Empire Metals (EEE) kicked off the chunky part of its 2021 newsflow with an update on specific strategic initiatives by the Company, along with an update on the progress of drilling at the Eclipse Gold Project, located 55km north-east of Kalgoorlie, Western Australia. The company said that it has continued to confirmed extensions to the mineralisation, with additional opportunities being presented to expand its gold project interests in Western Australia. CEO Mike Struthers is to step down to focus on the company’s best interests in Georgia, and continue to provide technical guidance on the development of the Company’s projects across its portfolio.
One of the things that investors appreciate is regular significant newsflow from companies, and in this aspect, among many others it has been the case that fast growing pharma services group Open Orphan (ORPH) has excelled over the past 18 months and more. The latest from the world leader in vaccine and antiviral testing using human challenge clinical trials is a further contract renewal with Carna Biosciences, extending its integrated drug development consultancy services with Venn Life Sciences – part of Open Orphan. Carna Biosciences is a clinical-stage biopharmaceutical company which focuses on the discovery and development of innovative therapies focusing on small molecule drugs. The renewal of the contract expected to deliver significant revenue for Venn over the next twelve months.
There continued to be intense private investor interest in Genedrive (GDR), the molecular diagnostics company, after last week’s announcement that it has entered into a distribution agreement with Beckman Coulter Life Sciences for its Genedrive® 96 SARS-CoV-2 Kit. Traders continued to be in euphoric mood in the wake of the deal which enables Beckman Coulter to sell and distribute genedrive’s high-throughput COVID-19 PCR Kit in the United States and Europe. Hopes regarding GDR’s share of the diagnostic market, plus fresh news regarding the South African COVID-19 variant in the UK, were just a couple of reasons to explain the further 11% share price rise.
Continuing its recent run of form – no doubt due to its “aggressive investor relations” efforts, green SPAC Pineapple Power (PNPL) was up another 28%. Ironically, it was perhaps as much the enthusiasm of investors, rather than any specific “investor relations” that drove the shares higher, as traders pointed to there just being 59m shares in circulation with the management holding 13m. This explained the evident shortage of stock and a squeeze to the upside, helped along by the overall positive backdrop for companies in the renewable / green energy space.
With the Reddit army allegedly on the case in terms of attempting to pump up the price of Silver, it was evident that to start the week investors were scrambling to look for the companies which may offer the best bang for their buck in terms of XAG. High on the list was Alien Metals (UFO) in the wake of the multi-metals mining group announced in December that its Elizabeth Hill Silver Hill Project in Western Australia holds enormous potential for the company. This was said to be both in the old mine and its bonanza grades and the unique nuggets associated with the deposit. There were also said to be numerous untested nearby targets associated with a significant geological intrusion, already proven to host at least two significant mineral deposits. Alien Metals shares pushed up 5%.
Independent oil and gas producer, San Leon Energy (SLE) offered an update on the funding arrangements by Decklar Petroleum to develop the Oza Oil Field in Nigeria, which is expected to be sufficient to re-establish oil production and provide development funding for the Oza Oil Field. San Leon said the definitive loan documents are now being finalised and are anticipated to be issued by the end of the first week of February. At the same time significant preparatory work has been completed on site and the Oza Oil Field project start promptly. Shares in San Leon Energy rose 9%.
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