The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Critical Metals PLC - London-based, Africa-focused investment vehicle, with a focus on the critical and strategic metals sector - Provides operational update on the company’s copper and cobalt asset in the Democratic Republic of Congo. Says 6,500 tonnes of oxide ore at an average grade of 3% mined to date, with mining focus accelerating to the high-grade sulphide zones - high grade ore samples above 8.3% copper. Adds latest mapping and geophysics programmes re-emphasise copper and cobalt potential. Further, notes potential buyers of ore are visiting the asset and the first sales are to be completed once transport infrastructure is complete. Explains the mobilisation for road rehabilitation and bridge building has started and is expected to be finished in by the end of May.
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Arrow Exploration Corp - Colombia-focused oil explorer - Provides update on the drilling of Carrizales Norte 1, an exploration well on the Tapir Block in the Llanos Basin of Colombia. Notes the well was spud on May 1 and reached total depth on May 11. The well was drilled to a total measured depth of 9,190 feet and encountered around 148 feet of net oil pay measured depth, company says. Further, adds a testing and completion programme is under review. Testing will be conducted over the following weeks, with production forecast to commence in early June.
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GENinCode PLC - biotechnology company focused on prevention of cardiovascular disease - Announces collaboration with the University Clinic Dresden, Department of Internal Medicine and Department of Human Genetics in Germany, to use its LIPID inCode test in primary care for the diagnosis of hypercholesterolemia, meaning high levels of cholesterol, and familial hypercholesterolemia. Points out LIPID inCode is the first polygenic product to be introduced in Germany to improve the diagnosis and treatment of hypercholesterolemia to prevent cardiovascular disease. Notes the collaboration follows the positive results of the LIPID inCode Dresden clinical study and pilot.
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Trident Royalties PLC - London-based mining royalty company - Enters sale and purchase agreement with Coeur Mining Inc to buy royalties and a milestone payment over the La Preciosa silver project owned by Avino Silver & Gold Mines Ltd in Mexico. Notes the royalty assets comprise: 1.25% net smelter return royalty covering the Gloria and Abundancia veins; 2.00% gross value return royalty covering all other areas of La Preciosa; and a $8.8 million milestone payment payable within 12 months of first silver production at La Preciosa. Trident will pay $7 million in cash and a further $1 million, in cash or shares upon receipt of the milestone payment. Chief Executive Adam Davidson says: ‘La Preciosa is expected to start generating cash for Trident in the near-term, further adding to the rising cash profile that we see over the coming years.’
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Oxford BioDynamics PLC - Oxford-based biotechnology firm focused on discovery and development of epigenetic biomarkers - Announces the publication in the journal Cancers of an expanded validation supporting the use of its EpiSwitch CiRT test across the majority of widely used anti-PD-1/L1 checkpoint inhibitor monotherapies. Notes in this peer-reviewed study, prospective clinical trials representing 280 treatments with immune checkpoint inhibitors were used to develop, verify and validate a predictive assay comprising the eight 3D genomic biomarkers used in CiRT. Adds the blood-based biomarker assay achieved high accuracy (85%), sensitivity (93%), specificity (82%), and NPV (97% negative predictive value) across 14 plus broad oncological indications, including melanoma, head and neck, lung, pancreas, prostate, liver, colon and breast cancer.
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