Berry, a partner in law firm Norton Rose Fulbright, will replace Cameron Davies, who is retiring as a director of the company at the end of March next year.
Tim Yeo, Powerhouse’s chairman, paid tribute to his predecessor, Davies, and welcomed Berry’s decision to join the board, saying Berry’s “deep experience and knowledge of our industry will be of immense value”.
2.10pm: Griffin Mining enjoys golden quarter
Griffin Mining Limited (LON:GFM) was 9.7% heavier at 73.5p after it received its third-quarter production update.
Ore mined in the third quarter rose to 248,361 tonnes from 200,484 tonnes in the preceding quarter, while ore processed climbed to 236,078 tonnes from 195,340 tonnes in the second quarter.
Gold in concentrate produced shot up to 4,906 ounces from 1,237 in the previous quarter.
1.10pm: Victoria jumps as Koch Equity Development investment puts a floor under the price
After the market closed yesterday, the company also announced that Koch Equity Development had committed to pumping £175mln into the company by acquiring convertible 9.35% preferred shares to be issued by the retailer.
“The time has now come to again focus on growth and the capital provided by Koch will enable us to deliver significant value creation while maintaining stable and secure debt leverage ratios. I am delighted to bring the capital, resources, and deep industrial expertise of the largest privately held company in the United States to Victoria’s next phase of growth as we execute on the exceptional organic growth and acquisition opportunity ahead,” said Geoff Wilding’ Victoria’s executive chairman.
12.05pm: Kavango surges after latest update on the Kalahari Suture Zone
The company said there was further strong evidence that the KSZ may host one or more “Norilsk-style” copper-nickel-platinum group metal deposits.
The company said that following a mineralogical study and laboratory analysis of rock samples taken from the company’s November 2019 drilling campaign, there is now compelling evidence that the KSZ experienced similar geological conditions as those that led to the formation of giant Cu-Ni-PGM massive sulphide deposits at Norilsk (Siberia), Voisey’s Bay (Canada), Raglan (Canada), Jinchuan (China) and the Thomson Nickel Belt (Canada).
#KAV #KCB #Botswana @VNSGlobal
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Short media clip which explains the formation of Magmatic Sulphides as at the Norilsk Mine and the similarity between #Norilsk and the #KSZ projecthttps://t.co/ClRDB0qbGv pic.twitter.com/QFRBDidzaK
— Kavango Resources (@KavangoRes) October 13, 2020
11.05am: Vianet Group returns to profit in September
The internet of thing specialist, which has a large presence in the hospitality sector, said the first half of its financial year was ahead of the management forecasts that were made when the lockdown restrictions began to bite.
There has been a month-on-month improvement in operating profit and cash since the start of the financial year with September moving into profit, the company revealed.
10.10am: Aminex on the up after it completes its farm-out deal with APT
“We are delighted to finally complete the farm-out and hand over operatorship of the Ruvuma PSA to APT,” said Robert Ambrose, Aminex chief executive in a statement.
The company now retains a 25% interest in the Ruvuma asset – which includes the Ntorya gas project and exploration areas – and APT will fund a forward programme including the drilling of the Chikumbi-1 well and a new seismic programme over at least 200 square kilometres.
9.15am: Evgen Pharma gets green-light for trial of possible coronavirus treatment
Evgen said all necessary regulatory approvals have now been received for the STAR trial, a Phase II/III trial to investigate whether SFX-01 can reduce the severity, or prevent the onset of, acute respiratory distress syndrome in patients with suspected coronavirus (COVID-19).
“We hope that the outcome of this trial will lead to an additional treatment for COVID-19 patients and that SFX-01 could play a big part in managing the current pandemic,” Huw Jones, the chief executive officer of Evgen said in a statement.
The collaboration will see Sensyne deploy its artificial intelligence and machine learning technology to help better understand certain rare blood diseases.
Work will focus on Myeloproliferative Neoplasms to assess the progression of these blood cancers that are characterised by the over-production of white or red cells, or platelets.
Proactive news headlines:
Sensyne Health PLC (LON:SENS) has agreed on a research collaboration with Bristol Myers Squibb that will see it deploy its artificial intelligence and machine learning technology to help better understand certain rare blood diseases. Work will focus on Myeloproliferative Neoplasms to assess the progression of these blood cancers that are characterised by the over-production of white or red cells, or platelets. No financial terms were disclosed. This is Sensyne’s fourth partnership with a major pharma company following deals with Bayer, Roche and Alexion.
