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Proactive news snapshot: Sound Energy, Horizon Discovery, Hurricane Energy, Gemfields...

A glance at some of the stories on the Proactive newswire today
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Your daily round-up from the world of Proactive

Sound Energy PLC (LON:SOU) expects to deploy a field development at the Tendrara project using regularly spaced horizontal wells, of similar design to the recently drilled TE-7 well. In a statement, the company gave investors details of new analysis of  theTE-7 well, onshore Morocco, based on newly retrieved pressure build-up data. 

Horizon Discovery PLC (LON:HZD) is to more than double its revenues through the acquisition of General Electric subsidiary Dharmacon, a deal that will propel it to the front rank of human gene technology. Dharmacon is the acknowledged global leader in cell behaviour or RNAi products and is growing rapidly in gene editing, Horizon’s area of expertise.

Hurricane Energy PLC (LON:HUR) is to bank another US$10mln as Cenkos Securities and Stifel Nicolaus have taken up options to issue more bonds. The brokers ran Hurricane’s recent US$220mln bond issue, and they had a provision for a further US$10mln to be issued.

Pallinghurst is to exercise its right to compulsorily acquire the Gemfields PLC (LON:GEM) shares from those shareholders who have not yet accepted its takeover offer. Gemfields is advising the hold-out shareholders to accept the offer, as they will get their recompense sooner than they would were they to wait for the compulsory acquisition procedure to run its course.

The big day has arrived for PCF Group Plc (LON:PCF), which has launched PCF Bank and is ready to start taking retail deposits after receiving green lights from the regulators.

Banking and wealth management software provider Lombard Risk Management plc (LON:LRM) is encouraged by its pipeline of new business prospects, and expects revenues in the current financial year (to end-March 2018) to be weighted to the second half, as per usual.

The order book at advanced materials group Haydale Graphene Industries PLC (LON:HAYD) is at a record level, the company revealed, as it said total income for the year just ended is expected to be in line with market expectations.

Cello Group plc (LON:CLL) has told investors it enjoyed a “good” first half of 2017 as it made strides in both its Health and Signal businesses.

The momentum built in recent years by pizza delivery outfit DP Poland Plc (LON:DPP) is showing no signs of stopping, with first half sales jumping once again. Total system sales, which includes the ten new stores opened so far this year, increased by 50% year-on-year to PLN27.5mln (H1 2016: PLN18mln) for the six months to 30 June.

Coming mid-way through a thoroughly communicated hiatus in the Icewine-2 well programme, 88 Energy Ltd’s (LON:88E, ASX:88E) quarterly activity report was largely an obligatory box-ticking exercise – nonetheless, the explorer was able to remind investors of its notable cash buffer. 88 Energy, which has seen its shares slump in recent weeks, had some A$31.6mln of cash at the end of June.

TLOU Energy Limited (LON:TLOU) has made good progress over the last quarter says house broker Shore Capital. A contract for a 250km seismic survey that starts this quarter and  a mining licence application at the Lesedi CBM-to-power project in Botswana were the highlights. 

Shanta Gold PLC (LON:SHG) has started to review its cost base in Tanzania after recent changes to the finance and mining laws in the country. As a result, Shanta expects that its next gold shipment will see royalty rates increase to 6% from 4%, while a 1% clearing fee has already implemented.

Petropavlovsk PLC (LON:POG) has appointed Sergey Ermolenko as its acting chief executive officer with immediate effect, replacing Pavel Maslovskiy, who resigned yesterday. Ermolenko, who is currently general director of management company Petropavlovsk, was CEO of Petropavlovsk PLC from December 2011 to November 2014 when Maslovskiy was serving as a Russian senator. 

Obtala Limited (LON:OBT), the agricultural and forestry company which recently completed the US$14.6mln acquisition of African forestry business, WoodBois International has issued a positive update on its operations for the second quarter of 2017. 

Avation PLC (LON:AVAP), the commercial passenger aircraft leasing company, said that Mandarin Airlines has approved the selection from Avation and ATR of a series of aircraft for lease and purchase. The company has now placed all 2017 deliveries in its order book, and has six further new ATR 72 aircraft on order for delivery in 2018 and 2019 and 27 options extending further forwards. 

Capital Network has issued a research note on BOS GLOBAL Holdings Ltd (LON:BOS), reviewing the roadmap for the group and arguing that “progress is very much in line with our previous view.”

Capital Network has also issued a research note on Medgold Resources Corp (CVE:MED) which concludes that the company “is run by a highly experienced management team with a successful track record of building value in resource companies.”

Asiamet Resources Limited (LON:ARS) said systematic mapping and rock chip sampling was recently completed in the northern part of the Beruang Kanan West (BKW) prospect in Central Kalimantan, Indonesia, which showed "significant potential" for the discovery of additional copper mineralisation. BKW is located approximately 1km west of Asiamet's core Beruang Kanan Main (BKM) Copper Project where bankable feasibility studies are well advanced. 

African Potash Ltd (LON:AFPO) has unveiled a deal with African Agronomix (AAX) which sees the latter potentially acquiring all of the Lac Dinga project in the Republic of Congo. It would see African Potash, which holds 70% of Lac Dinga via the La Société des Potasses et des Mines SA (SPM) vehicle, receive 5 mln new shares in AAX as well as warrants giving it the option to buy another 2.5 mln (each priced at 5p).


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