LONDON (ShareCast) - EMED Mining is wanted after reporting an extension of the Biely Vrch porphyry gold system in Central Slovakia.
The system is now estimated to contain approximately 1.2m ounces of gold. A second porphyry gold deposit has been discovered at the nearby Kralova prospect.
Last week the Europe and Middle East focussed miner cut its estimates of the cost of reopening the Proyecto Rio Tinto (PRT) in Andalucia, Spain, to £60m from the £79m originally projected. Latest estimates suggest that PRT production could restart as early as the third quarter of 2008.
Beleaguered pharmaceuticals company Phynova Group perked up today when it released preliminary data from the Phase I/II trial of its lead drug candidate PYN17 for treating the symptoms of chronic hepatitis C.
The initial results indicated that PYN17 was well tolerated by patients. "We expect to commence the pivotal Phase IIb study for PYN17 in the first half of 2008," said Robert Miller, Phynova's CEO.
Elsewhere in the healthcare sector, GW Pharmaceuticals said the first US Phase II/III dose-ranging trial has been started to evaluate the efficacy and safety of Sativex, its pain treatment for cancer sufferers.
The tests will seek to replicate and augment data from a previous trial conducted on 177 patients in Europe. During the European tests, 43% of patients who received Sativex while remaining on opioid based pain relievers, exhibited at least a 30% decrease in their pain score compared to 21% of patients receiving placebo and just opioids.
Forum Energy said it has agreed to sell its interest in Central Cebu Coal Operating Contract 132 for $3.5m in cash to private Philippine firm First Asian Resources and Mining Corporation.
Advertising and marketing agency Ekay took a £1.7m exceptional hit, primarily for bad debt provision, which widened its full year losses to £1.8m, compared with a profit of £0.6m last year. The company declined to pay a final dividend for the year.
Patagonia Gold is higher after announcing “very encouraging results” from its drilling on the Cap-Oeste prospect and the adjacent Breccia Valentina prospect on the El Tranquilo property in Argentina.
Cubus Lux, the Croatia-based leisure and tourism company, swung into profit at the halfway stage. Pre-tax profit in the six months to end-September totalled £0.24m, compared with a loss of £0.41m in the preceding year. Turnover jumped 171% to £0.89m from £0.33m.
Drug development firm Fulcrum Pharma saw pre-tax profit for the year slide to £42,000 from £94,000 due to higher admin costs. Turnover rose to £19.2m from £15.4m before.
Environmental support services firm fountains swung into profits of £741,000 compared with a loss of £1.7m last year on turnover that increased 10% to £44.7m.