Braveheart Investment Group PLC (LON:BRH) has said a new antiviral face mask that can kill coronavirus (COVID-19) will go on sale by the end of the year. This follows a flurry of activity at Braveheart investee company Pharm2Farm (P2F), which has developed a textile coating incorporating nanoparticles with long-lasting virucidal properties. It now has testing results from two independent labs that show the mask textile has a ‘kill rate’ of over 90% for up to seven hours, meeting the requirements for ISO 18184 certification. Meanwhile, Braveheart’s sale of its 51.72% stake in P2F to Remote Monitored Systems PLC (LON:RMS) is expected to complete on November 5. As a result, Braveheart will own 37.12% of RMS.
Aminex PLC (LON:AEX) has announced the completion of its farm-out deal with ARA Petroleum Tanzania Limited (APT). “We are delighted to finally complete the farm-out and hand over operatorship of the Ruvuma PSA to APT,” said Robert Ambrose, Aminex chief executive in a statement. The company now retains a 25% interest in the Ruvuma asset – which includes the Ntorya gas project and exploration areas – and APT will fund a forward programme including the drilling of the Chikumbi-1 well and a new seismic programme over at least 200 square kilometres.
Avation PLC (LON:AVAP), the civil aircraft lessor, said it stayed in profit in its latest financial year in spite of the problems facing airlines due to coronavirus restrictions. Profits dropped 43% to US$14.3mln in the year to end June 2020, which was largely the result of US$35.5mln of impairment losses offset partially by an unrealised gain of US$27.1mln for purchase rights with plane manufacturer ATR. Revenue increased by 14% to US$135.3mln during the year, which was a new record said the company, and before the one-offs, profits rose 28% to US$19.8mln.
Powerhouse Energy Group PLC (LON:PHE) has told investors that Dr Cameron Davies will retire as a director of the company on March 31, 2021. The company intends to appoint Mark Berry as a non-executive director. He is a partner in law firm Norton Rose Fulbright which has particular expertise in the energy industry, Powerhouse noted.
Shanta Gold Limited (LON:SHG) announced after the market close on Thursday that it is proposing to raise roughly £31mln by way of a placing and a direct subscription of shares priced at 16.5p each. All of the directors of the East Africa-focused gold producer, developer and explorer, have indicated an intention to participate in the subscription, up to an aggregate amount of about £270,000. The funds raised will pay for infill drilling, expansion drilling, technical studies and working capital over the next 36 months at the company’s West Kenya Project.
Pan African Resources plc (LON:PAF) has said its American depositary receipts (ADRs) are to be traded on the OTCQX Best Market, starting Friday, October 23, 2020. The OTCQX market is the highest tier of the over-the-counter (OTC) market operated by OTC Markets Group. The ADRs were previously traded on the Pink OTC market.
Power Metal Resources PLC (LON:POW) the AIM-listed metals exploration and development company said it has received notices to exercise warrants over 7,136,000 new ordinary shares of 0.1 pence each in the company. The warrant shares are being issued under the exercise for 4,636,000 warrants at an exercise price of 1.0p each and 2,500,000 warrants at an exercise price of 0.7p each. Subscription monies of £63,860 have been received by Power Metal in respect of these exercises.
Tiziana Life Sciences PLC (NASDAQ:TLSA) (LON:TILS), a biotechnology company focused on innovative therapeutics for oncology, inflammation and infectious diseases, said it has allotted and issued 285,714 ordinary shares of 3p each credited as fully paid at a price of 35p per share in respect of the exercise of 285,714 warrants held by a warrant holder.
Stobart Group PLC (LON:STOB), the aviation and energy infrastructure group, has said it will announce its interim results for the six months ended 31 August 2020 on Wednesday, November 4, 2020. The group will hold an investor presentation at 9.30am UK time on the same day hosted by Warwick Brady, its chief executive officer and Lewis Girdwood, its chief financial officer. The presentation will be hosted through the digital platform Investor Meet Company. Investors can access the webcast by visiting: https://www.investormeetcompany.com/stobart-group-ld/register-investor