before operations were suspended in March due to the pandemic. It is now anticipated that the fracking programme for Kyalla 117 will happen in the third and fourth quarters, followed by a production test starting later in the fourth quarter. Results of the test are likely to come in the first quarter of 2021, Falcon added.
Coinsilium Group Limited (LON:COIN) said it has begun active management of cryptocurrencies its holds in treasury, while also extending its initial staking activities. The blockchain and crypto venture group said as of August 19, 2020, the value of its fully vested crypto and token treasury is US$575,134 and predominantly denominated in “highly liquid” cryptos such as Bitcoin and Ethereum. Coinsilium also said in addition to its treasury position there are a further US$104,559 of RIF tokens that it will vest monthly over the next 27 months.
Union Jack Oil PLC (LON:UJO) and its partners in the West Newton discovery are advancing efforts to select new well locations, as they seek to start planning for the next phases of the Yorkshire oil project. Project operator Rathlin Energy has submitted screening requests to the East Riding of Yorkshire Council for two new potential hydrocarbon well sites, UJO noted in a statement. Screening the possible well sites, for the West Newton C and West Newton D wells respectively is the first step in the planning process to further explore and appraise the West Newton hydrocarbon field.
Tiziana Life Sciences PLC (NASDAQ:TLSA) (LON:TILS) said Dr Napoleone Ferrara, an award-winning scientist who helped invent two blockbuster drugs, has agreed to serve on the company’s scientific advisory board for a further three years. Ferrara, currently a professor at the University of California San Diego Medical Center, made pivotal contributions to the discovery of cancer drug Avastin and Lucentis, for an eye condition called macular degeneration. Last year the two products netted sales of more than US$9bn worldwide. A highly decorated researcher, Ferrara, a member of the National Academy of Sciences, has won the coveted Lasker Award and the Breakthrough Prize in Life Sciences.
Metal Tiger PLC (LON:MTR) said Cobre Limited, in which it owns an 18.8% stake, has reported further assay results from a drilling campaign at its Perrinvale high-grade volcanic-hosted massive sulfide (VHMS) project in Western Australia The resource investment firm said the majority of the assay results from the campaign have now been received, with recent drill holes at the Schwabe prospect continuing to deliver high-grade intercepts.
Power Metal Resources PLC (LON:POW) has exercised its option to take its ownership in the Haneti nickel project in Zambia up to 35%. Previously Power Metal held a 25% ownership interest in Haneti, with 75% held by Katoro Gold PLC (LON:KAT). However, Power Metal also held an option to boost its stake, and it has now paid £25,000 to Katoro, to do so.
Trident Royalties PLC (LON:TRR) said its shares have commenced trading on the quotation board segment of the open market of the Frankfurt Stock Exchange. The shares are listed with the ticker 5KV. The group said the secondary listing on the Frankfurt Stock Exchange will introduce Trident to a new pool of investors who are well acquainted with the mining sector. No new capital is being raised but the expectation is that the listing will increase the overall liquidity of the company’s shares – which also remain listed on London’s AIM.
Oriole Resources PLC (LON:ORR), the AIM-quoted exploration company focused on West Africa, said that under the directors’ share option remuneration plan, enacted to maximise funds available for exploration, options over 39,884,912 ordinary shares in the company have now been granted in lieu of four months’ salary that was accrued between November 1, 2019, and February 29, 2020. The options have an exercise price of 0.1p and, being an award in lieu of salary, are not subject to performance conditions and will expire after ten years. In aggregate this award of options is equivalent to 4.38% of the current issued share capital of the company. Oriole chairman John McGloin commented: “Back in 2019, when the Board decided to implement a policy of foregoing salary in lieu of share options, in order to conserve cash for the exploration needs of the Company, the spectre of COVID-19 had yet to bring the world into lockdown. This cash saving measure now looks all the more important in light of the global pandemic and economic turbulence suffered in 2020. The investment of four months’ accrued salary into equity in the Company shows the confidence of the Board in the future of the Group, and we look forward to delivering on our extensive exploration plans during the latter half of 2020.”
Quadrise Fuels International PLC (LON:QFI) has announced that, following receipt of a notice of exercise in respect of the convertible security issued by the company on August 30, 2019, to convert £300,000 into new ordinary shares in the company at a conversion price of 1.6p per new ordinary share, the group has issued 18,750,000 new ordinary shares. It noted that an amount of £1,400,000 remains outstanding under the convertible security.
Nuformix PLC (LON:NFX) announced that all resolutions proposed at its annual general meeting held on Thursday were duly passed on a poll.
Landore Resources Limited (LON:LND) announced that at the company’s annual general meeting and extraordinary general meeting, both of which were held on Thursday, all resolutions proposed were passed by shareholders.
Pelatro PLC (LON:PTRO), the telecom Customer Engagement software specialist, has announced that, at its general meeting held on Thursday, all resolutions proposed were duly passed by shareholders. Accordingly, the company will raise a total of approximately £2.1mln (before expenses) via a placing and subscription through the issue and allotment of 4,500,000 new ordinary shares.
accesso Technology Group PLC (LON:ACSO) , the premier technology solutions provider to leisure, entertainment and cultural markets, has confirmed that it will announce its interim results for the six months ended June 30, 2020, on Wednesday, September 16, 2020.
Ergomed PLC (LON:ERGO), a company focused on providing specialized services to the pharmaceutical industry, has said it will announce its interim results for the six months ending June 30, 2020, on September 22, 2020. It noted that Miroslav Reljanović, the group’s executive chairman and Richard Barfield, its chief financial officer will host a virtual presentation and conference call for analysts at 9.00am BST on the day of the results.
Published at Thu, 20 Aug 2020 14:30:00 +0000-Proactive news headlines: Asiamet Resources, SDX Energy, Capital Limited, Inspiration Healthcare Group …