RNS Hotlist: Agronomics, Arrow, Belluscura, Blencowe, Galileo, 4D, Love Hemp, Okyo, Open Orphan, Oxford, Petra, Pyx, THG, Thor, Tirupati, TM1, Versarien, Yu

Zak Mir
Traders Cafe
08:03, 22nd February 2022

The positive newsflow keeps on coming for Open Orphan (ORPH), the specialist contract research organisation, as it noted the announcement from Bavarian Nordic A/S reporting that the US Food and Drug Administration has granted Breakthrough Therapy Designation for Bavarian Nordic's respiratory syncytial virus vaccine candidate, MVA-BN® RSV. hVIVO, a subsidiary of Open Orphan, successfully conducted a Phase 2, double-blinded, placebo controlled human challenge trial to assess MVA-BN® RSV using its RSV Human Challenge Study Model.

Going debt free is always significant for a small cap company, as it the journey to a US listing. This is what we have been treated today for OKYO Pharma (OKYO), a biotechnology company focused on dry eye disease.

Hitting a solid distribution milestone, Love Hemp Group (LIFE), the brand-led consumer goods company focussed on CBD health and wellness solutions, has become the first CBD brand to have a number of its products listed on eBay UK at www.ebay.co.uk. eBay will list a range of Love Hemp's sprays, drops and edibles available within the Health and Beauty category of eBay's UK online store.

Also hitting a significant milestone in the wake of its first commercial contract, Tirupati Graphite (TGR), the specialist graphite and graphene company said that the Tirupati Graphene and Mintech Research Centre has now successfully developed a mineral processing technology solution for Optiva Resources Limited, a UK registered mining company.

There was a chunky purchase from Agronomics (ANIC),  a company focused on the field of cellular agriculture, announcing a €6.9 million investment in Onego Bio, a company developing sustainable and animal free egg protein, as part of a €10 million Seed fundraising round. Agronomics will hold an equity stake on a fully diluted basis of 19.94%, and will have the right to a board seat. The investment will be funded using cash from the company's own resources.

Petra Diamonds (PDL) announces its unaudited interim results for the six months ended 31 December 2021. The company said it has grown revenue by 49% and adjusted EBTIDA by 87%, as well as reducing net debt significantly. It has benefitted from the recovery in rough diamond prices, record proceeds from the sale of Exceptional Stones.

Galileo Resources (GLR) reported on progress in modelling of historic drill data at Luansobe and the completion of the second payment to the vendors to secure an initial 75% interest in the Luansobe Copper Project, Zambia comprising Small Scale Exploration Licence No. 28340-HQ-SEL.  The company said it is pleased with the outcome of the interrogation of historic drill data which indicates good potential for a small open pit in the range of 3-5 million tonnes of copper ore based on current economics.

Bidstack Group (BIDS), the native in-game advertising group, announced a new and exclusive partnership with Pakistan-based mobile game developer Game Tap Studios. The partnership will see Bidstack serve seamless in-game ads into gameplay whilst offering brands an additional touchpoint with in-menu ads that are designed to fit in naturally with the user experience.

Yü Group (YU.), the independent supplier of gas, electricity and water to the UK corporate sector, said it has been appointed by Ofgem as Supplier of Last Resort for Whoop Energy and Xcel Power Ltd  and agreed to take on their electricity and gas customer books with immediate effect.

Versarien (VRS), the advanced materials engineering group, said that following a collaboration with US-based Flux Footwear LLC, an adaptive footwear company, the company will be supplying graphene enhanced elastomers to Flux to bring an improved model of Flux's 'Adapt' shoe, the 'AdaptMid', to market. Under the terms of the partnership, the 'Adapt' barefoot athleisure model has been enhanced with Versarien's Graphene-Wear™ technology.

THG (THG) notes the fall in the share price yesterday and confirms that it knows of no notifiable reason for the share price movement – possibly other than the management having famously put its foot in its mouth.  The downtrodden company added that in response to recent media speculation regarding the restriction of supplies to THG Beauty, Dermalogica has not placed and is not looking to place any restrictions on its trading relationship with THG Beauty, including with regard to the supply of stock. 

Blencowe Resources  (BRES) announced the addition of a highly prospective nickel sulphide and copper project to complement its existing high-grade graphite project in Uganda. The company said this Project underlines its ambition to become a diversified producer of high-quality source materials for the battery metals industry into the future, mining these within a safe jurisdiction from which to successfully develop long term resource assets.

Thor Mining (THR) provided an update on the Alford East Copper-Gold Project, SA, Australia. The company said that the success of its first phase of drilling, with significant uplift in copper and gold grade, adjacent to the Netherleigh Fault, suggests the potential for extended zones of higher-grade copper and gold along strike and at depth.

Oxford Cannabinoid Technologies Holdings (OCTP) the pharmaceutical company, announced its Interim Results for the six months ended 30 November 2021. The company said it has continued to build on the positive start made to the current financial year. During the period, progress was made on all four of the Group's programmes, particularly regarding the Group's lead candidate OCT461201: a cannabinoid-like compound for neuropathic and visceral pain.

Technology Minerals (TM1), the battery metals group, announced the results from 27 rock samples collected at the Stratabound Manganese - Rare Earth Oxides Project in Oacoma, South Dakota, USA. The company said the positive set of results from the sampling survey at the Oacoma Project, confirmed the presence of rare earth minerals and manganese. It intends to advance its exploration at Oacoma with a more comprehensive and extensive sampling and mapping programme.

Arrow Exploration (AXL) delivered an operational update in connection with the drilling of the next well, the RCE-2 well, at the Rio Cravo Este Field (Tapir Block) in Colombia. The company said it continues to quickly advance towards drilling the RCE-2 well. While preparations for drilling the follow-on RCS-1 well are at an earlier stage, Arrow expects the RCS-1 well to spud during April 2022. The company expects to provide additional updates on the RCE-2 and RCS-1 wells in the coming weeks.

4D pharma (DDDD), a pharmaceutical company, announced that the FDA has cleared IND applications for two Live Biotherapeutics (LBPs), MRx0005 and MRx0029, for the treatment of Parkinson's disease. The company expects to initiate a first-in-human Phase I clinical trial in people with Parkinson's disease in mid-2022.

Belluscura (BELL), a medical device developer, announces its unaudited Preliminary Results for the year ended 31 December 2021. The company said it is “delighted” with progress made in 2021, having successfully launched its first X-PLOR product into the growing supplemental oxygen market. It has continued to develop its follow-on products which will be launched in 2022. The company added that it has a strong balance sheet and is well positioned to deliver substantial growth in 2022. 

PYX Resources (PYX) said it has performed strongly in the fourth quarter of the year due to a boost in premium zircon production, sales volume growth, and ongoing price increases. In Q4 2021, PYX produced 2,192t and sold 2,105t of premium zircon, resulting in a year-on-year production increase of 33% and 13% sales rise, respectively. Zircon sales for the twelve-month period to 31 December increased by 2% to 6,855t and production volumes increased 10% to 7,233t.

 

 

 

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