Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
24 February 2022
Block Energy plc
("Block" or the "Company")
JKT-01Z Update
Highlights
· Production remains stable at well JKT-01Z at 310 boepd
· Gas produced from the well is already being sold
· Plans for the fully funded sidetrack of WR-B1 remain on track
Block Energy plc, the exploration and production company focused on Georgia, is pleased to announce production from well JKT-01Z continues at a current rate of 310 boepd, comprising 182 bopd and 21,800 m3 (128 boe) of gas per day. It is encouraging to note, after over a month of production data, well productivity is consistent with pre-drill forecasts.
As planned, gas production from the well was rapidly tied into the previously installed gas infrastructure to enable early monetisation.
Plans for the drilling of the previously announced side-track at well WR-B1 are well advanced, with long-lead items having been ordered. The well is being funded from existing cash from current production.
Block Energy plc's Chief Executive Officer, Paul Haywood, said:
"Continued stable production from JKT-01Z has added to our confidence in the updated geological model, derived from the integration of the data acquired from the drilling of WR-B1 and other wells. We now look forward to the drilling of the planned side-track at WR-B1, with the aim of delivering production more in line with initial expectations. I would like to take the opportunity to reassure investors that operations in Georgia remain unaffected by the wider geopolitical tensions and the Board remains confident there will be no disruption due to any existing or potential sanctions or restraints of trade imposed."
Paul Jeffs (Block's Reservoir Engineer) has reviewed the reserve, resource and production information contained in this announcement. Dr Jeffs has PhD and MSc degrees in Engineering from Imperial College, London and is a Chartered Engineer with 40 years' experience in the Oil and Gas Industry.
In November Avacta reported that the US Food and Drug Administration (FDA) had approved its Investigational New Drug (IND) application for AVA6000, allowing the company to expand its Phase I clinical trial, ALS-6000-101, into clinical trial sites in the US. The company has begun recruiting and dosing patients for this study at several clinical trial sites in the UK, and continues to expect the dose escalation phase for this trial to complete by Q2 2022 followed by completion of the dose expansion phase around mid-2023. Earlier this month Avacta said the first-in-human Phase I trial of AVA6000 Pro-doxorubicin was set to advance to the next dose cohort following a positive review of the safety data from the dosing of the first cohort.
Avacta’s diagnostics division uses the company’s platforms to develop diagnostic tests. The first, the AffiDX SARS-CoV-2 Antigen Lateral Flow Test, intended for professional use rather than self-testing, has been validated to test accurately against all emerging Covid variants, including Delta. The company claims ‘key performance benefits’ that ‘allow Avacta to competitively maintain … prices above that of cheaper tests’, including results detection within 20 minutes, and comfortable sample collection through mild nasal swabbing.
The group is hoping to tap a lucrative new Covid diagnostics market which it believes ‘will become a seasonal testing market similar to that for influenza’. Last year the total global SARS-CoV-2 antigen test market size was valued at $5.3bn and is expected to expand at a CAGR of 6.7pc from 2021 to 2027. Avacta’s test achieved ISO13485 accreditation last summer. Sales to the UK market are currently on pause due to a tightening of UK regulations that require the growing range of Covid tests to undergo further evaluation. The company continues to work towards placing the product on the market in all 27 countries of the EU for professional use. Avacta has entered into an agreement with life sciences distributor Calibre Scientific for the sale of the test across the European Economic Area, and the UK. Sales efforts are focused on large businesses for workforce testing, and on a range of other users of professional use tests such as elite professional sports teams and the travel industry. Avacta is also working with additional distributors in the Asia Pacific region.
The company is also seeking to enter the self-testing market, which offers a significantly larger commercial opportunity than professional use testing. Late last year it reported that the AffiDX SARS-CoV-2 antigen lateral flow test had received a CE mark ‘from a European Notified Body’ for use as a consumer self-test in the UK and EU.
...The company’s leading Affirmer drug candidate AVA6000, based on the pre|CISIONTM chemotherapy platform, is a remodelled form of the industry-standard chemotherapy Doxorubicin. Doxorubicin is widely used to treat tumours but is imprecise, impacting the body beyond the tumour itself, making it uncomfortable and even toxic to certain patients. AVA6000 releases the drug’s payload into the tumour alone, thereby limiting body-wide exposure. Avacta believes that if AVA6000 can be proven to reduce the systemic toxicity of Doxorubicin in humans it has the potential to be applied to a range of other established chemotherapies.
