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Powerhouse Energy Group PLC (LON:PHE) has inked a non-binding heads of terms agreement with Hydrogen Utopia International (HUI) for a potential licensing deal in Poland. The preliminary agreement envisages Powerhouse granting HUI an exclusive non-transferable licence for the application of its DMG technology, which produces hydrogen from the processing of waste plastics. HUI has paid a €100,000 deposit in connection with the agreement
AfriTin Mining Limited (LON:ATM) has reported higher production of tin concentrate from its Uis mine in Namibia as a phase one, stage one ramp-up continues at the project. In an operational update for October, the AIM-listed firm reported that production of tin concentrate had increased to 48.2 tonnes containing around 32.2 tonnes on tin metal, a 24% month-on-month increase. The company said the production level achieved in October represented around 90% of the stage one target in terms of tin contained in concentrate.
Bango PLC (LON:BGO) revealed it has expanded its partnership with Microsoft to open-up access to Xbox subscriptions and consoles sales. The global platform for data-driven commerce noted that with new Xbox Series X and Xbox Series S now available in time for the year-end buying season, the Xbox Game Pass Ultimate subscription service and Xbox All Access program are expected to be in high demand. Microsoft will leverage the Bango Platform to enable telco partners to bundle Xbox Game Pass Ultimate and Xbox All Access in their subscription packages.
Brickability Group Plc (LON:BRCK) delivered a solid first half financial performance as the construction materials distributor bounced back strongly from the coronavirus (COVID-19) lockdown along with the rest of housebuilding the sector. Chairman John Richards told investors in the interim results statement: “The recovery that we have seen is V-shaped and continues to improve.” While first-half revenues slid to £75.3mln from £97.9mln, the group’s gross margin increased by 1.5 percentage points giving underlying earnings (EBITDA) of £8mln and profit before tax of £5.4mln, down just £1.1mln on the year earlier.
Clipper Logistics PLC (LON:CLG) said it has continued to see strong trading across its business in the year to date as the coronavirus pandemic accelerated a structural shift towards e-commerce. In a trading update for the six months to October 31, 2020, the logistics, e-fulfilment and returns management specialist said it now expects to report revenue for the period of at least £300mln, a near 20% increase over the prior year, including e-fulfilment growth of over 30% and non-e-fulfilment logistics growth of around 10%.
Sareum Holdings PLC (LON:SAR) has announced amended terms of a 2016 licensing agreement between Sierra Oncology Inc and CRT Pioneer Fund LP (CPF) for SRA737, a Checkpoint kinase 1 (Chk1) inhibitor in clinical development targeting solid cancers. The AIM-listed drug development firm said under the 2016 agreement SRA737 was licensed to Sierra by CPF for up to US$328.5mln in developmental, regulatory and commercial milestones, plus royalties on the net sales of any product successfully developed. Sareum was eligible to receive 27.5% of the economics equating to up to US$88mln in milestone payments, plus sales royalties, as SRA737 advanced.
Guild Esports PLC (LON:GILD), a UK-based owner and developer of esports teams announced the world launch of its first major range of merchandising for esports and streetwear fans alike. The exclusive limited-edition collection features graphics by the acclaimed London streetwear designer Fergus Purcell who built his reputation designing the graphics for skatewear label, Palace. The collection goes on sale online from today, exclusively on the Guild website at: https://guildesports.com/
FastForward Innovations Limited (LON:FFWD) said its investee company SatoshiPay has achieved two significant landmarks – it has reached 10,000 wallets, and has created an application programming interface (API) that should significantly increase its reach. The blockchain-based nano-payments company said the API means its technology can be used on all websites, mobile apps and internet-connected software. Previously, it could only be used by websites running WordPress, which accounted for 26% of the total number of sites.
KR1 PLC (LON:KR1) said it has started generating revenue from staking activities on the Kusama network, a portfolio holding it received at zero cost in line with the Polkadot position. Staking involves holding funds in a cryptocurrency wallet to support the security and operations of a blockchain network, effectively locking cryptocurrency to receive rewards. Kusama, which launched in early 2019, is an incentivised ‘canary’ network for the Polkadot blockchain project and is designed to battle-test technical upgrades for Polkadot as well as allow aspiring Polkadot parachain projects to test their systems before deployment on Polkadot.
Ncondezi Energy Ltd (LON:NCCL) said contractors have been instructed to get ready to start accelerated development works at its 300 megawatt (MW) coal-fired power project and coal mine and that a third-party study on the Mozambique power market will be submitted in coming weeks. In order to proceed, an early development works budget has been agreed with lead strategic partner China Machinery Engineering Corporation (CMEC).
