Core Vct I Share Discussion Threads

[the chairman elect] 14/12/2022 08:00

Interim results for the six months ended 30 September 2022 (H1 FY 2023)



CyanConnode (AIM: CYAN), a world leader in narrowband radio frequency (RF) mesh networks, announces its interim results for the six months ended 30 September 2022 (H1 FY 2023).



John Cronin, CyanConnode Executive Chairman, commented:

"Revenue for the six months ended 30 September 2022 met our expectations. We have, in previous statements, spoken of the significant contracts secured so far this year and as a result revenue for the next quarter is expected to be at least three times higher than the first six months. The Board hopes that this success, which we have been working towards for some time now, is a sign of things to come. Consequently, we are pleased to confirm that we expect to meet market revenue forecasts for the full financial year ended 31 March 2023.



"Despite a delay to tenders until India's Prime Minister, Shri Narendra Modi PM, launched the power sector's Revamped Distribution Sector Scheme, (RDSS) in August 2022, CyanConnode was delighted to announce its first order for one million Omnimesh Modules from India. However, at the same time tenders were delayed until India's Prime Minister, Shri Narendra Modi PM, launched the power sector's Revamped Distribution Sector Scheme, (RDSS) in August 2022. As we have previously highlighted, the 'Collection Efficiency' of not less than 98%, as set out in the RDSS and which CyanConnode Omnimesh achieves, favours our technology for network communication and management and as a result our partners are currently busy tendering for more than 75 million Smart Meters. CyanConnode therefore expects to announce material orders from India in due course.

"As well as the positive news flow from India, further substantial orders were also received from new territories during the period, including orders from the Middle East and North Africa (MENA) region worth over USD 9 million.



"Our recent win rate from contracts tendered has been 27% in volume (this financial year) and installed rate is circa 25%. CyanConnode is currently bidding for contracts worth more than £1 billion in value. Our Partners have recently been named as Level 1 status for greater than 25 million units, which, whilst we don't expect to win all of them, suggests a bright future and we look forward to making further announcements in due course."

[the chairman elect] 13/12/2022 20:03

Tirupati Graphite (LSE:TGR), the specialist Graphite and Graphene company with two operating assets in Madagascar and a value chain developed by inhouse engineers has completed an oversubscribed private placement of £5,000,000 at 35 pence per share.

The proceeds of the fundraise are primarily in order to complete the highly anticipated acquisition of Suni Resources, a subsidiary of Battery Minerals (ASX:BAT), which holds two highly valued flake Graphite assets in Mozambique. Consideration for the agreement is a mix of cash and shares for a sum of AUD $12,500,000.

The Mozambique assets, Montepuez and Balama Central, will increase Tirupati's total JORC compliant resource 12 times for 152,000,000 metric Tonnes of 8.5% total Graphite content. The two assets contain small to medium flake Graphite, an integral aspect of various electrical components including electric vehicles, with demand expected to soar as ESG trends continue.

Tirupati Graphite's target price, post-acquisition of Suni Resources, has provided a large upside on the previous outlook put in place by Optiva Securities, we now estimate the long-run, unrisked NPV to be £314,700,000 (£2.79 per share) and the long-run risked NPV to sit at £173,300,000 (£1.54 per share). Our stated 12-month target share price is to be 80 pence per share.

[daniel levi bmd] 12/12/2022 08:00

Posted late last night.

If you missed it.

FYI

Balochistan The Last Great Onshore Oil, Gas & Mineral Resource Play On The Planet.... Coro Energy *BUY*


Dan
x

[the chairman elect] 12/12/2022 07:50

HEMO-CAR-T First Process Qualification Run Completed

Hemogenyx Pharmaceuticals plc (LSE: HEMO), the biopharmaceutical group developing new therapies and treatments for deadly blood diseases, is pleased to announce the successful completion of its first Process Qualification ("PQ") run of the end-to-end process for the manufacture of HEMO-CAR-T cells. This PQ run is one of a minimum of three identical manufacturing runs required for the submission of the Investigational New Drug ("IND") application to the US Food and Drug Administration ("FDA"). The process was carried out in the Company's current Good Manufacturing Practice ("cGMP") compliant clean rooms. It was followed by a battery of analytical release tests required to verify the quality of the manufactured HEMO-CAR-T cells.

This is another step for the Company in its preparation of the IND application to the FDA required to authorize commencement of Phase I clinical trials of HEMO-CAR-T.

