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News

Luminex Extends the Camp Zone to Depth with Significant Intercepts in Six Step-out Holes

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Highlights include:

  • CC19-20: 4.4 metres true width of 5.3 g/t gold and 23.5 g/t silver
  • CC19-21: 5.8 metres true width of 8.4 g/t gold and 98.9 g/t silver
  • CC19-21: 2.9 metres true width of 3.3 g/t gold and 25.8 g/t silver
  • CC19-21: 0.6 metres true width of 69.4 g/t gold and 765.0 g/t silver (highest ever assay at Camp Zone)
  • CC19-23: 2.9 metres true width of 7.7 g/t gold and 12.6 g/t silver
  • CC19-23: 4.8 metres true width of 2.3 g/t gold and 121.3 g/t silver

VANCOUVER, British Columbia, Jan. 20, 2020 — Luminex Resources Corp. (TSXV: LR) (US OTC: LUMIF) (the “Company” or “Luminex”) is pleased to provide a Camp Zone drilling update at the Condor Project, located in southeast Ecuador with results from holes CC19-19 through CC19-25, as well as a drilling extension to previously announced CC19-04. All of the new Camp Zone step-out holes and the extension to CC19-04 hit significant high-grade mineralization. The Company completed 12,918 metres at the Camp Zone across 25 holes in 2019. Results from these holes will form the basis for a maiden Camp Zone resource which Luminex expects to announce by March 2020.

Holes CC19-20, 22, 23, 24 and 25 focused on further definition of the northwestern portion of the Camp Zone. The drilling tested a gap of approximately 300 metres between shallower holes CC19-01, 06 and 08 and the deep intersections cut in the previously announced hole CC19-12 (3.8 metres grading 6.09 g/t gold and 36.3 g/t silver, Figure 3 and press release dated November 4, 2019).

Hole CC19-21 was drilled below the previously reported hole CC19-18 and was successful in demonstrating not only apparent width continuity, but also a significant increase in grade at depth. Hole CC19-18 contained numerous zones of mineralization, most notably 4.8 metres of 4.8 g/t gold and 37.5 g/t silver along a contact zone between rhyolite and a foliated granodiorite (November 28, 2019 press release). In CC19-21, this zone of mineralization was cut again 100 metres deeper with an exceptional intercept of 5.8 metres grading 8.4 g/t gold and 98.9 g/t silver (Figure 3).

The previously reported hole CC19-04 was extended from 341 meters to 651 and cut the zone at projected depths with results up to 18.9 g/t gold and 22.7 g/t silver over 0.6 metres (Table 1 and Figure 2).

Hole CC19-19 tested the extent of mineralization to depth and to the southeast (Figures 1 and 3). The hole was successful in cutting narrow high-grade mineralization, leaving the system open to the southeast.

Due to the Camp Zone being located on sloping terrain, as the steeply dipping mineralization is drill tested to deeper levels, it is more efficient to collar drill holes from the footwall side. As such, holes CC19-23 and onwards have been collared downhill on the footwall side of the zone (see Figure 1).

Drilling with two rigs restarted at the project on January 6th. Several additional holes are planned to further define the existing zone to depth before continuing exploration along strike. Additionally, surface work continues to define new drill targets at Prometedor, Soledad and other areas the company expects to drill test in the first half of the year.

Table 1: Drill Hole Results

Hole Azimuth / Dip (degrees) / Depth (m) From (m) To (m) Interval (m) True Width (m) Gold (g/t) Silver (g/t)
CC19-04 Extension 210°/70°/341 to 651 m 378.0 380.0 2.0 1.1 2.89 12.9
And   433.0 437.0 4.0 2.2 3.4 43.4
And   449.0 450.0 1.0 0.6 18.85 22.7
And   465.0 468.0 3.0 1.8 5.33 26.7
And   493.0 494.0 1.0 0.7 2.38 6.5
And   496.0 501.5 5.5 3.6 2.26 35.1
And   637.0 638.1 1.1 0.7 5.36 19.1
 
CC19-19 210°/70°/642 m 257.0 258.0 1.0 0.4 6.89 37.6
And   301.0 303.0 2.0 0.9 2.61 7.4
And   424.0 425.0 1.0 0.4 2.42 10.8
And   449.0 452.0 3.0 1.3 4.73 14.4
And   476.0 477.0 1.0 0.4 41.00 272.0
And   486.0 488.0 2.0 0.9 2.02 7.8
And   504.0 505.5 1.5 0.7 2.10 2.3
               
CC19-20 210°/62°/585 m 381.0 385.5 4.5 2.9 3.98 49.4
Incl   384.7 385.5 0.9 0.6 16.8 178.0
And   419.0 425.0 6.0 4.4 5.27 23.5
Incl   421.0 421.6 0.6 0.4 30.6 75.2
And   445.0 446.0 1.0 0.8 3.54 4.3
And   449.0 450.0 1.0 0.7 3.01 61.5
 
