Touchstone Exploration Inc (LON:TXP, CVE:TXP) has completed the final phase of testing on the Cascadura well in Trinidad, with two intervals both flowing above 5,000 barrels oil equivalent per day (boepd). A 24-hour test, limited by the capacity of surface test equipment, saw the upper section flow at an average of 5,472 boepd while the lower flowed at 5,157 boepd. Findings of flow and build-up testing suggested that the upper would have absolute open flow (AOF) of 390mln cubic feet per day, while the same test suggested an AOF of 92mln cubic feet per day from the lower.
Open Orphan PLC (LON:ORPH) said that a company in which it has a significant stake has been given a platform in a world-leading medical journal for its early-stage vaccine results. Imutex Limited is developing AGS-v, a mosquito saliva treatment for diseases such as zika, malaria, dengue fever and West Nile virus. Results of a phase I trial, carried in the prestigious Lancet publication, showed it to be safe while inducing a strong immune response in the healthy volunteers that took part in the assessment.
Bango PLC (LON:BGO) said it has launched a carrier billing option for mobile operator SoftBank Corp than can be used to make purchases from Amazon Incs (NASDAQ:AMZN) Japanese website. The mobile commerce firm said Amazon customers with a SoftBank mobile phone account will now be able to pay for goods, membership fees and subscription services and charge the cost to their mobile phone bill. The deal means Bango now powers carrier billing for Amazons Japanese website across the countrys three largest mobile operators, SoftBank, NTT Docomo and KDDI.
Canadian Overseas Petroleum Limited (LON:COPL) has entered into a loan agreement with YA II PN, and Riverfort Global Opportunities for an unsecured facility of £600,000. Pursuant to the terms of the loan agreement the company can draw down £100,000 per month for a period of six months following the date of the loan.
Integumen PLC (LON:SKIN) said it has seen “significant growth of new business opportunities” and a lack of difficulties arising from the coronavirus (COVID-19) pandemic as the biotech firm reported a revenue surge in its final results. For the year ended December 31, 2020, the company reported revenues of £1.02mln, up 342% on the prior year, while the companys underlying (EBITDA) losses narrowed by 7% to £1.06mln. In a separate announcement, Integumen said that, to give itself “additional flexibility” to manage its growth, it has entered a £400,000 loan facility with bioplastic specialist Cellulac Limited. The unsecured loan is for a term of 24 months, with Integumen having the ability to draw down the loan in four equal amounts of £100,000 per month from June 30, 2020, until September 30, 2020.
Inspiration Healthcare Group PLC (LON:IHC) said it has now delivered two NHS ventilator consignments against orders it received in March. The med-tech specialist added that it has been working hard with its suppliers and expects to ship further equipment over the “forthcoming weeks”. On March 16 and 20, the company revealed it had received significant orders from the NHS for medical equipment and ventilators as the coronavirus (COVID-19) pandemic ratcheted up demand.
Incanthera PLC (AQSE:INC) has reflected on a pivotal year as it released its first financial results following the group's stock market float. The junior oncology firms shares joined the Aquis Stock Exchange Growth Market in February, raising £1.2mln from institutional investors, existing shareholders, and management via a placing and share subscription. "We are delighted to present Incanthera's first set of results,” said Simon Ward, Incanthera chief executive in the results statement. “This has been a pivotal year for our company, following our successful flotation in February, and we are now fortunate to be in a strong position operationally and with added financial security, as we commence our first full year as a PLC."
EQTEC PLC (LON:EQT) has reported sharply reduced full-year 2019 losses while the waste-to-energy specialist also noted increasing demand for its services into 2020. For the year ended December 31, 2019, the AIM-listed group reported a loss of €3.6mln, a narrowing from an €8.2mln loss in the prior year, while revenues were €1.6mln compared to €2.2mln in 2018. Post-period, EQTEC said contracted revenues in the first quarter of 2020 were at €2.35mln, already ahead of the total for the entire previous year.
