RNS Hotlist: Angle, Arrow, Ascent, Blencowe, Catenae, Cizzle, DeepVerge, Galileo, Genedrive, Hemogenyx, i3, Microsaic, Osirium, UOG

07:03, 30th May 2022

DeepVerge (DVRG), announces that Innovenn UK Limited has signed a Testing Services Framework Agreement with Abingdon Health plc  for development and manufacture by Abingdon of a range of Lateral Flow Tests for the Modern Water, Labskin and Skin Trust Medical divisions of the Group. DeepVerge said it is now focused on upgrading its offering through the conversion of existing multi-step field tests to single-use Lateral Flow Test. Added to the growing list of products and services the LFT range of tests is expected to contribute to Group revenues in early 2023.

Microsaic Systems (MSYS), the developer of point of need mass spectrometry instruments and related services, announce its audited financial results for the year ended 31 December 2021. Total revenues increased 357% on the previous year to £0.91m (2020: £0.20m). Orders exceeded £1m with order backlog of £125k at year-end for shipping in 2022.

i3 Energy (I3E), an independent oil and gas company,  has entered into a contract with Petrofac Facilities Management Limited under which PFML will provide well engineering, operations management and operator services for the drilling of the Serenity appraisal well on its UK North Sea Licence P.2358 Block 13/23c.

Arrow Exploration (AXL) said that the Rio Cravo Este-2 well was brought on production on May 23, 2022. The company has also successfully spud the next well, RCS-1 (Rio Cravo Sur-1) on May 23rd in the Tapir Block of its Rio Cravo Este 2 area, located in the Llanos Basin of Colombia.

Europa Oil & Gas (EOG), the AIM traded oil and gas company, noted the update by Operator Egdon Resources which announced that the North Sea Transition Authority has approved the Field Development Plan for the Wressle oilfield in North Lincolnshire, held under licences PEDL180 and PEDL182, where Europa holds a 30% interest.

Cornish Metals (CUSN), a mineral exploration and development company, has completed the sale of a 1% Net Smelter Return royalty on the Sleitat tin-silver project, located in Alaska, USA, to Electric Royalties Ltd in return for $100,000 cash and 1,000,000 common shares of Electric.

Alien Metals (UFO), a global minerals exploration and development company, has entered into a Binding Heads of Agreement with ASX-listed Zenith Minerals Ltd (ASX:ZNC) (Zenith) to acquire, subject to the satisfaction of certain conditions, 100% of the Vivash Gorge Iron Ore Project in the Pilbara region of Western Australia.

Blencowe Resources (BRES) announced the commencement of an Airborne Electro-Magnetic survey over leases associated with the Akelikongo Nickel Project in Uganda. As part of the farm-in arrangements for this highly prospective asset, Blencowe has commissioned SkyTEM Surveys Aps to undertake High Definition AEM over several prospective areas on the leases. The program will consist of approximately 3,200-line kilometres of survey to be flown by helicopter on a 200m spacing.

SDX Energy (SDX), the MENA-focused oil and gas company, announced its unaudited financial and operating results for the three months ended 31 March 2022. The company said its average production was 17% higher than mid-point guidance, with both Morocco and South Disouq outperforming and its operated assets continuing to demonstrate a sector-leading carbon intensity of just 3.6kg of CO2e/boe.

Cizzle Biotechnology (CIZ), the UK-based diagnostics developer, announced its audited results for the year ended 31 December 2021. The company said it is developing a blood test for the early detection of lung cancer. Its proof of concept prototype test is based on the ability to detect a stable plasma biomarker, a variant of CIZ1 known as CIZ1B. CIZ1 is a naturally occurring cell nuclear protein involved in DNA replication, and the targeted CIZ1B variant is highly correlated with early stage lung cancer.

ANGLE (AGL), a liquid biopsy company, has signed a master clinical study agreement with Solaris Health Holdings, LLC and joinder agreements with MidLantic Urology LLC, to collaborate and conduct clinical studies in prostate cancer and as a potential route to market in the United States.

Echo Energy (ECHO), the Latin American focused upstream energy company, provided an operational update regarding the Company's producing Santa Cruz Sur assets, onshore Argentina. The company confirms that daily gas production has materially increased in the Oceano field, following a successful facilities maintenance and upgrading programme focussed on improvements in efficiency, reliability and load capacity of the gas facilities at Oceano, which delivers gas to residential suppliers. As part of the Company's plan to increase production, the Oceano field was temporarily shut-in in April 2022 to allow for maintenance and upgrades to the compressor and associated infrastructure.

genedrive (GDR), the near patient molecular diagnostics company, said that the UK Medicines and Healthcare Products Regulatory Agency has granted a CTDA enabling the sale of the Genedrive® COV19-ID Kit in the United Kingdom.  Genedrive's application for approval, under the requirements that came into force on 28 July 2021 via The Medical Devices (Coronavirus Test Device Approvals Regulations (2021)), was made on 21 December 2021.

