AIM Movers: Novacyt bid for Yourgene Health and Zanaga Iron Ore funding

Yourgene Health (LON: YGEN) is recommending a 0.522p/share cash bid from fellow diagnostics company Novacyt (LON: NCYT). This values Yourgene Health at £16.7m. Last December, Yourgene Health raised £6m at 0.3p/share. Novacyt is spending some of the cash it generated during Covid as it seeks to replace those testing revenues. The Yourgene Health share price jumped 143.6% to 0.475p, while the Novacyt also improved 20.3% to 20.3% because of the prospects for the deal.

Eurasia Mining (LON: EUA) has published its 2022 accounts enabling it to avoid a share trading suspension. There was a £6.81m cash outflow from operations. Rosendra has approved the definitive feasibility study for the Monchetundra project in north west Russia. The company is still trying to sell its assets in Russia. The share price rose 9.52% to 2.875p.

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Verici Dx (LON: VRCI) has announced positive data from the validation study of its Claranova pre-transplant prognostics test to identify early kidney rejection. This study shows that there is actionable data that surgeons can use to make decisions. Commercial launch could happen by the end of the year at a potential price of $2,650/test.  The share price is 12.8% higher at 13.25p.

Empire Metals (LON: EEE) has confirmed the previously indicated titanium oxide enrichment over 40km at the Pitfield project in Western Australia. There are plans to test the length of the magnetic anomaly to confirm the scale of the system. Two areas of high grade titanium oxide have been identified in the Mt Scratch area. The share price increased 7.81% to 1.725p.

Zanaga Iron Ore (LON: ZIOC) moved from loss to profit in 2022, but that was down to a $9.1m gain on the revaluation of an investment. Shard Merchant Capital is subscribing for 36 million shares in three equal tranches. Shard Merchant Capital will attempt to place the subscription shares and pay Zanaga Iron Ore 95% of the gross proceeds. The first tranche will be subscribed for in the next three days, and the next ten days after those shares have been placed. Shard Merchant Capital previously subscribed for 21 million shares. The share slumped 19.6% to 10.01p.

Gold explorer Panthera Resources (LON: PAT) says LCM Funding requires an extension to the deadline for the provision of $10.5m of litigation finance while it completes due diligence. If this is completed satisfactorily a funding confirmation notice will be completed. The funding is for a damages claim against the Indian government, which it accuses of breaching its obligation to be fair when it blocked a licence for the Bhukia project. The share price fell 14.9% to 7.125p.

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The Uruguay authorities have approved the award to Challenger Energy (LON: CEG) of the AREA OFF-3 licence. The formal signing will take up to four months. The share price slipped 13.2% to 0.0825p.

Angus Energy (LON: ANGS) says remedial engine maintenance on the second compressor at the B07T well on the Saltfleetby field should be completed this week. Average daily production rates for the second quarter were 6.8 mmscf/day, although peak daily production was 9.3 mmscf/day after B07T started producing. The share price declined 7.32% to 0.95p

Alien Metals (LON: UFO) has secured a short-term funding convertible facility of up to $1m and associates warrants could generate another $1m. Chief executive Rod McIllree resigned on Friday evening, following publication of the 2022 accounts. The share price fell 4.11% to 0.35p.

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