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Proactive news headlines: Directa Plus, ImmuPharma, Galileo Resources, IQ-AI, EQTEC, Ariana Resource


Directa Plus PLC (LON:DCTA) has welcomed news from its partner, NexTech, concerning a prototype battery that uses Directa’s G+ pristine graphene nanoplatelets. Full-scale pouch format cell prototypes produced by lithium-sulphur battery developer and producer, NexTech Batteries, have achieved more than 400 Wh/kg (watt-hours per kilogram, the usual measure of energy density) in a practical system. NexTech produced several prototypes using its proprietary cathode and electrolyte materials producing 410Wh/kg of specific energy at a weight only slightly below 30 grams. For comparison, standard lithium-ion batteries have an energy density of 100-265 Wh/kg.

ImmuPharma PLC (LON:IMM) (Euronext Growth Brussels:ALIMM), the specialist drug discovery and development company, announced that L1 Capital Global Opportunities Master Fund has converted $200,000 (plus accrued but unpaid interest) of the convertible security issued pursuant to the convertible security deed dated June 10, 2020. The conversion price is 11p per share resulting in the issue by the company to L1 Capital of 1,430,510 new ordinary shares of 10p each.

Galileo Resources PLC (LON:GLR) saw its shares rise on Monday as the firm issued a “very promising” exploration update on its’ 100% held property in the emerging Kalahari Copper Belt in western Botswana. The company said a preliminary overview of the results from a Heliborne-EM geophysical surveying over several licences in its highly prospective Kalahari Copper Belt Project look very promising with the EM data interpreted to show several highly prospective geological settings for copper-silver mineralisation.

IQ-AI Limited (LON:IQAI) shares shot higher after it revealed that its LSN (Liver Surface Nodularity) software application has been approved for its CE Mark. The CE marking confirms that LSN, which is made by IQ-AI subsidiary Imaging Biometrics, meets the essential requirements of the European Medical Devices Directive. This follows 510(k) market clearance from the US Food and Drug Administration (FDA) earlier in the month.

EQTEC PLC (LON:EQT), the gasification technology company, has said the exclusivity period of the Billingham memorandum of understanding (MoU) has been extended until December 18, 2020. The MoU was announced in May and committed EQTEC and Scott Bros Enterprises to jointly develop the Billingham Energy waste gasification and power plant in Haverton Hill, Billingham, in the UK. The Billingham MOU has been the subject of previous extensions on three previous occasions.

Ariana Resources PLC (LON:AAU) generated revenues of US$11.4mln from the Kiziltepe gold mine in Turkey during the third quarter of 2020. The average realised gold price was US$1,915 per ounce, up significantly on the quarter, as well as on the corresponding period a year ago.

Faron Pharmaceuticals Oy (LON:FARN) said it was seeing “exciting clinical activity across multiple cancer types” from its phase I/II treatment bexmarilimab, formerly Clevegen. It also said plans were underway for three new trials using the Faron discovery. In the first instance, it will be used in patients with colorectal cancer and clear cell renal cell carcinoma as what’s called a neoadjuvant, which is used to shrink tumours before mainline treatment. Researchers are also assessing bexmarilimab’s use alongside a checkpoint inhibitor drug in lung cancer and they are looking at its potential use in the blood-borne forms of the disease such as acute myeloid leukaemia and myelodysplastic syndrome.

Thor Mining PLC (LON:THR)(ASX:THR) has signed a non-binding term sheet for the acquisition of two additional licence areas adjacent to Ragged Range in the Pilbara region of Western Australia. The licences include areas over and surrounding historical small scale gold and copper mines. Thor now has a total of 213 square kilometres of ground either under licence or under application.

Next Solar Energy Fund Limited (LON:NESF) said an exceptional period of sunshine boosted generation from its portfolio of solar assets and lifted its earnings in the half-year to end-September. The renewable power generator’s electricity production was 11.1% above budget helped by above-average irradiation and by having most of its received power prices fixed. Spot electricity prices were volatile over the period due to oil prices and the coronavirus (COVID-19) pandemic, but rallied at the end of the period and NextSolar said it has left a significant amount of capacity unhedged for the winter in expectation of a further improvement.

Scirocco Energy PLC (LON:SCIR) has said it is now better able to advance a sales process for its 25% stake in the Ruvuma project in Tanzania. It comes after partner Aminex PLC (LON:AEX) has completed its farm-out transaction which has brought in APT into the project. APT is running and funding a programme of work to take Ruvuma’s Ntorya gas field into production whilst potentially expanding the asset through exploration.

