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Proactive news headlines: Base Resources, Strategic Minerals, IXICO, Clipper Logistics …

Base Resources Ltd (LON:BSE) booked revenue of US$208mln during the year ended June 30, 2020, and ha..

Base Resources Ltd (LON:BSE) booked revenue of US$208mln during the year ended June 30, 2020, and has declared a maiden dividend of A$0.035per share. The company said its mineral sands mining operation at Kwale in Kenya maintained operational continuity during the coronavirus crisis and achieved the upper end of production guidance. Ongoing firm demand supported price improvement for ilmenite and rutile and helped deliver overall net profits after tax of US$39.6mln. The company also continued working on its Toliara development project in Madagascar.

Strategic Minerals PLC (LON:SML) has appointed London-based Natural Resources Global Capital Partners Limited to provide strategic and financial advice regarding advancing the Redmoor tin and tungsten project. NRG is an independent advisory firm and merchant bank focused on the global metals and energy industries. NRG has undertaken an encouraging initial review of the project and is focusing on the inherent value and how best to demonstrate this to potential joint venture partners. Theoretical analysis has identified that a revised mining schedule, focused on initially targeting the higher-grade material identified in the latest drilling programme, may offer the potential for a superior internal rate of return, enhancing project economics and improving the attractiveness of the project to potential investors.

IXICO PLC (LON:IXI), the data analytics company focused on neuroscience, has raised earnings expectations for the current fiscal year. The company is benefiting from continued operational leverage, generated by revenue growth and investments made to drive scale and efficiency, it said in a trading update. The board expects revenues for the year to the end of September 2020, to be in line with, or slightly ahead of, current market expectations, representing growth of more than 20% compared to the prior year. Underlying earnings (EBITDA) are expected to be materially ahead of current market expectations.

Powerhouse Energy Group PLC (LON:PHE) told investors that Peel L&P it has completed on-schedule the engineering definition work for the DMG plant at Protos Energy Park, in Cheshire. The work allows contractors to now price their contracts for constructing the plant and the associated on-site buildings, and it has also provided the project with further technical and commercial validation. The milestone represents a significant step towards plant construction commencing in the fourth quarter and will facilitate progress to finalising project financing.

Clipper Logistics PLC (LON:CLG) said it expects results for its current year will “comfortably exceed market expectations” after reporting “exceptionally high demand” for its e-fulfilment and returns management services. In an outlook statement accommodating its results for the year ended April 30, 2020, the company said it had experienced a “very positive start” to its current financial year, with an annualised revenues of its probability-weighted pipeline standing at over £50mln, a “significant increase” on the same period last year. The upbeat outlook accompanied a strong set of full-year results, with Clipper reporting that revenues reached a record level of £500.7mln, up 8.8% year-on-year, while earnings (EBIT) climbed 19.1% to £24.1mln.

Catenae Innovation PLC (LON:CTEA), the AIM-quoted provider of digital media and technology, announced that Markops Limited, the group's newly appointed marketing agency, has, subject to annual general meeting (AGM) headroom approval, converted £12,500 of credit with the company for services rendered. If the requisite AGM resolution is passed, this will result in 342,465 ordinary shares in the company being issued to Markops at a price of 3.65p per ordinary share. The company also announced that its AGM will be held on Friday, 25 September 2020 at 12 pm at the offices of the offices of Goodman Derrick LLP at 10 St Bride Street, London EC4A 4AD. There will be a Q&A following the AGM using the Zoom Conferencing Platform, details of which will be circulated with the AGM notices that will be sent to shareholders and will also be made available on the company website. Guy Meyer, chief executive officer of Catenae commented: "We are pleased that our newly appointed marketing agency, Markops, has chosen to take a stake in the business, which highlights its confidence in the future prospects of the Company and aligns itself with our strategy. The team at Markops is instrumental in the repositioning of Catenae's business and brand and is helping to inject value into our product set, as well as introducing the Company to their corporate networks. We also look forward to our AGM following which, the Board will host a Q&A for our investors where there will be an opportunity to engage in, what I expect to be, productive discussions."

