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Proactive news highlights: Berkeley Energia, Acal, Clinigen, ZincOx, Sula Iron & Gold and more

Published: 15:25 30 Nov 2015 GMT

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Monday was a day dominated by one sector – mining.

Kicking off with, Aureus Mining (LON:AUE, TSE:AUE), which secured US$21.5mln in debt and equity funding that will allow the acceleration of mining at its New Liberty operation in Liberia.

The package is comprised of a US$10mln additional liquidity facility provided by Rand Merchant Bank and Nedbank to be repaid in two years.

Meanwhile, even though it’s not a huge transaction in financial terms, Ferrex’s (LON:FRX) acquisition of a significant interest in an Australian gold project is undoubtedly transformational.

It signals the intent of the company not to be hidebound by the long-term prospect of developing its West African iron ore and manganese assets.

Staying with gold, Sula Iron & Gold (LON:SULA) completed its extended drilling programme at Ferensola Gold in Sierra Leone.

The original programme was extended by a further 1,500 in October due to interest in the project from a tier one gold producer that wanted to observe the drilling. 

Xtract Resources (LON:XTR) is on track hit its tonnage target for the final quarter of the year at the Chepica gold mine in Chile.

Elsewhere, Vast Resources (LON:VAST) had the proposed merger between two of its Romanian subsidiaries confirmed by the Appeal Court of Cluj.

Zinc recycler Zincox (LON:ZOX) agreed to restructure its debts  with partner Korea Zinc Company, the first stage of a refinancing that will include raising equity funds.

Berkeley Energia (LON:BKY) is aiming to become one of the world’s lowest cost uranium producers.

The company has kicked-off optimisation studies on the Salamanca uranium project in Spain to help make production cheaper.

In the oil sector, UK Oil and Gas (LON:UKOG) received consent from the Environment Agency to carry out a flow test at the keenly watched Horse Hill-1 well near Gatwick.

The explorer created huge excitement in April, when it said the well, drilled into the Weald Basin under Dorset, Surrey and Sussex, had discovered more than a hundred billion barrels of oil.

Meanwhile, Oil and gas explorer and producer Oilex (LON:OEX) appointed an upstream expert to its board.

The group hired Jonathan (Joe) Salomon, 59, as an independent non-executive director.

Red Rock Resources (LON:RRR) has exercised the option to take a 20% stake in the planned development of the Lutcher More 21 and 22 wells at the Shoats Creek Field, Louisiana.

In the pharma space, Clinigen (LON:CLIN) said it will oversee the managed access programme for Takeda Pharmaceutical’s ixazomib that treats the blood cancer multiple myeloma.

The firm’s managed access programmes bring drugs and treatments to markets where they don’t have full regulatory sign off.

Allergy Therapeutics (LON:AGY) said it had completed patient recruitment for its drug candidate, PQBirch204, to treat birch pollen allergy.

In other news, electronics and environmental services group APC Technology (LON:APC) said a shake-up has resulted in extra business.

APC has carried out a review to tackle problems in its Minimise Group business and to focus on more profitable and cash-generative products and services.

Finally, Electronic parts distributor Acal (LON:ACL) is “encouraged” by the market in Europe as it reported strong first half figures and said it remains on track to hit full-year expectations.

Despite a tough economy and foreign exchange volatility, the group said macro-economic indicators have been more positive in recent months.

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