AFC Energy PLC (LON:AFC) has secured a long term lease over new premises at its Surrey headquarters at Dunsfold Park. The 30,000 square feet facility will serve as the hydrogen power generation technology company’s first large scale H-Power assembly and commissioning facility. An initial investment of GBP300,000 will be made into the facility with the aim of accommodating the eventual dispatch of up to 100 hydrogen generator systems per annum with capacity for further growth.

4D pharma PLC (LON:DDDD) said the deadline for its merger with special purpose acquisition company Longevity Acquisition Corporation (NASDAQ:LOAC) has been extended to May 29 next year. This will allow the companies adequate time to lodge all the paperwork required with NASDAQ. This includes the filing of a registration statement on Form F-4 in order to allow 4D to apply to admit its American Depositary Shares for trading on NASDAQ and the convening of a meeting of both Longevity and 4D shareholders.

Greencoat UK Wind PLC (LON:UKW) has agreed to acquire a 49% stake in the Humber Gateway offshore wind farm as part of a consortium with several pension funds The specialist wind power specialist will be the largest part of the consortium and acquire a net 38% stake for GBP500mln while the pension funds will acquire a net 11% for GBP148m. The total cash consideration payable to vendor RWE will be GBP648mln. The German utility will continue to hold the remaining 51%.

Diversified Gas & Oil PLC (LON:DGOC) has announced that the company’s bank lending group, led by KeyBank National Association has completed the semi-annual redetermination of its senior secured credit facility and reaffirmed the existing $425mln borrowing base with no changes to pricing, covenants or other material terms. The FTSE 250-listed US-based owner and operator of natural gas, natural gas liquids, oil wells and midstream assets noted that following the redetermination, its liquidity exceeds $220mln, comprised of cash on hand and availability under the credit facility.

Vast Resources PLC (LON:VAST) has said it is finalising the sale of its first commercial concentrate from the Baita Plai polymetallic mine in Romania. The sale is expected to conclude on November 25, 2020. Vast received confirmation over the weekend, from Mercuria, the company’s offtake partner, following a delay from the previously anticipated schedule.

Deltic Energy PLC (LON:DELT) has updated on its Cupertino exploration area, in the North Sea, where new analysis has identified around 904 billion cubic feet (BCF) of gas resource potential (estimated as P50 prospective resources) across three targets. The estimate range sees the potential resources from 205 BCF in the P90 estimate and 2.97 trillion cubic feet (TCF) in the ‘blue-sky’ P10 estimate. Deltic said it believes the three prospects are of suitable scale for future commercialisation.

Kodal Minerals PLC (LON:KOD) made a GBP255,000 loss in the six months to September 30, 2020, down from the GBP339,000 loss it booked for the corresponding period a year earlier. Cash as of September 30, 2020, was GBP870,000. Cash as of October 31, 2020, was GBP1,316,000, following a further fundraise. During the period Kodal continued with its licence application for the Bougouni lithium project in Mali.

San Leon Energy PLC (LON:SLE) told investors it has agreed to a further three-week extension in order to complete the deal to invest in the Oza field, in Nigeria. A new deadline of December 14 has now been agreed. As previously noted, the company pointed out, worldwide restrictions intended to slow the spread of the coronavirus (COVID-19) pandemic have presented certain logistical challenges. Nonetheless, it said that good progress has been made with the final drafts of all remaining conditions are currently being reviewed by the parties.

Aminex PLC (LON:AEX) has told investors that an exciting time finally lies ahead as its new partner, APT advances the Ruvuma asset in Tanzania. APT has now put in place a road-map for the project including a work programme of seismic and drilling, which will allow the project to move a final financing decision for the Ntorya discovery before the end of 2022. The new partner has notified the joint venture partners that it intends to immediately start contracting and procurement for a 3D seismic programme over the Ntorya gas discovery and the drilling of the Chikumbi-1 appraisal and exploration well.

Union Jack Oil PLC (LON:UJO) has updated on the ongoing drilling operation at the West Newton B-1 appraisal well project in East Yorkshire. The well, tagged WNB-1, has so far been drilled down to a depth of 2,295 metres and Union Jack confirmed it has encountered both the primary (Kirkham Abbey) and secondary (Cadeby) objectives. The Kirkham Abbey formation indicated a hydrocarbon charge based on wireline logs, cuttings and mud gas readings, the company said, while for Cadeby there was insufficient reservoir development.

