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Proactive news highlights: Mikango Resources, NetPlay, Plexus and more

Published: 15:49 02 Feb 2017 GMT

Coffee and

Shares in dual-listed Mkango Resources Ltd (LON:MKA, CVE:MKA) shot up as it announced plans to start exploration on its Thambani uranium project.

Following recent management site visits, Mkango plans to commence its 2017 exploration programme in the Thambani licence area, in Malawi, during the first quarter.

The decision follows the airborne geophysics survey last year that was funded by the World Bank.

Hummingbird Resources Ltd (LON:HUM) said the government of Mali has made an US$11mln investment in the local subsidiary that controls its Yanfolila gold project.

It has exercised an option to take 10% of Société Des Mines De Komana as well as having a ‘non-dilutable’ free carried interest in the same number of shares.

In other news from the gold sector, StratMin Global Resources Plc (LON:STGR) is poised to buy specialist Australian gold explorer Signature Gold Ltd after signing a binding heads of agreement in a deal worth over £9.5mln.

Sula Iron & Gold PLC (LON:SULA) said it expects two drill rigs to arrive in Sierra Leone later this month as samples gave a hint to the potential of its Ferensola Gold Project in the country.

"I am pleased that the latest assay results provide further evidence of gold mineralisation on the Eastern Target, which we will be drilling soon,” said chief executive Roger Murphy.

In the energy sector, Green Dragon Gas Ltd (LON:GDG) is investigating a dual-listing in China to get access to additional capital to develop its portfolio of coal bed methane gas fields.

An exciting drilling programme is approaching for SDX Energy Inc (LON:SDX, CVE:SDX) in Egypt’s Nile delta.

The company, which just sealed expansion through acquisition, has told investors that a rig contractor is now in place for the planned South Disouq exploration well.

US Oil & Gas PLC (USOP) has confirmed that 1.7mln new shares have been issued through a share placing.

The new capital was raised at a price of 27p per share to raise US$594,498.

Plexus Holdings PLC (LON:POS) has extended its contract with Shell Brunei (BSP) for its POS-GRIP wellhead technology.

The extension covers the supply of both High Pressure/High Temperature and standard pressured Wellhead and Mudline systems and services and is the fourth contract signed between the companies under a 2012 framework agreement. Plexus has worked with BSP since 2006.

On the technology side of things, it’s time to cash in the chips at NetPlay TV PLC (LON:NPT), where Swedish rival Betsson has made an agreed bid for the interactive gaming company.

The directors of the UK-listed company are recommending shareholders accept Betsson’s 9p a share offer, which values NetPlay at around £26.4mln.

Meanwhile, L1 Capital Global Opportunities Master Fund has shown its faith in CloudTag Inc (LON:CTAG) by converting another parcel of loan notes into shares.

£400,000 of notes were converted at a conversion price of 4.5 pence per ordinary share, resulting in the issue of 8.89mln shares in the maker of wearable devices that monitor fitness, health and well-being.

In other news, Tissue Regenix Group PLC (LON:TRX) has had its regenerative skin graft Dermapure added to the US Veteran Affairs Federal Supply Schedule (FSS).

The FSS group is  the largest integrated healthcare system in the US covering almost 9mln people including military veterans in a network of  152 hospitals and 800 outpatient clinics.

Sirius Minerals PLC (LON:SXX) has announced that chief financial officer Thomas Staley has now been handed a position on the board, as an executive director.

Food ingredients business Real Good Food PLC (LON:RGD) said sales grew 8% year-on-year in the fiscal third quarter, which includes the important Christmas trading period.

The company remains confident that full year revenue and underlying earnings (EBITDA) will be in line with expectations, though the company noted it is not immune from the impact of higher commodity prices, which has been hitting margins.

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