Pharma & Biotech
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Pharma & Biotech
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15:22 Thu 25 Aug 2022
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A snapshot of the stories on the Proactive website today
Cornish Metals Inc (AIM:CUSN, TSX-V:CUSN, OTC:SBWFF)’s assay results from the remaining four drill holes of its Phase 1 programme at United Downs project in Cornwall confirm the potential to develop a mineral resource, says Hannam & Partners.
All holes intersected multiple mineralised zones, with the United Mines target continuing to demonstrate a transition from copper-rich to tin rich at depth, as seen at South Crofty, said the broker.
Amaroq Minerals Ltd (TSX-V:AMRQ, AIM:AMRQ), formerly AEX Gold Inc, told investors that drilling was ahead of schedule at its Nalunaq gold project in Greenland as the explorer posted its results for the second quarter to end-June this year.
The company, which now holds mineral assets of over 7,866.85 square kilometres (sq km) having increased its land package and exposure to base and strategic metals, said it had improved efficiency across all aspects of its portfolio.
Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, NASDAQ:ARBK, ETR:0XP) is “excellently positioned to capitalise when conditions change,” said analysts at FinnCap following the release of its first half results.
FinnCap, reporting on one of its clients, believes its ability to scale Helios, its crypto mining facility in Texas, during tough market conditions and its experience in navigating previous tough winters means its well positioned to capitalise when conditions turn favourable.
A proliferation of customer redress claims for unaffordable lending has rocked doorstep lender Morses Club’s 2022 financial year results.
A total of £42.6mln in statutory losses was recognised mainly due to the claims, though uncertainty remains around the total liability given the company’s pursuit of a scheme of arrangement.
Faron Pharmaceuticals Oy (AIM:FARN, OTC:FPHAF) highlighted the progress made in the first half in developing its cancer immunotherapy candidate Bexmarilimab.
The clinical stage biopharmaceutical company peviously revealed that a phase I/II MATINS study showed 100% of checkpoint refractory skin cancer and bile duct cancer patients treated with Bexmarilimab survived for a year.
Canadian Overseas Petroleum Limited (LSE:COPL, CSE:XOP) said its president and chief executive Arthur Millholland bought 1mln shares in the company this week on the Canadian Stock Exchange.
Millholland bought 100,000 shares for $0.19 each on August 23 and 900,000 shares yesterday at $0.185 per share.
Benchmark Holdings PLC (AIM:BMK) reported more than 25% jumps in third-quarter sales and earnings and said the outlook for the remainder of the year was strong.
The aquaculture biotechnology group also revealed it made progress toward its planned listing on Euronext Growth Oslo that is expected by the end of the calendar year.
Anglo Pacific Group PLC (LSE:APF, TSX:APY, OTC:AGPIF) reported a record portfolio contribution in the first half, boosted by a surge in coking coal and cobalt prices.
The natural resources royalty and streaming company said its portfolio contribution jumped 303% from the year-earlier period to US$92.8mln, exceeding the US$85.6mln contribution generated for the whole of 2021.
NetScientific, an international life sciences and sustainability technology investment group, has completed a US$35mln debt financing agreement for its portfolio company PDS Biotechnology Corporation (NASDAQ:PDSB).
Led by the Horizon Technology Finance Corporation, the term loan will be used to support the ongoing clinical development of PDS0101 and other product candidates within the company’s pipeline and for general working capital purposes.
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) said it raised about £30mln (US$35mln) via an oversubscribed placing to fund the development of ongoing licenses.
The placing, at a price of 8.2p per ordinary share, will accelerate drilling at the Havieron deposit and grow the wider resource alongside joint venture partner Newcrest Mining Ltd.
Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, NASDAQ:ARBK, ETR:0XP) said it made “significant” progress towards completing the first phase at its new Helios facility in Texas.
The comments came as the cryptocurrency miner revealed its performance in the first half of the year was impacted by the fall in the price of Bitcoin.
Guild Esports PLC (LSE:GILD, OTC:GULDF) said it signed a “significant expansion” to its partnership with Samsung with a new sponsorship agreement and the renewal of an existing deal.
The new deal concerns Samsung’s TV/AV division and appoints Guild Esports as the esports company’s official TV partner in the UK and Ireland for the next year.
Eco (Atlantic) O&G PLC said the drill rig for its new exploration well offshore South Africa is expected to arrive at location at the end of September, subject to the weather
The Gazania-1 well is targeting a 300mln barrels light crude resource in the Orange Basin, currently one of the hottest areas for exploration drilling for oil and gas.
Zephyr Energy PLC said it acquired an additional 1,920 acres in the Paradox Basin, Utah, that it expects has immediate development potential.
Zephyr’s technical team estimates the acquisition will add more than 4 million barrels of oil equivalent of additional 2C net resources to its flagship asset.
Powerhouse Energy PLC interim chairman Keith Riley said he is encouraged by the growing interest outside of the UK for its waste-to-energy projects.
Since its half-year end in June, Powerhouse has signed projects in Ireland and Poland with its development partner Hydrogen Utopia.
Great Western Mining Corporation PLC (AIM:GWMO) said it expects to start receiving assay results in September from a summer drilling programme at Mineral County, Nevada.
It drilled 24 holes, totalling 2,798 metres, over four separate prospects and has lodged cuttings at two separate laboratories for assay and certification.
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