"This morning Allergy Therapeutics (AGY)... announced that the results from its latest phase 2 dose range finding clinical trial for GrassMATAMPL (the development version of Pollinex® Quattro Grass) were inconclusive. As a consequence, the company is not yet able to recommend a dose to take into the final phase 3 trial as expected... We estimate these events necessitate a delay of around 1 year to the start of phase 3 development for GrassMATAMPL but do not affect any other clinical development programmes being conducted by the company (i.e. the Birch vaccine phase 3 trial)." Zeus Capital note from today on research tree
VSA Capital note out today on research tree "Europa Oil and Gas (EOG) has extended the PEDL 143 licence, where Egdon Resources (EDR)# holds a 18.4% interest, by two years until October 2018. The licence is located in the Weald Basin, Surrey and the extension will allow EOG as the operator to drill the conventional Holmwood prospect which has estimated gross mean unrisked prospective resources of 5.6mmboe."
"The long awaited launch of Ergocalciferol 50,000 IU capsules completes Quantum’s Vitamin D range, meaning the company can offer four different strengths of licensed products addressing both treatment for acute deficiency and maintenance regimes. It is also another unlicensed to licensed development, demonstrating the pipeline is beginning to deliver. The shares have begun to rally in recent days, but still represent good value on under 10x P/E. Next expected news is the prelims on 10th May, when we will revisit our forecasts in detail." Broker note from Singers out this morning on research tree..
"Today's statement confirms that last Thursday and Friday proved to be a positive period for Plus500, both in terms of revenue and client acquisition. In addition, the company confirms no adverse impact from bad debts/market positions. This bodes well for the full year and the statement confirms the Group is trading, "in-line with expectations." Liberum note out this morning on research tree
Firstenergy note out this moring: "Relatively speaking, Faroe shares have not performed very well over the last six months. This probably reflects the defensive profile of the firm, which has a large net cash position and there-fore benefits less from a rebound in oil price. We continue to like Faroe, but among the ‘defensive companies’ with positive net cash and on our new price deck, the firm now offers less upside than Africa Oil. Under our scenario of rising oil prices, ‘leveraged companies’ are also likely to continue performing better." taken from research tree
"Petrel Resources and Clontarf Energy have advised that they have been informed by the Ghanaian Ministry of Petroleum that it is available for negotiations on the Companies proposals for amended coordinates of the Tano 2A Basin Block. The Tano 2A Block was owned by Pan Andean Resources, 30% held by Petrel, 60% by Clontarf and 10% by local Ghanaians. The Ministry advised that the Lukoil B Block is available for negotiations. Positive developments for both Petrel Resources and Clontarf Energy with the potential for negotiations on the Lukoil B Block. The Lukoil B Block is located offshore and in deeper water than the Companies previous Tano 2A Block, but is considered highly prospective." Northland's view out this morning on research tree
"Petrel Resources and Clontarf Energy have advised that they have been informed by the Ghanaian Ministry of Petroleum that it is available for negotiations on the Companies proposals for amended coordinates of the Tano 2A Basin Block. The Tano 2A Block was owned by Pan Andean Resources, 30% held by Petrel, 60% by Clontarf and 10% by local Ghanaians. The Ministry advised that the Lukoil B Block is available for negotiations. Positive developments for both Petrel Resources and Clontarf Energy with the potential for negotiations on the Lukoil B Block. The Lukoil B Block is located offshore and in deeper water than the Companies previous Tano 2A Block, but is considered highly prospective." Northland's view out this morning on Research Tree
"It is positive that there were no protracted delays in the issuance of these permits and Savannah Resources will now commence initial exploration work the Somero and Erajarvi projects. To date both of the projects have been shown to contain lithium bearing minerals but no geochemical sampling has been completed to give an idea of grades." Northland also put out a note on Research Tree
"Savannah now has permits covering two highly perspective lithium projects within a mining friendly jurisdiction. While still an early exploration play we are encouraged with the potential for lithium mineralisation in the area based on the geological mapping complied by the Finnish Geological Survey (GTK). Given that the global lithium demand is expected to double by 2025 on the back of the burgeoning battery market, Savannah is looking to capitalise on the lithium market and diversify its portfolio. We look forward to further updates regarding the exploration programme in Finland as well as continued developments on the copper-gold deposits in Oman and the heavy mineral sands in Mozambique." Beaufort note out this morning on Research Tree
Beaufort note out this morning on Research Tree.. "Debenhams performed poorly in the 41 weeks to 11th June 2016. The company witnessed weak growth in the transaction value amid difficult trading conditions in the UK. Debenhams remained focussed on cost management and expects costs to be in the lower range of its guidance. The company recorded solid online sales growth of 9.1% for the year to date. International online sales continued to grow well, supported by its new web platform. The company continued with the roll-out of new food concessions, with an additional 30 offers in place by October. Nonetheless, the trading environment for clothing remains challenging. Moreover, Debenhams lowering the gross margin for the year is disappointing news."