TRADING UPDATES: Alba Mineral in Thule asset boost; Nuformix US patent

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(Alliance News) – The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

Alba Mineral Resources PLC – mineral exploration and development company with assets in Greenland and the UK – Reports “significant” exploration target at Thule Black Sands ilmenite project in Greenland. Says independent exploration target of 70.0 million to 300.0 million tonnes of ilmenite at grade of 6% to 11%. “This would represent, at the lower end of the range, an almost three times increase in the current figures for contained ilmenite,” Alba adds.

Nuformix PLC – Cambridge, England-based pharmaceutical firm focused fibrosis and oncology – Gets notice of allowance in US for patent application numbered 17/051,592. The title of patent is “crystalline tranilast salts and their pharmaceutical use”. CEP Anne Brindley says: “I am very pleased that we have received this Notice of Allowance from the US Patent Office meaning that this patent will proceed to be issued. This is an important endorsement of Nuformix’s discoveries and also strengthens the patent estate for our lead asset NXP002.”

Destiny Pharma PLC – Brighton, England-based biotechnology firm – Notes discussions at G7 summit on global threat of antimicrobial resistance. “Destiny Pharma has been focused for many years on developing novel medicines from its XF platform that specifically address the AMR threat through the XF platform’s unique mechanism of action which can provide safe, effective and fast acting treatments that do not generate resitance,” Destiny says.

Arecor Therapeutics PLC – Saffron Walden, England-based biopharmaceutical firm – Signs formulation study with Par Sterile Products LLC. Arecor will use proprietary formulation technology platform Arestat to help develop single dose formulation of an existing Par product.

Omega Diagnostics Group PLC – sells wide range of specialist products, primarily in the immunoassay, in-vitro diagnostics market – Updates on UK government Covid-19 test manufacturing contract. Says waiting for UK confirmation on what test it will manufacture. “Omega is not in control of this process and this is taking longer than originally expected but the company will provide a further update once a test is confirmed. The ability to supply tests that are produced within the UK remains a key priority for the [Department of Health & Social Care] and to that end the DHSC have facilitated initial commercial discussions between Omega and potential partner companies with lateral flow antigen tests to potentially provide UK manufacturing services,” Omega adds.

Landore Resources Ltd – Canada-focused minerals explorer – Says drilling in areas below and east of Bam gold project, Canada reported “wide zones of ore grade gold mineralisation”. Chief Executive Bill Humphries says: “These encouraging results from relatively shallow intersections in the hanging wall of the extended east pit, together with the recently reported high grade drill intersections in the footwall, give promising indications of a substantial increase in the resource of the BAM gold deposit.”

Alien Metals Ltd – iron ore and silver projects in Australia and Mexico – Receives results from maiden drilling programme at Hancock iron ore project, Australia. Results confirm four “high grade direct shipping ore mineralisation prospects”, Alien adds.

Adriatic Metals PLC – developing Vares silver project in Bosnia & Herzegovina – Secures exploration permit of concessions granted last year at Vares. Allows drilling and channel sampling to commence, Adriatic adds.

Ferro-Alloy Resources Ltd – developer of Balasausqandiq vanadium deposit in Kazakhstan – Initial investment from Vision Blue Resources completed. “The company has now received the further investment of USD1.6 million in addition to the investment of USD1.5 million already made, bringing the total invested by Vision Blue and its coinvestors to date to USD3.1 million,” company says.

AEX Gold Inc – Greenland-focused gold miner – Says team of geologists and drilling engineers arrive at Nalunaq project, Greenland. Team is there to “to further develop the company’s understanding of the area to the south west of the deposit,” AEX adds.

Panther Metals PLC – company focused on mineral exploration in Canada and Australia – Applies to acquire two tenements, E39/2249 and E39/2250, as part of expansion programme at Red Flag nickel and cobalt asset.

Challenger Energy Group PLC – Caribbean and Atlantic margin focused oil & gas company – Granted three month extension to report results for year ended December 31, 2020. Expects to publish results by September 30.

Accsys Technologies PLC – wood building products manufacturer – Receives notice from Engie Fabricom UK Ltd to terminate engineering, procurement and construction agreement at Tricoya plant in Hull. Accsys says termination notice down to “force majeure arising out of the Covid-19 pandemic and stating that they plan to demobilise over the next two weeks”. Accsys adds: “The purported termination may now result in Tricoya UK taking over earlier than previously anticipated the completion of the final stages of construction and subsequent commissioning. This may be with or without assistance of a new lead contractor given the advanced status of the project.”

Windar Photonics PLC – London-based developer of wind sensors for electricity generating wind turbines – In four year development project focused on drone based emission detection system. “The development project, which brings together five private companies and the Technical University of Denmark, has a total budget of EUR2.2 million and is backed by a public grant of EUR1.7 million from the Innovation Fund Denmark, under its Grand Solutions programme,” Windar adds.

Tungsten Corp PLC – digital financial management products and software solutions provider – Picked by “global human resources software leader” to support its e-invoicing plans in Europe and US. “The customer’s 16 European entities will use Tungsten’s Total AR solution to streamline and digitise its accounts receivable processes. In the US, the solution will allow the customer to send invoices to its customers via the Tungsten Network, eliminating manual invoice entry systems,” Tungsten adds.

Blue Star Capital PLC – esports, payments and technology focused investor – Investee SatoshiPay receives research and development grant from Stellar Development Foundation. “In its blog, SatoshiPay advises that the Stellar Foundation grant will be used to kickstart the development of the Pendulum network project and develop a proof-of-concept implementation of Pendulum,” Blue Star says.

Seeing Machines Ltd – Canberra-based driver-monitoring technology company – Notes US 21st Century Smart Cars Act. “These developments in the US are completely aligned to Seeing Machines’ view that [mandatory driver monitoring system] is fundamental to the automotive transport sector and that the fitment rate will accelerate substantially over the coming years, globally. Seeing Machines is currently working with all major US automotive manufacturers to deliver its industry-leading technology, with some of these vehicles already in production and on sale to consumers today, fitted with camera-based DMS,” company says.

UniVision Engineering Ltd – Hong Kong-based supply, design, installation and maintenance of closed circuit television and surveillance systems – Deal for Chair Stephen Koo to sell 201.0 million shares, 52.4% stake, in UniVision to SinoCloud Group Ltd will not proceed. “The proposed transaction had been subject to a number of pre-conditions. The parties have held various discussions since the signing of the MOU, but these discussions did not produce a definitive agreement within the three-month exclusivity period contained in the MOU,” company adds.

Centaur Media PLC – business information, events and marketing provider – Says Jane Wilkinson to succeed Andy Baker as managing director of The Lawyer, Centaur’s unit which provides business intelligence to UK legal market. Baker steps down on July 31, Wilkinson takes up role on August 2. “In her role as managing director, Jane Wilkinson will bring deep expertise in subscription revenue modelling and leading businesses in times of digital and data transformation. She will be responsible for developing The Lawyer’s customer-centric approach and building on its recent transition into a multi-channel digital platform as part of Centaur’s MAP23 strategy,” company adds.

By Eric Cunha; ericcunha@alliancenews.com

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