Horizonte Minerals PLC (LON:HZM) (TSE:HZM) said it remains well-funded to advance its Araguaia ferronickel mine in Brazil towards being construction-ready and highlighted a strong cash position of £13.6mln. In its results for the three months to September 30, 2020, the nickel developer also said that the project financing process is continuing to progress with a number of key milestones delivered. These included a syndicate of five international financial institutions being mandated for a US$325mln senior debt facility to part-fund the development of Araguaia.
Capital Limited (LON:CAPD) has announced the award of a new contract and subsequent mobilisation of an initial four drill rigs to Firefinch Limited’s in Mali. The leading mining services company, which is focused on the African markets, said the rigs are part of Capital’s existing West African fleet and will undertake an extensive delineation program under a two-year preferred contractor agreement between Firefinch and Capital. The first rig is now on-site, with the balance scheduled to arrive during the current quarter.
Europa Metals Ltd (LON:EUZ) shares rose on Thursday as the lead-zinc and silver developer said it has successfully renewed the investigation permit for its Toral project in Spain. The AIM-listed firm said the permit has been renewed following a consultation process by regional authorities for a further three years until November 15, 2023, and that over the period it will prioritise the completion of all necessary tasks to enable an application to be made for a mining licence for Toral.
Condor Gold PLC (LON:CNR) third-quarter results highlighted a strong cash position as the company continues to advance the La India project, in Nicaragua. The company told investors it had £5.5mln at the end of September. Operationally, the company said it has seen significant progress de-risking La India and has secured important land acquisition in the vicinity of the project.
VietNam Holding Limited (LON:VNH) said that a Monthly Investor Report detailing the activities of the company for October 2020 has been issued by Dynam Capital Limited, its investment manager. The report notes that Vietnam is poised to become the biggest constituent in the MSCI Frontier Markets 100 Index following Kuwait’s recent reclassification as an Emerging Market. This means that Vietnam could make up as much as 30% of this benchmark index by the end of 2021 and potentially attract several hundred million dollars more from foreign equity investors.
Caledonia Mining Corporation PLC (LON:CMCL) saw its quarterly results confirm a continuing strong performance for the Blanket gold mine in South Africa. Some 15,155 ounces of gold were produced in the quarter, taking the nine-month tally to 42,887 ounces – which compares to 13,646 and 38,306 ounces in the corresponding periods in 2019. The company noted that the coronavirus (COVID-19) pandemic had no impact on production during the quarter.
Alien Metals Ltd (LON:UFO) has received the results of the laboratory analysis for approximately 370 soil samples covering the eastern portion of the new licence which surrounds the company’s Elizabeth Hill silver project. The soil samples were processed by ALS Global in Perth. Alien agreed to acquire the tenement at the beginning of October. Approximately 600 soil samples were included in the deal, 370 of which have been found to be within the new licence.
Enteq Upstream PLC (LON:NTQ) has highlighted its stability with its interim results, thanks to its rapid response to the challenges in its markets amidst the pandemic and lower crude oil pricing. The specialist oil and gas services firm noted that international diversity has increased, with non-US sources now accounting for some 74% of revenue versus 42% in the same period a year ago. Specifically, it has seen growth in China and the Middle East. Separately, Enteq announced upcoming board changes via its successions plan with founder and chief executive Martin Perry moving to the non-executive chairman role from April 2021. Andrew Law, currently commercial director, will become the company’s chief executive. In a separate statement later, Enteq Upstream said it had received notification that David Steel, its finance director, acquired 93,854 ordinary shares of 1p each in the company at a price of 12.3p each on November 12, 2020. Following this acquisition, the group noted, Steel has an interest in 1,620,595 ordinary shares, representing approximately 2.4% of the company’s issued ordinary share capital.
Proactive Research released a report on Enteq Upstream in the wake of Thursdy’s interim results. In it, analysts Ed Stacey concluded: “We believe that this cash position is sufficient for the company to trade through the current oil and gas industry slowdown and to continue financing new product developments.”
Thor Mining PLC (LON:THR) (ASX:THR) said that, further to its announcement of July 14, 2020, regarding the sale of the Spring Hill royalty entitlement to Trident Royalties PLC (LON:TRR), while approval of the acquisition by Australia’s Foreign Investment Review Board has not yet been received, it is expected shortly and the parties have agreed to extend the period during which completion can take place to November 30, 2020. A further announcement will be made as appropriate, the companies added.
