ECR Minerals (ECR), the exploration and development company focused on gold in Australia, is pleased to announce the final rock chip results and latest exploration developments at the Hurricane Project. The project area is located approximately 200km west of Cairns in North Queensland, Australia. ECR said the Hurricane Project has been a key part of ECR’s strategic planning over the past year. The overall results package is extremely encouraging. It is clear that some of the grades and ‘drill ready’ zones indicate that ECR now has a potentially commercial proposition at Hurricane.
Comment: The newly revitalized ECR, with its beefed up management, is certainly on the front foot as far as stock market communications are concerned. Being drill ready is apparently the new being in production.
Marula Mining (AQSE: MARU) an African focused mining and development company, announced that assay results on the samples taken from the Kinusi Copper Mine, as part of the Phase 1 Program of exploration activities have now been received. The average grade of the samples was 2.68% copper, with the highest reported grade being 15.48% and the lowest being 0.1% copper of a sample taken outside of mineralised zones. The company said the next phase of exploration work at Kinusi can now proceed and will look at an initial resource drilling program primarily aimed at taking the Geofields estimates of an initial exploration target of 10-15 million tonnes, all the way through to a formal JORC compliant ore resource.
Comment: Another day, another RNS from Marula. This time we have a very respective average copper grade, with the market being able to look forward to
hVIVO (HVO), the world leader in testing infectious and respiratory disease products using human challenge clinical trials, noted the announcement by Pneumagen, a clinical-stage biotech company, reporting successful clinical proof of concept for its broad-spectrum antiviral candidate Neumifil, demonstrated from a Phase 2a influenza human challenge study conducted by hVIVO. HVO said it was delighted to see Pneumagen obtain these results clearly achieving clinical proof of concept for Neumifil, which has supported Pneumogen’s decision to progress the candidate into further clinical studies, including in patients with COPD. This is another example of the value of human challenge trials in delivering clinical efficacy data and de-risking later clinical development.
Comment: Once again HVO proves itself to be at the forefront of human challenges clinical trials, and as the company says, de-risking later clinical development for biotechs.
Tekcapital (TEK), the UK intellectual property investment group, provided a comprehensive overview of Belluscura (BELL) recent significant developments. Belluscura has reached agreement which could potentially secure circa £8m growth capital to meet the demands of recent orders and licensing royalty agreements totalling up to potentially $85m. Interest in DISCOV-R™ portable oxygen concentrator now exceeds 10,000 units with a potential sales value guidance of over $30m. TEK said it was very pleased to see the significant progress of Belluscura with enhancements to their balance sheet, regulatory approvals, personnel, and sales pipeline. Together it views these recent developments as transformative for Belluscura.
Comment: BELL continues to regroup after the pandemic bubble for its space. This offers those new to the company a relatively low entry level in the one year trading range off the back of healthy sales guidance.
EDX Medical Group (AQSE:EDX), a developer of innovative digital diagnostic products and services for personalised treatment of cancer, heart disease and infectious diseases, announced that it has entered into a strategic agreement with Guardant Health Inc. (NASDAQ: GH), a leading precision oncology company, to distribute Guardant Health’s blood-based liquid biopsy tests in certain market sectors in the U.K. and several Nordic countries. EDX said it was delighted to be working with the scientific leaders at Guardant Health. This agreement provides its clients with access to world-class genomic testing products and the opportunity to join a group of thought leaders in personalised medicine.
Comment: EDX is brushing with the blue chips from the vantage point of its Aquis listing, which is quite an achievement. It will be interesting to see whether the shares can get some traction off the back of the strategic agreement.
Cyanconnode (CYAN) today’s Interims trading update follows some months of price weakness. Revenue is reported at £5.8m which is 4.3x greater than last year, 1.6x more cash at £7.4m has flowed-in and with 503k units shipped to clients which is 5.8x more than last year. CYAN is a leader in Narrowband Radio Frequency (RF) Smart Mesh Networks and is the primary vendor of smart meter connectivity technologies(Omnimesh) in several states across India while also targeting other countries. The 2023 finals reported increased operating losses to £3.3m and full year Revenue is expected to be in line with market expectations. This may, however, still leave them just short of break-even for the year-end March 2024. The Indian roll-out is gaining momentum where there is a backlog of 2.9m Omnimesh modules and substantial number of tenders waiting approvals. The last funding was in January when £5.5m was raised at 17p.
Comment: Current trading is clearly not the cause of the shares falling to a 52-week low of 10.375p where the mkt cap is just £28.2m. Curiouser and curiouser.
Tertiary Minerals (TYM) announced positive follow-up results from portable XRF analysis of soil samples at the C1 target area at its Mushima North Copper Project in Zambia, one of a number of targets covered in a recent soil sampling campaign. TYM said Target C1 contains intriguing gravity and magnetic anomalies, key geophysical targets for buried IOCG mineralisation, as well as known mineralisation of traditional Copperbelt style in hole RKN800. It’s encouraging to see the geochemical signature of the mineralisation in RKN800 replicated in the soil pXRF results, further enhancing the possibility that mineralisation of this style is present over a wider area These new soil results confirm and highlight the prospectivity of target C1 and drill optimisation planning will now take place.
Comment: This summer has seen a turnaround in sentiment and share price for TYM. It would appear that the company is determined that this process should continue.
Cirata plc, formerly WANdisco plc (LSE: WAND) confirms that, further to its announcement of 4 October 2023, the Company’s shares will now trade under the ticker CRTA, effective immediately.
Comment: Who remembers when Windscale had its name changed to Sellafield?