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Proactive news snapshot: EG Solutions, Richland Resources, Galileo Resources …

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EG Solutions plc (LON:EGS) is set to be taken over by US data analytics giant Verint Systems Inc (NASDAQ: VRNT) after the back-office workforce optimisation specialist’s board accepted a £26.3mln offer. That works out at 112.5p a share; a 53% premium to the average price of 73.5p over the past six months but 11% below yesterday’s close of 126.5p.

Shares in Itaconix Plc (LON:ITX) soared on Tuesday Morning after the functional polymers specialist signed an application agreement with Dutch chemicals giant AkzoNobel. AIM-listed Itaconix will work with AkzoNobel’s specialty chemicals division to develop bio-based chelates which will be used in the detergents and cleaners industry.

Richland Resources Ltd (LON:RLD) told investors that it has raised £450,000 of new capital by issuing 64.28mln of new shares, priced at 0.7p each. Chairman Edward Nealon, in a stock market statement, highlighted that the share subscription was oversubscribed.

Galileo Resources PLC (LON:GLR) told investors that its joint venture partner has agreed to complete the acquisition of Star Zinc in a deal worth US$1mln. Enviro Processing Zambia Limited, a subsidiary of Galileo’s partner BMR Group, agreed to pay Bushbuck Resources a total of US$1mln in cash to acquire Star Zinc.

Life sciences group OptiBiotix Health plc (LON:OPTI) has signed a manufacturing agreement with India-listed food ingredients giant Tata Chemicals. It is an expansion of a deal the two inked last December and gives Tata, part of the Tata Group, the exclusive rights to produce a sugar from OptiBiotix’s LP-LDL probiotic strain.

C4X Holdings PLC (LON:C4XD) has told investors it is continuing to make progress towards its aim of becoming “the world’s most productive drug discovery and development company”. In a brief business update this morning, the AIM-quoted firm said it has advanced its key drug discovery programmes in addiction and inflammation.

Gold miner Shanta Gold Limited (LON:SHG) has launched a US$5mln cost cutting programme to offset increases in royalties and tax in Tanzania. The government in the African country has passed new mining laws and a finance act recently that has increased royalty payments on gold exports to 6% from 4% and imposed a 1% clearing tax.

Ariana Resources plc (LON:AAU) has completed an initial exploration programme across the Hot Gold Corridor within its wholly-owned Salinbas gold project in Turkey. The Hot Gold Corridor is named after the 4 mln ounce Hot Maden deposit located approximately four kilometres south of the project licences.

IXICO Plc (LON:IXI) announced today that it has signed an extension and expansion to its largest existing contract for a Phase II/III clinical trial contract in Alzheimer's Disease. In a statement, the AIM-listed neuroscience digital technology firm said that consequently the total value of the contract - which was awarded in August 2015 - has increased from US$6.8mln to US$7.7mln, of which US$1.0mln has been recognised to date.

The new boss of Stobart Group Ltd (LON:STOB) is confident that the business he took over earlier this summer is on track to hit its “ambitious” long-term  targets. In a pre-close interim trading update, chief executive Warwick Brady said the infrastructure and support services group has enjoyed a solid opening six months.

 Summit Therapeutics PLC’s (LON:SUMM, NASDAQ:SMMT) next-generation antibiotic scored well in a head to head with the existing treatment for Clostridium difficile infection (C.difficile). A phase II clinical trial pitched Summit’s ridinilazole against a specialist (narrow-spectrum) drug, fidaxomicin. The data revealed that both reduced the abundance of C.difficile. However, ridinilazole had “markedly less” impact on the gut microbiome.

Ormonde Mining (LON:ORM) is pressing ahead with development at the Barruecopardo tungsten project, with major items of equipment now in the manufacturing stage and more on order. Work on the ground has already begun.

Cadence Minerals Plc (LON:KDNC) and Australian-listed Clancy Exploration Limited (ASX:CLY) have agreed that they will continue to explore the potential of the Leogang Cobalt-Nickel Sulphide Project in Austria despite concerns about overlapping licences. AIM-listed Cadence noted that Clancy has provided an update on its exploration licences at the Leogang Project. Cadence owns a 10% direct interest in these licenses.

Strategic Minerals Plc (LON:SML) has set a new record for iron ore sales from its New Mexico tailings business. Its subsidiary, SMG, sold US$999,000 (13,897 tons) worth of magnetite from the Cobre operation in August against US$487,000 (7,206 tons) in July.

IronRidge Resources PLC (LON:IRR) has completed the acquisition of 100% of Tekton Minerals, which owns a number of gold mining licences in Chad. Tekton's technical and logistics team will join IronRidge, while the minority shareholders have also taken their consideration in shares.

Harvest Minerals LTD (LON:HMI) continues to deliver promising results from tests of its fertiliser product on coffee plants. The company is now shifting its focus to securing licensing and sales.

Jubilee Platinum PLC (LON:JLP) has signed a new partnership agreement with Dilokong Chrome Mines for the processing of ore from the Dilokong projects in South Africa. Jubilee has already reaped substantial rewards from its existing partnership with Dilokong, under the terms of which it processes chromite tailings ore to recover separately chrome and the platinum group elements.

Eco (Atlantic) Oil & Gas Ltd. (LSE:ECO) (CVE:EOG) announced that it and operating partner, Tullow Oil plc (LON:TLW) have completed an approximate 2,500 km2 3D seismic survey of the Orinduik Block, offshore the Co-operative Republic of Guyana. Eco said the 3D Survey was conducted by Schlumberger Guyana Inc. (Western Geco) and has been completed successfully and on schedule.

Sound Energy PLC (LON:SOU) told investors it has appointed JJ Traynor as the company’s new chief financial officer. The Morocco-focussed gas firm highlighted that Traynor will he finance, commercial, business development and investor relations functions.


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