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Proactive news snapshot: Lombard Risk Management, ValiRx, Connemara Mining …

A glance at some of the day's highlights from the Proactive Investors newswire
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Banking and compliance software company Lombard Risk Management plc (LON:LRM) has agreed to a 13p a share takeover offer from Vermeg Group. The shares shot up to 12.5p from last night’s close of 6.55p on the news. The terms value Lombard at around £52.08mln. Vermeg has received irrevocable undertakings to accept the offer from shareholders accounting for around 38.8% of the issued share capital of Lombard.

ValiRx Plc (LON:VAL) has received positive news regarding its US patent application for its lead therapeutic compound, VAL201.

Connemara Mining Company PLC (LON:CON) has reported high gold grades from one of three holes drilled recently at its Mine River prospect in Wicklow and Wexford in Ireland.  Assay results from the hole at the Tombreen target indicated an 8m section grading 4.53 g/t gold, which included 2m at 16.1 g/t. No Big Pic yet.

Oil and gas services group ADES International Holding Ltd (LON:ADES) told investors it has successfully extended two existing rig contracts in the Gulf of Suez area. The contracts for the Admarine II and Admarine IV rigs are with the Gulf of Suez Petroleum Company (GUPCO), a joint venture between BP PLC (LON:BP) and the Egyptian General Petroleum Company, was due to expire at the end of 2017.

Supply shortages helped Aussie-based mineral sands miner Base Resources Limited (LON:BSE) achieve record prices for its spread of base metals. Base produces ilmenite, zircon and rutile from the Kwale mine in Kenya and a combination of two bulk rutile sales and higher zircon prices increased the average revenue per tonne to a record US$323 per tonne (US$271) in the three months to December.

Asiamet Resources Ltd (LON:ARS) has told investors it has continued to unearth high grade base and precious metal mineralisation at the BKZ project in Kalimantan, Indonesia. The company, in a statement, noted that the mineralisation has been confirmed over a 300 metre strike length and across 110 metres of width.

Metal Tiger PLC (LON:MTR) announced that Charles Hall, the AIM listed group’s non-executive chairman has purchased through the market 1,000,000 ordinary shares in the company at an average price of 2.44p each for a total investment of £24,400. Following this transaction, the group, said, Hall has a beneficial interest in 27,858,406 ordinary shares represent circa 2.55% of Metal Tiger’s issued share capital.

Kromek PLC (LON: KMK), the radiation detection technology company focusing on the medical, security and nuclear markets, has announced the immediate appointment of Cantor Fitzgerald Europe as joint broker to the company. Cenkos Securities will remain as Kromek’s nominated adviser and joint broker.

Harvest Minerals Limited (AIM:HMI), the AIM listed fertiliser development company, has announced that Shard Capital Partners will replace Mirabaud Securities as joint broker to the company.  Beaufort Securities remains as joint broker to the company.

Horizonte Minerals Plc (LON:HZM) (TSX: HZM) announced that it has completed the second and final tranche of its equity fundraising after successfully placing 60,587,500 ordinary shares in the Canadian portion, raising gross proceeds of C$3,635,250. When combined with the £7mln announced on 19 December 2017, the company said it has raised a total of £9.2mln, an increase on the previously announced quantum of £8.5mln.

HemoGenyx Pharmaceuticals PLC (LON:HEMO), the biotechnology company developing novel therapies to transform bone marrow, or blood stem cell, transplantation for the treatment of blood diseases, said it has welcomed New York Lieutenant Governor Kathy Hochul to its labs at the SUNY Downstate Medical Center Biotech Incubator.


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