Ahead of its final results today, we have been treated to strong updates from clinical stage drug development company, Evgen Pharma (EVG), both with regard to an update on clinical trial plans for SFX-01 in glioblastoma, and preclinical data which shows SFX-01 may be of benefit to metastatic breast cancer. Indeed, it could be of relevance in terms of many cancers. With its final results Evgen said that over the past year it has made considerable progress across all areas of its business, raised significant funding to accelerate the development of its therapeutic programmes and concluded its first commercial partnership.
It may be the case that most in the market cannot now remember whether palladium, platinum, rhodium, iridium and gold producing company Eurasia Mining (EUA) is up for sale or not anymore, but at least it has updated on the Rosgeo JV. The first joint venture company, Monchegorskoe LLC, was created to hold the licence for the Nyud open pit PGM and battery metals deposit. Eurasia's 100% subsidiary Yuksporskaya Mining Company (YGK) has signed an agreement with Rosgeo Group company meaning that YGK will become a 75% shareholder in Monchegorskoe LLC after the licence for Nyud is transferred from Rosgeo to Monchegorskoe LLC. Eurasia, through YGK, will also have a right to acquire Rosego's 25% shareholding in Monchegorskoe LLC upon the completion of a JORC Code compliant competent persons report on Nyud. It will be interesting to see how this shuffling of the pack actually pans out in terms of the mining of metal.
There has been somewhat less complicated fayre from Kavango Resources (KAV), a company targeting the discovery of world-class mineral deposits in Botswana. It has announced the identification of an electro-magnetic anomaly in the Target Area C in the Hukuntsi (northern) section of the Company's Kalahari Suture Zone Project. Designated Target C1 is located 11km from Target A2 which was first announced in April 2020. The Company now plans to drill a minimum of one hole in A2 and a minimum of one hole in C1 from the end of this month.
Over recent months it has been evident that e-commerce infrastructure payment solutions and platform provider, MobilityOne (MBO) has become something of a punters’ favourite, as most in the market have cottoned on to the pandemic induced online boom. The latest from the company is that it has announced an update on trading prior to release of its audited results for the financial year ended 31 December 2020. This has featured an unaudited revenue increase of 45.6% to £246.7 million (2019: £169.4 million) boosted by the mobile phone prepaid airtime reload and bill payment business in Malaysia.
NetScientific (NSCI) has been one of the big winners of June to date, with the share price effectively tripling at one point. The latest here from the international life sciences and sustainability technology investment and commercialisation Group, is that its portfolio company, PDS Biotechnology Corporation (Nasdaq: PDSB), has commenced an underwritten public offering of shares of its common stock. PDS Biotech said intends to use a portion of the net proceeds from this offering for the development of its clinical pipeline and working capital.
While it may be the case that Warren Buffett suggests that the stock market is a vehicle for transferring wealth from the impatient to the patient, it can be argued that this concept has been tested to its limit at Westminster Group (WSG). Here the shares have effectively flatlined for months. However, it may be the case that the log jam is finally broken in the wake of news that its Services Division has been awarded a long-term managed services contract to provide security services to 5 airports in the Democratic Republic of the Congo, Central Africa . Westminster Group said the signed contract will now undergo formal ratification in accordance with DRC government procurement requirements before meaningful activities commence.