Tiziana Life Sciences PLC (LON:TILS) (NASDAQ:TLSA) has received a US patent for its TZLS-501 antibody technology being developed to treat the life-threatening effects of the coronavirus (COVID-19). Protection has been granted around the “methods and use” of anti-IL 6 and IL-6 receptor monoclonal antibodies for both protective (prophylactic) and therapeutic use. The grant of this additional patent on TZLS-501 is of “particular significance” for the potential treatment of COVID-19 and other pulmonary diseases such as acute respiratory distress syndrome, the company said. In the case of COVID, the treatment offers the promise of providing immediate respite if the drug is inhaled directly using a handheld nebuliser.

Blackbird Plc (LON:BIRD) revealed that its cloud video editing platform was selected by production company Live X for use at the US Democratic National Convention, which was held from Monday to Thursday last week. The AIM-listed firm said Live X had chosen its platform to rapidly produce video content in the cloud during the convention, with the Live X media production team using Blackbirds technology to “remotely and safely to edit and enrich live, engaging content from the convention and publish it ultra-fast to social media platforms including Twitter, Facebook, YouTube and Instagram”. Blackbird also said it had been used to make content rapidly available to media partners for re-purposing to multiple platforms and channels.

Tissue Regenix Group PLC (LON:TRX), the regenerative medical devices company, has entered into a UK distribution agreement for its OrthoPure XT knee ligament product. The distribution agreement, which comes with its first UK order for OrthoPure XT, is with a speciality supplier of orthopaedic and biologic products. The distributor was not identified but Tissue Regenixs interim chief executive officer (CEO), Gareth Jones described the party as “an ideal partner to support the commercialisation of OrthoPure XT in the UK”.

EQTEC PLC (LON:EQT) has agreed a deal to sell Pluckanes wind farm in County Cork, Ireland for €1.1mln gross, with a maximum net cash consideration of €383,503. In a statement, the company said the sale is in accordance with its previous decision to focus solely on being the technology partner for waste-to-value applications. Proceeds will be used for general working capital. The deal, struck on a debt-free/cash-free basis, will see €778,765 transferred by the buyer in settlement of a debt owing by the company to an Irish bank, additionally, a €157,468 intercompany debt is being repaid to the group by the buyer.

FastForward Innovations Ltd (LON:FFWD), the AIM-quoted company focusing on making investments in fast-growing and industry-leading businesses, has noted the announcement from Vivo Gaming that it has entered into an agreement with FastForward's investee company Fralis LLC, which will see Vivo add Leap Gaming to its third-party games portfolio. Vivo Gaming is an innovative company specializing in bringing emerging technologies into the online gaming industry with 15+ years of live dealer and B2B experience. FastForward has a 43.4% interest in Leap Gaming.

AEX Gold (LON:AEXG) has mobilized its workforce in Greenland, with the site fully staffed since August 15, 2020. The company plans extensive exploration work in Greenland ahead of planned underground development work, which is scheduled for 2021. The current programme includes 3,000 metres of surface drilling at the Nalunaq project, including infill drilling, surface geological mapping, and underground mapping and channel sampling. In addition, AEX will commence pre-development activities at Nalunaq ahead of camp construction and underground development activities, which will commence in 2021.

Remote Monitored Systems PLC (LON:RMS) said it has agreed to acquire Pharm2Farm Limited, a firm developing crop nutrition products and a nanotechnology-enabled anti-viral face mask. In an announcement on Friday afternoon, AIM-listed Remote Monitored Systems said it will acquire the group through the issue of 600mln new shares, equating to around £2.37mln based on its closing price last Thursday of 0.375p. Braveheart Investment Group PLC (LON:BRH), which owns around 51.7% of Pharm2Farm, will receive 310.3mln shares in the transaction, while the firms founder Gareth Cave, who owns the remaining shares, will receive 289.6mln.

