Traders Cafe with Zak Mir: AFC Energy. Belluscura, Braveheart, Mosman Oil & Gas, Oracle Power, Thor Mining, Tiziana Life Sciences

Hydrogen power generation technologies specialist AFC Energy (AFC) delivered its interim results for the half year ended 30 April 2021. It said it has three new world class partners, ABB : high power EV charging infrastructure / data centres; Altaaqa Alternative Solutions : zero emission power solutions and Mace, with its hydrogen fuelled generators for construction sites. AFC has served up a Strategic investment from ABB and Dutco cornerstoning an oversubscribed fundraise of £36m in April. It now has a stronger half year cash balance of £61.6m (HY 2020: £2.8m) with investment in product development and increased headcount resulting in an increased loss for the period of £3.3m (HY 2020: £1.8m).

Braveheart (BRH) shares have certainly been one of the more volatile plays in recent times, and perhaps with the latest news from the company this is set to continue. Further to the announcement on 4 May 2021, there was an update concerning progress to develop a COVID-19 test that its Paraytec subsidiary is working on in conjunction with the University of Sheffield. It was announced that In clinical analyses, over 120 patient nasopharyngeal swab samples have now been successfully analysed using the Paraytec test. In the laboratory, the Paraytec test achieved 94% sensitivity and 100% specificity. A key advantage of the Paraytec test is its potential to distinguish between intact viral particles and residual RNA fragments, something which can be useful for those facing the prospect of a demoralising 10 day enforced self isolation. RNA fragments are present in nasal and pharyngeal epithelial cells and can yield a positive PCR test result for several weeks after peak viral load has passed.

Although the company has been somewhat under-appreciated in recent months within the biotech space, perhaps as attention was diverted to some of the diagnostic groups, Tiziana Life Sciences (TILS) continues to plough its own furrow. The latest is that the biotechnology company focused on innovative therapeutics said that it has signed an agreement with FHI Clinical, a global clinical contract research organization, to conduct a Phase 2 Proof-of-concept study in Brazil to evaluate the safety, tolerability and efficacy of intranasal Foralumab in hospitalized patients with severe coronavirus disease 2019 (COVID-19) and pulmonary inflammation. In this clinical trial, Foralumab will be delivered intranasally through a metered-dose nasal atomization device.

There was decent follow on news from earlier this month from Oracle Power (ORCP), the international mining and exploration group. The latest here is that the company said it has secured an exploration crew that will be on the ground on or around 28 June 2021 at its 100% owned Jundee East Gold Project, located in the Eastern Goldfields region of Western Australia. Oracle recently said it had obtained highly positive geochemical sampling results from the maiden orientation study. CEO Naheed Memon said that the company will continue to lay the foundations for a maiden drill programme later this year.

Oil exploration, development and production company, Mosman Oil & Gas (MSMN) said it has acquired all of the issued shares in Nadsoilco for a cash consideration of US$1.1 million, which will be paid from existing cash reserves, the latter aspect which is always a relief to shareholders. The acquisition immediately increases Mosman's net production from the Stanley, Livingston, and Winters leases located in East Texas. Nadsoilco has a 20% working interest in the lease and the four wells in the producing Stanley project as well as a 20% working interest in the Livingston Leases and 23.3% interest in the Winters Lease. Mosman said that the deal will immediately boost Mosman's production base and cash flow, and provide multiple near-term drilling and development activity and is a fast-track to increasing production.

Newly in vogue mining play Thor Mining (THR) served up an exploration update on the Company's 100% owned Ragged Range Project, located in Eastern Pilbara, Western Australia including the first soil results from two reconnaissance soil survey at the Sterling Prospect. Highlights here included Gold in soil anomalism defined over 1.2km strike length in the central area of the Sterling Prospect, close to the Euro Basalt and Dalton Suite ultramafic contact. There was up to 114ppb Au in soil samples in the central area of the Sterling Prospect. The company said that this is well above background and considered highly significant. Thor Mining has also been awarded A$160,000 from the Western Australia Government under the Government EIS Co-funded grants program, to drill test stream and soil gold anomalies at Sterling Prospect.

There was good news from relative stock market newcomer Belluscura (BELL) as the medical device developer focused on lightweight and portable oxygen enrichment technology, announced that it has hit the ground running on the fundamental front. This involved the signing of its first US distribution agreement for its X-PLO2R™ portable oxygen concentrator ("POC") portfolio. Belluscura said this is the first stage in establishing US-wide distribution coverage as part of the Group's commercialisation strategy.