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Venus Metals commences Supreme Court proceedings regarding Penny West acquisition

Venus Metals Corporation Limited (ASX:VMC) has commenced proceedings in the Supreme Court of Western Australia in relation to Zebra Minerals acquisition of the Penny West Gold Project.

The proceedings are against Spectrum Metals Ltd (ASX:SPX), DJ Carmichael Pty Limited, Paul Adams and Davide Bosio, as well as Spectrums wholly-owned subsidiary Zebra Minerals Pty Ltd.

VMC alleges breaches of fiduciary duty, breaches of confidence and misuse of information that the company provided to Mr Bosio and Mr Adams of DJ Carmichael in July and August 2018.

Shares up 45%
The companys shares were up more than 45% to an intra-day high of 24 cents.

Venus Metals managing director Matthew Hogan said, “The Venus Metals Board has carefully considered the best interests of shareholders before initiating this litigation and will request that the Court hears the matter at the earliest opportunity.”

Company statement
In a company statement, Venus Metals wrote: “The information provided to Mr Bosio and Mr..

Venus Metals Corporation Limited (ASX:VMC) has commenced proceedings in the Supreme Court of Western Australia in relation to Zebra Minerals acquisition of the Penny West Gold Project.

The proceedings are against Spectrum Metals Ltd (ASX:SPX), DJ Carmichael Pty Limited, Paul Adams and Davide Bosio, as well as Spectrums wholly-owned subsidiary Zebra Minerals Pty Ltd.

VMC alleges breaches of fiduciary duty, breaches of confidence and misuse of information that the company provided to Mr Bosio and Mr Adams of DJ Carmichael in July and August 2018.

Shares up 45%

The companys shares were up more than 45% to an intra-day high of 24 cents.

Venus Metals managing director Matthew Hogan said, “The Venus Metals Board has carefully considered the best interests of shareholders before initiating this litigation and will request that the Court hears the matter at the earliest opportunity.”

Company statement

In a company statement, Venus Metals wrote: “The information provided to Mr Bosio and Mr Adams included information about Penny West and the companys proposed acquisition of Penny West.

“The company provided the information to Mr Bosio in his capacity as a director of DJ Carmichael and to Mr Adams in his capacity as Technical Adviser to DJ Carmichael. Venus Metals and DJ Carmichael signed a Confidentiality Deed. At that time, both Mr Bosio and Mr Adams were also directors of Spectrum.

“Spectrum, including Mr Adams, then undertook negotiations to acquire Penny West and Spectrum announced that it had entered into an agreement to acquire Penny West in October 2018.

“The company claims a constructive trust over Penny West, such that Penny West is held for the benefit of Venus Metals and its shareholders, alternatively that the other parties account to Venus Metals for the benefits they have obtained and damagesRead More – Source

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Australia

Kangaroo Island Plantation Timbers invites bird lovers to assist with annual survey

Kangaroo Island Plantation Timbers Ltd (ASX:KPT) invites bird lovers to help out with the annual Birds in Plantations survey next month on Kangaroo Island in conjunction with Birdlife Australia.

Last year was the first time that bird surveys had been conducted in the companys plantations and there were 38 different bird species observed.

Birds were most abundant and diverse in the remnant vegetation on plantation properties.

KPT owns 25,000 hectares of land on Kangaroo Island, of which about 7,000 hectares is remnant vegetation.

Volunteers sought
In the 2018 Birds in Plantations survey, 22 volunteer surveyors completed more than 85 surveys across 37 different properties or control sites in KPT plantations.

This year the survey will be held on November 9 and 10, with volunteers able to complete surveys in the week before and after if they cannot commit to the weekend.

Building a picture of bird health
KPTs director of Community Engagement Shauna Black said the volunteers were cruc..

Kangaroo Island Plantation Timbers Ltd (ASX:KPT) invites bird lovers to help out with the annual Birds in Plantations survey next month on Kangaroo Island in conjunction with Birdlife Australia.

Last year was the first time that bird surveys had been conducted in the companys plantations and there were 38 different bird species observed.

Birds were most abundant and diverse in the remnant vegetation on plantation properties.

KPT owns 25,000 hectares of land on Kangaroo Island, of which about 7,000 hectares is remnant vegetation.

Volunteers sought

In the 2018 Birds in Plantations survey, 22 volunteer surveyors completed more than 85 surveys across 37 different properties or control sites in KPT plantations.

