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Proactive news highlights: featuring Eland Oil & Gas, Stride Gaming, Motif Bio, Avesoro and more…

Published: 16:10 31 Jan 2017 GMT

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Eland Oil & Gas PLC (LON:ELA) told investors it has started production at the Opuama field in Nigeria.

The company said it has now finalised the implementation of crude export via a shipping solution, rather than problematic pipelines, and production into the main storage vessel is underway.

A shuttle vessel will shortly arrive on site to begin transporting crude, it added.

Elsewhere, strong organic growth in 2016 coupled with a few acquisitions means Stride Gaming PLC (LON:STR) is now one of the largest online bingo operators in the UK with a 10% market share – but it wants more.

The ambitious target comes on the back of a decent year of trading for the company which was in line with management expectations.

The “strong” performance of the real money gaming business more than offset slightly weaker-than-expected trading in the social gaming division.

Motif Bio Plc (LON:MTFB) has passed a major landmark after treating the final patient taking part in the first of two phase III clinical trial of its next-generation antibiotic, iclaprim.

Researchers are using the study to assess the safety and efficacy of the treatment of sufferers of acute bacterial skin and skin structure infections (ABSSSI).

In all 600 people took part in the REVIVE-1 trial, with the results set to be outline in the second quarter.

In other news, Scancell Holdings Plc (LON:SCLP) has confirmed it will kick off a phase II clinical trial of its potentially breakthrough cancer treatment in the second half.

SCIB1, which has produced remarkable survival data treating melanoma patients in an early-stage trial, will be administered in combination with another new breed of drug called a checkpoint inhibitor.

West African gold producer Avesoro Resources Inc (LON:ASO) has revised the lending terms on its project finance facilities loan on a more favourable basis.

The improved conditions and rescheduled repayment terms come following a personal guarantee from non-executive director Mehmet Nazif Gűnal and a corporate guarantee from Avesoro Holdings Limited – the firm’s 73.5% beneficial owner.

Greatland Gold PLC (LON:GGP) has followed up the recent positive news from its Ernest Giles property with solid results from Warrentinna, one of its two Tasmanian gold projects.

The latest drill results have shown that gold mineralisation extends further north and further east than originally thought.

All of the 4 metre (m) composite holes drilled struck gold, including 4m at 2.8 grams per tonne (g/t) gold (Au) from surface [hole WT040] and 4m at 2.9g/t Au from 20m below the surface [hole WTR038].

In other Greatland news, Metal Tiger PLC (LON:MTR) has given notice that it will convert 50mln warrants into Greatland shares for a total amount of £100,000 (0.2p per share).

Berkeley Energia Ltd’s (LON:BKY, ASX:BKY) fourth quarter was one of the most significant in the group’s history, according to managing director Paul Atherley.

Construction is presently underway to bring the Salamanca uranium mine, located in western Spain, into production with a targeted start date in 2018.

In the three months ended December 31 the company progressed the development, landed an important off-take deal to sell a portion of future production and it raised US$30mln of new capital.

Over at Ariana Resources plc (LON:AAU), it’s told investors it expects the tailings storage facility (TSF) at its Kiziltepe mine in Turkey to be completed within the next ten days.

Extremely cold temperatures – as low as -7ºC – and heavy snow over the past month or so have delayed the final laying of a geomembrane at Kiziltepe’s tailings storage facility (TSF).

Tern PLC (LON:TERN) has told investors its Internet of Things (IoT) subsidiary Device Authority has brought industry heavyweight George Samenuk onto its board as non-executive director.

Samenuk is the former chairman and chief executive of McAfee (NYSE:MFE) one of the largest – and most recognisable – names in the software security business.

And finally, five directors at WideCells Group PLC (LON:WDC), including chief executive João Andrade, have each purchased a further 20,000 in the stem cell services group, paying an average price of 13.34p per share.

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