RNS Hotlist: Bens. CYBA, East Star, Echo, Guild, Hurricane, MGC Pharma, Oxford Cannabinoid, 7digital, Thor
Bens Creek (BEN), the owner of a metallurgical coal mine in North America, provided a trading and operational update ahead of release of results for the year ended 31 March 2022, expected by the end of August 2022. The company said it remains on track with its operational plans and targets. It has substantially invested in its operations, including the remediation of the railway line and the wash plant and undertaking the necessary repairs to the underground mining infrastructure. This investment in West Virginia, has enabled it to be in a position to meet production targets and at a run rate of c. 40,000 clean tonnes per month.
Following on from its recent Coca Cola win, Guild Esports (GILD), a team organisation and lifestyle brand, announced the signing of a one-year global sponsorship deal with Hyperice, a California-based manufacturer of athletic recovery technology and devices. Hyperice is the seventh sponsor signed by Guild in a global deal to become the Company's Official Wellness Technology Partner with effect from today.
East Star Resources (EST), the Kazakhstan-focused gold, rare earths and copper explorer, announced the commencement of diamond drilling on the Apmintas Licence in the Chu-Ili orogenic gold belt of central Kazakhstan. The company said that after an extensive predrilling field programme which included geological surveys, soil sampling and ground-based magnetics, it is “very excited” to commence this high impact drilling campaign which it hopes will provide the data required to prove extensive high-grade gold mineralisation.
Thor Mining (THR) provided an exploration update on sampling and mapping programs which have been completed at the Company's 100% owned Ragged Range Project, located in Eastern Pilbara, Western Australia. The company said these latest highly encouraging sampling results, including high-grade copper and gold, from three consecutive programs at Ragged Range continue to build on and develop its geological understanding, with particular emphasis on structural controls on mineralisation at both the Sterling gold prospect and Kelly's copper-gold prospect.
Oxford Cannabinoid Technologies (OCTP) the pharmaceutical company, announced its final results for the eleven month period ended 30 April 2022. The company said that while the pharmaceutical biotech sector as a whole continues to be impacted by worldwide economic and geo-political events, internally it continues to focus on increasing shareholder value by delivering against its strategic plan which should deliver key value inflection points within months as Programmes 1 and 2 are due to complete phase 1 clinical trials.
7digital (AIM: 7DIG), the B2B end-to-end digital music solutions, announced it has signed a long-term contract with Utopia Music AG, a B2B music fintech company. Utopia is a new customer for the company and marks the growing demand for music data and intelligence services, where 7digital's music-as-a-service platform provides access to global audio and track metadata for various use cases such as identifying music or artist, monitoring broadcasts, and monitoring copyrighted material. The company said It is always “exciting” to secure a new customer that reflects the competitive strength of its offer. Combining Utopia's next-gen tracking and payouts technology with 7digital's leading catalogue and metadata will enable music recognition for up to 100 million songs worldwide and support the whole industry to make more money faster, with fewer costs.
MGC Pharmaceuticals (MXC) a European based bio-pharma company, provide its Quarterly Activities Report for the three months ending 30th June 2022. The company said it remains resolutely focused on advancing its innovative products through the clinical pipeline of product development and continues to progress a number of products towards regulatory approval. This has been supported by strong clinical trial results and partnerships with companies such as Sciensus Rare and AMC Holdings that will help it achieve its goals.
Echo Energy (ECHO), the Latin American focused energy company, provided an operational update regarding progress in the execution of the Santa Cruz Sur assets Production and Infrastructure Enhancement Plan. The company said equipment has now been mobilised to the field in Santa Cruz Sur and installation is anticipated to take a month from commencement. The new generation infrastructure consists of one unit of 1,375 Kilo Volt Amps (KVA) capacity for the Cerro Molino Oeste field, one unit of 375 KVA capacity for the El Indio Oeste field, and one unit of 375 KVA capacity to be installed in the Oceano field. The on-site installation and commission of all three units will begin during the week commencing 25 July 2022.
CYBA (CYBA) the cybersecurity group, announced that its 100% owned subsidiary Narf Industries LLC has signed its first commercial contract for its Threat Intelligence for Grid Recovery suite of products. The company said it is poised to become a market-leading supplier of cybersecurity software and solutions. TIGR addresses a vital market need - namely protecting critical gas and electric control systems, against cyberattack by quickly locating persistent attackers and kicking them out. The need is “clear and urgent”.
“Debt free” remains a somewhat magic phrase as far as the stock market is concerned. Hurricane Energy (HUR), the UK based oil and gas company, announced that it has repaid in full its outstanding $78,515,000 7.50 per cent Convertible Bonds plus $1.5 million of accrued interest by the maturity date of 24 July 2022. The Bonds will now be delisted from The International Stock Exchange and cancelled. The company said the repayment it debt free.
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