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Power Metal Resources #POW – Botswana Molopo Farms Complex – Further Assays Highlight Additional Pyroxenite Band with Visible Sulphides Assayed Returning up to 1.7% Nickel

Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces the results from further assays received from hole KKME 1-6, the second of three holes drilled at the Kalahari Key Mineral Exploration Pty Ltd (“Kalahari Key” or “KKME”) Molopo Farms Complex Project located (“MFC” or the “Project”) in southwest Botswana.

Power Metal currently has a 40% direct MFC interest as well as an 18 % shareholding in Kalahari Key, for a combined effective economic interest of 50.8%.

Based on visual inspections of core, four select intervals were originally sent for assay at Scientific Services Geological Laboratories (“SCISERV”) in Cape Town, South Africa which included the downhole intervals 292.7m – 297.5m, 308.5m – 313.2m, 501.8m – 529.1m, and 585.0m – 597.8m. A full list of results from this first batch of assays, which included up to 4.1m @ 0.49% Ni from 309m downhole, including 1.6m @ 0.72% nickel (Ni) from 309.6m downhole, can be viewed at the link below.

https://www.londonstockexchange.com/news-article/POW/botswana-molopo-farms-exploration-update/15068224

In addition, selected intervals  from KKME 1-6 were examined by the University of Witwatersrand who recommended that additional samples should be submitted to SCISERV for assay, specifically the 7m wide downhole interval between 445m – 452m.  The laboratory assay results for the 8 samples in this interval have now been received and the full results are set out in Table 1 below.

HIGHLIGHTS:

–  Nickel enrichment was encountered throughout the entire 7m interval assayed as part of this batch, including a 0.6m sample which returned 1.696% Ni (16,961ppm),  0.55g/t platinum (Pt), and 0.14g/t gold (Au).

–  The results presented herein represent the single highest nickel and platinum results, and the second highest gold result from the 2020 drilling programme to date.

–  These results further demonstrate the potential the Molopo Farms Complex Project has of hosting significant nickel-platinum group element (“PGE”) enriched magmatic sulphide mineralisation.

–  The fine grained nature of sulphide mineralisation indicates that several other intervals with KKME 1-6 have the potential to host appreciable nickel-sulphide mineralisation. As a result, additional samples will now be sent to the laboratory for assay testing.

–  The identification of these additional mineralised pyroxenite horizons within KKME 1-6, is highly encouraging and will assist as we plan for the next phase of drilling on the Project.

Paul Johnson, Chief Executive Officer of Power Metal Resources plc, commented:

“We continue to see data emerging from Molopo Farms which points to the potential for significant nickel-PGE rich magmatic sulphide mineralisation. More assay tests are in process and the results are keenly awaited.

We have been fortunate to identify the targeted mineralisation so early in the exploration campaign, notably nickel sulphides in the second hole of drilling. Now we continue to build on that with some enthusiasm.”

Table 1:  Diamond Drill Hole KKME 1-6 Assay Data – New Data

Drill Hole ID

From (m)

To (m)

Interval (m)

Co (ppm)

Cu (ppm)

Ni (ppm)

Zn (ppm)

Au (g/t)

Pt (g/t)

Pd (g/t)

1-6

445.0

446.0

1.0

193

41

2663

35

<0.05

<0.05

<0.05

1-6

446.0

446.7

0.7

441

32

3012

37

<0.05

<0.05

<0.05

1-6

446.7

447.3

0.6

594

25

16961

37

0.14

0.55

0.15

1-6

447.3

448.0

0.7

678

<5

6948

37

<0.05

0.11

<0.05

1-6

448.0

449.0

1.0

414

<6

3056

41

<0.05

0.06

<0.05

1-6

449.0

450.0

1.0

223

<7

3187

46

<0.05

<0.05

<0.05

1-6

450.0

451.0

1.0

106

12

2504

34

<0.05

<0.05

<0.05

1-6

451.0

452.0

1.0

101

<5

2474

35

<0.05

<0.05

<0.05

* All depths and intervals are as measured downhole.