Collagen Solutions PLC (LON:COS) said its order book “continues to be strong” across the year and that it has been granted an extension for the filing of its accounts for the year ended March 31, 2020. In a trading update, the biomaterials and regenerative medicine developer said it was performing in line with expectations and that it is “encouraged about the year ahead” despite operational challenges caused by the coronavirus pandemic. The firm said it has not seen a decrease in demand for its products and services, saying that as of June 8 it had orders or contracted development milestones for the 2021 financial year as well as revenue already recognised for the first two months of the current year of around £3.3mln, around 82% of revenues reported in its 2020 financial year.
ADM Energy PLC (LON:ADME) had told investors that operations at the OML 113 licence in Nigeria have remained uninterrupted by the coronavirus (COVID-19) pandemic and that it has been able to cut production costs significantly. The company noted that the Aje field, part of OML 113, continues to produce from the Aje-4 and Aje-5 wells on the Turonian reservoir. It noted that talks are continuing between the field's partners over the next phase of activity, based around further development of the Turonian gas and liquid reserves.
Arecor Limited has presented positive results for the Phase I clinical trial of its ultra-rapid acting insulin product candidate, AT247, to the American Diabetes Association 80th Scientific Sessions (ADA) virtual meeting. “AT247 has clearly demonstrated faster insulin absorption with an accelerated Pharmacokinetic (PK) and Pharmacodynamic (PD) profile compared to NovoRapid and Fiasp,” Professor Thomas Pieber, the principal investigator for the study said, Arecor noted in a statement. Arecor pointed out that AT247 has been formulated to accelerate insulin absorption, post-injection, to enable more effective management of blood glucose levels.
Ariana Resources PLC (LON:AAU) has renewed its operating licence on the Ivrindi gold project, which is 100% held by the company and based outside of the Red Rabbit joint venture in Western Turkey. The operational licence has been extended for 10 years, expiring on June 3, 2030, with the possibility for an extension. In addition, a 45 hectare mining permit for gold has been secured on the same terms.
Faron Pharmaceuticals Oy (LON:FARN) NASDAQFIRSTNORTH:FARON), the clinical-stage biopharmaceutical company, has announced plans to initiate a new state of the art process for the manufacturing of interferon (IFN) beta-1a. To support this, Faron said, it has received a €2,100,000 low-interest rate loan from Business Finland, the governmental innovation financing agency of Finland. The loan is for a period of 7 years with repayment only commencing after 3 year and the interest is three percentage points below the Finish base rate of interest, subject to a minimum rate of 1 percent.
Emmerson PLC said it is shifting its focus to moving the Khemisset potash project towards what the company calls "shovel ready" status, following completion of the recent feasibility study. This new stage of work will include building operational capability, undertaking front end engineering and design, detailed design and sourcing financing. The group said the permitting process is well underway and includes stakeholder engagement, socio-economic impact assessments and the environmental and social Impact assessment.
Bezant Resources PLC (LON: BZT) has received an update from Mining and Minerals Industries Holding (MMIH) regarding its preparations in respect of the proposed listing of MMJV, the subsidiary that holds its 80% of the Mankayan copper-gold project in the Philippines, of which Bezant owns the other 20%. MMIH is planning to list MMJV on the Singapore Stock Exchange via a reverse takeover but has asked the Singapore Exchange for an extension to the process to allow for the negative effects of coronavirus. The application was initially refused, but an appeal has subsequently been lodged. MMIH is simultaneously pursuing alternative opportunities.
Salt Lake Potash Ltd (ASX:SO4) has awarded EPC and EPCM contracts to GR Engineering Services Ltd (GRES) (ASX:GNG) for construction of the process plant and non-process infrastructure (NPI) at its Lake Way Project in the Goldfields region of Western Australia. These contracts, combined, represent more than 40% of the total project capital requirement.
G3 Exploration Limited (LON:G3E) has noted that on June 12, 2020, the Grand Court of the Cayman Islands granted a four-month adjournment of the winding-up hearing and extended the provisional liquidation for the purposes of further advancing the company's restructuring options within this period. Upon the Court issuing its written Order expected before month-end, the company and joint provisional liquidators will provide a more detailed update.
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