CC19-21 210°/65°/580 m 291.0 292.0 1.0 0.6 3.79 18.7
And   315.0 320.0 5.0 2.9 3.27 25.8
And   324.0 325.0 1.0 0.6 2.84 27.1
And   329.0 330.0 1.0 0.6 2.66 21.9
And   342.0 343.0 1.0 0.6 3.28 20.6
And   348.0 358.0 10.0 5.8 8.39 98.9
And   367.0 368.0 1.0 0.6 69.4 765.0
And   509.0 513.0 4.0 2.3 2.43 7.8
And   523.5 525.3 1.8 1.0 2.23 1.8
 
CC19-22 210°/75°/725 m 468.0 472.0 4.0 1.9 3.39 2.2
And   479.0 480.0 1.0 0.5 2.75 3.9
And   485.0 486.0 1.0 0.5 3.56 14.2
And   518.0 519.0 1.0 0.5 4.06 20.6
And   528.0 528.7 0.7 0.3 9.46 68.9
And   533.0 534.0 1.0 0.5 3.08 19.6
And   559.0 560.0 1.0 0.5 4.01 84.3
 
CC19-23 30°/55°/756m 110.0 111.0 1.0 0.5 3.52 8.7
And   131.0 136.0 5.0 2.9 4.59 5.2
And   276.0 277.0 1.0 0.6 9.65 18.9
And   312.0 313.0 1.0 0.5 2.24 22.6
And   340.0 341.0 1.0 0.5 17.1 29.9
And   346.0 347.0 1.0 0.5 2.01 6.6
And   363.0 372.0 9.0 4.8 2.30 121.3
And   390.0 395.0 5.0 2.9 7.69 12.6
And   421.0 423.0 2.0 1.2 3.55 7.5
And   475.0 476.0 1.0 0.6 4.00 6.2
And   569.0 570.0 1.0 0.6 2.99 17.6
 
CC19-24 30°/50°/687 m 378.0 380.0 2.0 1.3 2.48 4.0
And   411.0 413.0 2.0 1.4 7.39 18.1
And   422.0 423.0 1.0 0.7 3.33 29.6
And   438.0 439.0 1.0 0.7 21.2 7.6
And   461.0 462.0 1.0 0.7 7.14 16.2
And   496.0 497.0 1.0 0.7 2.53 21.4
And   522.0 523.0 1.0 0.7 7.45 70.8
And   528.0 529.0 1.0 0.7 6.63 83.1
And   549.0 550.0 1.0 0.7 2.13 8.1
And   556.0 557.0 1.0 0.7 2.03 18.5
And   562.0 563.0 1.0 0.7 9.35 21.8
And   568.0 569.0 1.0 0.7 2.47 140.0
And   675.2 676.3 1.1 0.8 5.81 15.1
 
CC19-25 30°/50°/592 m 439.0 441.0 2.0 1.5 3.01 20.6
And   453.0 454.0 1.0 0.7 2.57 28.6
And   461.4 462.0 0.6 0.5 4.36 161.0
And   472.0 473.0 1.0 0.7 16.95 101.0
And   500.0 501.0 1.0 0.8 3.55 17.1
And   535.0 536.0 1.0 0.8 3.17 5.0
Intervals calculated using a lower limit of 2.00 g/t Au with a maximum inclusion of up to four continuous metres below cutoff and the highest gold value used in the reported weighted averages is 69.4 g/t Au.

Quality Assurance

All Luminex sample assay results have been independently monitored through a quality control / quality assurance (“QA/QC”) protocol which includes the insertion of blind standards, blanks as well as pulp and reject duplicate samples. Logging and sampling are completed at Luminex’s core handling facility located at the Condor property. Drill core is diamond sawn on site and half drill-core samples are securely transported to ALS Laboratories’ (“ALS”) sample preparation facility in Quito, Ecuador. Sample pulps are sent to ALS’s lab in Lima, Peru for analysis where gold content is determined by fire assay of a 50-gram charge with ICP finish.

Silver and other elements are also determined by ICP methods. Over-limit samples assaying greater than 10 g/t gold and 100 g/t silver are re-analyzed by ALS using fire assay with a gravimetric finish. Luminex is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein. ALS Laboratories is independent of Luminex.

Qualified Persons

Leo Hathaway, P. Geo, Senior Vice President Exploration of Luminex and the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed, verified and approved the scientific and technical information concerning the Condor Project in this news release and has verified the data underlying that scientific and technical information.