Alien Metals Ltd (LON:UFO) has raised GBP2.5mln via an oversubscribed placing of shares at 1.1p per share. The group said the money raised will be used to extend and accelerate a range of exploration activities across the company’s portfolio, with immediate programs to be expanded in both Mexico and Western Australia. Based on current budgets and in the absence of exceptional circumstances the company’s existing work programs are now fully funded through to end-2021.

Anglesey Mining PLC (LON:AYM) announced that it has issued 4,625,000 new ordinary shares, representing approximately 2.2% of the company’s current issued share capital, at 1.8p per share following the exercise of warrants. These warrants were granted as part of the placing of 12.5 million shares which took place on August 24, 2020.

Afarak Group PPLC (LON:AFRK) said that, as announced on September 10, 2020, due to the loss of control and the end of the consolidation of Afarak Mogale (Pty) Ltd, Afarak Group reclassified Afarak Mogale (Pty) Ltd’s previously reported income statement figures as discontinued operations. There is no change to the previously reported balance sheet figures.

Inspired Energy PLC (LON:INSE), the leading consultant for energy procurement, utility cost optimisation and legislative compliance in the UK and Ireland, announced that it has received London Stock Exchange’s Green Economy Mark in recognition of its environmental and strategic advice, service and support to customers. The Green Economy Mark allows greater visibility for investors interested in green economy activities and recognises those companies that are contributing to a greener and more sustainable economy. The Mark is given to London-listed companies which derive more than 50% of revenues from goods and services contributing to the green economy.

AdEPT PLC (LON:ADT), one of the UK’s leading independent providers of managed services for IT, unified communications, connectivity and voice solutions, said on Friday that it was notified that its chief executive, Phil Race has purchased of 5,600 ordinary shares of 10p each in the company at a price of 223p per ordinary share. Following the purchase, the group added, Race is interested in 16,191 AdEPT ordinary shares, representing approximately 0.06% of the current issued share capital of the company.

Ncondezi Energy Limited (LON:NCCL) has said its annual general meeting (AGM) is scheduled to be held at 12.00pm SAST on December 16, 2020, at Club Room 1, Main Club House Inanda Club, Forrest Rd & 6th Avenue, Inanda, Sandton, Johannesburg, 2196, South Africa. In view of the current South African Government’s guidance the group’s board recommends that shareholders should not attend the meeting in person and urges shareholders wishing to vote on any of the resolutions to do so by appointing the chairman of the meeting as a proxy to vote on their behalf. Voting on all resolutions at the Meeting will be by way of poll. Given that there will not be any formal Q&A session at the meeting, the company will host an online investor meeting, open to all existing and potential shareholders following the AGM on Wednesday, December 16, 2020, at 2.00pm SAST (12.00pm GMT). On the call, Ncondezi Energy CEO Hanno Pengilly will provide an update on the business followed by a question and answer session. Participants are requested to register their interest in attending and submit questions in advance via email to [email protected] by no later than 6.00pm SAST (4.00pm GMT) on December 11, 2020.

BATM Advanced Communications Limited (LON:BVC) (TASE:BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, said its annual general meeting (AGM) is to be held at 10.00am GMT on Thursday December 17, 2020, at the group’s registered office at 4 Ha’harash Street, Nave Ne’eman Industrial Area, P.O.B. 7318, 4524075 Hod Hasharon, Israel. In light of the evolving coronavirus (COVID-19) situation and related public health guidance and legislation, shareholders will not be able to attend the meeting in person. Shareholders are therefore strongly encouraged to submit their vote in advance of the AGM, in accordance with the procedures set out in the Notice of AGM. Given the restrictions on attendance at the AGM, shareholders should appoint the chairman of the meeting as their proxy, and holders of depositary interests should instruct Link Market Services Trustees to vote on their behalf, rather than a named person who will not be permitted to attend the AGM or cast their vote. To enable shareholder engagement and participation, shareholders can register to listen to the meeting via a teleconference and are invited to submit questions in writing in advance of the AGM that will be answered orally during the meeting. The teleconference will allow shareholders to listen to the business of the AGM only – it will not be possible to use this facility to vote or ask questions. Further information on the resolutions and details on how to register to listen to the AGM or submit a question can be found in the Notice of AGM that, along with forms of proxy and direction, is http://www.batm.comavailable on BATM’s website at:

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