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Proactive news snapshot: Ceres Power, Telit Communications, Rainbow Rare Earths …

Published: 15:30 10 Jan 2018 GMT

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Fuel cell technology company Ceres Power Holdings PLC (LON:CWR) has signed another joint development agreement with an original equipment manufacturer (OEM). Ceres noted this is the fifth co-development agreement it has signed in less than two years.

Telematics specialist PST Electronics has selected Telit Communications Plc's (LON:TCM) deviceWISE platform to support its plans to scale its Internet of Things suite of solutions into new global markets.

Rainbow Rare Earths Ltd (LON:RBW) has initiated a new round of drilling at the Gakara project in Burundi. If successful, the drill results will be incorporated into a new resource update due later this year. Gakara is already in production, with ramp up continuing.

Amryt Pharma PLC (LON:AMYT) said it has expanded its route to market for its key product Lojux. It has inked an exclusive distribution deal with GryNumber Health covering Central and Eastern Europe. It builds on similar deals in Saudi Arabia and Switzerland.

Background check specialist ClearStar Inc (LON:CLSU) will hit market forecasts this year as revenues continued to rise in the second half. Strong demand for job and employee screening from transport firms, contractors and in education lifted direct services revenue by 21% year-on-year, while the number of active clients here rose by 18%. The number of people screened by ClearStar for direct clients rose by 26% year-on-year.

Tharisa PLC (LON:THS), the platinum group metals (PGM) and chrome producer, said the handover from contractors to its own mine employees at its operation in South Africa’s Bushveld Complex had been concluded successfully. And, judging from the latest production update, in which the company also restated its full-year guidance, the process appears to have gone without a hitch.

W Resources PLC (LON:WRES) told investors it has hired allmineral Aufbereitungstechnik GmbH which will provide design and construction services for the La Parrilla mine’s new concentrator. The concentrator is the third core component of La Parrilla’s plant infrastructure.

Investors in Curzon Energy Plc (LON:CZN) are looking forward to an extensive well e to start shortly at the Coos Bay coal bed methane project, in Oregon, United States. Curzon, in a statement , said that a five well workover programme has now been completed and that outcomes have so far “completely correlated” with the pre-programme technical work.

A 50%-owned subsidiary of Bacanora Minerals Ltd (LON:BCN) has acquired 295 hectares of new exploration ground situated within 5 kilometres of the Zinnwald lithium project, also 50%-owned. The new ground covers a previously-mined area called Falkenhain. The thinking is that material from the new ground could help to prolong the life of any project developed at Zinnwald.

Anglo Asian Mining Plc (LON:AAZ) has announced that its president and chief executive efficer, Reza Vaziri has agreed to extend the term of his loan facility to the company by one year, with the interest rate payable also reduced.

Africa-focused energy and resource company Kibo Mining PLC (LON:KIBO) held further talks with the Tanzanian Ministry for Energy and Tanzania Electric Supply Company earlier this week. During those meetings, Kibo said it made “significant progress” towards the expedited completion of the power purchase agreement process for the Mbeya Coal to Power project.

Ortac Resources Ltd now owns 87.4% of Casa Mining as shareholders continue to accept its offer to acquire all Casa shares. Casa shareholders have until May 2018 to accept the offer, but according to Ortac acceptances are now coming in daily. Casa Mining owns significant gold resources in the Democratic Republic of Congo.

Progressive Equity Research has initiated coverage on Echo Energy Plc (LON:ECHO) noting that the firm will be transformed by the deal, announced in November, to farm into four licences in the Austral basin in southern Argentina. The firm concluded that the combination could provide investors with “an exciting risk/reward profile.”

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