[the chairman elect] 12/12/2022 07:31

Block Energy plc / LSE:BLOE

Farmout Agreement

Block Energy plc, the exploration and production company focused on Georgia, is pleased to announce that binding documentation has been entered into with Georgia Oil and Gas Limited ("GOGL") with respect to a farm-out of part of the Company's XIB licence.

Highlights:

· Binding documentation entered for a 50% farmout of non-core areas of licence XIB to Georgia Oil and Gas Limited ("GOGL")



· Farmout terms amount to a work programme with an estimated value of USD 3.0 million comprising USD 2.5 million for a 2D seismic acquisition and USD 0.5 million for seismic reprocessing



· Portions being farmed out are exploration areas that would have been subject to relinquishment in 2024, and now form part of Block's new Project IV



· None of the existing fields, current production and future development plans associated with Projects I, II and III within the XIB licence are subject to the farm-out and the transaction will have no impact on Block's operator status across its existing production areas



· Farmout will advance Block's exploration opportunities through a sizable work programme commitment from GOGL at no cost to Block



· Future associated cash liability is capped at USD 50,000 per annum net to Block until further major capital works (3D seismic/drilling) are committed to by either GOGL or third-party farminee



· GOGL is the largest exploration company in Georgia and holds acreage of over 13,200 km2 within various PSCs



Farm-Out

Block's XIB licence covers a total area of 614 km2 and includes the Patardzeuli, Samgori, Teleti and Rustavi fields which have produced more than 180 MMbbl of oil.

The portions of XIB that are subject to the farm-out are exploration-focused, form part of Block's newly established Project IV, and do not include any of the areas currently in production. They include a 103km2 section in the north of the licence (bordering licences XIM & XIQ) and a 148km2 area in the southeast of XIB (bordering licences XIH and XIL). The northern section will now be known as the "Didi Lilo" area and the southeast section will now be known as the "South Samgori" area as shown in the map below:



None of the existing fields associated with Project I, II and III within the XIB licence, are subject to the farm-out and the transaction will have no impact on Block's existing production base or operator status across all existing fields.

Transaction Summary

Under the terms negotiated, Block and GOGL will each have a participating Interest of 50% in the respective areas. As consideration for the farm-out, GOGL is to complete a work programme, across Didi Lilo and South Samgori, which comprises:

- The acquisition and processing of 210 km of 2D seismic data

- The reprocessing of 1,000 km existing seismic data, within and around Didi Lilo, South Samgori and the remainder of XIB

The cost of the work programme is estimated at USD 3.0 million, comprising USD 2.5 million for seismic acquisition and USD 0.5 million for seismic reprocessing.

Under the industry-standard Joint Operating Agreements ("JOAs") that have been negotiated, the annual gross budgets will not exceed USD 100,000 (USD 50,000 net to Block) per annum, until either GOGL or a third-party farminee elects to acquire a 3D seismic survey over the area and /or drill a well.

Block will retain the optionality to either benefit from a carry, fund its share of any future 3D survey/drilling or further farm-down its interest in the licence areas. Industry-standard sole-risk provisions are present in the JOA.

Rationale

The farm-out advance's exploration opportunities through a sizable work commitment from GOGL at no cost to Block. Future cash liability associated with Didi Lilo and South Samgori is capped at USD 50,000 per annum net to Block until further major capital works (3D seismic/drilling) are committed to by either GOGL or a third-party farminee.

GOGL is the largest exploration company in Georgia and holds acreage of over 13,200 km2 within various PSCs.

In 2022, as part of Georgia's drive to achieve energy independence, GOGL received a cash equity investment from Georgia Oil and Gas Corporation ("GOGC"), the state-owned national oil company, to progress high-impact and strategic exploration activities within its portfolio, including the acquisition of 2D seismic, ahead of facilitating farm-in discussions with NOCs and IOCs across the region.

The focus of GOGL is on maturing large, strategically significant gas and oil exploration and appraisal targets within its portfolio, north and south of Block's Samgori oil field.

The contractor for the acquisition of the 210 km 2D seismic data over Didi Lilo and South Samgori is Geofizyka Torun S.A., a subsidiary of the Polish Oil & Gas Company PGNiG SA ("PGNiG"), which has recently merged with Orlen Group, a fully integrated oil company with a market capitalisation of c. USD 16.5 bn.

GOGL & Geofizika Torun S.A interpret the Norio Deep prospect/play to extend to within the Dido Lilo Area. This is a Middle/Upper Eocene prospect/play. GOGL also interpret the Nakarala prospect/play to extend into the South Samgori Area.

The Dido Lilo and South Samgori Areas have been assigned a risked (P50) Resource of over 400MMboe by GOGL and its technical partners.

