NYSE-listed Newmont and Agnico will jointly assume and advance Newmont’s prior rights and obligations to carry out exploration at the project, with Agnico acting as operator.
“To now have two of the world’s top 10 gold miners (combined production of over 7.5 million ounces per year) investing in our project is testament to its potential and we look forward to an eventful year,” said Orosur chief executive Brad George.
11.30am: Hawkwing zooms up after raising cash at a premium
In fact, the cash shell, which sold its Australian sports management and marketing agency last year, has also moved from AIM to the standard listing segment of the main market.
The proceeds will be used to acquire technology companies that provide solutions for specific industries such as digital marketing, medical applications, business and financial services and the sports sector.
10.30am: IDE Group tumbles on full-year results warning
IDE Group Holdings PLC (LON:IDE) tumbled 27% to 1.28p in mid-morning after warning revenue and underlying earnings (EBITDA) will be lower in the second half of the financial year due to uncertainty around the timing of certain contracts and projects.
The IT provider expects to have sufficient cash resources throughout the forecast period, however the levels of cash fluctuate and at times in the forecast period are relatively low and it may end up requiring additional funding.
The AIM-listed firm announced further job cuts due to the decrease in certain service lines as a result of the pandemic.
Meanwhile, Trafalgar Property Group PLC (LON:TRAF) slipped 14% to 0.14p after admitting its recent move into the assisted living sector has not proved to be a success.
The firm is now concentrating on its core activity of property development for residential homes and apartments.
Sales of completed units have been delayed by some months since the start of the pandemic, however the construction had been completed, though there were also delays in getting planning permission for other potential new sites.
9.20am: Diurnal Group shoots up on US approval for Alkindi Sprinkle
Diurnal Group PLC (LON:DNL) shot up 15% to 76.16p early on Wednesday after announcing the US Food and Drug Administration approved Alkindi Sprinkle as replacement therapy for children with adrenocortical insufficiency (AI).
AI is a condition in which the adrenal glands do not produce adequate amounts of steroid hormones, primarily cortisol.
The firm partnered with Eton Pharmaceuticals to commercialise the drug in the US, while it has already launched in Europe.
Iconic Labs said this collaboration allows it to be well positioned to become industry leaders in the cookieless advertising space and future proof this part of the media company’s business.
Glimpse Protocol will benefit from Iconic Labs advertising experience and access to multiple platforms, including to trial their technology.
Proactive news headlines
Iconic Labs PLC (LON:ICON) has unveiled a commercial partnership agreement with Glimpse Protocol, a provider of advanced technologies to Ad-tech. The media company said this collaboration allows it to be well-positioned to become industry leaders in the cookieless advertising space and future-proof this part of its business.
Sensyne Health PLC (LON:SENS) chief executive Lord Drayson said the wider adoption of clinical artificial intelligence (AI) and remote patient monitoring during the pandemic “underlined the growth potential that our model can deliver”. He was speaking following the publication of preliminary results that showed that Sensyne was gaining significant commercial traction for its model.
Zoetic International PLC (LON:ZEO) appears to have emerged from a transitional year in a strong position with its branded cannabidiol (CBD) line registering significant early growth. The sale of legacy oil and gas assets has allowed the team to focus on the core business and the consumer reaction to the company’s CHILL tobacco-free CBD ‘smokes’ and CBD chew pouches products has “exceeded expectations”, investors were told.
ImmuPharma PLC (LON:IMM) has posted a reduced loss in the first half of its current year despite disruptions caused by the coronavirus (COVID-19) pandemic as it continued to focus on progressing its Lupuzor lupus treatment.
S&U PLC’s (LON:SUS) chairman Anthony Coombs has highlighted a “very encouraging” rebound in the company’s trading following the UK’s pandemic lockdown and there were “significant opportunities” to attract new customers and increase market share going forward.
Minds + Machines Group Limited (LON:MMX) is expecting a stronger second half as the recovery from the pandemic-related impacts continue. The website domain company, in its interim results statement, noted that its business is traditionally second-half weighted and it is expecting both revenues and earnings (operating EBITDA) to be ahead of the first half.
City Pub Group Plc‘s (LON:CPC) executive chairman has warned that the chancellor’s Winter Economy Plan isn’t suitable for the pub sector and will result in significant job losses. “The current package of support simply does not go far enough stave off immediate and permanent damage to an industry that pays significant tax and employs 10% of the UK’s workforce,” Clive Watson said in a statement with the group’s interim results.
NQ Minerals PLC (AQSE:NQMI)(OTCQB:NQMLF)(OTCQB:NQMIY) generated sales of GBP15.6mln during the six months to June 2020. Pre-tax losses amounted to GBP18mln, after GBP14mln in financing costs were added to selling and distribution expenses and administrative costs.
W Resources PLC (LON:WRES) said although the coronavirus pandemic has had an affect, production is building at its La Parilla mine as it starts to reap the benefits of operational improvements. Production in the first six months of 2020 reached 106.5 tonnes of tungsten concentrate and 64.5 tonnes of tin concentrate, resulting in half-year revenues of GBP1.01mln compared to GBP0.29mln in the same period last year.
Trident Royalties (LON:TRR) generated revenue of just under US$949,000 during the six months to June 2020, as its newly established royalty portfolio started paying out. The company lost just over GBP1mln before tax. Since listing on Aim in March, Trident has announced five transactions comprising a total of eight royalties.
Amur Minerals Corporation (LON:AMC) continues to push the Kun Manie mine project closer to ‘bankable’ status with the key Russian TEO report now said to be “very nearly complete”. Technical studies produced for the TEO – the Russian equivalent of a feasibility study – will feed directly into the next step, the mine’s bankable feasibility study (BFS).
Panther Metals PLC (LON:PALM) returned a loss for the six months ended 30 June 2020 of GBP388,126. During the period the companies net assets rose from GBP414,000 as at the end of December to nearly GBP1.1mln.
Block Energy PLC (LON:BLOE) said it expects gas sales to commence in the fourth quarter from West Rustavi despite the coronavirus pandemic proving “very hard to predict”. The firm said gas purchaser Bago is completing the final stages of the permitting process to enable it to construct its gas sales pipeline, which they expect to have completed later this year.
Tower Resources PLC (LON:TRP) chief executive Jeremy Asher highlighted that the company remains excited about the Thali project in Cameroon, as well as projects in Namibia and South Africa. “These are challenging times, but we do believe that we will surmount these challenges,” Asher said in the company’s interim results statement.
SIMEC Atlantis Energy Ltd (LON:SAE) told investors that it has maintained a high level of activity across each of its business units in the first half of the year. The renewable energy pioneer said in its interim results statement that it continues to see encouraging progress on all its key projects notwithstanding the operational challenges presented by COVID-19 social distancing restrictions.
Itaconix PLC (LON:ITX, OTCQB: ITXXF), the sustainable polymers group, said it had the “commercial momentum and operations in place for continued strong revenue growth”, after sales rose 46% last year and net losses decreased by 86%.
Immotion Group PLC (LON:IMMO) has reported a narrower loss in its first half while the provider of ‘out-of-home’ virtual reality (VR) experiences also highlighted encouraging levels of trading at its sites that have re-opened following lockdowns in several countries during the coronavirus pandemic.
Zanaga Iron Ore Company (LON:ZIOC) said the permitted sale period for the first tranche of the company’s shares issued pursuant to the share subscription by Shard Capital has been extended by three months. As previously announced, of the 7mln shares issued to Shard Capital under the first tranche of the agreement, roughly 5mln have been successfully placed by Shard Capital as at September 28, 2020.