Ascent Resources (AST), the energy and natural resources company, announced a "no win no fee" funding arrangement - to appoint Enyo Law LLP to pursue the Company's Energy Charter Treaty and UK-Slovenia Bilateral Investment Treaty arbitration claim against the Republic of Slovenia. Presumably the Republic of Slovenia is going to start an extended period of sleepless nights with this development.

Mkango Resources (MKA) and CoTec Holdings Corp. (TSX-V: CTH) announced that, on May 29, 2022, they signed a non-binding term sheet in relation to a potential £2 million convertible note investment in Mkango bearing 5% interest, a potential £1.5 million equity investment in Maginito, and a co-operation agreement regarding future investments in rare earth processing technology opportunities in the United States.

Guild Esports (GILD), a global teams organisation and lifestyle brand, announced that it has won its sixth major trophy after its FIFA pro-player, Nicolas Villalba, achieved first place in Europe's prestigious EA Sports FIFA 22 eChampions League on 27 May 2022.

Hemogenyx Pharmaceuticals (HEMO) has been notified that Andrew Wright, the Company's Financial Controller and Company Secretary, has purchased 1,284,889m shares at 1.44p. Following this transaction, Mr Wright has 0.41% of the company.

ATOME Energy (ATOM), the international company focused on green hydrogen and ammonia production, said that it has appointed Liberum Capital Limited as Joint Broker with immediate effect. ATOME now has three joint brokers, so clearly money is no object.

United Oil & Gas (UOG) the oil and gas company, announced an update on the drilling of the ASV-1X exploration well in the Abu Sennan licence, onshore Egypt. United holds a 22% working interest in the Abu Sennan licence, which is operated by Kuwait Energy Egypt. The company said that following completion of the first phase of the well-testing programme, its active, fully funded 2022 drilling programme continues with the spudding of the development well, Al Jahraa-14 on the Al Jahraa Field a follow up to the commercial discovery at AJ-13 at the end of 2021.

Galileo Resources (GLR) provided its first exploration update and information on drill planning over its Option and Joint Venture project covering the Shinganda Copper-Gold Project, Zambia entered into at the end of last year and comprising Large Scale Exploration Licence No. 22990-HQ-LEL, which gives the company the right to earn an initial 51% interest in the Project. The company said the outcome of its initial work at the Shinganda project showed much indication of the presence of copper and gold, with gold being more elevated in grade than most projects, There appears to be potential for the target of a small open pittable resource, with the initial drilling programme giving an indication of the larger potential along strike and to depth.

Cora Gold (CORA), the West African focused gold company, announce the third and final set of drill results from its recently completed 2022 drill programme at the Company's Sanankoro Gold Project in southern Mali. The company said the final drill results from its 2022 campaign have delivered some of its best results of the year.  12m @ 7.61 g/t Au from 18m depth is an “excellent” oxide drill hole from Selin South as it looks to add new Indicated Mineral Resources there.

Catenae Innovation (CTEA), the AIM quoted provider of digital media and technology, said it had received a purchase order for £95,000 from an existing customer to provide further digital technology solutions to the customer. It is expected that at least half of this purchase order will be fully satisfied in the current financial year. Furthermore, an agreement has been renewed with another existing customer securing in aggregate £19,000 of revenues, which the company anticipates more than half of the revenue will be recognised in the current financial year.

Osirium Technologies (OSI), a vendor of cloud-based cybersecurity and IT automation software, announced its first standalone Privileged Endpoint Management contract win with a global imaging brand. The customer has selected the Group’s PEM solution as part of its Cyber Essentials compliance project, replacing a manual system for managing user accounts. Under the three-year contract, PEM will be rolled out to 500 users in the customer’s UK operations.

EQTEC (EQT), a technology innovation company, said that the Université de Lorraine has released a report verifying that EQTEC's Advanced Gasification Technology successfully converts contaminated plastic waste into synthesis gas, “cleanly, stably and efficiently.”

First Tin (1SN), a tin development company with advanced, published its final audited results for the year ended 31 December 2021. The company said it enters life as a listed company with a portfolio of high value, low capex tin assets located in Tier 1 jurisdictions with near term production and exploration upside potential. Both assets are ideally located to deliver a sustainable answer to the ongoing supply shortage currently facing many industrial users of tin.




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