About Luminex Resources

Luminex Resources Corp. (TSXV:LR) is a Vancouver, Canada based precious and base metals exploration and development company focused on gold and copper projects in Ecuador. Luminex’s inferred and indicated mineral resources are located at the Condor Gold-Copper project in Zamora-Chinchipe Province, southeast Ecuador. Luminex also holds a large and highly prospective land package in Ecuador, including the Tarqui and Pegasus projects, which are being co-developed with BHP Group plc and Anglo American plc respectively.

Further details are available on the Company’s website at https://luminexresources.com/.

To receive future news releases please sign up at https://www.luminexresources.com/contact/contact-us/.

LUMINEX RESOURCES CORP.  
  For further information contact:
Signed: “Marshall Koval” Scott Hicks
  [email protected]
Marshall Koval, CEO and Director T: +1 604 646 1899

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Information

Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to a maiden resource for the Camp Zone being released by March 2020 and certain drill targets being tested in the first half of the year. Often, but not always, forward-looking statements or information can be identified by the use of phrases or statements that certain actions, events or results “will” occur or be achieved.

With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the prices of gold and copper, and anticipated costs and expenditures. The foregoing list of assumptions is not exhaustive.

Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting mining concessions); and other risk factors as detailed from time to time in the Company’s continuous disclosure documents filed with Canadian securities administrators. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. 

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/ae83e2ca-fa28-4d5b-9b92-d338bf73ec3e

https://www.globenewswire.com/NewsRoom/AttachmentNg/c3d98a29-e6f9-403f-8608-6c0a38419835

https://www.globenewswire.com/NewsRoom/AttachmentNg/6b8db2d2-e4dd-4eb6-b8c2-f227a3cafe82

Primary Logo

Figure 1

Geological map (plan view) with gold histograms capped at 2.0 g/t gold along drill hole traces projected to surface. Only the last two digits of hole numbers are shown.
Figure 2

Section showing contact mineralization in CC19-18 and repetition and strengthening of the zone at depth in CC19-21.
Figure 3

Vertical longitudinal section along strike of the high-grade mineralization. Systematic drilling of the gap between the deep intersection in hole CC19-12 and the holes above it is underway. Limits of this section are the map extent of Figure 1. Only the last two digits of hole numbers are shown.

News

CNOOC Limited Announces Commencement of Production at Liuhua 16-2 Oilfield / 20-2 Oilfield Joint Development Project

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HONG KONG, Sept. 20, 2020 /PRNewswire/ — CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that Liuhua 16-2 oilfield/ 20-2 oilfield joint development project has commenced production.

Liuhua 16-2 oilfield / 20-2 oilfield joint development project is located in Eastern South China Sea. The average water depth of the joint development project is approximately 410 meters.  One 150,000 DWT FPSO and three underwater production systems are newly built. A total of 26 development wells are planned to be put into production and development. The project is expected to reach its peak production of approximately 72,800 barrels of crude oil per day in 2022.

CNOOC Limited holds 100% interest of Liuhua 16-2 oilfield/ 20-2 oilfield joint development project.

– End –

Notes to Editors:

More information about the Company is available at http://www.cnoocltd.com.

*** *** *** ***

This press release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements regarding expected future events, business prospectus or financial results. The words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors the Company believes are appropriate under the circumstances. However, whether actual results and developments will meet the expectations and predictions of the Company depends on a number of risks and uncertainties which could cause the actual results, performance and financial condition to differ materially from the Company’s expectations, including but not limited to those associated with fluctuations in crude oil and natural gas prices, macro-political and economic factors, changes in the tax and fiscal regimes of the host countries in which we operate, the highly competitive nature of the oil and natural gas industry, the exploration and development activities, mergers, acquisitions and divestments activities, environmental responsibility and compliance requirements, foreign operations and cyber system attacks.  For a description of these and other risks and uncertainties, please see the documents the Company files from time to time with the United States Securities and Exchange Commission, including the Annual Report on Form 20-F filed in April of the latest fiscal year.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations.

*** *** *** ***

For further enquiries, please contact:

Ms. Jing Liu
Manager, Media & Public Relations
CNOOC Limited
Tel: +86-10-8452-3404
Fax: +86-10-8452-1441
E-mail: [email protected]

Ms. Ada Leung 
Hill+Knowlton Strategies Asia
Tel: +852-2894-6225
Fax: +852-2576-1990
E-mail: [email protected]

Photo – https://photos.prnasia.com/prnh/20200911/2914374-1LOGO?lang=0

 

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SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Odonate Therapeutics, Inc. of Class Action Lawsuit and Upcoming Deadline – ODT

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NEW YORK, Sept. 19, 2020 — Pomerantz LLP announces that a class action lawsuit has been filed against Odonate Therapeutics, Inc.  (“Odonate” or the “Company”) (NASDAQ: ODT) and certain of its officers.   The class action, filed in United States District Court for the Southern District of California, and docketed under 20-cv-01828, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise, acquired Odonate securities between December 7, 2017, and August 21, 2020, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.

