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Proactive news snapshot: Jersey Oil & Gas, Bacanora Minerals, PowerHouse Energy Group …

Published: 15:45 20 Oct 2017 BST

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Jersey Oil and Gas PLC (LON:JOG) has confirmed it has closed the books on its £20mln share placing, with 10mln new shares being issued at a price of 200p. In late afternoon trading, the AIM-listed shares were changing hands at 211.5p each, down 16.7% on last night's close, holding above the placing price. 

Bacanora Minerals Ltd reached another milestone in its bid to start mining lithium from its flagship Sonora project in Mexico with the receipt of environmental approval from the government

PowerHouse Energy Group PLC (LON:PHE) has hosted a two day demonstration of its  waste to gas technology. The Distributed Modular Gasification (DMG) trial ran uninterrupted for 36 hours using tyre crumb as its feedstock. Syngas produced was flared as part of the demonstration.

Kiran Morzaria, chief executive officer of Cadence Minerals Plc (LON:KDNC) – which holds 9.3% of the equity in Bacanora Minerals and 30% of Mexalit and Megalit joint venture companies - commented: "It is great to see the Progress being made at Sonora, the environmental approvals are a key step in the development of bringing this excellent asset into production.

Thor Mining PLC (LON:THR) has brought in £565,000 in what it called a strategic financing to advance its key assets and enhance value. Chairman Mick Billing is to invest £24,000 in the placing, while non-executive director Paul Johnson will put in £25,000.

Rock chip sampling at Cadence Minerals Plc’s (LON:KDNC) investee company Macarthur Minerals Limited (CVE:MMS) has once again highlighted the potential for high grade gold at its Pilbara tenements in Western Australia. A rock chip from a recent reconnaissance visit to its Hillside project returned 8.5 grams per tonne (g/t) of gold.

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