COMPETENT PERSON STATEMENT

The drilling and sampling programme has been overseen on site by Mr. Ian McGeorge MSc CGeol FGS a qualified person and chartered geologist working on behalf of the independent mining consultancy The MSA Group (“MSA”). Information in this announcement relating to the exploration drilling results is based on data reviewed by Mr McGeorge.  Mr McGeorge has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr McGeorge consents to the inclusion of the exploration results in the form and context in which they appear.

The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

Notes to Editors:

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.

The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.

Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.

Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work.

Value generated through disposals will be deployed internally to drive the Company’s growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.

Power Metal Resources #POW – Directorate Change

powPower Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces that Andrew Bell, Chairman of the Company, is to step down as Chairman and as a director on 30 September 2021 to focus on Red Rock Resources plc (“RRR”) and the new planned London capital market IPO of New Ballarat Gold Corporation PLC, the new holding company for the interests of Power Metal and RRR in Red Rock Australasia Pty Limited (“RRAL”).

Power Metal is seeking to appoint a new chairman and a further announcement will be made in due course.

Mr Bell will continue to work with the Company in an advisory capacity for a minimum of 12 months.

Paul Johnson, Chief Executive Officer of Power Metal Resources plc, commented:

“I would like to thank Andrew for his work as Chairman since February 2019 when together we joined the Board of the Company and commenced a process of high paced corporate reinvigoration.

We were able to bring Power Metal back to life and then build a global exploration company with interests across North America, Africa and Australia. 

Andrew’s continuous work and willingness to engage with bold new opportunities has enabled Power Metal to assemble the portfolio of projects we have today.

One important project RRAL, our joint venture in the Victoria Goldfields, Australia, has 2,334km2 of ground footprint against which exploration licence applications have been submitted and of which 848km2 has been granted to date. RRAL has active exploration in the field and a number of drill targets for Q4 2021.  This joint venture is preparing for a planned IPO in London under the name New Ballarat Gold Corporation PLC and needs the focussed attention that Andrew can provide. 

I look forward to reporting on listing developments for New Ballarat, which I believe holds considerable potential value for Power Metal.

We now move forward to a new phase in Power Metal’s development and find ourselves at a notable value inflection point. Our portfolio covers exploration for nine metals and we currently have eleven exploration programmes underway or planned for the balance of 2021, including five drill programmes.”

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

Notes to Editors:

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.

The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.

Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.

Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work.

Value generated through disposals will be deployed internally to drive the Company’s growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.

Open Orphan #ORPH – Major year-on-year revenue growth and profitable H1 2021 performance following a year of turnaround and transition in 2020

Open Orphan (AIM: ORPH), a rapidly growing specialist contract research organisation (CRO) and a world leader in vaccine and antiviral testing using human challenge clinical trials, announces its unaudited interim results for the six months ended 30 June 2021. These results show a continued pattern of profitability from Q4 2020 to a firmly profitable position delivering a positive EBITDA profit of £2.1 million compared to an EBITDA loss of £4.1 million in H1 2020. We look forward to achieving record revenues in 2021 in our first full year of EBITDA profitability with recent contract wins and exceptional pipeline growth fueling revenues into 2022.

In the past 12 months, the Company has received international recognition and media attention for its excellence in delivering human challenge studies as a partner in the world’s first COVID-19 human challenge characterisation study. The Company now has a broad range of human challenge study models, focusing on leveraging the major growth opportunities presenting in infectious and respiratory disease markets, including RSV, Influenza, Asthma, hRV, COPD and Malaria.

