Proactive news headlines: Deltic Energy, CMC Markets, Allergy Therapeutics, Gfinity, Braveheart Inve
Deltic Energy PLC (LON:DELT) revealed it has significantly expanded its footprint in the Southern and Central North Sea, landing six awards in the UK government’s latest offshore licensing round The company, in a statement, announced it had been provisionally awarded six licences, covering twelve full and part blocks, which span a total of 2,155.5 square kilometres. In a separate statement, Deltic’s interim results highlighted a strong balance sheet, with £12.8mln of cash at the end of June 2020, and confirmed that its North Sea venture with Shell remains on-track. The partners are committed to meeting the licence terms for the P2252 asset, which primarily includes the Pensacola prospect, and that would see a contingent well commitment become firm by December 2020. A Pensacola well could come as soon as next year.
CMC Markets PLC (LON:CMCX) has lifted market guidance again, with current year net operating income expected to be ahead of the current market consensus. The trading platform operator issued a trading update covering the period since July 1 in which it said the consistently strong performance across the business had continued, with the net income operating income run rate running only slightly below the preceding three months – the first quarter of CMC’s fiscal year – when volatility was running high as a result of uncertainty caused by the spread of the coronavirus (COVID-19). Client income has continued to exceed the corresponding period of 2019 while client income retention has remained well above the guidance of more than 80%. The stockbroking business also continues to perform strongly.
Allergy Therapeutics PLC (LON:AGY) is expanding its licensing agreement with vaccine groups Saiba and DeepVax in a move that will take it into oncology. The move builds on a collaboration in the area of virus-like particle (VLP) technology that has seen the UK group develop a peanut allergy candidate which has shown early promise. The plan is to expand the tie-up to target solid cancer tumours, atopic dermatitis, asthma, and psoriasis.
Gfinity PLC (LON:GFIN) said it has agreed distribution deals with three leading global broadcasters, alongside its partner Abu Dhabi Motorsport Management (ADMM), for the new V10 R-League virtual racing competition, the first championship in a global racing series partnership between the two firms. Under the agreements, the V10 R-League will be available on BT Sport, ESPN and STARZPLAY Arabia, while highlights will be broadcast across team and talent channels in a distribution plan covering both broadcast and digital formats. BT Sport and STARZPLAY Arabia have signed multi-year commercial agreements for exclusive rights in the UK & Ireland and the Middle East and North Africa (MENA) regions respectively, while ESPN’s agreement means season one and two of the V10 R-League will be broadcast in the US and made available in Canada, Latin America, the Netherlands, the Caribbean and Oceania.
Braveheart Investment Group PLC (LON:BRH) has highlighted progress in the development of a coronavirus test by its investee company Paraytec and the University of Sheffield. The investment group said having previously completed work packages relating to the construction of a viral mimic and the capture SYSTEM for the test, Paraytec’s development of a signal generation module, which contains a synthetic coronavirus binding protein molecule bonded to fluorescent nanospheres, has now been completed. Meanwhile, Braveheart said work has been initiated and continues to progress on building an optical detection system, which is used to detect and quantify the fluorescent nanospheres that bind the CAPTURE Module in the presence of the virus.
Oncimmune Holdings PLC (LON:ONC) said an approach to managing lung cancer that uses the EarlyCDT Lung test pioneered by the group has been deemed “highly cost-effective” by healthcare economists. The study, led by academics from Leeds University, assessed the treatment of people with indeterminate pulmonary nodules (IPNs). It looked at the deployment of the £70 Oncimmune blood test in combination with computed tomography and compared it with using the CT scans on their own. Not only did the approach have a “positive impact on the outcomes of those patients observed”, but it also provided a cost-effective method of managing patients.
Curtis Banks Group PLC (LON:CBP) said its recurring fee model has protected its business against the worst of the effects of the coronavirus (COVID-19) pandemic. The self-invested personal pensions (SIPP) plan provider said revenue in the first half of 2020 was unchanged from a year earlier at £24.5mln. Adjusted profit before tax nudged up by 0.6% to £6.3mln from £6.2mln in the first half of 2019.