GOGL is involved in advanced detailed farm-out discussions with national and major oil companies around a farm-in to the Dido Lilo and South Samgori Areas.

Commenting, Paul Haywood, Block Energy CEO said:

"This farm-out enables Block to combine and progress advanced exploration opportunities (800 MMBOE) with a capable and well-qualified operator, at de minimis cost, whilst allowing it to continue to focus on its core production and appraisal-led three Project strategy. This high-impact exploration opportunity also compliments the existing portfolio with very substantial upside which continues to attract the attention of major oil companies across the region.

GOGL have committed to a significant work programme that supports this exploration opportunity. The commitment to acquire and reprocess existing seismic on XIB will also complement our work within Projects I, II and Project III. The Company looks forward to working with GOGL, in the Didi Lilo and South Samgori Areas, as well as on a larger farm-out strategy led by GOGL."

[the chairman elect] 09/12/2022 10:40

London listed Tirupati Graphite / LSE:TGR - looks as though there could be a buying opportunity @ TGR to buy in at or just below the 35p placing price....

[the chairman elect] 07/12/2022 14:20

London listed Tirupati Graphite / LSE:TGR

Looks as though there could be a buying opportunity @ TGR to buy in at the 35p placing price....

Keep 'em peeled....

[the chairman elect] 06/12/2022 07:23

United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas

Commencement of drilling ASW-1X exploration well in the Abu Sennan licence, onshore Egypt.

Following mobilisation of the Sino Tharwa-1 rig to site, the operator of the Abu Sennan licence, KEE, has notified the Joint Venture ("JV") partners that the ASW-1X well has commenced drilling.

This exploration well is the fifth and final well to spud in the 2022 drilling campaign and is targeting un-risked mean recoverable resources estimated by United at c. 8 mmbbls gross in multiple reservoirs.

The ASW-1X prospect has been de-risked by the HF36-5X discovery made in an adjacent block in 2020, and by the results of the 2022 seismic reprocessing on the Abu Sennan licence, which has provided improved imaging and definition of the ASW targets.

If successful, the well is expected to be quickly tied into existing facilities, adding additional production and revenue for the Company.

United Chief Executive Officer, Brian Larkin commented:

"The ASW-1X well is targeting significant recoverable resources across multiple separate horizons. This key exploration well fits with the JV's exploration strategy of not only directly targeting significant volumes, but also for the potential to de-risk a number of other similar structures in this part of the licence. In the case of a commercial discovery, ASW-1X would be completed as a production well and, subject to the granting of a development permit, be brought into production thereafter."

[the chairman elect] 05/12/2022 07:55

Tirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist graphite company developing sustainable new age materials , is pleased to announce it has raised gross proceeds of £5,000,000 [which was oversubscribed]

SPA Variation

TG is also pleased to announce that the Company and Battery Minerals Limited have agreed to the following variations to the acquisition agreement for TG to acquire the entire issued share capital of Suni Resources SA from Battery Minerals Limited, as initially announced on 17 August 2021 (the ‘Acquisition’):

●

TG shall make the payment of the Capital Gains Tax (‘CGT’) as assessed by Tax authorities in Mozambique in respect of the Acquisition amounting to approximately AU$2.5Million.

●

In consideration of TG making the payment of the CGT, the value of consideration shares to be issued to Battery Minerals Limited at completion of the Acquisition shall reduce to AU$9,750,000 with the new floor on the number of shares that can be issued to satisfy the consideration revised at 5,023,278 TG ordinary shares and the upper cap revised to 10,046,556 TG ordinary shares covering circa 50% of the CGT to be paid.

●

In consideration of the balance of 50% of the CGT to be paid by TG, TG shall retain the right to the VAT refundable to Suni by tax authorities expected to amounting to approximately AU$1,500,000.

●

Failure of TG to fund the CGT payment within the due date post completion shall result in TG issuing additional consideration shares amounting AU$1,250,000.

●

In consideration of the balance of 50% of the CGT to be paid by TG, TG shall retain the right to the VAT refundable to Suni by tax authorities expected to amounting to approximately AU$1,500,000.

●

Failure of TG to fund the CGT payment within the due date post completion shall result in TG issuing additional consideration shares amounting AU$1,250,000.

