Economic and Market News for 26 August 2020

Cadence Minerals welcomed news that Hastings Technology Metals, its joint venture partner at the Yangibana rare earth project in Western Australia was raising A$20.7m from a share issue. Hastings...

US durable goods orders jumped 11.2% in July to $230.7bn, according to the Census Bureau. The market had been expecting a more modest increase of 4.4%. Story provided by StockMarketWire.com

Africa-focused energy company Kibo Energy said it was making progress on the development of its Benga and Baobab power projects in Mozambique. The company said a a supply agreement was being...

Mining company Jangada Mines welcomed news from 17.7%-owned ValOre Metals that it had recorded positive initial assay results from drilling at its Pedra Branca platinum group element project in...

Biotherapeutics company PureTech Health said it had sold part of its stake in founded entity and central nervous system disorder focused Karuna Therapeutics for around $100m. PureTech said it...

Oil company Zenith Energy said BCRA Credit Rating Agency had assigned it a 'B-' with stable outlook long-term debt issuer credit rating. 'We are very pleased to have received an additional credit...

Iodine manufacturer Iofina said it had continued 'positive' progress regarding debt refinancing with a new USA lender. The transaction was in the final legal documentation phase, and general...

Tungsten miner W Resources said it had agreed a new plan for its La Parrilla project in Spain in a bid to boost production. The company said an extensive programme of metallurgical and geological...

Cadence Minerals said the DEV Mineraco's Cadence and its investors, Indo Sino, had continued a 'constructive' talks over the negotiation of the settlement terms as proposed by the bank creditors....

Potash exploration and development company Kore Potash said it had completed a conditional equity placing to raise $8m. The company, whose flagship asset is the 97%-owned Sintoukola potash...

Potash development company Emmerson said results from a study for its Khemisset potash project in Morocco, provided 'measurable and verifiable confirmation' of the significant benefits that the...

Eqtec, a gasification technology solutions company, said it had signed an €2m equipment sale and services contract with German EPC company, ewerGy. EwerGy operated in Greece through its local EPC...

Oil company Nostrum Oil & Gas said it had defaulted on interest payments due to debt holders and was in talks to enter into forbearance agreements. The company said a default event had...

Agriculture company Dekel Agri-Vision said an initial shipment of milling equipment from Italy for its cashew nut processing project at Tiebissou in Ivory Coast had been delivered to the project...

Alternative broadband services provider Bigblu Broadband said its subsidiary Quickline Communications had deployed its first rural 5G site in North Yorkshire. Quickline was selected earlier this...

Microfinance institution ASA International said loan collection efficiency continued to increase. Collection efficiency in July remained in the mid-to-high 90s in eight operating countries, which...

Digital music solutions company 7digital said it had partnered with eMusic to launch eMusicLive, a livestream platform for the live music industry to stage virtual concerts. eMusicLive had been...

Pharmaceutical company 4D pharma hailed 'very promising' results from the clinical trial for its biotherapeutic candidate MRx0518 in combination with MSD's immune checkpoint inhibitor, Keytruda, in...

Energy developer and explorer Edenville Energy said its subsidiary Edenville International had entered into a four-year sales and marketing agreement with Dubai-based MarTek. MarTek, a sister...

Construction materials company Breedon said it would address concerns raised by the UK competition watchdog relating to its acquisition of assets from Cemex. The Competition and Markets...

Botswana-focused power company Tlou Energy said it had made planning progress on a proposed 66kV transmission line to connect its Lesedi project to the electricity grid. The company's engineering...

Gold miner Hummingbird Resources swung to a first-half profit on the back of rising gold prices. For the six months ended 30 June 2020, the company reported pre-tax profit of $23.7m, compared with...

Insurance investor Randall & Quilter Investment said Florida-based unit Accredited Surety & Casualty Company had entered into a program partnership with Surround Insurance Agency....

Argentina-focused oil company President Energy said it had entered into a drilling contract for two new wells scheduled to commence later this year. The company said it had also ordered long lead...

Cruise operator Carnival said its Princess Cruises unit had cancelled its early 2021 world cruises and Circle South America cruises on two ships. The cancellations had come amid limitations with...

Kidney disease diagnostics group Renalytix AI said it had filed a submission seeking clearance of its KidneyIntelX product with the US Food and Drug Administration. RenalytixAI announced in May...