Shanta Gold PLC (LON:SHG) has provided investors with a pair of updates which together bolster the New Luika gold mine, where production and exploration activities are ongoing. The AIM-quoted gold firm has confirmed it has total group-wide mining reserves of 653,000 ounces plus 3.2mln ounces of total resources. Shanta noted that this marks as its highest ever reserves and resources and that the company has a proven track record of delivering low-cost programmes to replace mined ounces. Meanwhile, in a separate update, Shanta said the ongoing 2020 exploration drilling programme at New Luika has loaded some 75,000 ounces of new gold resources into the inventory.
Jersey Oil and Gas PLC (LON:JOG) has expanded its position in the North Sea, securing an area that will become part of the Greater Buchan Area (GBA) development project. The company announced it has been awarded a 100% interest and operatorship of, part-block 20/5e. It noted that the acreage contains an extension of the oil discovery of the J2 well. Jersey Oil & Gas said it understands that the part-block will be incorporated within the area that contains the Buchan oil field and the J2 oil discovery. It forms the basis of the company’s proposed GBA development plans.
IQGeo Group Plc (LON:IQG) said it has won an US$800,000 (£600,000) new contract for software licences and services with a large tier 1 telecoms network operator. The contract comprises a software licence subscription to be recognised over the next three years and certain implementation services to be recognised over the next two years. The customer will be using the IQGeo Platform and Workflow Management software to improve construction process efficiency and productivity to support a major investment in expanding its fibre network infrastructure.
Diversified Gas & Oil PLC (LON:DGOC) shares will be included in the FTSE 250 index following the latest reshuffle of the index which takes place later this month. Chief executive Rusty Hutson said he expects it will further increase DGOC’s market exposure and it will broaden the company’s investor base. The profitable, dividend-paying America-focused gas and oil producer has risen in prominence in recent years driven by a series of transactions that consolidate portfolios of established fields in the Appalachia basin, across states such as Pennsylvania, Ohio, West Virginia and Kentucky.
Argo Blockchain PLC (LON:ARB) has reported higher revenues and mining margins in the month of August, highlighting a continued strong performance in the price of Bitcoin. In a monthly update, the cryptocurrency miner reported revenues of £1.49mln in August, up from £1.25mln in July, while its average monthly mining margin rose to 44% from 34% month-on-month. The company said it had mined 166 Bitcoin and Bitcoin equivalent during the month compared to 165 in July, which it attributed to “minor fluctuations in mining difficulty throughout August”. However, Argo said it continues to mine at cost-efficient settings and was “pleased with the overall mining performance given market conditions”. The company also announced the appointment of finnCap as its corporate broker with immediate effect.
BlueRock Diamonds PLC (LON:BRD) has reported that in August it processed 41,000 tonnes of ore from the main pit of its Kareevlei mine in South Africa, with the diamonds mined improving significantly to an average grade of 5.1 carats per hundred tonnes (cpht). The company’s chairman Mike Houston said the grade of diamonds recovered in August had improved on the first half of 2020, where grades averaged 3 cpht. The grades were also “well above” the firm’s internal target of 4 cpht.
Greencoat UK Wind PLC (LON:UKW), the leading listed renewable infrastructure fund, invested in UK wind farms, has announced a new share issuance programme to be conducted over the next 12 months through a number of tranches, with the initial placing and initial offer for subscription launching on Thursday. Under the share issuance programme, the FTSE 250-listed company said it may issue up to a maximum of 750 million new ordinary shares over the next 12 months. It added that the net proceeds from the initial tranche are expected to be used to repay amounts drawn under the company’s debt facility agreement. The net proceeds from each subsequent tranche will be used to (i) repay amounts drawn under the facility and/or (ii) apply proceeds to make further investments.
