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Scancell comments on sharp share price increase

Scancell Holdings PLC (LON:SCLP) soared 55% to 21.25p, prompting the company to put out a statement about the share price movement.

The developer of novel immunotherapies for the treatment of cancer and infectious disease noted the recent press coverage and the share price increase and referred shareholders to its interim results statement of January 29, where it gave a full update on the COVIDITY program and the goal of starting a Phase 1 clinical trial, to determine the safety and immune responses to the vaccine, as soon as possible during 2021.

READ Scancell Hlds – Interim Results

Subject to the result of the Phase 1 clinical trial future studies would be undertaken to establish efficacy, Scancell told shareholders.

2.30pm: Bluejay Mining flying high after provisional funding offer for the Dundas Ilmenite Project

Bluejay Mining PLC (LON:JAY) jumped 23% to 11.3p after its subsidiary, Dundas Titanium, received an offer of debt financing.

Dundas Titanium A/S has received a letter of interest from the Export-Import Bank of the United States for a provisional sum of around US$208mln in debt funding for the capital requirements of the Dundas Ilmenite Project.

Any potential debt financing would be eligible for a maximum repayment term of 8 years 6 months, Bluejay said.

1.35pm: Primorus slumps after quarterly update

Primorus Investments PLC (LON:PRIM) shares lost a tenth of their value at 4.05p after its quarterly investor update.

The decline meant the investment company’s market capitalisation was GBP6.3mln, compared to the value of its cash and listed investments, which has been put at GBP4.8mln.

The new management said it would be abandoning regular quarterly updates as it does not feel its investments are particularly liquid and therefore subject to much volatility.

12.40pm: IDE lower after non-exec quits

IDE Group Holdings PLC (LON:IDE) fell 5.3% to 1.8p after non-executive director, Sebastian White, quit with immediate effect.

The board intends to recruit a replacement non-executive director in due course.

11.45am: Mining, Minerals & Metals taking its time over its first acquisition

Mining, Minerals & Metals PLC (LON:MMM) slumped 22% to 9.5p after chairman Matthew Bonner quit the cash shell.

Another non-executive director, Andrew Monk, has also moved on but the company has added Johnny Smith, the chief executive of Sumner Group Mining, to its board.

The company has noted speculation about whether a reverse takeover transaction is being progressed and revealed there is not currently any specific acquisition in progress.

10.50am: Ebiquity on the comeback trail

Ebiquity PLC (LON:EBQ) climbed 9.1% to 20.9p after it said it returned to profitability in the second half of last year.

The marketing and media consultancy said it still expects to make a full-year operating loss, albeit a modest one.

The group’s net debt of GBP7.7mln at the end of 2020 was in line with expectations.

9.55am: MGC Pharmaceuticals expands its brain cancer research programme

MGC Pharmaceuticals Limited (LON:MXC) was 15% higher at 4.45p after it announced an expansion of its Glioblastoma research programme.

Its ongoing pre-clinical research programme into the use of cannabinoids in the treatment of aggressive glioblastoma brain cancer has been expanded to explore the use of nanotechnology concerning the most effective treatment delivery systems.

The delivery system is similar to the nanoparticle delivery system being used successfully in MGC Pharma’s ArtemiC clinical trial into the treatment of COVID-19.

9.00am: Wildcat Petroleum soars as it enlists services of entrepreneur Michael Edelson

Wildcat Petroleum PLC (LON:WCAT), which floated at the end of 2020, soared 69% to 1.65p after it appointed Michael Edelson as a senior business adviser.

The company, which is seeking to transform the way things are done within the petroleum industry with the implementation of block-chain technology, said Edelson has helped to float more than 20 companies during his career, one of which was ASOS.

The company will be drawing upon Edelson’s extensive experience and connections to help it source investment opportunities and develop business partnerships.

Oilex Limited (LON:OEX) jumped 29% to 0.1225p after it said it is close to resolving its dispute with the Gujarat State Petroleum Corporation (GSPC).

