RNS Hotlist: Amigo, Chamberlain, Enwell, GreenRoc, Kavango, Love Hemp, MGC, Oncimmune, Osirium, Panthera, Polarean, Riverfort, San Leon, United Oil & Gas, Xtract

Love Hemp Group (LIFE), the CBD consumer goods company, updated regarding its Board and Management changes and the suspension of trading on the AQSE Growth Market which took place on 3 May 2022. Graham Mullis has agreed to move from Independent Non-Executive Director to Non-Executive Chairman. Andrew Male will take up a new role as a Non-Executive Director. The company has commenced discussions with a proposed new AQSE Corporate Adviser to enable the suspension to be lifted and it will further update shareholders in due course.

Yesterday Xtract Resources (XTR) advised that independent laboratory assays have been received for drill holes BRDD-22-040, BRDD-21-041 & BRDD-22-042 from the Phase 2 diamond drilling programme at the Bushranger copper-gold exploration project. The company said Hole BRDD-22-042 is the most southern hole it has drilled in the Racecourse resource area. While considerable lengths of mineralisation are present, it is evident that it has reached the southern end of the Racecourse mineral deposit. Planning will be advanced to define the conceptual open pit on the back of the drilling results, updated resource modelling and metallurgical test work completed.

San Leon, the independent oil and gas production, development and exploration company focused on Nigeria, announced its audited final results for the year ended 31 December 2021. The company said the last year has been the most significant year in its development, and that its transactions, when completed, will not only increase its initial indirect economic interest in OML 18, a world class asset with unrealised potential, but also its interest in ELI and the new ACOES pipeline which are critical to the future success of OML 18 through the expected reduction of pipeline losses and increase in the uptime for export that it is expected to provide. 

United Oil & Gas (UOG), the oil and gas company, noted the publication of a new research note by Optiva Securities Limited on the company's Maria discovery, located in the Outer Moray Firth Basin in the Central North Sea. In the note, Optiva Securities Limited value the Maria discovery at £33.5 million or 5.2p per share on a risked basis, or £109.1 million or 14.0p per share on an unrisked basis. Shares of UOG closed at 1.8p yesterday.

Polarean Imaging (POLX), the medical‑imaging technology company, announced that it has completed the installation of the additional Xenon Polariser 9820 at the Center for Pulmonary Imaging Research at the Cincinnati Children's Hospital Medical Center.

Oncimmune Holdings (ONC), an immunodiagnostics group, announced the appointment of Alistair Macdonald as Non-executive Chair, effective immediately. He said, Oncimmune has successfully delivered on its strategy to transform the business from one wholly focussed on a single asset diagnostic to an emerging pharma services business; the foundation stone is now laid for growth.

Kavango Resources (KAV) provided an operational update on its Kanye Resources Joint Venture with Power Metal Resources. The company said it has come a long way with Ditau in a very short period of time. These are complex targets, in an area where there was almost no prior geological data. Kavango's application of systematic modern exploration methodologies is starting to unlock the complex geological history of this area.

Amigo Holdings (AMGO), a provider of guarantor loans in the UK, announced results for the year ended 31 March 2022. The company said the profit it is reporting of £170m should not be taken as an indication of Company performance or shareholder benefit. It is a result of the recent Court ruling in favour of a Scheme of Arrangement to pay out compensation to customers who were mis-sold loans. Prior to the ruling, Amigo was insolvent and the only change is that the complaints provision has been replaced with a Scheme provision of just under £170m.

Panthera Resources (PAT), with assets in West Africa and India, announced the drilling programme at the Bassala Project in Mali has now ended with all samples delivered to the assay laboratory. The company said the Basala project has a large number of mineralised targets with three areas prioritised for follow-up AC/RC drilling in this programme.  Logging of drill cuttings has observed strong quartz veining and alteration. Assay results are expected later in the quarter.

GreenRoc Mining (GROC), a company focused on the development of critical minerals projects in Greenland, announced that the Government of Greenland has granted exclusive Mineral Exploration Licence 2022-03 to the Company. The granted licence area encompasses a potential southerly extension to the Kalaaq deposit as well as several known graphite showings which are separate from both the Amitsoq Island and Kalaaq deposits.

Chamberlin (CMH), the specialist castings and engineering group, announced a trading update for the financial year ended 31 May 2022. The group said it expects to report revenues for FY 2022 of approximately £16.5 million (14 months ended 31 May 2021: £22.7 million), in line with market expectations and adjusted EBITDA of £0.2 million, up 112% on the prior period (14 months ended 31 May 2021: £1.7 million loss). The company also expects to report a profit after tax of £0.1 million, in line with market expectations.

MGC Pharmaceuticals (MXC), a bio-pharma company, has received study and importation approval from the South African Health Products Regulatory Authority for the Phase IIb dose finding study to be undertaken on patients diagnosed with COVID-19. The study to be undertaken in South Africa is an extension of the dosing study currently underway in Israel, with interim analysis results due in the coming weeks.

Enwell Energy (ENW), the AIM-quoted oil and gas exploration and production group, provided an update on its operational activities in Ukraine. The company said the Russian military action has made the situation in Ukraine extremely challenging. Nevertheless, Enwell had been able to continue production and some field operations at the MEX-GOL and SV fields, and completion of the drilling of the SC-4 well at the SC licence is planned shortly. However, all operations at the VAS field (located near to Kharkiv) remain suspended due to the risks associated with the military activity near this location.

RiverFort Global Opportunities (RGO) said that further to the announcement of its full year results for the year to 31 December 2021 on 24 June 2022, it declared the payment of a dividend for 2021 of 0.038 pence per share, equivalent to a current gross yield per share of over 4%.

Osirium Technologies (OSI), a vendor of cloud-based cybersecurity,  announced an update on trading for the six months ended 30 June 2022. The company said the positive trading momentum reported in the Company's Q1 2022 trading update has continued through Q2, and the Board expects to report the Group's best six-month figures for bookings and revenue: Bookings increase of 30% to not less than £1.18 million (1H 2021: £0.91 million), with more than 50% of the value coming from new customer wins.