Profitable Financial Performance in H1 2021:

  • Continuing from a profitable Q4 2020, the Company has moved the business to a firmly profitable position with losses consigned to the past
    • 242% reported revenue growth in H1 2021 (£21.9m) versus H1 2020 (£6.4m). Other income grew to £1.2m in H1 2021 from £0.7m in H1 2020
    • EBITDA profit of £2.1m (2020: EBITDA loss of £4.1m)
    • Revenue has more than tripled reflecting six active challenge studies in H1 2021 vs two active challenge studies in H1 2020 and a solid performance in Early Clinical / Biometry Services
    • In H1 2021, non-COVID-19 related work accounted for 75% of revenues
    • Gross margin has grown from 6% to 28% of revenue, reflecting that the Company is driving substantial operating leverage through cross selling, restructuring, functional integration and operational productivity
  • Cash and cash equivalents were £14.9m at 30 June 2021, primarily reflecting the operating cashflow cycle of the business with new contract prepayments expected in H2 2021
  • The Company has executed a share capital re-organisation as an important enabler to progress the monetisation of non-core assets via distribution of dividend in specie. In June, it completed the first distribution in specie back to the shareholders worth £26.2m at 16 September 2021, in relation to the demerging of certain non-core assets into Poolbeg Pharma Limited (“Poolbeg Pharma”)

 

Open Orphan Plc Group

(Results as Reported)

   
Unaudited

6 months ended

30 June 2021

Unaudited

6 months ended

30 June 2020

     
Income Statement £’000 £’000
Revenue (incl. other income) 23,166 7,078
Gross Profit 6,041 390
Operating Profit (Loss) after exceptional items 1,629 (6,340)
EBITDA before exceptional items 2,073 (4,145)

Operational highlights

  • Delivered a strong and growing pipeline of new challenge study contract wins across a broadening range of challenge studies including influenza, RSV, hRV, Asthma, etc. Strong growth from Big Pharma clients which will deliver revenues across H2 2021 and into FY 2022
  • Continued to diversify services offering and associated activities such as virus manufacturing and lab services enabled by CAP and UKAS accreditations which are progressing, as well as the development of new challenge study models (Malaria, COVID-19) as part of its broadening portfolio of challenge models
  • Leveraged its state-of-the-art facilities, including the new 19-bedroom quarantine facility (Whitechapel Clinic) beside the existing 24-bedroom Queen Mary’s BioEnterprises Centre facilities also in Whitechapel (QMB). All COVID-19 characterisation study activities conducted in the 19-bedroom quarantine facility in Royal Free Hospital in London. We have delivered a record volume of quarantine studies on an increasingly cost-efficient basis with ample capacity to further grow the business
  • Increased volunteer recruitment capacity through the opening of a new volunteer screening centre in Manchester and also a new dedicated street level screening facility in QMB increasing screening capacity to 520 visits per week
  • Disease in Motion® launched as a first step towards its spin off as a standalone company, with the intention that the value will be delivered to our shareholders via dividend in specie in the same format as was successfully completed with Poolbeg Pharma plc. This unique data-focused platform has multiple infectious disease applications for a wide variety of end users including big tech, wearables, pharma and biotech companies

Post-period end

  • Multiple high value human challenge study contracts signed – £5.7m Influenza study (September 2021), £8.1m asthma study (August 2021), significant hRV & Influenza study (July 2021)
  • Successful Phase 2a RSV human challenge studies completed for a top tier pharma company and for Bavarian Nordic highlight the value of human challenge studies, their role in mainstream clinical trial design, and hVIVO’s industry leading position
  • Successfully monetised the first non-core asset via spin-out and AIM IPO of Poolbeg Pharma plc through a dividend in specie to Open Orphan shareholders, which was non-dilutive to existing shareholdings in the Company
    • As of 16 September 2021, the Open Orphan shareholders’ value in Poolbeg Pharma plc is £26.2
    • Poolbeg Pharma raised £25m in fresh funds from new investors in an IPO in July 2021
    • Created substantial value for Open Orphan shareholders who received these dividend shares in Poolbeg Pharma with no income tax due as part of a HMRC approved statutory demerger
  • Additional 1.3m shares in Open Orphan, valued at £350,000, purchased by Company Directors (Cathal Friel and Prof. Brendan Buckley)

