Proactive news snapshot: Feedback, Pan African Resources, Nuformix, FastForward Innovations …


Feedback PLC (LON:FDBK) said it hopes to convert the results of a pilot study of its new app for doctors into “meaningful contracts”. Bleepa allows medical-grade images to be shared securely on phones and tablets. Early indications from a trial at the Pennine Acute Hospitals NHS Trust have been “positive” with average time to inpatient referral more than halved thanks to the technology.

Pan African Resources plc (LON:PAF) boosted gold sales by 13.6% to 90,602 ounces during the six months to December 2019. Gold production increased by 14.7% to 92,941 ounces, primarily due to a boost in output from the Evander mine in South Africa.

Nuformix PLC (LON:NFX), the pharmaceutical development company using cocrystal technology to unlock the therapeutic potential of approved small molecule drugs has announced the appointment of Dr Karl Keegan as a non-executive director with immediate effect. The group noted that Keegan has over 25 years of experience working in senior roles in the life sciences industry and is currently chief executive officer at HOX Therapeutics Ltd, a private biotechnology company developing first-in-class, highly targeted cancer therapies based on HOX genes.

FastForward Innovations PLC (LON:FFWD) said an investee company has shipped 400 kilograms of medical cannabis to Israel. EMMAC’s crop came from the Terra Verde facility, in Portugal, and was sold to Bazelet Group. FastForward owns a 2.4% stake in EMMAC.

W Resources PLC (LON:WRES) has put in place a EUR5mln facility with Banco Santander, with the firm to use the money to repay an existing EUR3mln loan from Caja Rural de Extremadura and to provide a net EUR2mln of additional working capital and liquidity. The facility allows W Resources to monetise the majority of the EUR5.3mln grant from Junta de Extremadura Government, which the company had expected to receive in the first quarter of 2020 which it is likely to receive now until mid-2020.

AfriTin Mining Ltd (LON:ATM) has completed its first sale of tin concentrate from the Uis tin mine in Namibia. A second shipment of tin concentrate has also been dispatched.

Conroy Gold and Natural Resources PLC (LON:CGNR) has raised GBP302,500 through a share placing and subscription. The proceeds will be used to support exploration work at Clontibret, Clay Lake and Glenish which are located along the Orlock Bridge Fault in Ireland.

Angling Direct PLC (LON:ANG) told investors it expects to report a 26.5% increase in revenue for the financial year. In a pre-close trading update, the firm said revenue is expected to amount to GBP53.1mln compared to GBP42mln in the preceding year. In-store sales rose by 41.3% to GBP27.9mln as the fishing products retailer added ten new stores to its portfolio. It ended the year with 34 stores and in January it added one more.

Panther Metals PLC (LON:PALM) has lodged applications for four exploration permits covering its Big Bear gold project in Ontario, Canada, which will allow it to begin a core drilling programme. A plan is also being drawn up for a geophysical survey to be carried out in the coming months at Big Bear, which is situated near the town of Schreiber not far from the northern shore of Lake Superior, and covers 46 square kilometres on the highly prospective Schreiber-Hemlo greenstone belt.

BlueRock Diamonds PLC (LON:BRD) has raised GBP1.9mln in an oversubscribed placing and subscription to fast track a doubling of production at its Kareevlei mine in South Africa. The AIM-listed miner said it had issued around 2.2mln new shares at a price of 85p each, a 12.8% discount to its closing price on Monday.

Silence Therapeutics PLC (LON:SLN), a leader in the discovery, development and delivery of novel RNA therapeutics for the treatment of serious diseases, today announces that Dr. Rob Quinn, its chief financial officer, will present at the Cowen 40th Annual Health Care Conference in Boston on Monday, March 2, 2020 at 4:10 p.m. EST (9:10 p.m. GMT). A live webcast of the presentation can be accessed via the Investors section of the company’s website and an archived replay of the webcast will be available for 60 days after the conference.

Faron Pharmaceuticals Oy (LON:FARN) (FIRSTNORTH:FARON) shares jumped on Tuesday after the company’s chief executive indicated the firm has secured third-party financing for a second phase III study of its Traumakine treatment for acute respiratory distress syndrome (ARDS). In an interview with Proactive on Monday, Dr Markku Jalkanen said the firm had “an understanding that we have third-party financing for the trial”, however, he did not disclose the exact source of the funding.

Ethernity Networks Limited (LON:ENET), a leading supplier of data processing offload solutions on FPGA (field programmable gate array) for virtualised networking appliances, has announced the appointment of PRO (The PR Office) as its retained financial PR and IR adviser. The group said the appointment will ensure Ethernity Networks is supported with its financial communications as it seeks to explain to investors the market opportunity for its ground-breaking network circuit technology.

Clear Leisure PLC (LON:CLP) has entered into a new unsecured loan facility agreement with Eufingest SA. Under the new facility, Eufingest will provide the firm with EUR150,000 at an interest rate of 2.5% per annum, repayable on 30 June 2020. The proceeds of the new facility – which is in addition to existing loans provided to the company by Eufingest — will be used for working capital purposes. Eufingest is a substantial shareholder of the company.

Berkeley Energia Limited (LON:BKY) said that at its General Meeting held on Tuesday all resolutions voted on were carried by way of a poll.

Proactive Research has issued a note on Itaconix (LON:ITX) (US OTC:ITXXF) after the firm announced an expansion of its existing agreement with New Wave Global Services, in the field of dishwashing formulations. Analyst Ed Stacey said: “We estimate that this could generate up to US $1.5mln of incremental revenue over and above Itaconix’s existing business with New Wave, heavily weighted toward 2021.”

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