RNS Hotlist: Alien, Altona, Caerus, Cornish, DeepVerge, Eco, Helium One, Horizonte, Nostra, Supply@ME, Tern, Touchstone, Union Jack, UOG.

The fightback continues at DeepVerge (DVRG), as the first six installations of Modern Water Post-Pandemic Microtox®PD pathogen detection systems in wastewater have been deployed to various sites in the UK which form part of the Environmental Monitoring for Health Protection programme, led by the Joint Biosecurity Centre, Defra, academia and water companies. These units, worth £480,000, referred to in the RNS of 28th October 2021 are additional to the £5m Modern Water production orders announced in the RNS of 11th March 2022[2]. Additional Microtox®PD units are expected to be deployed over the next few months in the UK.

Cornish Metals (CUSM), a mineral exploration and development company said it plans to raise gross proceeds of up to £40,500,000. This is in relation to the redevelopment of South Crofty, the Company's principal asset. Given that the market cap of CUSN is currently £76m, this is quite a chunky deal.

United Oil & Gas (UOG), the oil and gas company, announced an update on the ASD-2 development well in the Abu Sennan licence, onshore Egypt. United holds a 22% working interest in the licence, which is operated by Kuwait Energy Egypt. The ASD-2 well has commenced production at an initial rate of c. 2,100 bopd gross (c.462 bopd net), significantly above pre-drill expectations.

Caerus Mineral Resources (CMRS), the Cyprus-based exploration and resource development company, provided an update on the Mala Project in Cyprus. The company said the consistent presence of anomalous gold values in the Mala waste dumps is an exciting discovery that warrants further follow-up.

Helium One Global (HE1), the primary helium explorer, announced its unaudited condensed and consolidated results for the six months ended 31 December 2021. The company said its 2021 drilling campaign delivered 'proof of concept'. Its 2022 drilling campaign is supported by an integrated subsurface database pulling together information from 2D Seismic, multispectral satellite spectroscopy, electrical resistance tomography, airborne gravity gradiometry and QEMSCAN analysis – concepts one imagines at least 5% of shareholders understand.

Alien Metals (UFO), a minerals exploration and development company, is pleased to update the market on its high-grade silver and copper-gold projects in Zacatecas, Mexico. After a Covid-induced delay of two years, it is finally commencing the next round of exploration on our highly prospective Mexican assets.

Eco (Atlantic) Oil & Gas (ECO), the oil and gas exploration company, confirmed that it and Azinam Holdings Limite have now received final approval for Eco's acquisition of Azinam Group Limited,  and accordingly Eco is now the sole owner of Azinam.

Nostra Terra (NTOG), the international oil & gas exploration and production company, announced a significant expansion its Senior Lending Facility, along with a significant increase in the company's asset value. Total net proved reserves have increased by 10% when compared to the 1 September 2021 reserves.

Strategic Minerals (SML), a producing mineral company, informed the market of the successful extension of its access to the magnetite stockpile in New Mexico from the recently announced rollover to 31 March 2023 until 31 March 2027.

Altona (ANR), a mining exploration company, announced its unaudited interim results for the six months ended 31 December 2021. Post period initial assay results from Monte Muambe have shown significant resource potential. The company, which is moving to a standard listing, away from the joys of Aquis, said the strengthening long-term outlook for REE metals support its strategy of investing in known REE assets and prospecting new targets across Southern and East Africa.

Ted Baker (TED) said it notes the recent press speculation and confirms that it has received two unsolicited non-binding proposals from Sycamore Partners Management L.P.  in relation to a possible cash offer for the company. Ted Baker said it has carefully reviewed both of Sycamore's proposals with its advisers and concluded they significantly undervalued – although perhaps in the present environment not looking a gift horse in the mouth may prove to be wise.

Horizonte Minerals (HZM) the nickel development company focused in Brazil, announced its final results for the year ended 31 December 2021. Post period and following completion of the funding package and a positive construction decision for Araguaia, activity in Q1 2022 has been to advance engineering, place orders for long lead equipment and Engineering Procurement and Construction Management services and to commence early works at the project site.

Tern (TERN), the company focused on value creation from Internet of Things technology businesses, has committed to exercise the 320,454 TO1 Warrants in Wyld Networks AB pursuant to its investment as part of Wyld Networks' Offering in conjunction with Wyld Networks' IPO and admission to trading on the NASDAQ First North Growth Market in Stockholm on 2 July 2021.

Nuformix (NFX), a pharmaceutical development company, announced the publication of an international patent in relation to the Company's NXP004 asset, which comprises novel forms of olaparib.  Olaparib is currently marketed by AstraZeneca, under the Lynparza® brand name.

Cambridge Cognition Holdings (COG), which develops and markets digital solutions, announced that it has won a contract worth just over £1 million with a top 10 pharmaceutical company to provide digital cognitive assessments for a pivotal phase III autoimmune disease trial. Revenue from the contract is expected over the next three years.

Touchstone Exploration (TXP) reported its operating and financial results for the three months and year ended December 31, 2021. The company said its near-term priority is to bring its Coho and Cascadura exploration discoveries onto production.

Union Jack Oil (UJO) a UK focused onshore hydrocarbon production company, said that material landmark net revenues of $4 million have been achieved from the Wressle hydrocarbon development, located within licences PEDL180 and PEDL182 in North Lincolnshire on the western margin of the Humber Basin.

Phoenix Copper (PXC), the AIM quoted USA focused base and precious metals emerging producer and exploration company, announced its audited results for the year ended 31 December 2021. Thr company said Empire Mine open pit feasibility model has been completed: pre-production capital expenditure payback will be in less than two years, with gross revenue of $836 million over 10 years, $43 million post-tax cash flow in year 1 (at $3.60 / lb copper price).

ENGAGE XR (EXR), a virtual reality technology company, announced that its new hires - Richard Allin and Kyle Horner - have officially joined the Group as it builds its US presence in preparation for the launch of its enterprise-focused Metaverse offering. The US is expected to be a major market for the new offering that remains on track to be launched in the second half of 2022. The XR Metaverse market in America is currently valued at US$38.85 billion and, estimated to grow to over US$678 billion by 2030.

Pure Gold Mining (PUR) provided an operations update from the Company's PureGold Mine in Red Lake, Ontario and to provide an updated corporate outlook for 2022. The company said by the end of 2022 it is targeting a minimum of a 50% increase in average daily ore production, a 30% increase in average head grade, and a 20% reduction in monthly operating costs compared to 2021 totals.

Enigmatic fintech group Supply@ME Capital (SYME) has received a conversion notice from Mercator Capital Management Fund LP  in respect of the outstanding £178,333.34 in principal amount of the Convertible Loan Notes issued by the Company on 2 February 2022, in lieu of a cash repayment, in accordance with the terms of the Loan Note Facility announced in the RNS of 29 September 2021.