Outlook

  • Post-pandemic, the infectious and respiratory disease market is seeing exponential growth, with an expected global market value of $250bn by 2025. This is resulting in a vastly increased market for Open Orphan to test a new range of infectious and respiratory disease products as the world leader in the provision of human challenge studies
  • The Company is experiencing a major increase in negotiations, contract wins, and repeat contract wins with Big Pharma, while also seeing increased wins from biotech companies with major deals expected to now sign in Q4 2021 driving revenue in 2022
  • Open Orphan is expanding its focus and service offering in providing infectious and respiratory disease challenge studies
  • Full year guidance of c. £40m revenue (incl. other income) with full year EBITDA profitability for FY 2021, with non-COVID-19 work expected to represent c. 70% of FY 2021 revenue mix. While 2021 will represent record revenues for the Company and a return to full year EBITDA profitability, it is somewhat behind analyst expectations as the anticipated COVID-19 challenge studies will now likely commence in 2022 on foot of the successfully completed quarantine phase of the Human Challenge Programme characterisation study
  • Year-end cash balances expected to close in line with the half year position of £14.9m
  • Targeting revenues in the region of £50m for 2022 in non-COVID-19 work, reflecting signed contracts and contracts in advanced negotiations, ongoing momentum in the core business and ongoing market growth. COVID-19 revenue for 2022 will be in addition to this and will depend on the eventual timing of these studies
  • The Company continues to work towards the monetisation of all remaining non-core assets and to hand these back to Open Orphan shareholders via dividend in specie allowing the Company to focus on its core offering
    • These spin-offs / demergers offer an excellent opportunity for shareholders to maximise value in separate shareholdings in both exciting pharma product commercialisation companies, in addition to a profitable and world leading CRO
    • Opportunity to complete spin-off of Disease in Motion® platform along with plans to monetise the other non-core assets, namely the Company’s 62.6% stake in PrEP Biopharm, and 49% stake in Imutex Limited

Cathal Friel, Executive Chairman of Open Orphan plc commented:

Open Orphan has delivered very strong progress both operationally and financially. The Company’s H1 2021 revenues grew by 242% versus H1 2020, which continues a pattern of profitability from Q4 2020 and transitions the business to a firmly profitable position, having delivered a positive EBITDA profit of £2.1 million in H1 2021. The business is now well positioned to capitalise on the significant growth in the infectious disease market, which is expected to grow to in excess of $250bn by 2025 and we have seen our business development pipeline grow accordingly.

“I am delighted and hugely satisfied with the fantastic turnaround and team effort by everyone in the Open Orphan organisation; they have completely transformed the business following the acquisition of both hVIVO and Venn in the past two years. These two companies are now fully integrated and, in the process, we have created the world leader in the testing of vaccines, antivirals and other infectious and respiratory disease products using human challenge studies. With a broadening portfolio of human challenge studies, we are well placed to continue working with Big Pharma and biotechs alike to move their products through the clinic as the infectious disease market experiences one of the largest pharmaceutical growth cycles ever, with the market expected to grow significantly by 2025.  We look forward to further progress and a profitable H2 as the business continues to attract additional clients.

“Additionally, we will look to provide further shareholder value through the monetisation of our non-core assets, as we did post-year end with the successful spin-out, listing and distribution in specie of Poolbeg Pharma plc.”

Analyst Briefing

An online briefing for Analysts will be hosted by Cathal Friel, Executive Chairman, and Leo Toole, Group Chief Financial Officer, at 9.30am (BST) on 20 September 2021 to review the results and prospects. Analysts wishing to attend should contact Walbrook PR on openorphan@walbrookpr.com or on 020 7933 8780.

Investor presentation

OPEN ORPHAN PLC is pleased to announce that Cathal Friel and Leo Toole will also provide a live presentation relating to H1 2021 Interim Results via the Investor Meet Company platform on 20 September 2021 at 6:00pm (BST).

The presentation is open to all existing and potential shareholders.

Investors can sign up to Investor Meet Company for free and add to meet OPEN ORPHAN PLC via:

https://www.investormeetcompany.com/open-orphan-plc/register-investor

Investors who already follow OPEN ORPHAN PLC on the Investor Meet Company platform will automatically be invited.

