Proactive news snapshot – Tharisa PLC, Redx Pharma PLC, Tlou Energy PLC…


Platinum group metals and chrome producer PLC said it has inked a strategic co-operation agreement with the Shanxi Taigang Wanbang Furnace Charge Co, a joint venture company of the Chinese giant Taiyuan Iron & Steel Co (TISCO).


The five-year deal, which starts next month, will see supply a minimum of 240,000 tonnes of metallurgical-grade chrome concentrate, which is around a quarter of its production.


Elsewhere, () (LON: TYRU) said today that its overall trading remains satisfactory and the life sciences technology company expects to report results in-line with current market expectations.


The one-line trading update came as the AIM-listed firm revealed it will announce its results for the six months ended 30 June 2017 on September 12.


() is set to launch its LPLDL cholesterol and blood pressure lowering strain in the United States next month.


The life sciences group will exhibit at the Supply Side West trade show in Las Vegas at the end of September where it will present various products that contain the LPLDL strain, including CholBiome and CardioBiome.


Group PLC (), a specialist in turning waste into synthesis gas, said it had recruited a new chairman as well as successfully completing an oversubscribed £1.6mln City fundraiser.


The appointment first: Powerhouse has brought on board Dr Davies, founder of gas-to-power firm , which he brought to AIM and then subsequently helped sell to Balfour Beatty Infrastructure Partners for £60mln.


In other news, () has told investors that flow testing operations on the Icewine-2 appraisal well are due to start in Alaska next week.


The company noted that this schedule represents a one week delay, caused by fine tuning of the testing procedure.


() has flagged a rescheduling of the proposal deadline for a coal bed methane pilot plant


 The AIM-quoted company, in a stock market statement, told investors that the new deadline for the request for proposal (RFP) has moved to September 20 from August 23.


() said Auroch Minerals – in which Cadence currently owns a 7.7% stake – has revealed encouraging sampling results from the second round of multi-elemental analysis on waste dumps at the Tisová – Co Cu Au project.


In a statement, Cadence said results from second round testing of historic waste dumps confirm cobalt presence at Tisová, as well as significant grades of copper, gold and silver.


In a separate statement today, Cadence also noted the announcement today from () – in which Cadence currently owns a 16.1% shareholding – providing an update on the Sonora Lithium  Project in Mexico, including progress on the work processes for the feasibility study and debt funding discussions.


Speaking of which, Bacanora told investors that it expects the feasibility study at its Sonora lithium project in Mexico to be completed towards the end of this year.


The explorer is currently targeting first production for 2019/2020 following an 18-month build programme.


() has told investors that a working capital funding facility with Wogen Resources has been expanded to US$11mln, form US$9mln.


It comes after other changes to the Wogen funding arrangements earlier this week – which saw the retiring of a US$3mln prepayment financing and an increase in the working capital facility to US$9mln from US$6mln.


Over in Botswana, PLC () revealed today that the mineral resource estimate for its T3 exploration project in the Kalahari copper belt has been upgraded.


The revised, JORC compliant estimate comprises 36mln tonnes of ore a 1.14% copper and 12.8 grams per tonne of silver, with T3 containing approximately 409,000 tonnes of copper and 14.8mln ounces of silver.


() (CVE:GAL) said underground development of its gold mine in Omagh, Northern Ireland, continued as it posted its quarterly results.


As you’d expect for a company investing in growth, Galantas was lossmaking – the net loss was C$511,876 for the three months ended June 30. More importantly, the company had C$1.68mln in the bank, which will help fund development.


“I am very pleased with the progress made this quarter on developing the underground mine and I congratulate the Galantas team in Omagh on their excellent achievements,” said chief executive Roland Phelps.


() announced that Jason Baker and Miles Needham of FRP Advisory LLP, joint administrators of the company and its subsidiary, Redx Oncology Limited, have been granted permission by the High Court to make a distribution to the groups’ unsecured creditors.


The drug discovery firm said the joint administrators will shortly be sending unsecured creditors notices of intended dividend, following which claims will be adjudicated and distributions made, with all unsecured creditors to be paid in full.


Redx added that this is a significant step towards the anticipated rescue of the companies as a going concerns and the termination of the administrations.


() said today it has entered into an agreement with VinaCapital Fund Management JSC (VCFM) – like VOF, an affiliate of Cayman Islands-based VinaCapital Investment Management Limited (VCIM) to delegate certain investment management and advisory activities.


VCFM – a fully licensed fund management company domiciled in Vietnam – is regulated by the State Securities Commission of Vietnam which belongs to the International Organization of Securities Commissions of which the UK and US security commissions are also participating members.


And finally, (LON: FFX) said that, further to its announcement on 8 August regarding its conditional acquisition of CardOne, the Financial Conduct Authority has now consented to the acquisition.


The group said the acquisition remains conditional on approval at the General Meeting to be held today, after which it will provide a further update on the deal and fundraising.

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