Proactive news snapshot: ReNeuron, Metal Tiger, i3 Energy, Kodal Minerals …
ReNeuron Group PLC (LON:RENE) said it was in ongoing discussions with “commercial third parties” interested out-licence deals across all its programmes. The update came alongside the stem cell specialists interim results, which showed it made significant operational and financial progress in the six months to September 30.
Metal Tiger Plc (LON:MTR) noted that Kalahari Metals Limited, in which it has a near 60% stake, has provided an encouraging drilling update from its Okavango Copper Project in Botswana. It has completed six holes for a total of 1,656 metres, which successfully proved the existence of the of DKar and Ngwako Pan formations that are prospective for both copper and silver. Hole OCP06 intersected two wide zones, totalling 85 metres, with visible copper-sulphide mineralisation.
i3 Energy PLC (LON:I3E), an independent oil and gas company with assets and operations in the UK, announced that further to its announcement of 8 November 2019, it is expecting to complete the subscriptions for 14,285,715 new ordinary shares in the company at 35p each from funds managed by Bybrook Capital LLP shortly.
Kodal Minerals PLC (LON:KOD), which is developing the Bougouni Lithium project in southern Mali, intends to lodge a mining licence application as soon as possible, with a view to having a fully permitted project in the first half of 2020.
Summit Therapeutics PLC (LON:SUMM, NASDAQ:SMMT) has unveiled a US$50mln funding deal with biotech billionaire Bill Duggan that will get the companys next-generation antibiotic through phase III clinical trials. It will also give Duggan, who is buying 166mln newly minted shares for 22.1p each, a controlling 72.8% stake in the business. He already owns 49% of Summit having invested US$25mln just under a year ago.
Tremor International Ltd (LON:TRMR) has extended its partnership with TV data and measurement business Alphonso for two years, as it enhances its video advertising offering, helping companies “retarget” TV adverts across other video devices like mobiles and laptops. The AIM-listed company said it had agreed the extension so that it would continue receiving data collected by Alphonso, whose viewership data has allowed Tremors clients to target specific audiences in real-time based on their demographics and viewing habits for the past four years.
Life sciences group OptiBiotix Health PLC (LON:OPTI), has entered into three new exclusive distribution agreements relating to its SlimBiome and GoFigure products, extending its reach in Poland, Malaysia and Singapore.
Base Resources Limited (LON:BSE, ASX:BSE) confirmed the details of its recently updated ore reserves estimate for the Ranobe deposit, part of the Toliara project in Madagascar. The project now has 586mln tonnes of ore with an average heavy mineral grade of 6.5%, giving some 38mln tonnes of in-situ minerals. This is consistent with the mineral resources assumptions underpinning the pre-feasibility study, the company said in a statement.
Kibo Energy PLC (LON:KIBO) has completed the first stage of the restructuring of its Mabesekwa thermal power station project (MCIPP) in Botswana. Shareholder agreement has been received for a reduction in its holding in Kibo Energy Botswana (KEB) to 35%. KEB is the holding company for the 76mln tonnes (1Mt) coal resource at Mabesekwa. The remaining agreements are scheduled to be completed by 20 March next year.
Providence Resources PLC (LON:PVR) has announced that Tony OReilly has resigned from his position as chief executive of the Irish energy firm with immediate effect. Chairman Pat Plunkett will cover the executive function on a temporary basis whilst the company recruits a long-term replacement.