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Proactive news snapshot: Clinigen, Europa Metals, Collagen Solutions, Base Resources …

Collagen Solutions PLC (LON:COS) has revealed it is in discussions with a “number of parties” as it ..

Collagen Solutions PLC (LON:COS) has revealed it is in discussions with a “number of parties” as it confirmed it will conduct a “formal review of its strategic options”. “These options include, but are not limited to, the potential sale of the company or the sale of one or more of the company's assets,” the group added in a statement. The company said it has appointed Goodbody Stockbroker as joint financial adviser alongside England and Company and is inviting would-be buyers to lodge indicative offers by 5pm on May 15.

Clinigen Group PLC (LON:CLIN) said there had been only “marginal disruption” to its business against the backdrop of the coronavirus lockdown as it unveiled a new licensing a distribution deal. The pharma and services group has signed a global agreement with Porton Biopharma for the drug Erwinase/Erwinaze. The treatment has been developed for people with acute lymphoblastic leukaemia who have developed hypersensitivity to E. coli-derived asparaginase.

Europa Metals Ltd (LON:EUZ), the lead-zinc and silver projects developer, has hailed high-grade recovery results from the second phase metallurgical testing at its Toral project. The key findings of an updated independent metallurgical report on the project, situated in the Castilla y León region in north-west Spain, included 83.7% lead (Pb) recovery to a 60.0% Pb concentrate; 87.1% silver (Ag) recovery to 1,350 parts per million (ppm) Ag within Pb concentrate; and 77% zinc (Zn) recovery to a 59.1% Zn concentrate. The results demonstrate the potential for high-grade saleable and marketable Pb and Zn concentrates, Europa said, and were at the higher end of managements expectations.

Base Resources Limited (LON:BSE) has told investors that operations at the Kwale project in Kenya continue uninterrupted, with procedures in place to minimise the coronavirus (COVID-19) risks to its personnel and communities. In a quarterly update, the company highlighted production increases from prior quarter across all products. It also noted ongoing demand from customers, with ilmenite and rutile prices continuing to strengthen in the quarter. Base said it is maintaining its production guidance for 2020.

Stobart Group Ltd (LON:STOB) has confirmed it is in talks with the administrators of Connect Airways about possibly acquiring Stobart Air and Propius. Dublin-based Stobart Air and aircraft leasing business Propius were both sold by Stobart Group last year as part of the formation of Connect with Virgin Atlantic and Cyrus Capital that also saw the acquisition of FlyBe.

City Pub Group Plc (LON:CPC) said it has raised £7mln through the open offer to existing shareholders announced at the end of March. It adds to the £15mln raised through a share placing completed at the time of that announcement. The pubs operator said the £22mln will strengthen its balance sheet after the coronavirus pandemic forced the closure of its pub estate, with net debt to be cut by two thirds.

Vast Resources PLC (LON:VAST) said it has raised £600,000 in a share placing to maintain working capital ahead of the anticipated conclusion of its Chiadzwa Community Diamond Concession joint venture in Zimbabwe. The AIM-listed firm said it raised the funds through a placing of around 392.1mln shares at a price of 0.153p each, a 10% discount to its closing price on Wednesday. Meanwhile, Vast also reconfirmed that equipment shipping from China remained on track and all equipment critical for the start of production at its Baita Plai project was now on the water.

FastForward Innovations Limited (LON:FFWD) has announced that a portfolio company of its investee company Portage Biotech has entered clinical trials for its lead candidate to treat solid cancer tumours. The group noted that Portage Biotech – in which FastForward holds 1.18% stake – said that Intensity Therapeutics will evaluate the safety and efficacy of INT230-6 when dosed in combination with Yervoy, a treatment developed by its partner Bristol-Myers Squibb Co (NYSE:BMY).

Arix Bioscience PLC (LON:ARIX) announced that its portfolio company Autolus Therapeutics has received the green light for AUTO1, its lead candidate for the treatment of lymphoblastic leukaemia. The approval by the US Food and Drug Administration allows the first study on AUTO1 to begin.

Keywords Studios PLC (LON:KWS) has said a surge in video game playing as a result of the coronavirus pandemic is driving “increased demand” for its development services. In an outlook statement accompanying its final results, the AIM-listed firm also said trading in 2020 had started “in line with market expectation” and that it had only suffered a “limited impact” on its business from the outbreak.

Learning Technologies Group PLC (LON:LTG), the digital learning specialist, said it has yet to see a material impact on its trading performance from the coronavirus (COVID-19) pandemic. In its results statement covering 2019, the company said the current financial year has started well and it expects 2020 revenues to be largely unaffected by the global economic upheaval, although new business wins may be delayed and payment periods may be extended.

Woodbois Limited (LON:WBI) has reported a 10% year-on-year rise in revenues to US$4.9mln in its first quarter, highlighting “no discernible slowdown in demand” for its timber and forestry services. In an update on Thursday, the AIM-listed group said the first full quarter of production at the newly re-tooled sawmill in Gabon saw production increase by more than 100% over the previous quarter, with recovery levels of 40%, higher than the 34% average for 2019.

Kodal Minerals PLC (LON:KOD) has told investors that its exploration permits have been renewed for the Dabakala and Korhogo gold properties in Côte d'Ivoire. Each has been extended for an extra three years, expiring in April 2023, the group said.

Haydale Graphene Industries PLC (LON:HAYD) said it has sufficient reserves to adequately manage the anticipated impact of the coronavirus (COVID-19) outbreak. In a statement, Haydale said its directors are taking prudent steps to preserve the companys cash position as it is seeing a slowdown in a number of its markets, particularly in the US where demand for Haydales Silicon Carbide blanks has been indirectly affected by the huge reduction in air travel, which has compounded the ongoing impact of the slowdown at one of the major US manufacturers in the aviation industry.

Metal Tiger PLCs (LON:MTR) has noted that its part-owned associate Cobre has published assay results confirming the presence of high grade mineralisation at the Perrinvale project, in Western Australia. It said Cobres results, from the Schwabe prospect, indicate a high-grade VHMS system containing primary copper, zinc, gold and silver at shallow depth. Metal Tiger owns a 19.99% interest in Cobre Limited.

Tlou Energy Ltd (LON:TLOU) told investors it can constructively advance project finance efforts whilst on-the-ground access in Botswana is restricted amidst the coronavirus (COVID-19) pandemic. In a quarterly update, the company said that “discussions with potential project finance partners progressed during the quarter with the company evaluating debt or equity funding or a mix of both." It added: “Tlou's objective is to source the lowest cost of capital with the least risk going forward.”

Capital Drilling Ltd (LON:CAPD) has revealed positive results for the first quarter of 2020, as it also noted that its operations remain “largely unaffected” by the coronavirus pandemic. The drill contractor for the mining industry generated some US$32mln of revenue in the quarter, up 20% from the same period in 2019, and up 5.9% from the preceding three month period.

Gore Street Energy Storage Fund PLC (LON:GSF), London's first listed energy storage fund, has announced that pending completion of certain bank administration requirements, Sanne Limited has been appointed to provide administration and accounting services to the company. It added that JTC (U.K.) Limited continues to provide company secretarial services to Gore Street in accordance with its existing contract, as amended on April 14, 2020.

Kavango Resources PLC (LON:KAV), the exploration group targeting the discovery of world-class mineral deposits in Botswana, announced it has reached an agreement with certain directors and managers for the settlement of arrears of remuneration by the issue oRead More – Source




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