For further information please contact:

 

Open Orphan plc +353 (0) 1 644 0007
Cathal Friel, Executive Chairman
Arden Partners plc (Nominated Adviser and Joint Broker)    +44 (0) 20 7614 5900
John Llewellyn-Lloyd / Louisa Waddell / Oscair McGrath
finnCap plc (Joint Broker) +44 (0) 20 7220 0500
Geoff Nash / James Thompson/ Richard Chambers
Davy (Euronext Growth Adviser and Joint Broker) +353 (0) 1 679 6363
Anthony Farrell
Walbrook PR (Financial PR & IR) +44 (0)20 7933 8780 or openorphan@walbrookpr.com
Paul McManus / Louis Ashe-Jepson / Sam Allen +44 (0)7980 541 893 / 07747 515 393 / 07502 558 258

 

Notes to Editors 

Open Orphan plc (London and Euronext: ORPH) is a rapidly growing pharmaceutical service/contract research company that is a world leader in testing vaccines and antivirals using human challenge clinical trials. The Company provides services to Big Pharma, biotech and government/public health organisations.

Open Orphan runs challenge studies in London from both its 19-bedroom Whitechapel quarantine clinic and its state-of-the-art 24-bedroom QMB clinic with its highly specialised on-site virology and immunology laboratory. Open Orphan has a leading portfolio of human challenge study models for infectious and respiratory diseases and is developing a number of other models. There has been an explosion in the growth of the infectious disease pharmaceuticals market, which is estimated to grow to in excess of $250bn by 2025. The Group is focused on refreshing its existing challenge models and develop new models, such as Malaria, to address the dramatic growth potential of the global infectious disease market.

Building upon its many years of challenge studies and virology research, the Company is developing an in-depth database of infectious disease progression data. Based on the Company’s Disease in Motion® platform, this unique dataset includes clinical, immunological, virological and digital (wearable) biomarkers. The Disease in Motion platform has many potential applications across a wide variety of end users including big technology, wearables, pharma and biotech companies.

Open Orphan’s Paris office has been providing biometry, data management and statistics to its many European pharmaceutical clients for over 20 years. For over 15 years, the Company’s Netherlands office has been providing drug development consultancy and services, including CMC (chemistry, manufacturing and controls), PK and medical writing, to a broad range of European clients. Both offices are now also fully integrated with the London office and working on challenge study contracts as well as supporting third party trial contracts.

LINK HERE FOR FULL FINANCIAL STATEMENTS

Open Orphan #ORPH – £5.7m Influenza human challenge study contract win

Open Orphan (AIM: ORPH), a rapidly growing specialist clinical research organisation (CRO) and world leader in vaccine and antiviral testing using human challenge clinical trials, announces that hVIVO, a subsidiary of Open Orphan plc, has signed a £5.7m contract with a specialist biotechnology company developing therapeutics for respiratory viral infections, to test its antiviral product using the hVIVO Influenza human challenge study model.

The human challenge study is expected to commence in Q1 2022 and will be conducted at hVIVO’s state-of-the-art facilities in London. The Company expects the revenue from the contract to be recognised across 2021 and 2022.

The client’s influenza antiviral product has demonstrated effectiveness in animal preclinical models of respiratory viruses and has several clinical and commercial advantages with respect to convenience, resistance, durability and compatibility when compared to similar products.

The Company expects to sign more contracts in this area as attention switches to potential future Influenza outbreaks. Influenza is expected to be a major global issue due to low level population immunity caused by reduced infection rates over the last 18 months, which is the result of COVID-19 mitigation measures such as social distancing and mask wearing. After a solidly EBITDA profitable H1, this contract will help ensure the Company enters a period of sustained growth and profitability across a whole range of challenge studies.

hVIVO has two decades of experience and expertise in safely conducting challenge studies across a range of respiratory viruses, including various strains of Influenza, Respiratory Syncytial Virus (RSV) and human Rhinovirus HRV (common cold virus), malaria, asthma. In October 2020, this expanded to include the SARS-CoV-2 virus. 