This year the survey will be held on November 9 and 10, with volunteers able to complete surveys in the week before and after if they cannot commit to the weekend.

Building a picture of bird health

KPTs director of Community Engagement Shauna Black said the volunteers were crucial to the success of the survey.

“You can do it in your own time and well provide fuel vouchers and safety equipment.

“Wed like to do it every year so we can build up a resource and a picture of bird health in our plantations, as part of our Forestry Stewardship Council certification.”

For more information Read More – Source

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Australia

Imugene welcomes receipt of US Department of Defense grant for City of Hope cancer researchers

Imugene Limited (ASX:IMU) has revealed that City of Hope researchers Yanghee Woo, MD and Yuman Fong, MD have received a $564,173 US Department of Defense Grant for the oncolytic virotherapy CF33 in gastric cancer.

Background
The CF33 oncolytic virus was developed at City of Hope, a world-renowned independent research and treatment centre for cancer, diabetes and other life-threatening diseases based in California.

Imugenes proposal to license CF33 from City of Hope is awaiting satisfaction of customary conditions precedent and shareholder approval at the Extraordinary General Meeting (EGM) to be held on November 18, 2019.

Focus on gastric cancer
The grant focuses on the area of stomach (gastric) cancer (GC), a disease that disproportionately affects US military service members, veterans, and their beneficiaries who have increased exposure to hazardous environmental risk factors, such as H. pylori, Epstein-Barr viral infections, radiation, and tobacco smoking.

Peritoneal carcinomato..

Imugene Limited (ASX:IMU) has revealed that City of Hope researchers Yanghee Woo, MD and Yuman Fong, MD have received a $564,173 US Department of Defense Grant for the oncolytic virotherapy CF33 in gastric cancer.

Background

The CF33 oncolytic virus was developed at City of Hope, a world-renowned independent research and treatment centre for cancer, diabetes and other life-threatening diseases based in California.

Imugenes proposal to license CF33 from City of Hope is awaiting satisfaction of customary conditions precedent and shareholder approval at the Extraordinary General Meeting (EGM) to be held on November 18, 2019.

Focus on gastric cancer

The grant focuses on the area of stomach (gastric) cancer (GC), a disease that disproportionately affects US military service members, veterans, and their beneficiaries who have increased exposure to hazardous environmental risk factors, such as H. pylori, Epstein-Barr viral infections, radiation, and tobacco smoking.

Peritoneal carcinomatosis (PC) is a fatal evolution of GC for which there is no effective treatment.

Across military families and the general population, over 60% of all patients with GC will develop peritoneal disease as the most common manifestation of recurrence or metastatic presentation.

The progression of primary GC to PC is facilitated by the unique peritoneal tumour microenvironment, where metastatic peritoneal seeding requires evasion of anti-tumour immunity and maintenance of a highly immunosuppressive microenvironment.

The researchers rationalize that a combined approach using Imugenes proposed license for novel oncolytic virus CF33 armed to express an anti-PD-L1 antibody as immune moRead More – Source

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Australia

Ironbark Zinc in trading halt ahead of capital raising news

Ironbark Zinc Ltd (ASX:IBG) has capital raising news pending and has been granted a trading halt by the ASX.

The halt will remain in place until the start of normal trading on Friday, October 25, 2019, or when an announcement is made to the market, whichever occurs earliest.

IBG's securities last traded at 1.7 cents, down from 2.1 cents in mid-September.

New managing director
In September the company appointed experienced commercial and corporate executive Michael Jardine to the role of managing director.

Jardines previous experience included director for Atrum Coal Ltd (ASX:ATU) and Pegasus Metals Ltd, which is now Scorpion Minerals Ltd (ASX:SCN).

He is currently a non-executive director of TNT Mines Ltd (ASX:TIN) as well as Read More – Source

Ironbark Zinc Ltd (ASX:IBG) has capital raising news pending and has been granted a trading halt by the ASX.

The halt will remain in place until the start of normal trading on Friday, October 25, 2019, or when an announcement is made to the market, whichever occurs earliest.

IBG's securities last traded at 1.7 cents, down from 2.1 cents in mid-September.

New managing director

In September the company appointed experienced commercial and corporate executive Michael Jardine to the role of managing director.

Jardines previous experience included director for Atrum Coal Ltd (ASX:ATU) and Pegasus Metals Ltd, which is now Scorpion Minerals Ltd (ASX:SCN).

He is currently a non-executive director of TNT Mines Ltd (ASX:TIN) as well as Read More – Source

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