The company’s near term aspiration is to enter the Doxorubicin market – expected to grow to $1.38bn within the next three years – through a licence deal that could generate an upfront payment of tens of millions of dollars. That would position it to roll out a series of innovations for the broader chemotherapy market, forecast to be worth more than $50bn by 2024. Avacta is carrying out human trials with a view to licensing AVA6000 as soon as possible: last summer the first patient was dosed in the company’s Phase I multi-centre trial, with the dose escalation phase expected to be complete by Q2 2022, followed by completion of the dose expansion phase by Q2 2023.
Avacta’s second most advanced cancer therapy is AVA3996, a ‘proteasome inhibitor’ which regulates cell-cycle progression. Like AVA6000 it is designed to address shortcomings of the established Velcade treatment, which generates significant side effects such as peripheral neuropathy. Scheduled for clinical development candidate selection by the end of 2022, AVA3996 could establish itself as a treatment for multiple myeloma and tumours such as pancreatic cancer, opening up a market estimated to be worth $1.7bn by 2023.
re....Jupiter had nearly 1.4% holdings in the company and so lost around £4.3 million in one day.
more good work:).....Open-ended funds also run by Jupiter’s small and mid-caps team, of which Chrysalis managers Richard Watts (pictured) and Nick Williamson are part, have also been hit as THG and fast-fashion online retailer Boohoo (BOO) have pulled back sharply.
Watts’ £3.3bn Jupiter UK Mid Cap fund, which had 6.2% in THG at the end of August, has lost 5% over three months, about 6% behind the wider UK market and placing in the bottom quarter of its sector peers. The timing of funds pricing means the latest falls are not included.
Jupiter as a group is the sixth-biggest holder of THG, owning around 6.3% of the shares, according to Refinitiv data for the end of March. The stock is also a significant 3% position in Daniel Nickols’ £1.4bn UK Smaller Companies fund.
Other UK-based funds with significant weightings in the stock include the BMO UK High Income (BHI) investment trust, whose shares were little changed, and the firm’s Select European Equity fund. Both run by Philip Webster, they had 4.4% and 2.4% positions respectively at the end of August according to Morningstar data.
Chrysalis’s corporate broker Numis calculated that, following recent weakness, yesterday’s tumble in THG shares would have taken a further 1.9% out of the portfolio’s net asset value (NAV).
Allowing for movements in all quoted holdings, including Wise (WISE), and performance fees, analyst Andrew Rees estimated the NAV stood at 226.9p per share, a 2% premium to last night closing price of 231p.
Rees said struggles at a high-profile unquoted holding – which also became its first stock – were ‘clearly disappointing’.
‘Given Chrysalis’s focus on high-growth businesses, we never expected it to always be plain sailing,’ he said, pointing out that small-companies lender Growth Street had already been wound down.
‘We would expect the situation with THG to rumble on for some time, and may add volatility to the NAV, albeit we estimate THG is now just a 3.6% position.’
THG, which has a trading update due on 26 October, told the market this morning there was ‘no notifiable reason’ for the scale of its share price fall.
Jupiter declined to comment.
https://citywire.com/funds-insider/news/chrysalis-and-jupiter-losses-mount-as-thg-crashes-after-chief-attacks-short-sellers/a1568247
Short sellers Sat 17:29 Wigscoff88
What I will say is, these chat forums are generally setup for investors to discuss a stock/company. Traders not so much, because as a trader you flip/flop over short timeframes with the trend (with very little concern over LT company direction) so don’t have much of worth to add to medium term discussion.
If people who hold short positions via (SB/CFD) suddenly flood a forum, especially in an AIM stock (where 99% of the volume is happening (not Nasdaq side)). They are probably a lot more concerned about their position than they make out, and/or there is something else burning behind.
If you are confident about your position, you don’t need to constantly bleet on and on, burning the same old record of boredom, day in day out, using your energy to convince random people you don’t know and don’t like, to believe you lol.
Listening to people like truant, and ADVNF bears, and twitter bears is nothing short of tedious.
‘We are trying to help you understand’, ‘the stock is going to 0’ blah blah
Some of the most moronic nonsense I’ve ever heard lol (and I’m mostly a trader by design (though an investor here)).
I would highly advise people to just stop interacting with them and stop responding.
I’ve charted 1000s of bios that capitulate hard into the abyss and break all time lows, and sit and simmer, and then boom. They can 10-100 bag in the blink of an eye. That’s how all bios operate.
