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Erris Resources more than doubles in value as it hits high-grade gold targets

Erris Resources PLC (LON:ERIS) saw its shares more than double in value at lunchtime, soaring 106.6%..

Erris Resources PLC (LON:ERIS) saw its shares more than double in value at lunchtime, soaring 106.6% to 7p after the explorer reported its “two highest grade gold results to date” at its Loch Tay project in Scotland.

Chief executive David Hall said the results were “highly encouraging” and revealed “a large mineralised system in the Lead Trial and adjacent areas”.

He added that the geochemistry, structure and mineralisation style had led them to believe that the prospects in Loch Tay “have the potential to host significant gold mineralisation”.

Elsewhere in the mining sector, Asiamet Resources Ltd (LON:ARS) climbed 18.4% to 2.9p as it received approval from Bandan Koordinasi Pernanaman Modal, the investment co-ordinating body in Indonesia, for the further exploration permit on its KSK Contract of Work in central Kalimantan.

The exploration permit allows the company to undertake further exploration activity on its key target areas over the next two years.

Meanwhile, Arix Bioscience PLC (LON:ARIX) rose 3% to 85p following news that its portfolio firm Pharmaxis Ltd (ASX:PXS) reported that its PXS-5505 treatment for myelofibrosis bone marrow cancer is “well tolerated with no safety signals” in a Phase 1b clinical study.

Pharmaxis said the trial had demonstrated that the drug “effectively inhibits all enzymes in the lysyl oxidase family that are involved in fibrosis” and that the pre-clinical program, regulatory advice and opinions from leading clinicians supported progression into a Phase 2 study.

11.30am: STM Group banks on recurring revenues to get it through the pandemic period

STM Group PLC (LON:STM), the financial services group, surged 21% to 27.3p after the publication of its full-year results.

Underlying profit before tax in 2019 dipped to £2.6mln from £3.7mln in what was described as “a year of transition”.

The company acknowledged the “unprecedented impact” the coronavirus is likely to have on its business but management said it is confident “that the nature of our annual recurring fees, which are predominantly based on a fixed quantum rather than a percentage of Assets Under Administration ('AUA'), gives a high degree of visibility for the majority of our revenue for the foreseeable future”.

10.30am: Dark Eldar race to resume hostilities against the Angels of Death

Games Workshop Group PLCs (LON:GAW) share price put the hammer down, rising 9.2% to 5,810p after it said it will begin taking online orders again from Friday.

The fantasy and science fiction wargaming systems publisher has begun to slowly restart operations in the shadow of the coronavirus pandemic.

The Warhammer and Warhammer 40k franchises owner said it will also begin to make trade sales in Europe and North America, adding that a small number of its stores have re-opened in China, the Netherlands and Scandinavia in line with local social distancing measures.

9.30am: Universe Group an early star performer after a trading update

Universe Group PLC (LON:UNG), the convenience store and petrol station services provider, climbed 18% to 3.35p in early trade on Tuesday after a trading update pleased investors.

The group said its results for 2019, when they are eventually published, will be in line with expectations, with revenues of £22.4mln, up from £19.9mln in 2018, and adjusted underlying earnings (EBITDA) of £3.9mln, up from £2.6mln the year before.

As for current trading during the coronavirus lockdown, the company said it is important to note that all of its customers are retailers of vital supplies, being food, drink and/or fuel.

Smartspace Software PLCs (LON:SMART) share price rose by nearly 20% to 31p after it said its SwipedOn's visitor screening technology is attracting interest.

The company recently added visitor screening functionality to help customers minimise the threat from the coronavirus pandemic and since the end of last week, it has seen a noticeable increase in new customer enquiries in New Zealand, which recently announced it would relax some of its lockdown restrictions.

Smartspace has also seen similar interest from Australia, another region that is expected to ease lockdown restrictions in the coming weeks and is hopeful that other companies will show increased interest as the countries in which they operate begin to release the shackles.

Proactive news headlines:

Gaming Realms PLC (LON:GMR) has reported reduced full-year losses and higher revenues for 2019 and said that trading for the first quarter of 2020 came in “ahead of expectations”. Posting results for the year ended December 31, 2019, the mobile gambling games firm reported a loss from continuing activities of £4.6mln, down from £5.6mln in 2018, while revenues jumped by 11.5% to £6.9mln.

Rockfire Resources PLC (LON: ROCK) has revealed that results from its January 2020 rock sampling programme have identified a gold-copper-nickel-cobalt-Platinum-palladium anomaly located only two kilometres north of the company's Plateau gold deposit on the Lighthouse tenement in North Queensland, Australia. In a statement, the new anomaly, named Split Rock, is likely to enhance the prospectivity of the immediate vicinity of Plateau. Split Rock shares access tracks with Plateau, enabling minimal mobilisation of rigs between the two prospects.

Sareum Holdings PLC (LON:SAR), the specialist small molecule drug development business, announced that its CEO, Dr Tim Mitchell, will give a presentation at BioTrinity 2020, which will be delivered digitally from April 28 to May 1, 2020. The group said the presentation will provide an update of Sareum's two proprietary TYK2/JAK1 kinase inhibitor programmes, SDC-1801 and SDC-1802, targeting autoimmune diseases and cancers, respectively. Dr Mitchell will also highlight the emerging potential of this mechanism to modulate the severe inflammatory responses and respiratory symptoms arising from coronavirus and other viral infections, it added. The presentation will be made through the BioTrinity virtual portal and will be available to registered participants during the conference and until at least May 9 at And a copy of the presentation will also be made available on the companys website.

ANGLE PLC (LON:AGL) (OTCQX:ANPCY) believes its ground-breaking liquid biopsy system could have a role to play helping guide trials of the next wave of cancer immunotherapies. Its Parsortix system is used to harvest circulating tumour cells. Now ANGLEs scientists are using whats called an immunofluorescence imaging assay to check for programmed death-ligand 1 expression. Known as PDL1, this particular protein helps keep immune cells from attacking non-harmful cells in the body. However, it also allows the cancer cells to trick the immune system and avoid being attacked as foreign. If a PDL1 expression from a patients cancer cells is high, she or he will likely benefit from immunotherapy.

Sure Ventures PLC (LON:SURE) has said that Sure Valley Ventures, in which it holds a 25.9% stake, participated in a €2.2mln (£1.9mln) funding round for a business named Buymie. Buymie has developed a platform which uses artificial intelligence (AI) to allow customers to access large grocery retailers and receive short notice delivery to a chosen destination in less than an hour. The company has signed a multi-year partnership with Lidl Ireland to provide a personalised online grocery service, while consumers are also able to use Buymie to shop from Tesco in the country.

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