RNS Hotlist: Eco, Europa, i3, Kefi, Love Hemp, Poolbeg, Rambler, Sovereign, Synairgen, Tungsten West, United Oil and Gas

Zak Mir
Traders Cafe
07:58, 3rd March 2022

Poolbeg Pharma (POLB) announced its audited results for the period ended 31 December 2021. The company said it has grown and diversified its portfolio of products and platforms targeting a range of infectious diseases. POLB  001 is on track to commence its LPS human challenge trial, it has in-licensed an intranasal RNA-based immunotherapy POLB 002, as well as partnering to develop an oral vaccine delivery platform and agreeing an option to licence a late pre-clinical Melioidosis vaccine, POLB 003.

Tungsten West (TUN), the mining Company focussed on recommencing production at the Hemerdon tungsten and tin mine in Devon, England, provided a project update. The company said it is “extremely pleased” with progress at site, particularly the onboarding of Fairport Engineering to undertake the detailed design and construction of the project. It is looking forward to working with Fairport as it moves towards restarting full production at Hemerdon, through the introduction of XRT ore-sorting and upgraded processing equipment. The company has assembled a strong projects and operations team.

Sovereign Metals (SVML) said that it has entered into a non-binding Memorandum of Understanding  with Hascor International Group™ for potential supply of 25,000 tonnes of natural rutile per annum from the Company's Kasiya Rutile Project in Malawi to Hascor's processing plants and clients across five continents.

Synairgen (SNG), the respiratory company developing SNG001 and having pulled the rug from under its shareholders recently via its share price, announced an update on SNG001 in the ACTIV-2 Phase 3 trial for COVID-19 and on SNG001 activity against Delta and Omicron variants. The company said that in vitro studies have shown that SNG001 has potent antiviral activity against SARS-CoV-2 Delta and Omicron variants at concentrations that are readily achievable following inhaled delivery of interferon beta.

Eco (Atlantic) Oil & Gas (ECO), the oil and gas exploration company, said that the Joint Venture partnership of Block 2B, offshore South Africa, has entered into a drilling contract for the Island Innovator semi-submersible rig with Island Drilling Company AS for the upcoming drilling of the Gazania-1 well.

United Oil & Gas PLC (UOG), the oil and gas company, whose shares are perhaps just starting to respond to $100 a barrel crude oil, issued a corporate update. The company said that with its low-cost producing asset base, which is significantly leveraged to the rising oil price, it remains focused on implementation of its work programmes from a fully funded position in Egypt, in addition to progressing the farm out of its Jamaican assets.

KEFI (KEFI), the gold and copper exploration and development company, said that development activities at the Tulu Kapi Gold Project, part of the KEFI-operated Ethiopia joint-venture Tulu Kapi Gold Mines Share Company have recommenced.

Love Hemp Group (LIFE), a company focussed on CBD health and wellness solutions, said it has won four accolades in this year's Beauty Shortlist Awards.  The company said that these recent accolades from the Beauty Shortlist Awards join a host of other awards for Love Hemp, and are perhaps the Oscars of its space.

After the market close yesterday i3 Energy (I3E) notes the announcement by Europa Oil & Gas Limited (EOG) regarding its agreement in principle to farm-in to the company's Serenity oil discovery in the UK North Sea and the equity funding it is conducting to fund its farm-in obligations. The farm-in will enable Europa to acquire a 25% non-operated working interest in a sub-area of UKCS Licence P.2358 Block 13/23c (containing the Serenity discovery) by funding a 46.25% paying interest for one appraisal well on the field, whereafter i3 will retain a 75% operated WI in the Block. The well cost is estimated to be circa £14 million and Europa's 46.25% paying interest will be applied up to a capped gross well cost of £15 million. Today EOG announced that it had raised £7m at 1.8p.

Also from yesterday - mid-session, Rambler Metals and Mining (RMM), a copper and gold producer, explorer, and developer, announced its preliminary operational results for the month of February 2022. The company said that the developed state of the underground mine is now yielding the levels of production that will enable the mill to operate at full capacity in March 2022.  It expects to see the Cu grade progressively improve as higher-grade ores are accessed in the Upper Footwall and Ming North Zones.  February – a short month, was nevertheless able to match the total performance achieved in January 2022.

 

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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