They are big cash burning machines until they are not. All being said from an investment case 4D is the blink of an eye from a vaccine milestone (x 4-5 times market cap payment out of the blue), P3 blautix green light and possible partnership, 0518 biomarker news which could be a complete game changer for the entire sector and could make 4D an extremely likely takeover target. Any of the 3 data releases here can land at literally any time and each off potential of significant material price inflection.
And then you have the rest of the IP, the discovery platform, asthma, neurodegenerative etc etc
People need to stop feeding the monkeys on the board for your day win mental health lol.
Any investment carries risk. But if you know the investment case, and most of us do here, then you know what you own shares of.
The stock could get diluted down to 10p and could still roll over and be a multi-billion $ company in a flash, with an SP far higher than where we are.
Put your bananas away.
https://www.jupiteram.com/board-and-governance/
https://www.jupiteram.com/about-jupiter/esg-and-stewardship/
a few choice anglo saxon words spring immediately to mind on reading this cant ......pass the sick bag will suffice!.
....sadly it is no different from many other websites peddling the same.
...no bad thing to point this up to them however....the Chairman,who
Joined Jupiter in March 2020....might be a gd person to copy in ....some interesting marital connections there!
might a subtitled version be available?.....or a transcript ?
..what was the gist of of it?..ty
....Accounting non issue.;)
https://www.investorschronicle.co.uk/news/2022/02/17/rare-earths-set-for-rare-returns-as-demand-grows/
Mkango is a survivor of a broad downturn in the exploration sector a few years ago, but is not as far along in its plans as Pensana, targeting first production from its Songwe project in Malawi around 2025. The firm is also planning a rare earths processing hub in Poland, which the miner said provided “substantially lower operating costs than” other sites including those it visited in the UK. To compete with China, which offers VAT relief on internal rare earth sales. “You've got to have the lowest cost possible option”, explained chief executive Will Dawes.
What makes Mkango interesting for investors, however, is its strategy of ‘mine, refine, recycle’. A lynchpin of this approach is Mkango’s 42 per cent stake in private magnet recycling business HyProMag. The University of Birmingham spin-out has licensed a patented method using hydrogen to extract and break down rare earth magnets, and reprocess them back into functioning magnets, discovered by noted metallurgist Rex Harris.
Dawes told Investors' Chronicle that there is “probably the greatest potential for growth” in magnet recycling, since fewer than 3 per cent of magnets from end-of-life products such as cars, loudspeakers, and phones are currently recycled. HyProMag’s strategy is aiming to build a recycling facility at Tyseley Energy Park in Birmingham, while pursuing an expansion into Europe with a Germany-based subsidiary.
This could be a game-changer for the UK, since recycling could provide an “indigenous supply of rare earth metals” that the country lacks. Recycling uses 88 per cent less energy than mining and processing rare earths afresh, and results in typically only a 1 to 2 per cent weakening of the magnet’s power, according to HyProMag.
Pensana has some exposure to this trend, having announced a partnership last month with Equinor to recycle end-of-life magnets from offshore wind farms, but these turbines are very new and will likely not be available to begin recycling for another 10-15 years.
One thing looks certain. Without a sustainable supply of rare earth metals, the UK’s plans to become a leader in wind turbine and electric vehicle production could be just bluster.
Rare earths set for rare returns as demand grows
The 17 ‘rare earth’ elements have found themselves at the centre of a green technology arms race
February 17, 2022
By Madeleine Taylor
London miners Pensana and Mkango Resources plan to bolster ex-China rare earth production
Funding still a challenge but miners focus on higher long-term projected prices
Prime minister Boris Johnson drew scepticism in September 2020 when he promised to turn the UK into the "Saudi Arabia of wind", saying that turbines would soon supply every home with renewable power.
Aside from the fact that one turbine would need to be built every day until 2030 to realise this target, the plan failed to address another key component: the colossal 26,000 tonnes of rare earth elements needed to build these turbines in the first place. Rare earths – namely neodymium and praseodymium, the combination known as NdPr – are used for the magnets inside the turbines.
China holds a mostly-uncontested monopoly over the market for rare earths, producing an estimated 90 per cent of the world’s output, almost half of which is from a single mega-processing plant in Inner Mongolia. As these materials grow ever more important, the near-total reliance on Chinese production has begun to rankle with western governments. Last month a bill with bipartisan support was brought to the US Congress banning Chinese rare earth supply for defence applications from 2026, further encouraging new supply.