Ferro-Alloy Resources Limited (LON:FAR), the vanadium mining and processing company with operations based in Southern Kazakhstan said it has allotted 6,250,000 ordinary shares of no par value by way of a direct subscription into the company for cash at a price of 8p per share, raising a total of £500,000.
Metal Tiger PLC (LON:MTR) said it has participated in a “significantly oversubscribed” fundraising by Southern Gold Limited, which has raised A$10.2mln. The natural resources investment firm said it has subscribed for 14.5mln new shares in Southern Gold at a price of A$0.12 each for a total of A$1.74mln, the group has also received 7.28mln 2-year warrants with an exercise price of A$0.18 each. Metal Tiger said Southern Gold plans to use the proceeds of the fundraising to execute multiple drilling campaigns on multiple targets in its growing gold-silver project portfolio in South Korea over the next two years.
Power Metal Resources PLC (LON:POW) the AIM-listed metals exploration and development company has announced that Iain Macpherson has stepped down as a non-executive director of the company with immediate effect. Paul Johnson, Power Metals’ chief executive officer commented: “I would like to thank Iain for his contribution to the Company, particularly during the restructuring and refinancing undertaken in February 2019 and subsequently, as we have worked together to build Power Metal into a diverse, well financed and energetic junior resource exploration company. On behalf of the Board I would like to wish Iain well in his future endeavours.”
ImmuPharma PLC (LON:IMM), the specialist drug discovery and development company, has announced that L1 Capital Global Opportunities Master Fund has converted $150,000 (plus accrued but unpaid interest) of the convertible security issued pursuant to the convertible security deed dated June 10, 2020. The conversion price is 11p per share resulting in the issue by the company of 1,045,046 new ordinary shares of 10p each.
Amur Minerals Corporation LON:AMUR), the nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, announced that, under the fixed term loan note agreement entered into with Plena Global Opportunities announced on 12 March 2020, the investor has elected to convert 6,500,000 warrants at an exercise price of 1.43p per share providing the company £92,950. The investor has 4,723,776 warrants remaining. The company repaid the loan note in full on May 4, 2020.
Silence Therapeutics PLC (LON:SLN), a leader in the discovery, development and delivery of novel RNA therapeutics for the treatment of serious diseases, has said its management will present a company overview and host one-on-one meetings during the following four upcoming virtual investor conferences: Wall Street Investor Forum Virtual Conference on Thursday, September 10, 2020, at 12.00pm EDT (5.00pm BST); H.C. Wainwright 22nd Annual Global Investment Conference on Tuesday, September 15, 2020, at 11.30am EDT (4.30pm BST); Morgan Stanley 18th Annual Global Healthcare Conference on Thursday, September 17, 2020, at 12.30pm EDT (5.30pm BST); and Oppenheimer Fall Healthcare Life Sciences & MedTech Summit on Tuesday, September 22, 2020, at 10.00am EDT (3.00pm BST). Live webcasts of the presentations can be accessed via the Investors section of the company’s website at www.silence-therapeutics.com. An archived replay of the webcasts will be available for 60 days on the company’s website after the conference.
SigmaRoc PLC (LON:SRC), the AIM-listed buy-and-build construction materials group, has announced that it will be holding a dedicated 2020 interim results conference call and Q&A session for all investors and analysts at 8.00am on September 7, 2020. To participate in the results call, interest can be registered via the following links URL: https://attendee.gotowebinar.com/register/326962473394652903; Webinar ID: 879-013-771 https://www.gotomeeting.com/en-gb/webinar/join-webinar. Any large investor or analyst wishing to arrange a one to one call with the company, should contact [email protected]
Edison has issued an outlook on Appreciate Group PLC (LON:APPS) following the firm’s recent FY20 results, which were in line with revised guidance. The research house said: “Our modified discounted cash flow (DCF) valuation falls to 60p (from 64p), a level which would represent 22x depressed forecast calendar 2021 EPS, consistent with comparator stocks. To view the full report click here: https://www.edisongroup.com/publication/positioning-for-market-recovery/27642