Permission has been granted by the Chinese foreign exchange regime to remit the proceeds but a few administrative details need to completed before it can receive the money, ECR said. Shares rose 8%.
The 40 loan notes will be bring in a net £850,000 for the oil drilling fluids enhancer. In addition, Graphene said it expects to complete its debt restructuring by the end of the current quarter of this year.
Jespal Deol, chief executive, said: "We are pleased with the Tranche 2 drawdown by Darwin further validating the continued progress that we have made in advancing our business including our water and enhanced polymer divisions.”
NQ Minerals PLC (LON:NQMI) has had the acquisition of Keen Pacific Limited approved by its shareholders. Tarver Partners holds 100mln shares or 58.7%. Walter Doyle, a director of NQ, is the ultimate beneficiary of Tarver Partners.
NQ minerals is developing Ukalunda, in Queensland, a 130 sq km licence with 33 prospects. One, Sunbeam, is now proceeding to formal grant following conclusion of compensation agreements on the area it said last week. Metallurgical testing results suggest that bulk flotation to produce a saleable concentrate may be an option.
Non –executive directors of property group Secure Property Development and Investment PLC (LON:SPDI) haae agreed to accept fees n lieu of fees at 35p per share, a 100% premium to the closing share price on 12 May.
Sirius Minerals PLC (LON:SXX) has started detailed discussions with a number of new offtakers for its polyhalite fertiliser it told analysts at a visit to its site in Yorkshire last week. Richard Knights, at house broker Liberum and one of the those that visited the site, said Sirius is now undertaking multiple, detailed conversations with major potential offtakers.
Lithium explorer Bacanora Minerals Ltd (LON:BCN) has strengthened its board as it pushes ahead with feasibility studies at key projects, Sonora in Mexico and Zinnwald in Germany. Joining as non-execs are Andres Antonius, based in Mexico City and a country specialist and former government adviser, while Junichi Tomono is head of the Japanese trading giant Hanwa Co, which recently signed an offtake deal with Bacanora.
Shares in Redx Pharma Plc (LON:REDX) jumped more than 7% on Monday morning after it confirmed it will make a clinical trial application (CTA) and investigational new drug (IND) application for its RXC005 leukaemia treatment later this year. The confirmation comes after the drug researcher and developer presented further “potent efficacy data” at the prestigious 17th International Workshop of Chronic Lymphocytic Leukaemia (iwCLL) in New York over the weekend.
Haydale Graphene Industries PLC (LON:HAYD) has bought out the outstanding minority of US subsidiary Haydale Technologies Inc from InVentures for US$513,500. The price for the 13.5% interest stake was determined by an independent valuation conducted on HTI, which included the acquired nanomaterials business, Advanced Composite Materials.
Caledonia Mining Corporation PLC (LON:CMCL TSE:CAL) has reported a fatality at the Blanket gold mine in Zimbabwe. Mining at Eroica ore body, which contributed 10% of production in the last quarter, was briefly suspended
Peter Hambro will not stand for re-election as chairman of Petropavlovsk PLC (LON:POG), after the company decided as development continues the appointment of an independent chairman would be more appropriate for corporate governance purposes. Under existing proposals from the company, Hambro would remain as a director and Andrew Vickerman, a director with Trafigura, would become chairman.
The Police Service of Northern Ireland (PSNI) has agreed to supervise transportation and the use of certain rock-breaking materials and explosives in relation to the development of Galantas Gold Corp’s (LON:GAL) Omagh mine for three days a week, two hours per day. This will be enough to allow underground development at Omagh to get underway, although Galantas does caution that more PSNI man-hours will be required for a longer-term and more sustainable development programme.