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Kibaran Resources Positive EcoGraf Purification Test Results

Kibaran Resources Ltd (ASX: KNL) stock gained 20% after the company provided a positive update on the EcoGraf test work. Immediate results have already proved the effectiveness of the EcoGraf purification process as well as its eco-friendly nature, whereby no adverse emission was recorded.

The test results have consequently provided the company the much-needed information for the finalization of a detailed design of the process flow sheet. Kibaran Resource GR Engineering team is currently finalizing the mass balance as well as process flows and quantification of wastewater volumes.

In addition, Kibaran Resources is in the process of carrying out an employee, share scheme buyback targeting 2.1 million ordinary shares. The buyback targets shares initially owned by former director and chairman Andrew Spinks and the late John Park. The buyback will result in the extinguishing of the outstanding loans, and there will be no cash outlay.

Stemify Rallies on K-12 Education Market Traction

Stemify Ltd (ASX: SF1) rallied by more than 15% after announcing its strategic focus on the K-12 education market continues to gather traction. Consequently, the company saw its operating cash receipts for the September quarter increased by 75% to $400. Operating loss in the quarter also improved by 50% to $25,000 thanks to operating costs in the quarter stabilizing at $60,000 per quarter.

During the quarter, the company also achieved significant milestone key among them being the implementation of the largest education sale. The company carried out a district-wide rollout of Robo E3 printers and filament to 69 elementary schools around California. Stemify also carried out a district-wide rollout of the 3D printers, consequently reaching 34 elementary schools in Oklahoma City.

The company also achieved the largest MyStemKits implementation, since the acquisition, affirming its continued traction as a deep, broad curriculum offering. MyStemKits is currently available in 46 states across the U.S.

Likewise, Stemify also achieved further expansion with Cal Ripken Snr Foundation and The Meemic Foundation. It also completed onboarding of major new resellers and delivery of sales to school customers.

Living Cell Technologies Rallies As Cash Balance Shrinks

Living Cell Technologies Ltd. (ASX: LCT) was up by 16% despite announcing that its cash balance for the September quarter shrunk to $3.3 million from $4.9 million in the previous quarter. Net operating cash flow in the quarter was up to $1.5 million compared to $345,725 in the previous quarter. During the quarter, the company also received receipts from grants and tax incentives totaling $284, 468.

Separately, Living Cell Technologies has received A$1.1 million from the sale of Semma Therapeutics. Vertex Pharmaceuticals had entered into a binding agreement to acquire the private company in which LCT held shares. The sale is poised to strengthen the LCT cash runaway, which should allow it to accelerate the development of its ongoing product projects scheduled for the 2018-2019 financial year.

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Novita Healthcare Explodes On Tali Detect Technology U.S Deal

Novita Healthcare Ltd (ASX: NHL) shares surged by more than 100% on the announcement that the company’s groundbreaking technology TALi Detect technology can start reporting using CP Code 96146 in the U.S. The approval is a milestone achievement as it paves the way for the company to enjoy patient reimbursements.

The U.S clinical market represents an exciting opportunity given that 8-10 million children are screened every year. The fact that each patient requires two to three TALi Detect screenings presents a unique opportunity for the company to generate significant revenues. Clinician payment is currently capped at $36.04.

Novita has already hit the ground running as it seeks to deploy relevant information to physicians in a bid to enhance the use of the TALi Detect technology in more healthcare facilities in the U.S. the technology has already posted positive results as part of clinical trials in Australia. The technology has so far proved to be reliable in assessing the efficacy and detecting differences in attention skills as how pliable children’s brain is during the initial stages of development.

CSG limited Rallies on Takeover News

CSG Limited (ASX: CSV)  rallied by more than 20% after it emerged it is an acquisition target. Fuji Xerox Asia Pacific Limited, a subsidiary of Fuji Xerox, has signed a scheme implementation deed as it seeks to acquire 100% of the company’s shares, subject to shareholder and court approval.

Under the terms of the Scheme Agreement, CSG Limited shareholders are to receive A$0.31 for each CSG share held. Completion of the agreement will result in CSG becoming a wholly-owned subsidiary of Fuji Xerox Asia Pacific. The Scheme Agreement values CSG Limited at $140.8 million, with an enterprise value of $181.6 million.

CSG Limited board has approved the transaction in part because the $0.31 a share deal represents a 31.9% premium to CSG closing price of $0.235 as of October 23, 2019.  In addition, the 100% cash consideration provides shareholders certainty of value and an opportunity to realize the value in capital invested. The board also expects the scheme agreement to provide growth opportunities to 670 CSG Limited employees

Kibaran Resources Name Change Push

Kibaran Resources Ltd (ASX: KNL) was also up by more than 20% after announcing plans to change its name to EcoGraf Limited. The name change drive is part of an effort that seeks to reflect the company’s business that focuses on high quality, natural flake, and graphite products.

The company has already invested over $25 million over the past six years, an investment drive that has resulted in two highly attractive graphite businesses ready to serve prospective customers in Asia and Europe.  The name change should provide brand recognition in new markets, especially in the production of lithium-ion batteries for use in electric vehicles and anode materials.

The Epanko mining project in Tanzania is at the heart of Kibaran Resources in the race to come up with various graphite products to take advantage of the growing market opportunity. The company is already in advanced stages for bank funding processes as it also continues to implement Tanzania mining regulations.

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