China has already flexed its muscles once by cutting off rare earth exports to Japan during a diplomatic spat in 2010, and recently hinted that it may look to limit all exports over the coming years as the country prioritises its own green energy transition. And with demand for NdPr magnets predicted to rise fivefold in the next eight years, finding new sources of rare earths is becoming a necessity.
A new generation of rare earth hopefuls is looking to do just that. Pensana (PRE), Mkango Resources (MKA), and Rainbow Rare Earths (RBW) are three London-listed suitors competing to build new supply chains of these critical minerals, independent of China.
It sounds like a winning formula. After all, the misleadingly-named rare earth elements are actually surprisingly common in the earth’s crust. Nevertheless, their tendency to exist at low concentrations and jumbled up with other elements makes finding a decent mine difficult. And given the rare earths industry’s history of spectacular booms and busts, it’s not hard to understand scepticism.
“It's an absolute graveyard in the industry,” said executive chair Paul Atherley in an interview with Investors' Chronicle. Many would-be miners fail to pass the funding hurdle.
So far, the only significant rare earth mining and separation facility outside of China is owned by Lynas Rare Earths (AU:LYC). The company ships its Western Australia-mined rare earth ores to its plant in Malaysia for separation, but has been fighting to keep thi
Justice Department Targets ‘Spoofing’ and ‘Scalping’ in Short-Seller Investigation
Muddy Waters’s Carson Block served with a search warrant in the probe of illegal trading tactics
https://www.wsj.com/articles/justice-department-is-pursuing-wide-ranging-investigation-of-short-sellers-sources-say-11645019122?mod=Searchresults_pos1&page=1
https://www.livemint.com/companies/news/us-eu-sanctions-on-russia-could-ensnarl-western-oil-companies-11643552079356.html
LONDON : Some of the West’s biggest oil companies could find themselves in the crosshairs of sanctions now being drafted by their home governments against Russia.
The U.S. and Europe aren’t weighing sanctions against Russian exports of oil and natural gas directly given concern they could increase already high energy costs in Europe. But officials have outlined possible, broad restrictions on technology transfers and export controls into Russia, The Wall Street Journal has reported. Such sanctions, if applied broadly enough, could hamper access to crucial gear and know-how by all companies operating in Russia, including units and partners of these Western energy companies.
The European Union, meanwhile, is considering more direct measures, including restricting the financing of new gas exploration and production in the country, as well as extending existing bans on the transfer of technology in the energy sector specifically, according to a senior European official. Russia’s banking sector is also a target, the Journal reported, potentially hurting the oil-and-gas sector it helps finance.
British oil giant BP PLC owns almost 20% of Russian oil producer Rosneft Oil Co. Its rival, Shell PLC, alongside U.S. major Exxon Mobil Corp., are drilling for natural gas and oil from fields around Sakhalin Island in Russia’s far east. U.K.-listed Glencore PLC owns a chunk of the parent of a big Russian aluminum maker and is a trader of Russian metals and oil.
Nighthawk Energy may sue bulletin board ‘de-rampers’
Nighthawk Energy (LON:HAWK, OTC:NHEGY) is considering legal action against ‘de-rampers’ who have been making “persistent defamatory and untrue postings” on bulletin boards, hosted on the Interactive Investor (iii) and ADVFN (ADVFN) websites.
The postings concern the operations of Nighthawk and its management which the board considers to be extremely damaging to the company and its reputation.
After it obtained a High Court of Justice order in June, instructing iii and ADVFN to provide the posters’ details - who were posting material that the court accepted could be defamatory -, Nighthawk said it has now established the posters’ identities and it is considering, with its legal advisers, instituting civil proceedings against the ‘de-rampers’ for defamation.
“The company took steps to identify the posters who try to escape liability for their defamatory postings by hiding behind a cloak of anonymity ... In some cases the names and other details used to register these accounts are fictitious and posters also can try and cover their tracks using numerous pseudonyms but they can be traced through their IP addresses”.
Both iii and ADVFN are assisting Nighthawk to provide the posters’ details.
In a separate statement, Nostra Terra Oil and Gas (LON:NTOG) revealed that it is also mulling civil proceedings against certain bulletin board posters.
The company is considering its next move in response to “untrue and malicious statements about the company's activities and personnel”, which it claims have been “made repeatedly by certain posters” on the internet and via the iii and ADVFN boards.
