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Breakfast News - Prairie Mining, SkinBio Therapeutics, Egdon Resources and more....

Published: 19:22 03 Apr 2018 AEST

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AIM:

Total number of AIM Companies (Incl Susp):

948*

Total number of AIM Companies trading:

898*

*as at close of business 29 March 2018

Standard List**  of Main Market:

Total number of Standard List Companies

(Incl Susp):

136*

Total number of Standard List Companies trading:

123*

*as at close of business 29March 2018

 

NEX Growth Market:

Total number of NEX Growth Market Companies (Incl Susp):

89*

Total number of NEX Growth Market Companies trading:

83*               

*as at close of business 29 March 2018

  *A corporate client of Hybridan LLP

**  Standard Listing as defined by Hybridan LLP to be a business with strictly operational activity



 
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What’s cooking in the IPO kitchen?

AIM

Perfomatrix PLC, a global end to end Performance Marketing technology and services company headquartered in the UK, is looking to join AIM in early April 2018. IPO Cancelled

Crusader Resources, an ASX-listed public company incorporated in Australia, which is primarily focused on the exploration and development of gold assets in Brazil. POSTPONED

SimplyBiz, a Financial Services Firm, looking to join AIM raising £30m via placing and £34.6m via a sale of existing ordinary shares at 170p giving a market cap of £130m. Expected 4 April

Main Market Premium Listing

Gore Street Energy Storage Fund—Seeking to raise £100m for the purposes of investment in a diversified portfolio of utility scale energy storage projects.  Due 12 April.

Odyssean Investment Trust—Raising £100m at £1. Due 1 May. The Company will primarily invest in smaller company equities quoted on markets operated by the London Stock Exchange.

Report in the press that AMC is seeking to spin off Cinema Chain ODEON

 
Breakfast buffet

Prairie Mining (LON:PDZ) 36.88p £61m

Update on Jan Karski concession.

“As of the date of this announcement the MoE has not made available to Prairie a Mining Usufruct Agreement for Jan Karski, therefore breaching the three month obligatory period for the agreement to be concluded. Legal advice provided to Prairie concludes that failure of the MoE [Poland’s Ministry of Environment] to grant Prairie the Mining Usufruct Agreement is a breach of Polish law. Accordingly, the Company has now commenced legal proceedings against the MoE through the Polish courts in order to protect the Company's security of tenure over the Jan Karski concessions. Since the MoE has not provided a decision within three months regarding Prairie's Mining Usufruct application, the Polish civil court has the power to enforce conclusion of a Mining Usufruct Agreement in place of the MoE.”

The legal proceedings presently initiated by Prairie through the Polish civil court are also intended to prevent the MoE from granting a concession to any other party until the full court proceedings are concluded.

 

Blenheim Natural Resources (LON:BNR) 0.34p £4.5m

A drill contract has been signed for the third stage exploration programme across four of its southwest Mali Lithium exploration permits. Blenheim has exposure to these exploration permits through its 40% and 30% shareholdings in Xantus Inc and Nashwan Holdings Limited respectively.

The planned 5,000m augur drilling campaign is intended to test for stronger concentrations of lithium oxide ('Li2O') below the extensively weathered surface

The drill programme will provide samples covering over 90% of the prospective permit area, a significant increase over the < 5% tested through the outcropping sample programme.

This programme follows a reconnaissance and sampling survey in Q4 2017, during which 53 samples were collected from outcropping pegmatites. The results from this survey were indicative of potentially higher grades at depth or along strike.

Mobilisation is targeted for the week commencing 16th April, with assay results anticipated at the end of Q2 2018

The permits are close to Birimian and Kodal Minerals' project areas in southwest Mali

SkinBio Therapeutics (LON:SBTX9.25p £10.98m

The life science company focused on skin health, announces the signing of an MTA (material transfer agreement) relating to its proprietary SkinBiotix® technology with a major, global consumer goods company. The Company has been speaking to a range of commercial partners interested in evaluating its SkinBiotix® technology ahead of its human studies which are scheduled to commence later this year. Having shared the initial pre-clinical data with a number of interested parties, one potential partner to date has progressed to an MTA, granting it access to the SkinBiotix® technology. An MTA is a standard agreement governing the transfer of material between parties enabling the recipient to assess the technology and, where the outcome is successful, can be a precursor to future commercial discussions.

The MTA provides for SkinBioTherapeutics to share a sample of its material against which the third party will conduct its own in-house assessment. Whilst at this stage there can be no certainty that discussions will progress further than the initial sharing of the technology, the Company is encouraged by the level of interest that has been shown in its pre-clinical data.

 

Egdon Resources (LON:EDR) 5.7p £14.8m

Egdon “has signed a Farm-out Agreement in respect of a further 5% interest in PEDL253 with Humber Oil & Gas Limited under the same terms as the farm-out previously announced on 5 and 20 March. PEDL253 is located in Lincolnshire and contains the Biscathorpe Prospect, scheduled for drilling around mid-2018.

Humber will acquire a further 5% of Egdon's interest in PEDL253 by paying their pro-rata share of the Biscathorpe-2 well cost plus an additional £50,000 (£10,000 per percentage point interest acquired).  Humber will also acquire an additional 5% from Montrose Industries Limited's interest in PEDL253 under the same terms.

The Biscathorpe Prospect is located on the southern margin of the Humber Basin on trend with, and to the west of, the producing Keddington oil field (Egdon operated).”