Sunrise Resources PLC (LON:SRES) has agreed to raise up to £1mln of new equity. The companys broker Peterhouse Capital has arranged a £750,000 placing – with 267.8mln shares being sold at 0.28p – and a further broker offer option could see an additional £250,000 raised at the same placing price. Proceeds are earmarked for the continuing development of the CS Pozzolan-Perlite Project in Nevada, along with initial drill work across the companys gold and silver projects.

Jubilee Metals Group PLC (LON:JLP) has executed a deal that sees the company become operator of a project to recommission and restart a chrome beneficiation plant in South Africa. The plant is located adjacent to Jubilees Inyoni tailings operations and the deal is a processing agreement which is backed by a guaranteed supply of a minimum of 40,000 tonnes per month, which could rise to 80,000 tonnes per month. The resultant PGM containing tails will be processed by Jubilee at the Inyoni PGM recovery plant.

Shanta Gold Ltd (LON:SHG) booked revenue of US$73mln from gold production at its mine in Tanzania during the six months to June 30, 2020, up from the US$53.6mln booked in the corresponding period in 2019. All-in sustaining costs ran at US$817 per ounce. Profit before tax was US$15.3mln. The company also moved into a net cash position, with cash at period end amounting to US$2.1mln.

Verona Pharma PLC (LON:VRP, NASDAQ:VRNA) has said it is to present to a leading industry conference data from a phase IIb trial of its drug candidate for chronic obstructive pulmonary disease (COPD). Delegates at the virtual European Respiratory Society International Congress will be provided subgroup analysis from Veronas phase IIb trials of nebulised ensifentrine. The data was first reported in January and March this year. It demonstrated the drug improves lung function in moderate to severe COPD patients regardless of smoking status or history of chronic bronchitis over four weeks.

Metal Tiger PLC (LON:MTR) has noted that Southern Gold Ltd, a company in it owns an approximate 17.1% equity interest has published an update with regard to it entering into a strategic partnership agreement with Ausino Drilling Services Pty Ltd in support of the delivery of mineral exploration drilling services in South Korea. Highlights of Southern Golds announcement include a legal agreement executed to support the provision of drilling services on the companys South Korean assets to the value of US$4.4mln and the issue of A$1.1mln worth of Southern Gold shares as incentives to meet certain targets.

Shareholders in Kalahari Minerals Ltd, in which Metal Tiger PLC holds a 62.17% interest, have entered into a binding heads of agreement with Cobre Ltd (ASX:CBE), in which Metal Tiger has a 18.79% interest, under the terms of which Cobre will acquire up to 51% of Kalahari Metals. Assuming completion of all the various stages of the transaction, Metal Tiger will be interested in approximately 20.72% of Cobre and would have an economic interest in Kalahari Metals of approximately 59.57%, comprising a direct interest of 49% and an indirect interest of 10.57%.

Woodbois Ltd (LON:WBI), the African-focused forestry and timber trading company, has ranked third in the Sustainability Policy Transparency Toolkit (SPOTT) ESG policy transparency assessments for the worldwide timber and pulp industries. SPOTT, the online platform created by the Zoological Society of London, annually assesses multiple worldwide timber and pulp producers and traders on the public disclosure of their policies, operations and commitments to Environmental, Social and Governance best practice. Woodbois was recognised as the highest-ranked public company.

Ashley House PLC (LON:ASH), which on July 30 advised that a Company Voluntary Arrangement (CVA) was being proposed and a creditors' meeting followed by a members' meeting arranged to vote on it, has said that due to ongoing discussions around proposed amendments to the proposals, the meetings have again been adjourned and are now rescheduled for Wednesday August 26 at 10.30am and 12.00pm respectively. The company said it will update the market once the meetings have been concluded.

Bahamas Petroleum Company PLC (LON:BPC), the Caribbean and Atlantic margin focused oil and gas company, with exploration, production, appraisal and development assets across the region has announced that, further to the completion of the recent merger with Columbus Energy Resources Leo Koot has been appointed to the groups board as a non-executive director, with immediate effect. Koot has over 31 years' experience in the Energy sector and has a Master's in Petroleum Engineering and a business accreditation from Harvard Business School. During hisRead More – Source




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