Like Nighthawk, Nostra Terra obtained a High Court of Justice order instructing iii and ADVFN to provide information relating to the bulletin board posters.
Quick facts: Nighthawk Energy
.......not before time....
...LONDON (Reuters) - Prices of rare earths needed for electric vehicles (EVs) are set to keep sizzling this year on the back of buoyant sales of EVs, uncertainty about supply from Myanmar and razor-thin stockpiles.
.............The situation is as tight as it has ever been,” said Ryan Castilloux of consultancy Adamas Intelligence.
“The industry just operates hand to mouth and demand gets stronger month after month.” He declined to give specific price forecasts because of their volatility.
China is the world’s dominant producer of rare earths, a group of 17 minerals used in EVs, wind turbines, and military equipment, but relies on Myanmar for around half of its heavy rare earth feedstock.
Its rare earth imports from Myanmar dried up for several months last year after the closure of a key border crossing to contain the spread of the novel coronavirus.
The border reopened in late November, but political instability in Myanmar after a military coup last year adds to uncertainty about supply, analysts said.
“It remains fragile, both politically and the health dimension, and that should be a concern for the magnet industry,” Castilloux said.
Permanent magnets made from rare earths are used in most motors used to power EVs, a sector that has seen sales boom as automakers seek to slash carbon emissions.
Global sales of EVs more than doubled in 2021 here to 6.6 million, more than tripling their market share from two years earlier, according to the International Energy Agency.
Rare earth prices set to keep on the boil after sharp rally
By Eric Onstad
https://www.reuters.com/article/rareearths-prices-idUSKBN2KC0Z1
https://www.bbc.co.uk/news/uk-england-cambridgeshire-60302561
Drinking water containing dangerous levels of a toxic chemical found in a company's supply did not reach its customers' taps, a water firm said.
Cambridge Water supplied homes in Cambridgeshire with water from an aquifer containing high levels of PFAS (polyfluoroalkyl and perfluoroalkyl substances).
The company said the water was blended with that from another source and the contaminants did not reach customers.
An investigation was under way.
More than 1,000 customers in Great Shelford and Stapleford were said to have been affected by the contaminated water, as first reported in The Guardian.
It said the water contained four times the legal limit of perfluorooctane sulphonate (PFOS).
PFOS is part of the wider family of PFAS substances.
The fluorine-based compounds are often dubbed "forever chemicals" because they do not break down quickly, and have been detected in drinking water, dust and the human bloodstream.
These chemicals are found in many products such as food-packaging, cosmetics and furniture and have been linked to health problems including liver damage, kidney cancer and birth defects.
'Lowest risk'
In a statement released to the BBC, Elinor Cordiner, head of drinking water quality and compliance at Cambridge Water, said: "The presence of PFAS compounds in the water supply is an emerging national challenge and one we take very seriously, and support all action to effectively manage PFAS and protect public health."
The Drinking Water Inspectorate issued renewed guidance on PFAS compounds in January 2021, following which, Cambridge Water "undertook sampling surveys to establish whether there was any risk to our customers in Cambridge", said Ms Cordiner.
"All of our sites, with the exception of one, fell within the tier 1, lowest risk, category (tier levels are 1 to 4).
"Our site at Duxford Airfield fell within the tier 3 category, however water supplies from this source have always been blended with other sources before reaching our customers.
"This means that levels of PFAS at customer taps were at, or around, the tier 1 (lowest risk) level."
Cambridge Water said its aquifer at Duxford was not currently supplying water "as a purely precautionary measure" and it was "in the process of installing additional treatment at the site to safeguard our supplies for the future".
The Drinking Water Inspectorate confirmed Cambridge Water had notified them of the findings at Duxford and an investigation was taking place.
Both the Conservative MP for South Cambridgeshire, Anthony Browne, and the Labour MP for Cambridge, Daniel Zeichner, have called for Cambridge Water to release more details about the incident to consumers.
presentational grey line...............
https://www.theguardian.com/environment/2022/feb/08/what-are-pfas-forever-chemicals-what-risk-toxicity
‘Forever chemicals’: what are PFAS and what risk do they pose?
They have useful properties, but some have been banned and toxicity of others is unknown
a must watch ....(those were the days)
https://www.youtube.com/watch?v=HLNhPMQnWu4&t=16s
Fantastic research here which should persuade any doubters that 'chemo without side effects' is occurring in the AVA6000 trial. The market is missing a trick. #AVCT
https://twitter.com/search?q=%23Avct&f=live