Broker VSA Capital has initiated coverage on Frontier IP Group PLC (LON:FIP) with a ‘buy’ rating. It’s analysts concluded: “Of the 19 portfolio companies, a number are at a point of acceleration in commercial development, paving the way for a step up in valuation or a potential exit. Frontier IP has a proven record in commercialising University IP and increasing its EPS and NAV as portfolio company valuations rise. That success is seeing the Group invest in its own expansion for growth. We believe that Frontier IP represents an excellent opportunity for investors to gain exposure to early-stage technology companies, based on leading-edge IP, which meets the needs and demands of international markets.”
Stockbroker Cenkos has highlighted the ‘billion-barrel potential’ available to 88 Energy Ltd (LON:88E) as it repeated a ‘buy’ recommendation that comes with a very substantial target price. Pitched at 2.8p the broker’s price target implies the Alaska explorer’s shares could rise to around 6 times the current level of 0.43p.
Empire Metals Limited (LON:EEE), the AIM-quoted resource exploration and development company, announced that the resolution approving the sale of the company’s wholly-owned subsidiary GMC Investments Limited to Candelaria Mining Corporation was duly passed at a general meeting on Wednesday. The final condition for closing of the transaction is the waiving of a right-of-first-refusal (ROFR) in favour of Empire’s Georgian partners, Caucasian Mining Group which must be exercised within 20 business days from Empire submitting an offer. The final date for this ROFR to be exercised is November 23, 2020.
Braveheart Investment Group PLC (LON:BRH) said it has received notice of exercise of warrants over 227,273 new ordinary shares of 2p each at a price of 40p per share raising a total of £90,909.20. The exercised warrants were granted in conjunction with the group’s placing announced on May 1, 2020.
Remote Monitored Systems PLC said that that on November 12, 2020, it received notification to exercise a total of 21,200,000 warrants over ordinary shares in the company at an exercise price of 0.5p per warrant. The consideration received by the company was £106,000.
AFC Energy PLC (LON:AFC), a leading provider of hydrogen power generation technologies, announced that its board of directors, having reviewed the company’s funding requirements following the £31.6mln fundraise earlier in the year, has agreed with Thalion Global Group to terminate with immediate effect the financing facility the company has in the form of the £4mln convertible loan note facility announced on April 12, 2019. No drawdowns were made on the facility. Adam Bond, AFC Energy’s chief executive officer commented: ”I wish to thank Thalion Global Group for the confidence shown in the Company’s technology and business plan last year, giving us the financial stability, in uncertain economic times, to continue delivering on our strategy and securing first commercial orders alongside a very successful fund raise earlier this year”.
NextEnergy Solar Fund Limited (LON:NESF) has announced an interim dividend of 1.7625p per ordinary share for the quarter ending September 30, 2020, which will be paid on December 31, 2020, to shareholders on the register as at the close of business on November 20, 2020. The ex-dividend date is November 19, 2020. The company will also be offering shareholders a scrip dividend alternative to this interim dividend, the reference price for which will be announced on November 26, 2020, with elections to be made by December 4, 2020.
Clear Leisure PLC (LON:CLP) announced that all the resolutions put to shareholders at its annual general meeting on Thursday were duly passed.
ADM Energy PLC (LON:ADME) (FRA:P4JC ), a natural resources investing company has announced the appointment of Arden Partners as lead broker to the company with immediate effect.
Supermarket Income REIT PLC (LON:SUPR) announced that at the company’s annual general meeting held on Wednesday, all resolutions were passed on a poll.
Zephyr Energy PLC (LON:ZPHR), the Rocky Mountain oil and gas company focused on responsible resource development, announced that a new presentation is available on its website https://www.zephyrplc.com/ via the link https://www.zephyrplc.com/presentation-nov-20. The presentation provides an overview of the history of the company’s Paradox project and its potential.
Arix Bioscience PLC (LON:ARIX), a global venture capital company focused on investing and building breakthrough biotech companies, has announced that Dr Naseem Amin, its executive chairman, is scheduled to participate in an analyst led fireside chat at the Jefferies Virtual London Healthcare Conference on Tuesday, November 17, 2020, at 10:35am GMT. A live webcast of the fireside chat will be available on the investor relations section of Arix’s website at https://arixbioscience.com/investor-relations/events-presentations. After the conference, an archived replay will be available on the company’s website at the same address.
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