If you are a shareholder who purchased Odonate securities during the class period, you have until November 16, 2020, to ask the Court to appoint you as Lead Plaintiff for the class.  A copy of the Complaint can be obtained at www.pomerantzlaw.com.   To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

[Click here for information about joining the class action]

Odonate was founded in 2013 and is based in San Diego, California.  Odonate is a pharmaceutical company that develops therapeutics for the treatment of cancer.  The Company is focused on developing tesetaxel, an orally administered chemotherapy agent. 

Tesetaxel is in Phase 3 clinical study for patients with locally advanced or metastatic breast cancer (“MBC”), called the CONTESSA trial, which is evaluating tesetaxel in combination with capecitabine in patients with MBC.

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational, and compliance policies.  Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) tesetaxel was not as safe or well-tolerated as the Company had led investors to believe; (ii) consequently, tesetaxel’s commercial viability as a cancer treatment was overstated; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On August 24, 2020, during pre-market hours, Odonate issued a press release announcing top-line results from the CONTESSA trial.  Although the study met its primary endpoint, tesetaxel plus capecitabine was associated with Grade 3 or higher neutropenia (low levels of white blood cells), which occurred in 71.2% of patients with the combination treatment versus 8.3% for capecitabine alone.  Various other Grade 3 or higher treatment-emergent adverse events (“AEs”) were also associated with tesetaxel plus capecitabine versus capecitabine alone.  Further, discontinuation rates were 4.2% from neutropenia and 3.6% from neuropathy, and the overall discontinuation rate was 23.1% in the treatment group compared to 11.9% in the capecitabine alone group.

On this news, Odonate’s stock price fell $15.21 per share, or 45.35%, to close at $18.33 per share on August 24, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT: Robert S. Willoughby Pomerantz LLP [email protected]

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SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Fastly, Inc. of Class Action Lawsuit and Upcoming Deadline – FSLY

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NEW YORK, Sept. 19, 2020 — Pomerantz LLP announces that a class action lawsuit has been filed against Fastly, Inc.  (“Fastly” or the “Company”) (NYSE: FSLY) and certain of its officers.   The class action, filed in United States District Court for the Northern District of California, and docketed under 20-cv-06454, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise, acquired Fastly securities between May 6, 2020, and August 5, 2020, inclusive (the “Class Period”) and were damaged thereby, seeking to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”), and SEC Rule 10b-5 promulgated thereunder (the “Class”).

If you are a shareholder who purchased Fastly securities during the class period, you have until October 26, 2020, to ask the Court to appoint you as Lead Plaintiff for the class.  A copy of the Complaint can be obtained at www.pomerantzlaw.com.   To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

[Click here for information about joining the class action]

Fastly is the provider of an edge cloud platform. Fastly’s edge cloud platform purportedly enables “customers to create great digital experiences quickly, securely, and reliably by processing, serving, and securing [its] customers’ applications as close to their end-users as possible.”

The complaint alleges that during the Class Period, Defendants knowingly and/or recklessly made false and/or misleading statements about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (i) that Fastly’s largest customer was ByteDance, operator of TikTok, which was known to have serious security risks and was under intense scrutiny by U.S. officials; (ii) that there was a material risk that Fastly’s business would be adversely impacted should any adverse actions be taken against ByteDance or TikTok by the U.S. government; and (iii) that, as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On August 5, 2020, after market close, Fastly held its second quarter (“Q2”) 2020 earnings conference call. During the call, Defendants disclosed that ByteDance, the Chinese company that operates the wildly popular mobile app TikTok, was Fastly’s largest customer in Q2 2020 and that TikTok represented about 12% of Fastly’s revenue for the six months ended June 30, 2020.

This news shocked the market, as TikTok had been under heavy scrutiny by U.S. officials and others since at least late 2019 due to fears that the data it collects from its users could be accessed by the Chinese government. Indeed, on July 31, 2020, President Trump announced a plan to ban TikTok in the U.S. over national security concerns. As Fastly’s Chief Executive Officer (“CEO”) admitted on the Q2 2020 earnings call, “any ban of the TikTok app by the US would create uncertainty around our ability to support this customer[,]” and “the loss of this customer’s traffic would have an impact on our business.”

On this news, Fastly’s share price fell $19.28 per share, or approximately 17.7% from the previous trading day’s closing price of $108.92 per share, to close at $89.64 per share on August 6, 2020. Fastly’s shares continued to decline on August 6, 2020, when President Trump issued an executive order effectively banning TikTok, declining another $10.31 per share from the closing price on August 6, 2020, or approximately 11.5%, to close at $79.33 per share on August 7, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT: Robert S. Willoughby Pomerantz LLP [email protected] 888-476-6529 ext. 7980

 

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