The Mean Gross Prospective Resources at Biscathorpe are estimated by Egdon to be ca. 14 million barrels of oil.

 

Motif Bio (LON:TFB) 90p £34.22m

The “clinical-stage biopharmaceutical company specialising in developing novel antibiotics, today announced the initiation of a rolling submission of a New Drug Application (NDA) to the U.S. Food & Drug Administration (FDA) for iclaprim, a targeted, Gram-positive investigational antibiotic, for the treatment of acute bacterial skin and skin structure infections (ABSSSI). The NDA submission is expected to be completed during the second quarter of 2018.

Iclaprim has received Qualified Infectious Disease Product (QIDP) designation from the FDA together with Fast Track Designation. A candidate granted Fast Track Designation is eligible for a rolling NDA submission, which means that a company can submit completed sections of its NDA, rather than waiting until every section of the NDA has been finalised. Upon acceptance for filing by the FDA of a complete NDA, iclaprim will receive Priority Review status which will result in a review period of up to six months.  Upon NDA approval as a new chemical entity with QIDP designation, iclaprim will be eligible for 10 years of market exclusivity in the U.S. starting from the date of first approval.”

 

Augean (LON:AUG) 29.5p £30.5m

“One of the UK's leading specialist waste management businesses has, as expected, been issued with pre-assessment notifications from HMRC for Augean North Ltd and Augean South Ltd. HMRC has indicated that it intends to issue assessments for a total amount of £37.6m covering the period from August 2013 to August 2017 in respect of Augean South Ltd and from October 2013 to July 2017 in respect of Augean North Ltd. HMRC has also notified the companies that it is considering issuing a reduction in the value of the previous five assessments received, from the £12m notified with our Preliminary Results to £7.5m. “We are pleased that HMRC has recognised the majority of exemption status we had applied and as a result has significantly reduced the potential assessment value accordingly. The Group takes this as a positive and welcome initial development. We are also pleased that HMRC is responding to our situation in a timely manner and faster than we had indicated with our Preliminary Results. We continue to defend our position that the appropriate landfill tax has been paid.” FYDec18E rev £79.5m, EPS 6.29p.

 

Savannah Resources (LON:SAV) 5.85p £37.35m

The “resource development company, announces that it has raised approximately £1.52m cash through the subscription by both new and existing investors for 27,636,361 new ordinary shares of 1p each at a placing price of 5.5p per ordinary share. The Company has received letters of intent for a further £0.58m giving gross proceeds of £2.1m. “Proceeds to:

* continue resource definition drilling and scoping study at the Mina do Barroso Lithium Project in Portugal as the Company fast-tracks it to a decision to mine;

* continue activities to commence copper mining in Oman later this year; and

* advance the Preliminary Feasibility Study for the world-class Mutamba Heavy Mineral Sands Project in Mozambique.

Savannah Petroleum (LON:SAVP) 27.6p £230.39m

“Savannah Petroleum PLC is pleased to announce that the first well in its three well drilling campaign, Bushiya-1, was spudded on 31st March 2018.  Bushiya-1 is located on the R3 portion of the R3/R4 PSC Area in the Agadem Rift Basin, south east Niger.

As previously announced, the well is designed to evaluate potential oil pay in the Eocene Sokor Alternances as the primary target, with the secondary target of potential oil pay in the Eocene-Oligocene Upper Sokor being considered as upside. Savannah's competent person, CGG Robertson, has assessed total mean unrisked recoverable resources at Bushiya of 36 mmbbls.”

 

Genedrive (LON:GDR) 40.5p £7.5m

“The near patient molecular diagnostics company, today announces it will premiere its Genedrive® HCV ID Kit in the Asia Pacific region at the MEDLAB Asia Pacific Exhibition & Congress in Singapore on 2-4 April 2018.

Genedrive® HCV ID Kit is a qualitative HCV assay, providing results within 90 minutes and is designed for use in a decentralised testing environment. It is performed on the company's portable molecular diagnostics platform, Genedrive®, and was created to support the roll-out of direct-acting antivirals in low and middle income countries.

genedrive recently announced first commercial sales of instruments and assays to Sysmex Europe GmbH to cover Europe, Middle East and Africa and Sysmex Asia Pacific Pte Ltd for the Asia Pacific region, excluding India. In addition, the Genedrive® HCV ID Kit's first external validation study was successfully conducted in South Africa with results announced in early January 2018 showing 100% specificity and sensitivity in independent use, confirming that our good clinical validation performance can be translated into real-world settings. ”

 

Scancell Holdings (LON:SCLP) 13.75p £42.9m

“The developer of novel immunotherapies for the treatment of cancer, is pleased to announce that it signed an agreement at the end of March 2018 with The PolyPeptide Group, one of the world's largest independent contract manufacturers of therapeutic peptides, for Good Manufacturing Practice (GMP) manufacture of its first Moditope® development candidate, Modi-1 - AMPLIVANT® conjugat­e. 

As announced on 15 February 2018, ISA Pharmaceuticals B.V., The Netherlands, has granted Scancell an exclusive worldwide license to use AMPLIVANT® for the manufacture, development and commercialisation of the Modi-1-AMPLIVANT® conjugate therapy.”

Scancell plans to commence a phase 1/2 clinical trial of Modi-1-AMPLIVANT®in H1 2019 in patients with triple negative breast cancer, ovarian cancer and sarcomas.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

3 hours, 52 minutes ago