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Proactive news snapshot: Union Jack Oil, Hurricane Energy, Sirius Minerals …

A glance at some of the day's highlights from the Proactive Investors newswire
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Union Jack Oil PLC (LON:UJO) highlighted “high impact” drilling planned for the Biscathorpe and Holmwood projects as the onshore British oiler updated investors on upcoming work programmes anticipated for 2018. It also expects a new planning application to be made for the stalled Wressle oil field development project. The new documents are due to be submitted to the authorities in April, UJO noted.

Hurricane Energy PLC (LON:HUR) has confirmed that another box has been ticked off its field development checklist, with the successful completion of buoy 'dry' trial fit testing at dry dock in Dubai. The Aoka Mizu FPSO (floating production storage and offloading) vessel is being upgraded at Dubai Drydocks World ahead of its deployment as the key piece of equipment in the planned Lancaster field early production system.

Sirius Minerals PLC (LON:SXX) has awarded the contract for drilling the shafts at its polyhalite project in Yorkshire to Polish firm DMC after ending discussions with Scarborough-based AMC UK. AMC UK had received a ‘notice of award’ in July last year for the contract, with expectations for a finalised agreement to be signed soon after.

Midatech Pharma Plc (LON:MTPH, NASDAQ:MTP) said trading last year was in line with forecasts with the focus in 2018 turning to three key clinical trials. A first in-human study of Q-Octreotide, for the treatment carcinoid cancer and the hormonal disorder acromegaly, is expected to complete late this year or early next.

BB Healthcare Trust PLC (LON:BBH) comfortably outperformed its benchmark during what it described as a volatile year for the sector. Chairman, Professor Justin Stebbing, said he hoped 2018 would be driven more by stock fundamentals than the politics now wrangling in the US over the Affordable Care Act had ceased.

Iofina plc (LON:IOF), specialists in the exploration and production of iodine, has announced the completion of construction and commencement of production at its IO#7 IOsorb® plant.  In a statement, the AIM listed firm said that the site has undergone hydrostatic testing and evaluations of its systems and is currently processing iodine rich brine water. Big Pic in September.

Greatland Gold plc (LON:GGP) shares moved on the front foot as the company updated on plans to start a drill programme, at the Havieron licence, in April. The explorer expects to encounter a potentially large mineralised system, based on results detailed aeromagnetic and ground gravity data.

88 Energy Ltd (LON:88E) has kicked off its new 3D seismic exploration programme in Alaska. The programme will cover a 460 square kilometre area, and the aim is to ‘firm up’ potential exploration well sites for the broader Project Icewine venture.

Kibo Mining PLC (LON:KIBO) has signed a Memorandum of Understanding with the Tanzania Electric Supply Company, known as TANESCO, in regard to a Power Purchase Agreement for power that will be produced from Kibo’s 300MW Mbeya coal-to-power project. The MOU constitutes the precursor to the finalisation of the PPA with TANESCO.

NQ Minerals Plc (NEX:NQMI) told investors that it has raised £130,000 in new working capital through an issue of new shares. The company, in a stock market statement, revealed that 1.35mln new shares have been issued – with 1mln shares priced at 10p and 352,941 shares priced at 8.5p. A further 4mln new shares are being issued at the equivalent of 7.875p as part of a deal to extend an existing lending facility.

Plexus Holdings PLC (LON:POS) has sold two POS-GRIP rental wellhead sets to Russian partner Gusar for about £1.4mln. The kits will be rented out for gas exploration within the Russian Federation under the agreement signed in 2016 between Gusar and Konar, two independent Russian oil and gas equipment manufacturers.

Tekcapital PLC (LON:TEK), the UK intellectual property (IP) investment group focused on creating marketplace value from university technology, announced that Belluscura PLC has concluded a private placement to raise approximately US$1.33mln through Dowgate Capital Stockbrokers and converted loans equal to approximately US$268,000 to equity under the same terms as the Private Placement. The private placement was priced at 18 US cents (13p) per share, giving Belluscura a post-money valuation of approximately US$3.7mln. Tekcapital holds around 39% of Belluscura’s issued share capital.

Feedback plc (LON:FDBK) announced today that it has appointed David Crabb as chief executive officer (CEO) of the medical imaging company with immediate effect. The group said Crabb, most recently CEO of software company Cambridge Online Systems, has previously held director-level roles in medium-sized technology and outsourced solutions companies with revenues of between £50mln to over £1bn, with responsibilities including business optimisation, sales and marketing, and workforce leadership.

Chaarat Gold Holdings Ltd (LON:CGH), the gold exploration company operating in the Kyrgyz Republic, has appointed Peter Carter as its new chief operating officer.  Carter will lead the Bishkek team and his primary responsibilities will include preparing the company for operational readiness, building the local team, installing international safety standard and establishing suitable environmental management plans.


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