RNS Hotlist: Bluebird, Bluejay, Bradda, Cadence, Capital Metals, EQTEC, Gunsynd, MetalsOne, Midatech, NFT, Ormonde, Oxford Biodynamics, Reabold, Rockfire, Savannah, Thor

Capital Metals (CMET), a mineral sands company focused on Sri Lanka, announced the second half of results from the late-2021 auger drilling programme. The company said that results from the second half of its auger drilling campaign continued a similarly encouraging pattern to all recent drilling campaigns and underlines that its Project is amongst the highest-grade mineral sands deposits in the world. These and future results are anticipated to continue to uplift the average grade of the current global resource, which at 17.6% THM is already in the highest quartile globally.

Oxford BioDynamics (OBD), a biotechnology company which tends to enjoy keeping a low profile, has announced that its Checkpoint inhibitor Response Test (CiRT) clinical blood test is now available to private physicians considering ICI therapy for their patients in the UK. The first-of-its-kind EpiSwitch CiRT blood test predicts the likelihood of a cancer patient's response to the widely used class of therapeutics - ICIs - including anti-PD-L1 and anti-PD-1 immunotherapies.

Perhaps at long last, good news for NFT Investments (NFT) shareholders. The incubator specialising in the market for non-fungible tokens, said that the £5m loan made to Pluto Digital LLC, announced on 24 January 2022, has been repaid in full along with accrued interest, as per the agreement. The repaid amount with interest amounted to £5,180,822.

Thor Mining (THR) announced the commencement of a drilling program at the Company's 100% owned Ragged Range Project, located in Eastern Pilbara, Western Australia. The company said it was “exciting” to be commencing our second phase of RC drilling at the Sterling Prospect, Ragged Range, including drill testing the recently identified EM conductor beneath the nickel gossan, at the Krona Prospect. These are “robust” geochemical targets associated with key structural features defined by Thor, associated with the regional thrust faulted mafic -ultramafic contact within the Kelly Greenstone Belt.

Cadence Minerals (KDNC) announced its final results for the year ended 31 December 2021. The company said that during 2022, its priorities on the Amapa Iron Ore Project will be the publication of a maiden Ore Reserve Estimate, followed by the release of a PFS on the project. It will also plan to increase its stake in the asset. In addition, its investment in Lithium Technologies and Lithium Supplies will have listed during 2022.

Bluebird Merchant Ventures (BMV), the South Korean focused gold development group announced an operational update at the Kochang gold and silver mine. The company said the latest field work is encouraging as not only does it provide opportunity to increase ore inventory but also indicates that the potential for future production at Kochang may be larger than previously expected.

Savannah Resources (SAV), the European lithium development company, said that it has successfully achieved another major project milestone for its 100% owned Barroso Lithium Project, with locked cycle testing completed, utilising the recently finalised process flowsheet and optimised grind size of 150 micron, delivering further “excellent” recoveries. The company said that locked cycle testing is an important process in ensuring an accurate process flow sheet and verified inputs to the upcoming Definitive Feasibility Study.

Ormonde (ORM) announced its final results for the year ended 31 December 2021. The company said it is reviewing a range of acquisition opportunities in appropriate jurisdictions including precious metals, precious stones, battery metals and base metals projects. There is a cash balance of €3.75m, placing it in a “position of strength” to undertake a transaction.

Rockfire Resources (ROCK), the gold and base metal exploration company, announced that soil sampling at the Plateau gold deposit in Queensland, Australia, has returned strongly elevated gold results, which outline a readily accessed and untested target at least 200 m long. The company said the magnitude of the results is “pleasing” and provides a clear target for drilling. In addition to its on-going work in Greece, Rockfire said it intends to drill the near-surface gold targets at Plateau to increase the JORC resources already defined.

Gunsynd (GUN) said it has agreed binding heads of terms with Metals One Plc to farm into the Black Schist Projects in Finland, containing a nickel-zinc-copper-cobalt deposit proximal, and analogous, to the large Talvivaara mine. Gunsynd has agreed to provide funding to Metals One of £1 million for the development of the Project, for which it will be issued such number of shares in the capital of Finnaust Mining Northern OY, which equal 25% of the voting rights in Finnaust. The Investment is conditional upon Metals One being admitted to trading on the AIM market of the London Stock Exchange  and simultaneous acquisition of Finnaust.

Reabold (RBD), the AIM quoted investing company, updated on the West Newton Project, in which the Company owns a 56% economic interest. It said it is progressing the conceptual development plan for West Newton as, predominantly, a gas development project following the completion of the significant work carried out by PEDL 183 Joint Venture partners and independent third-party experts.

Midatech Pharma (MTPH), an R&D biotechnology company, said that following the submission of an application to the European Medicines Agency, its development programme of MTX110 for the treatment of glioma has been granted Orphan Medicinal Product designation by the agency. Midatech has been developing MTX110 for the treatment of recurrent glioblastoma in adult patients and diffuse intrinsic pontine glioma and medulloblastoma in paediatric patients.

Bradda Head Lithium (BHL), the North America-focused lithium development group, said that it has received conditional permission to begin a drilling programme at its San Domingo pegmatite district in Arizona. The company said it is “delighted” to have received conditional drilling permission at its San Domingo pegmatite project. The results of its previous geophysical campaign demonstrated that there is potential for the extension of pegmatite mineralisation at depth, which also aligns with previous geological modelling from the company's geological team.

EQTEC (EQT), a technology innovation company, announced the receipt and acceptance of non-binding Heads of Terms with Optima Bank S.A. for a debt facility to support construction of a 1MWe waste-to-energy project at Livadia, in Boeotia, Greece.

Bluejay Mining (JAY), the exploration and development company, updated on the 100% owned Kangerluarsuk Zinc-Lead-Copper-Silver project in central west Greenland. The company said it is “excited” to commence these airborne surveys at Kangerluarsuk. Historical mapping and sampling demonstrates similar geology to the Black Angel mine to the south and work by previous operators, identified several areas of outcropping and significant zinc, lead, silver copper mineralisation.