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Proactive news highlights: Abzena, Amur Minerals, Falcon Oil & Gas, Michelmersh and more...

Published: 16:15 25 Jul 2016 BST

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Components group Versarien PLC (LON:VRS) has raised £1.1mln to fund its push into graphene-related technologies.

The funds will be used to finance an acquisition flagged up in April where Versarien sees the use of graphene enhancing the existing product range.

In other news, Faron Pharmaceuticals Ltd (LON:FARN) has said fellow AIM life sciences group will Abzena plc(LON:ABZA) will manufacture the former’s Clevegen antibody.

Clevegen is part of the new generation of drugs being developed to stimulate the body’s immune system into fighting cancers.

Elsewhere, Falcon Oil & Gas Ltd (LON:FOG) told investors that drilling is now underway on the latest well in its Australian shale play, in the Beetaloo basin.

The Beetaloo W-1 was spudded on July 22 in a location 85 kilometres south of the previously drilled Kalala S-1, where it will test an unexplored area of the southern Beetaloo basin for shale and hybrid shale-sand plays in the Velkerri and Kyalla formations.

Meanwhile, Epistem Holdings PLC has been renamed Genedrive PLC (LON:GDR) and starts trading under its new name today.

The name change follows a recent £6.5mln fundraising to focus on the development and commercialisation of its molecular diagnostic device.

Over at SDX Energy Inc (LON:SDX, CVE:SDX) it closed  the second tranche of its recent funding, issuing new shares priced at 18p each (current price: 20.25p).

The exploration and production company announced the funding deals, to raise a total of £7.6mln (US$11mln), back in May to coincide with its admission to London’s AIM market.

Amur Minerals PLC (LON:AMC) updated on progress on key work for its definitive feasibility study for the giant Kun-Manie nickel project in Russia, including that it had shortlisted potential engineers for the design of the mine and plant.

The firm aims to complete the milestone DFS by the end of 2017.

Over at Michelmersh Brick Holdings Plc (LON:MBH) it said it is primed for a “stronger” second half performance as it posted a solid set of interims, which also showed it had built up a meaningful cash pile.

Pre-tax profits nudged up £100,000 to £2.6mln in the six months to June 30 on turnover steady at £15.3mln.

Highlands Natural Resources Plc (LON:HNR) has struck a deal to add another new project to its portfolio, acquiring shale acreage in Colorado.

The proposed transaction sees the company secure 100% of a project starting, where it would initially drill as many as six horizontal wells targeting the Niobrara shale.

Tungsten Corp PLC (LON:TUNG) ran up another big loss in the year just ended but said recovery momentum is building.

The online invoice group expects to conclude the sale of its bank in October, which it estimates will free up £30mln of cash for the ongoing business.

And finally, Savannah Petroleum PLC’s (LON:SAVP) rumoured partnership with India’s state backed oil firm ONGC would deliver “financial and political muscle” to the group’s venture in Niger’s Agadem basin, so says the company's broker Mirabaud.

Talks have separately been taking place between Savannah and ONGC for a few months, according to the local press reports.

Chesnara reports strong 2023 results with improved cash generation and...

Chesnara PLC (LSE:CSN) chief executive Steve Murray discusses the company's full-year results for 2023 with Proactive's Stephen Gunnion, describing them as strong and particularly highlighting £53 million in commercial cash generation and a dividend coverage of around 150%. The company has...

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