TRADING UPDATES: Cora Gold shareholder Eagle Eye restructures holding
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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Cora Gold Ltd - West Africa-focused gold developer - Announces that its largest shareholder, Eagle Eye Asset Holdings Pte Ltd intends to restructure its stake. Eagle Eye is to transfer its 30% stake to its subsidiary, A2MP Investments FZCO, a platform established to hold all of its African mining and minerals processing interests. Eagle Eye is currently a 97% shareholder of A2MP with 2.7% being held by FEDA Mining Investments Ltd. Cora understands that there is no change of Eagle Eye's plan, strategy and intentions regarding the shareholding or stream arrangements with the company. Completion is expected to occur by the end of June 2027. In addition, Cora Gold provides further drill results from the ongoing 2026 mineral resource estimate growth drilling programme at the Sanankoro gold project in southern Mali. The drill programme aims to unlock the broader long-term potential of the project through an extensive resource growth and exploration programme, targeting both extensions to existing deposits and a number of highly prospective near-mine greenfield targets. Says the results continue to show the continuous nature of mineralisation and gold grade, while new intervals of mineralisation were intersected along the interpreted extensions of the 'blind' western zone, providing a key resource growth target in the future. The programme was 89% complete at the end of September and remains ongoing, with the diamond drill rig now onsite to complete deeper holes at Zone B, firm says. Chief Executive Bert Monro says: "It's exciting to see the targeted drill programme intersect extensions to the relatively untested western zone. This is significant because any new resources defined at this zone will also help deepen the resources in the main zone by decreasing the strip ratio. These results build on the encouraging initial assays from Zone B. With assays pending from six drill areas and diamond drilling just starting, we believe that we are only just beginning to tap into the immense exploration potential at Sanankoro."
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US Solar Fund PLC - investor in utility-scale solar power plants across North America - Announces an update on the disposal of its portfolio of solar assets. Says detailed diligence has materially progressed, with a number of significant milestones concluded including seeking advice on the current timing of any required regulatory approvals. But its US legal counsel has advised that Federal Energy Regulatory Commission regulatory approvals timelines in the US have recently extended and, based on current comparable processes, may take up to five months. US Solar Fund says it has agreed to extend the exclusivity period by a further 30 days which will now expire on November 15. The extension has been granted in order for the buyer to undertake further diligence on the performance of recently remediated assets. This decision has been taken in preference to an earn out or similar structure that would introduce additional complexity in the transaction.
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Invinity Energy Systems PLC - London-based manufacturer of utility-grade energy storage systems - Intends to raise a minimum £20.0 million via a subscription and institutional placing at 10p per share. It also plans a retail offer at the same price. Invinity says it has received strong indications of interest from existing shareholders and potential new investors. The placing is being arranged by Canaccord Genuity Ltd, Panmure Liberum Ltd and VSA Capital Ltd.
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Nuformix PLC - London-based pharmaceutical development company focused on fibrosis and oncology via drug repurposing - Provides a further update on NXP002, its lead programme and a potential novel inhaled treatment for idiopathic pulmonary fibrosis, progressive pulmonary fibrosis and other progressive fibrosing interstitial lung diseases. Says positive results from NXP002's pilot inhaled target engagement study demonstrate statistically significant modulation of TGF-β/SMAD signalling, a clinically relevant pathway central to pulmonary fibrosis progression. A pronounced suppression of pSMAD/SMAD is observed at the lowest dose studied, with statistically significant reductions at multiple timepoints across three dose levels. Nuformix says the results strengthen the development rationale for NXP002 and help define dose ranges for subsequent studies as the programme progresses towards IND-enabling studies. Prospective partnering discussions continue following meetings at the European Respiratory Society Congress, with the company sufficiently capitalised to complete its currently planned development programme, it says. Executive Director Dan Gooding says: "We are extremely pleased with these results. Modulation of TGF-β/SMAD signalling is precisely the mechanistic evidence we wanted this pilot study to generate, and it is particularly encouraging to see a pronounced, statistically significant response even at the lowest dose studied."
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Theracryf PLC - Cheshire, England-based pharmaceutical firm focused on cancer and brain disorders - Announces the successful completion and final reporting of the 28-day regulatory toxicology studies in two species for its lead orexin-1 receptor antagonist programme. These provide the final preclinical data required to support the application in November to conduct a first-in-human Phase 1 study in Australia. Theracryf says the studies produced results that substantially exceeded the company’s expectations and support progression towards a first-in-human Phase 1 study. Ox-1 was extremely well tolerated, with no adverse findings at any dose tested, firm says. The highest dose tested was around 70 times the dose anticipated for human therapeutic use, substantially exceeding the tenfold safety margin regarded as the 'gold standard' for drug development and well above that generally considered acceptable by regulatory authorities. Chief Executive Huw Jones says: "These toxicology results exceed our expectations and mark an important milestone for our Ox-1 programme."
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Hemogenyx Pharmaceuticals PLC - London-headquartered biopharmaceutical company focused on treatments for blood diseases - Announces that it has entered into a feasibility study agreement with Nitto Denko Corp, the Japan-based manufacturer of high-performance materials. Under the deal, the parties will evaluate whether Nitto's cell-targeted lipid nanoparticle drug delivery technology can deliver Hemogenyx's messenger RNA encoding its FLT3-targeting chimeric antigen receptor to human T cells. The study is the company's first step towards an in vivo CAR-T approach, in which a patient's T cells are reprogrammed inside the body by an injectable medicine rather than engineered individually in a manufacturing facility. The study combines Hemogenyx's proprietary FLT3-CAR mRNA with Nitto's ctLNP technology; each party retains ownership of its own technology and is expected to around four months. The company's ongoing phase I clinical trial of HG-CT-1 in relapsed/refractory acute myeloid leukemia is unaffected and remains its principal focus.
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RC365 Holding PLC - payment solutions and fintech company, which operates primarily in east and southeast Asia - Wins an additional development contract worth HKD2 million, around USD250,000, with an existing client of its Wealth Management System. The contract with Blacksilver Trust (Hong Kong) Ltd follows its onboarding to the platform, announced in September, and expands the relationship through securities-firm connectivity, card-system integration and development of a mobile application experience. The contract provides additional one-off development fees, separate from and in addition to the recurring monthly software-as-a-service fees payable under the existing five-year strategic partnership.
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