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Proactive new round-up: Savannah Resources, Minds + Machines , Redx Pharma..

Published: 16:19 25 May 2017 BST

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Savannah Resources Plc (LON:SAV) is setting itself up to become a substantial battery grade lithium producer with the acquisition of an asset near to production in Portugal.

The Mina do Barroso prospect in the north of the country already has an approved Mining Plan, Environmental Impact Assessment (EIA) and a 30-year mining licence.

Nicolas Dufour, EVP and General Counsel of employee background check specialist ClearStar Inc (LON:CLSU LON:CLST)  has bought 50,000 shares at 34.5p. It is his total holding at present.

Minds + Machines Group Limited (LON:MMX), one of the world's leading owners and operators of internet top-level domains, said it had appointed a US investment bank to advise it after receiving informal bid approaches. Headwaters MB will “review the various strategic options open to the company to maximise value for shareholders”, MMX said in a stock exchange statement.

Canadian Overseas Petroleum Limited (LON:COPL, CVE:XOP) has unveiled plans to raise £3.25mln via a share placing at 0.5p.

Bacanora Minerals Ltd (LON:BCN, CVE:BCN) is to raise £7.4mln (around C$13mln) through a share subscription at 86p a share. The funds will be used to advance the company’s Sonora lithium project in Mexico, and the Zinnwaldi lithium project in Germany.

Mobile live video streaming specialist Servision Plc (LON:SEV) has received the second half of its US$2mln financing deal agreed with Cascade.

cloudBuy PLC (LON:CBUY), the global provider of cloud-based eCommerce marketplaces, has drawn down the final £1.48mln of its £5.75mln loan note financing.

European Wealth Group Limited (LON:EWG) is close to refinancing ahead of its loan note repayment obligations that are due next month. The company revealed two new external investors are each prepared to pump £3.1mln into the company in return for shares and representation on the board.

Trading in the shares of Redx Pharma Plc (LON:REDX) has been suspended after the drug discovery company was forced into administration. Liverpool City Council (LCC) has called in a £2mln loan that was made to RedX Oncology, a subsidiary of Redx, and Redx was unable to stump up the money.

Niche prescription products company Alliance Pharma plc (LON:APH) is on target to reduced its net debt to around two times underlying earnings this year.

Rambler Metals & Mining PLC (LON:RMM CVE:RAB) expects costs to reduce over the remainder of 2017 as copper production from its new Lower Footwall Zone at the Ming mine picks up.

Shares in Amryt Pharma PLC (LON:AMYT) confirmed at its AGM that substantial progress seen since it floated just over a year ago had continued into the new financial year.

Premier African Minerals Limited (LON:PREM) is ready to start shipping wolframite concentrate from RHA to Durban following the receipt of all required permits from the relevant Zimbabwean authorities.

Lead-zinc explorer Ferrum Crescent Limited (LON:FCR) has started drilling at the Toral project in the Leon province in northwest Spain.

Anglo Asian Mining Plc (LON:AAU) returned to profit and sharply reduced its outstanding debts on the back of higher copper production and a better gold price. Sales of gold ounces dropped more than 16% to 53,281 ounces as Anglo ran into lower grades at its Gedabek mine in Azerbaijan, but the average gold price it received rose by US$92 per ounce.

Canadian Overseas Petroleum Limited (LON:COPL, CVE:XOP) has unveiled plans to raise £3.25mln via a share placing at 0.5p. The proceeds will provide it with the working capital it needs as it executes on its business plan.

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