Cathal Friel, Executive Chairman of Open Orphan, said: “We are delighted to be working with this biotechnology company to test their exciting antiviral product against our Influenza human challenge study model. As a result of social distancing, hand washing and other COVID-19 mitigation measures, there has been extremely low levels of population immunity to Influenza. As such, there is an increasing concern that in the year ahead Influenza outbreaks could spike considerably and therefore this type of therapeutic could form part of an effective defence against future outbreaks of Influenza due to its compelling array of clinical and commercial advantages.

“This contract is also a further demonstration of our expertise and capabilities testing therapeutics across the infectious disease and respiratory market, which is due to grow exponentially to over $250 billion by 2025, as pharmaceutical companies around the world look to restock the medicine cabinets with novel vaccines and antivirals. With this in mind, we expect that moving into 2022, our work will continue to come from a broad range of infectious and respiratory diseases, as we see rapid growth in those spaces. 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (as implemented into English law) (“MAR”) . With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

Interested in becoming a volunteer? 

hVIVO recruits many of its volunteers for its challenge study clinical trials through its dedicated volunteer recruitment website, www.flucamp.com. By volunteering to take part in one of our studies in a safe, controlled, clinical environment under expertly supervised conditions you are playing your part to further medical research and help increase the understanding of respiratory illnesses.

Individuals interested in taking part in COVID-19 human challenge study research can learn more at www.UKCovidChallenge.com.

 

For further information please contact:

 

Open Orphan plc +353 (0) 1 644 0007
Cathal Friel, Executive Chairman
Arden Partners plc (Nominated Adviser and Joint Broker)    +44 (0) 20 7614 5900
John Llewellyn-Lloyd / Louisa Waddell / Oscair McGrath
 
finnCap plc (Joint Broker) +44 (0) 20 7220 0500
Geoff Nash / James Thompson/ Richard Chambers
 
Davy (Euronext Growth Adviser and Joint Broker) +353 (0) 1 679 6363
Anthony Farrell
 
Walbrook PR (Financial PR & IR) +44 (0)20 7933 8780 or openorphan@walbrookpr.com
Paul McManus/ Sam Allen/ Louis Ashe-Jepson +44 (0)7980 541 893 / +44 (0) 7502 558 258 / +44 (0) 7747 515393

 

Notes to Editors  

Open Orphan plc

Open Orphan plc (London and Euronext: ORPH) is a rapidly growing contract research company that is a world leader in testing vaccines and antivirals using human challenge clinical trials. The Company provides services to Big Pharma, biotech and government/public health organisations.

Open Orphan runs challenge studies in London from both its 19-bedroom Whitechapel quarantine clinic and its state-of-the-art 24-bedroom QMB clinic with its highly specialised on-site virology and immunology laboratory. The Company has a leading portfolio of human challenge study models for infectious and respiratory diseases and is developing a number of new models. There has been an explosion in the growth of the infectious disease market, which is estimated to grow to in excess of $250bn by 2025. The Group is focused on refreshing its existing challenge models and develop new models, such as Malaria, to address the dramatic growth potential of the global infectious disease market.

Building upon its many years of challenge studies and virology research, the Company is developing an in-depth database of infectious disease progression data. Based on the Company’s Disease in Motion® platform, this unique dataset includes clinical, immunological, virological and digital (wearable) biomarkers. The Disease in Motion platform has many potential applications across a wide variety of end users including big technology, wearables, pharma and biotech companies.

Open Orphan’s Paris office has been providing biometry, data management and statistics to its many European pharmaceutical clients for over 20 years. For over 15 years, the Company’s Netherlands office has been providing drug development consultancy and services, including CMC (chemistry, manufacturing and controls), PK and medical writing, to a broad range of European clients. Both offices are now also fully integrated with the London office and working on challenge study contracts as well as supporting third party trial contracts

Alan Green discusses Forum Energy $FMC & Tertiary Minerals #TYM on the Stockbox Research podcast

Alan Green discusses Forum Energy $FMC & Tertiary Minerals #TYM on the Stockbox Research podcast

#KAV Kavango Resources – Kalahari Suture Zone (KSZ) – drilling update

kavKavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce that the Company has requested Mindea Exploration and Drilling Services (Pty) to extend Hole TA2DD002 to 1,000m depth, which is the technical limit of the drill rig on site within acceptable safety margins, to assist in further developing and refining the Company’s model of the KSZ.

