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Proactive snapshot: Positive response to Sirius Minerals' interims

Also featured: APQ Global, Bezant, Bushveld, Cloudbuy, European Metals, Greka Drilling, Harvest Minerals, Real Good Food, Rose Petroleum, Xtract Resources
Paper and a cup of coffee
A round-up of stories from the Proactive universe

It was a typically busy day in the world of junior minerals explorers.

Shares in Bezant Resources plc (LON:BZT) zipped higher after the junior miner confirmed it had achieved the first commercial gold and platinum production at its Choco project in Colombia.

Xtract Resources PLC (LON:XTR) gave investors an update on its contractor arrangements at the Manica alluvial project.

The company highlighted that all of Omina Mining’s earthmoving equipment is on-site already, and two thirds of Omnia’s plant equipment is on site and installed. Almost one third of the first two Omina settling dams completed, it added. .

Bushveld Minerals Limited (LON:BMN) is to move forward plans for a vanadium electrolyte plant in South Africa after a study predicted battery demand is set to soar.

A paper produced in conjunction with the World Bank’s Industrial Development Corporation (IDC) indicated demand for vanadium redox batteries (VRFB) would peak in 2025-2030 as their use in energy storage systems rockets.

European Metals Holdings Ltd (LON:EMH) is pleased with the first assay results from its infill drilling programme at the Cinovec lithium-tin project, which returned a continuous mineralized intercept of 148.30m averaging 0.40% lithium oxide.

Sirius Minerals PLC (LON:SXX), the developer of the York potash project, said development of the Woodsmith mine is on time and within budget. The company said the shaft sinking contract with Associated Mining Construction has been finalised with costs expected to be within the allocated budget.

Harvest Minerals Limited (LON:HMI) has lauded better-than-expected agronomic results from the Arapua fertiliser project on its direct application natural fertiliser and remineraliser product, KPfértil.

Elsewhere in the resources sector, Greka Drilling Limited (LON:GDL) has won two new drill contracts with PetroChina Huabei Oilfield Limited, for coal-bed methane blocks in Shanxi Province.

The China-focussed drilling and well services contractor estimates that the new contracts will be worth a total of US$2mln.

Rose Petroleum PLC (LON:ROSE) said the deal to sell its Mexican milling operation is proceeding, after the buyer Magellan Gold Corp made the extended August 15 deadline.

“The company is pleased confirm that it has received from Magellan both the irrevocable commitment letters totalling US$900,000 to fund the purchase and the first US$25,000 cash payment relating to the August 2017 running costs of the mill,” Rose said in a statement.

Elsewhere, increased revenues and prudent cost cutting helped online business-to-business marketplace creator CloudBuy PLC (LON:CBUY) to narrow its losses in the first half of 2017.

Executive chairman Ronald Duncan added that full-year revenues and operating profits (excluding share-based payments), will be broadly in-line with market expectations in 2017.

Real Good Food PLC (LON:RGD) has agreed a £2mln 'cash-collateralised' overdraft facility with Lloyds Bank to rectify a short-term working capital deficiency.

Investment trust APQ Global Limited (LON:APQ) expects the strong performance of emerging markets to continue even with the recent tensions between the US and North Korea.

“Emerging markets have been boosted in particular by a strong performance in a number of individual economies, a weakening US dollar and strong liquidity,” said Bart Turtelboom, chief executive. 

The Marketing Group PLC (NASDAQ:TMG) said it has been notified that its non-executive chairman, Don Elgie, acquired 6,800 ordinary shares in the company at €0.80295 per share for a total value of €5,460.06 in an open market transaction. Following this acquisition, Elgie’s total shareholding in the company is 162,372 shares, representing 0.50% of the issued share capital.

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