Nostra Terra (AIM: NTOG ) shares rose 36.36% to 0.375p after completed survey 

The oil & gas exploration and production company announced that progress continues in regard to Cypress Minerals drilling a new well at the undeveloped 80 acres of Pine Mills. 

Nostra Terra has a 32.5% working interest in the well in Wood County, Texas, and the 80 acres, including a 25% carried working interest on the first well and the remainder at cost. 

Following a recently completed survey in preparation for constructing the drilling pad, the well design has been agreed and a drilling contractor has been selected. 

Drilling operations are planned to commence in October. Next, the operator is preparing to construct the drilling pad, followed by mobilizing the rig and spudding the new well. 

“We're happy to see progress towards the new well at Pine Mills, our first based on 3D seismic data,” said Matt Lofgran, Nostra Terra 's Chief Executive Officer. 

eEnergy  (AIM: EAAS ) shares rose 10.20% to 6.75 after reporting a strong start to year 

eEnergy said it has enjoyed “a strong start” since its readmission to the AIM market in January with revenue rising 14% to £4.5m for the year ended 30 June 2020. 

eEnergy completed its admission to AIM on the London Stock Exchange on 9 January 2020 via the reverse takeover of the company which was previously known as Alexander Mining. 

The UK and Irish "Energy Efficiency-as-a-Service" firm said it has since made strong financial progress despite challenges faced by COVID-19. It reported a revenue rise of 14% to £4.5m (2019: £3.9m) with gross margin increasing 510 basis points to 35.5% (2019: 30.4%). 

Despite widened losses, the group reported a strong order book of £2.2m as at 30 June 2020, 94% higher than the prior year of £1.2m, while total contract value stood at £7.0m. 

In a further trading update for the period 1 July 2020 to 11 September 2020 period, the group told investors that it has seen an uplift in business wins and installation momentum which had been boosted by contracts won before and during lockdown worth over £1m. 

eEnergy has experienced a significant acceleration in growth since the year end, generating a 6-fold revenue increase from the prior year, completing over 64 installations, and forming a pipeline of education and commercial opportunities for several significant opportunities. 

Looking ahead, eEnergy will refocus its strategy to develop the business into a broader energy services company and acquire other businesses in the energy management sector.  

As well as rapidly growing its "Light-as-a-Service" business, eLight, the group said it remains encouraged by the momentum of its pipeline. Meanwhile, Sinclair added that the Board expects to achieve breakeven profit after tax in the six months to 31 December 2020. 

Destiny Pharma (AIM:DEST ) shares rose 6.03% to 61.5p as it remains well funded 

The group has made “great progress” in its half-year results for the six months to 30 June 2020 with the group successfully navigating its clinical trial of its drug XF-73 amid COVID-19. 

It reported a strong balance sheet with cash at £5.6m (FY19: £7.5m) and R&D expenditure at £2.3m (1H19: £1.7m), which it said reflected its increased investment in clinical research. 

The biotechnology group has recruited 88 patients out of the target of 125 for its Phase 2b clinical study of lead drug candidate, XF-73, after agreeing a protocol amendment with the FDA in July to reduce the size of the study as well as reporting excellent interim safety data. 

The company said this change in the trial of drug XF-73, which is being tested to prevent post-surgical hospital infections, enabled a reduction in the defined study size from 200 patients to 125 ‘while maintaining the statistical power of the study and its clinical value.’ 

“We look forward to completing patient recruitment by the end of 2020 and announcing results in Q1 2021. This is the major value driver for the company,” said CEO, Neil Clark. 

Due to its strong financial position, Destiny Pharma told investors that it is well funded through to Q4 2021 to complete its Phase 2 clinical development of its lead drug, XF-73.  

Equity Development said in a research note that the chances of success for the study of XF-73 that has demonstrated nasal decolonisation in healthy volunteers ‘should be high.’ It said it anticipates that Destiny Pharma will license XF- 73 after Q1 2021 and launch in 2024.  

For now, the group maintains ‘good momentum’ in patient recruitment of the clinical study and is on plan to complete recruitment by the end of 2020 and report results in Q1 2021. 

Galileo Resources (AIM:GLR ) shares rose 9.38% to 0.875p after commencing survey 

Galileo has commenced an electromagnetic survey (EM) over two of its highly prospective tenures within its 100% held Kalahari Copper Belt ("KCB") Project in western Botswana. 

The objective of the survey, which is being completed using NRG's Xcite™ Airborne Electromagnetic (AEM) system, is to define the most prospective structural setting mineralisation within the PL40/2018 and PL39/2018 sections of the Kalahari project. 

PL40/2018 and PL39/2018 are considered highly prospective and have similar geological settings to Cupric Canyon Capital's Zone 5 and Zone 5N deposits 25 kilometres due west. 

“I have no doubt that time will see the Kalahari Copper Belt region emerging as a significant copper producer, since it already hosts two new world class deposits,” said CEO Colin Bird. 

The group expects to announce its preliminary results by 31 October 2020. 

Beowulf Mining (AIM:BEM ) shares rose 10% to 5.5p with new published findings 

The exploration and development firm published findings of an expert market assessment which investigated the market potential of future products from the Kallak North deposit, based on the results of laboratory and pilot plant testwork conducted to date. 

It showed that testwork on Kallak ore has produced an exceptionally high-grade magnetite concentrate at 71.5% iron content with minimal detrimental components. This would make Kallak the market leading high-grade product among known and planned future producers. 

"The Kallak deposit is unique considering the quality of the magnetite concentrate it can produce,” said Kurt Budge, Chief Executive Officer of Beowulf. 

He added, “Beowulf has been stating this since 2015 and, with Dr. Arvidson's latest assessment, significant knowledge of the iron ore market and the testwork completed on Kallak ore, he has validated Kallak concentrate's market leading attributes.” 

You can find out more about the findings of the expert market assessment here.