Oilex and GSPC are in advanced discussions where it is proposed that Oilex will acquire GSPC’s 55% participating interest in the Cambay production sharing contract.

Oilex added it is in advanced discussions with third parties to provide finance, including working capital, to Oilex should a sale be agreed.

Proactive news headlines

Synairgen PLC (LON:SNG) said dosing has commenced with its inhaled interferon beta product as part of a US Government-funded phase II/III coronavirus clinical trial.

Learning Technologies Group PLC (LON:LTG) announced it has agreed to acquire learning and talent development software provider Bridge for US$50mln (GBP36mln) using existing cash resources.

Sativa Wellness Group Inc (LON:SWEL) said it has submitted its novel food application for validation to the UK’s Food Standards Agency (FSA) ahead of the March 31 deadline as part of what it said is a “commitment to continually deliver the highest level of regulatory compliance and product quality”.

Zoetic International PLC (LON:ZOE) told investors that it is confident its careful approach to distribution would ultimately lead to better sell-through rates as it provided an update on the progress of its rollout of CBD products on both sides of the Atlantic.

Mode Global Holdings PLC (LON:MODE) said it will launch its novel payments and loyalty solution powered by Open Banking in the second quarter of 2021, which it said will provide merchants with “an alternative to rising card interchange fees” and boost loyalty amongst consumers.

DeepVerge PLC (LON:DVRG) has signed non-binding heads of terms with mass spectrometer maker Microsaic Systems to enter a multi-year framework services agreement through which DeepVerge which be appointed as a non-exclusive agent to promote the latter’s technologies.

SIMEC Atlantis Energy Limited (LON:SAE) said its tidal turbine and generation equipment has been successfully installed in the Goto Island chain in Japan.

Impax Asset Management Group PLC (LON:IPX) has acquired the remaining 16.7% of Pax World Management LLC that it did not already own.

AfriTin Mining Ltd (LON:ATM) has agreed a new offtake agreement for tin concentrate from the Uis mine in Namibia with its existing trading partner, Thailand Smelting and Refining Corporation (Thaisarco), as well as signing an inaugural offtake agreement with AfriMet Resources AG for its future tantalum production.

Strategic Minerals PLC‘s (LON:SML)(USOTC: SMCDY) 100%-owned subsidiary Cornwall Resources Limited has been notified that the ‘Deep Digital Cornwall’ project led by the University of Exeter’s Camborne School of Mines, in which Cornwall Resources and Cornish Lithium are delivery partners, has been awarded funding by the European Regional Development Fund. Strategic Minerals’ Redmoor exploration licence area will be used as a field laboratory for collection of geochemical and geophysical data, which will also provide information relevant to a number of new prospects.

Oracle Power PLC (LON:ORCP) has completed an initial soil sampling programme on its Jundee East gold project in the Eastern Goldfields region of Western Australia and has now commenced ground-based gravity surveying over key target areas.

United Oil & Gas PLC (LON:UOG) told investors that the ASH-3 production well at the Abu Sennan project, in Egypt, will begin initial testing in the coming days.

Oncimmune Holdings PLC (LON:ONC) achieved a sixfold increase in revenue in the six months to the end of November as it continued to establish partnerships with leading pharmaceutical and biotech companies in the key areas of oncology, autoimmune diseases and infectious diseases.

APQ Global Limited (LON:APQ) noted that, as at the close of business on January 31, 2021, its unaudited book value was 36.69 US cents (26.72p) per share.

Mosman Oil and Gas Ltd (LON:MSMN) announced that it has received notification to exercise warrants over a total of 10,000,000 new ordinary shares at a price of 0.15 pence per share. The exercise of the warrants will add A$27,000 of funds to Mosman’s existing cash reserves.

CentralNic Group PLC (LON:CNIC) notified that its preliminary unaudited results for the 2020 calendar year will be on March 1, with the audited annual report and accounts published towards the end of April.

Kromek Group PLC (LON:KMK) has posted a circular to shareholders in respect of its firm placing, directors’ subscription and open offer to raise up to GBP13mln.

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