Use of Proceeds

The Fundraise has been undertaken to provide the Company the required financial resources to meet all its obligations to complete the acquisition of Suni Resources SA amounting to c. £3,500,000 and provides working capital for the Company to progress its activities and developments. A letter of comfort has been issued by Instituto Nacional de Minas de Moambique (‘INAMI’) advising that it is its intention to provide the transfer approval under the Mining Law Regulation following the provision of a Bank Guarantee of 76,388,218 Meticais (MT) (approximately £972,000) required to be furnished by Suni Resources S.A to in relation to the grant of a mining concession for the Balama Central Project owned by Suni Resources S.A. and settlement of the CGT with the tax authorities. Following the Fundraise the Company and Battery are well placed to progress the completion of the transaction.



Shishir Poddar, CEO of Tirupati Graphite, said:

We are delighted to have received institutional and other investor support for the fundraise, which provides us with the financial resources to meet the obligations towards the completion of the Suni transaction.

The Balama Central and Montepeuz projects which are held by Suni Resources, are both fully licensed for construction to 150,000 tpa flake graphite production capacity. At Montepuez construction of the first 50,000 tpa module was initiated by Battery with plant development and tailing pond construction completed and base camp residential facilities for 100 persons built. The c. 152 million tons of JORC 2012 reserves and resources established in the two projects amount to more than 13 million tons of contained high quality flake graphite in the ground in a locality that hosts one of the world’s largest operating flake graphite projects. As such, this acquisition is transformational for the Company in progressing towards its aim of being a key source of flake graphite for the energy transition economy.

As we progress towards completion of the transaction, we intend to further optimising the development plans for the Balama Central and Montepuez projects. We are excited to now be in a position to push on with the completion of the Suni acquisition which will enable us to add these projects into the TG portfolio and believe the acquisition of these projects will put the Company in a strong position to progress its ongoing discussions with the electric vehicle sector in addition to others.

[the chairman elect] 03/12/2022 12:00

London listed Morocco focused POTASH play namely Emmerson Plc / LSE:EML

New presentation from EML just out....

hxxps://www.emmersonplc.com/wp-content/uploads/2022/12/EML-Dec-22-final.pdf

On the ESIA, 3rd draft submitted in July: "Met with technical authorities on 28 October 2022 who confirmed only minor finalisations required to complete the submission."

[webshares] 28/11/2022 15:45

Check out UFO. Seller bought out by board and staff. Recovery imminent

[noirua] 28/11/2022 14:08

Closed out remaining EVG for a 4% profit.

[noirua] 28/11/2022 14:04

Doubled holding in C4XD at just under 24p.

[noirua] 28/11/2022 09:59

C4X Discovery Holdings PLC C4XD Agreement with AstraZeneca


RNS Number : 6974H - C4X Discovery Holdings PLC
28 November 2022

C4XD signs exclusive global licence worth up to $402 million(1) with AstraZeneca
for the development and commercialisation of NRF2 Activator programme

C4XD is eligible to receive upfront and pre-clinical payments of $16 million, plus development and commercial milestones, and tiered mid-single digit royalties

Agreement further substantiates C4XD's scientific expertise and strategy through a third significant deal with a major pharmaceutical company

C4X Discovery Holdings plc (AIM: C4XD), a pioneering Drug Discovery company, has signed an exclusive worldwide licensing agreement with AstraZeneca worth up to $402 million(1) , for its NRF2 Activator programme. AstraZeneca will develop and commercialise an oral therapy for the treatment of inflammatory and respiratory diseases with a lead focus on chronic obstructive pulmonary disease (COPD).

Under the terms of the agreement, C4XD will receive pre-clinical milestone payments worth up to $16 million ahead of the first clinical trial, including $2 million upfront. In addition, C4XD is eligible to receive a further potential $385.8 million in clinical development and commercial milestones and tiered mid-single digit royalties upon commercialisation.

[noirua] 28/11/2022 09:01

Bought C4XD for average 26.95p.

[the chairman elect] 26/11/2022 09:40

STOCK of the week:

London listed POTASH play namely Emmerson / LSE:EML

[the chairman elect] 23/11/2022 14:09

plus @ HE1 / LSE:HE1

[blackbear] 23/11/2022 14:08

XPD on the move mcap 35m profits expected 9mln on last update.

[the chairman elect] 23/11/2022 14:05

Ditto @ FRG

LSE:FRG

[the chairman elect] 23/11/2022 14:04

STOCK WATCH over @ BIDS

LSE:BIDS

[noirua] 23/11/2022 14:00

FRG is a different matter I think though I'm expecting a bumpy ride.

[noirua] 23/11/2022 13:58

I've sold half my holding in EVG for a £1.32 profit.

[noirua] 23/11/2022 11:51

EVG continuing its slow recovery. No new reason why except shares may have been recognised as being sold down.