At end of shift at 0500 today, 17 September,  Hole TA2DD002 was at 821m. So far the Company has encountered 170m of continuous Proterozoic mafic/ultramafic rocks. Kavango’s senior field geologists have continued to make visual inspection of the core and have reported visible alteration and interstitial blebs of chalcopyrite in different sections of the hole. The lithologies range from coarse grained to extremely pegmatitic, the latter logged in zones that extend 20-30m in thickness.

The Company advises shareholders that thorough analysis is required of all core samples retrieved from the Proterozoic Complex in Hole TA2DD002, before any conclusions can be drawn as to what has been encountered so far. This analysis will include (but not necessarily be limited to) assay testing and whole rock analysis.

The Company will make further updates as necessary.

————————————————————————————————————

Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.

For additional information please contact:

Kavango Resources plc

Ben Turney

bturney@kavangoresources.com

+46 7697 406 06

First Equity (Joint Broker)

+44 207 374 2212

Jason Robertson 

SI Capital Limited (Joint Broker)

+44 1483 413500

Nick Emerson

#POW Power Metal Resources – Director Dealings

powPower Metal Resources plc (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces that today, Paul Johnson, Chief Executive Officer of the Company purchased 500,000 ordinary shares of 0.1 pence each in the Company (“Ordinary Shares”) at a price of 2.1p per Ordinary Share through his Self-Invested Personal Pension (“SIPP”) (£10,500 invested). 

Following the above purchase Mr Johnson has a beneficial interest in a total of 75,000,000 Ordinary Shares, representing approximately 6.02% of the issued share capital of the Company.

 

PDMR Disclosure

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the director’s share dealing.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

1.  Paul Johnson

2

Reason for the notification

a)

Position/status

 

1.  Chief Executive Officer

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Power Metal Resources Plc

b)

LEI

213800VNXOUPHTX53686

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

ordinary shares of 0.1p each

Identification code

ISIN: GB00BYWJZ743

b)

Nature of the transaction

1.  Purchase of Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

2.1p

500,000

d)

Aggregated information

– Aggregated volume

500,000 

– Price

2.1p

e)

Date of the transaction

17 September 2021

f)

Place of the transaction

XLON

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

 

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

#KAV Kavango Resources – Kalahari Copper Belt – LVR JV Licence renewal

kavKavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce renewal of Prospecting Licences (“PLs”) PL082/2018 and PL083/2018 (the “LVR Project”) in the Kalahari Copper Belt (“KCB”). The LVR Project is held in a Joint Venture between the Company and LVR GeoExplorers (Pty) Ltd (“LVR”). Kavango is currently earning into the LVR Project and has to date acquired a 25% stake.

The LVR Project covers 1,091km2 of prospective ground in the KCB. First drill targets were announced on 03 June 2021. Field exploration is ongoing and a further update is expected in the coming weeks.

Ben Turney, Chief Executive Officer of Kavango Resources, commented:

“The LVR Project is quietly gaining momentum. We think PL082 is particularly interesting. Analysis and fieldwork so far suggest this licence could contain a mirror of Cupric Canyon’s Banana Zone South Limb on the other side of the Ghanzi Ridge. We expect to release descriptive media, illustrating the extent of this project’s potential in the coming weeks.”

About the LVR JV

The LVR JV Agreement between Kavango and LVR GeoExplorers Ltd comprises two PLs totalling 1,091km2. Kavango has the right to acquire a 90% interest in the LVR Project through a staged mechanism over seven years from 2 June 2021. Three stages remaining in the earn-in agreement, which require that Kavango spend up to 27.5million BWP (c.£1.8million) in exploration expenditure to earn its 90% interest.

