Anglesey Mining (LON:AYM) (AYM 29.5p/£45.2m)
Anglesey’s 41 per cent owned associate company and Toronto Stock Exchange listed Labrador Iron Mines Holdings is now well underway with the mobilisation and construction of the Schefferville Area Iron Ore plant following receipt of the last two operating permits (a certificate of approval for mine operations and an interim operating permit for the use of the recently installed rail spur line). This follows the recent award of a mining certificate approving the construction of the Company’s mining facilities, and agreements with the Quebec Innu and the Naskapi Nation. The plan is to finish construction prior to the year end.
Avacta Group Plc (LON:AVCT) (AVCT 0.68p/£9.69m)
Avacta has granted to EV (Medical Screening) Limited the exclusive worldwide rights to its laser breath diagnostics technology in return for a 10 per cent royalty on net sales of products developed using its technology. EV aims to become a leading breath diagnostic company and is focused initially on providing a non-invasive method of screening and monitoring treatment for diabetes – which Avacta estimates is a multi-billion dollar market.
For a company with limited financial resources, and therefore little hope within any reasonable time of developing itself an application targeting the potential demand in this application area, the management should be applauded for this deal - despite the fact that it has taken them so long to get to this point. Time will tell whether they have got into bed with the right development partner and whether the exclusive nature of the agreement will not limit the level of revenue generated. Shareholders must hope that EV has both the resources and the capabilities to exploit this technology to the maximum, bring its testing products to market within the expected two years, and ahead of any competition. We remain cautious for these reasons as well as those stated in our previous comment.
Cyprotex (LON:CRX) (CRX 6p/£13.42m)
Cyprotex have been selected by The Global Alliance for TB Drug Development (TB Alliance) to work with it in the effort to overcome the global tuberculosis (TB) epidemic.
Cyprotex's in vitro and in silico ADME Tox technologies will be utilised to help accelerate TB drug discovery. Cyprotex's unique Cloe® Screen platform uses…
