Invinity Energy Systems (LON: IES) has signed a memorandum of understanding with US Vanadium to create a US-based 50/50 joint venture to build and sell vanadium flow batteries. Arkansas-based US Vanadium produces high-purity vanadium pentoxide and electrolyte for vanadium flow batteries. Invinity Energy Systems has also delivered and installed a 1.8MWh VS3 flow battery system at the European Marine Energy Centre hydrogen R&D facility in the Orkney Islands. The share price rose 35.9% over the week ending at 53p.
Wishbone Gold (LON: WSBN) has a second drill rig is on site at the Red Setter gold copper project in the Patersons Range area in Western Australia. The drilling has shown the intersection of multiple zones of quartz veining, carbonate and chalcopyrite and pyrrhotite. The shares jumped by 20.8% to 16p.
Evrima (LON: EVA) shares edged up by 1.22% to 4.15p. Premium Nickel Resources Ltd, where Evrima owns 1.11 million shares, has been readmitted to TSX-V after the reverse takeover of North American Nickel Inc. The first assay results from the Selebi nickel copper cobalt sulphide mine in Botswana have been published. There was a positive update for the Molopo Farms complex project in Botswana, where Evrima has an 8.93% project-level interest.
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Fallers
Psych Capital (LON: PSY) investee company Awakn Life Sciences, where Psych Capital owns 426,000 shares, has entered the US addiction treatment and relapse prevention market through a licensing partnership with Revitalist Lifestyle and Wellness Ltd, a ketamine wellness clinic chain. Awakn has a treatment that was validated in a phase II a/b trial, which delivered 86% abstinence for six months after treatment versus 2% before the trial. Revitalist will pay an annual fee and a revenue share per treatment. Even so, Psych Capital shares were the worst performers of the week with a 25.6% fall to 4p.
Ingraine (LON: KING) says AZD1656, which is being developed as a treatment for people with diabetes suffering from Covid-19, has shown evidence that it activates T-regs that might suppress the inflammation that is the prime cause of tissue damage in autoimmune disease. LANCET eClinicalMedicine is publishing the results of the phase II clinical trial. Ingraine owns 2% of Excalibur Medicines Ltd, which has exclusive rights to AZD1656. Shares in Ingraine dipped 20% to 1p.
Chris Akers has increased his stake in Oscillate (LON: MUSH) from 13.1% to 14.25%. The share price fell 11%. Even so, the share price fell 11% to 0.89p.
Altona Rare Earths (LON: ANR) is raising £1.1m at 8p a share ahead of the planned move to the Main Market at the end of September. The share price slipped by 4.62% to 7.75p. A two-year warrant will be issued with each share and that is exercisable at 12p, while a three-year option at 18p will be issued if the warrants are exercised within 30 days of the share price trading above 12p for ten consecutive days. There is an estimated exploration target of up to 56.6 million tonnes at up to 1.65% total rare earth oxide at the Monte Muambe rare earths deposit.
Goodbody Healthcare (LON: GDBY) increased revenues by £2.55m to £7.4m in the first half of 2022. This was driven by revenues from the testing clinics. The loss grew from £1.27m to £1.41m. There is cash in the bank of £3.74m. Goodbody CBD products have been listed by the FSA on the novel food list. There was a 3.7% fall in the share price to 1.3p.
Hydrogen Utopia International (LON: HUI) is starting a US roadshow from 22 August, following the start of trading of the shares on OTCQB Venture Market. Recent US legislation could increase investor interest in the clean energy market. The share price drifted down by 2.7% to 9p.
Valereum (LON: VLRM) is swapping its 20 bitcoin miners in the US for a 24% stake in new company Vinanz, which is conditional on the company listing on a recognised stock exchange. The final stake will depend on the money raised at the time of the listing. This will enable Valereum to concentrate on the Gibraltar Stock Exchange when the deal gets regulatory approval. There was a 2.27% decline in the share price to 21.5p.