Stage 1 of the JV was completed on 2 June 2021, meaning Kavango has earned 25% interest in the two PLs.

 

Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.

For additional information please contact:

Kavango Resources plc

Ben Turney

bturney@kavangoresources.com

+46 7697 406 06

First Equity (Joint Broker)

+44 207 374 2212

Jason Robertson 

SI Capital Limited (Joint Broker)

+44 1483 413500

Nick Emerson

#ANA Ananda Developments Plc – Research Facility Construction Update

ana

Ananda, the AQSE-listed medical cannabis company creating UK-based operations to grow and provide carbon neutral, consistent, pharmaceutical quality medical cannabis for the UK and international markets, provides the following update on the construction of its research facility.

Since the Company’s update on 6 September 2021, works have continued on schedule at the medical cannabis research growing facility being developed in the UK by DJT Plants Limited (“DJT Plants”), the Company’s 50% owned subsidiary.

As previously announced the facility footprint has been increased.  To provide further detail to shareholders, it now incorporates:

  • a dedicated growing room for female plants (which produce the resin secreting flowers used for medicinal cannabis)
  • a dedicated growing room for male plants (grown to pollinate the female plants)
  • a dedicated plant nursery
  • a dedicated room for mother plants (to guarantee genetic consistency of each generation of plants)
  • laboratory space (for trimming plants, analysing characteristics and test work)
  • enlarged work rooms

The facility is also being constructed to allow for thorough cleaning and to accommodate appropriate work flows and movement of plants through the work rooms.  These are requirements for Good Manufacturing Practices (“GMP”) certification, which will be applied for in due course.  The facility construction management team (supplied by Ananda’s partner JE Piccaver & Co (Gedney Marsh) Limited (“JEPCO”)) is well versed in all aspects of high plant care standards, as they are required in the salad leaf industry where JEPCO operates as a large-scale speciality grower.  Salad leaves are not cooked before being consumed, so the team is very familiar with the required levels of hygiene, work-flow management and deep cleaning.  JEPCO operates to Red Tractor standards, which were established in 2000 and which have grown to become the UK’s biggest farm and food standards scheme, covering all aspects of food safety, traceability and environmental protection.  JEPCO is also accredited under Global GAP (the Global Partnership for Safe and Sustainable Agriculture) and is a Selected Grower under the Marks & Spencer Field to Fork programme.

DJT Plants holds a licence from the Home Office of the UK Government to grow >0.2% THC cannabis for research purposes.

The Directors of the Company accept responsibility for the contents of this announcement.

ANANDA DEVELOPMENTS PLC
Chief Executive Officer
Melissa Sturgess

Investor Relations
Jeremy Sturgess-Smith

+44 (0)7463 686 497
ir@anandadevelopments.com
PETERHOUSE CAPITAL LIMITED
Corporate Finance
Mark Anwyl

Corporate Broking
Lucy Williams
Duncan Vasey

YELLOW JERSEY PR
Alison Hicks
Charles Goodwin

+44 (0)20 7469 0930

+44 (0) 7585 953 660
+44 (0) 7747 788 221

#ORPH Open Orphan – Why scientists are deliberately infecting volunteers with Covid-19

If you are going to catch covid-19, jokes Jacob Hopkins, a university student, the safest place to do it is in a hospital. So in March Mr Hopkins lay down on a bed in the Royal Free Hospital in London while doctors placed droplets of liquid carrying the sars-cov-2 virus into his nose. Mr Hopkins was one of 36 participants in the first “human challenge trial” (hct) for covid-19.

Human trials are a valuable part of medical research. Studying sick people in the controlled environment of a lab allows scientists to collect valuable information about how diseases work much more quickly than relying on messy and uncertain data from the real world. Since the second world war, around 40,000 volunteers have allowed themselves to be infected with everything from malaria and typhoid to dengue fever and cholera.

Read the full Economist article here.
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