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Proactive news snapshot: Alliance Pharma, TyraTech, Galileo Resources …

A glance at some of the day's highlights from the Proactive Investors newswire
Your daily round-up from the world of Proactive

Alliance Pharma plc (LON:APH) is acquiring a pesticide-free head lice product line for up to US$17.5mln – giving the growing healthcare company a third international brand. It is paying an initial US$13mln for Vamousse, which it is acquiring from TyraTech PLC (LON:TYR) (LON:TYRU) , the AIM-listed developer of the range. This will be followed by a deferred pay-out of as much as US$4.5mln based on sales targets.

Galileo Resources PLC (LON:GLR) is shortly to commence drilling at the Star zinc project in Zambia, held in joint venture with BMR Resources. The company expects the results to go towards a new resource update that will be prepared by consultants CSA Global.

Highlands Natural Resources Plc (LON:HNR)  has seen oil and gas production from the Powell and Wildhorse wells at East Denver rise further. Oil and gas production from a month of flow-back testing has now stabilised at 1,771 barrels daily compared to 1,333 barrels reported last week.

BATM Advanced Communications Limited (LON:BVC) has entered into an agreement to sell a wholly-owned building situated at Yokneam, Israel for roughly US$9.7mln, some US$5.9mln above its book value.

Silence Therapeutics PLC has sold a 30% stake in fellow RNA interference specialist Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) at a £2.9mln profit. In January it paid £9.2mln for 6.83mln Arrowhead shares. In a recent deal it offloaded 2.036mln for £5.6mln, booking the gain in the process.

Cadence Minerals (LON:KDNC) said investee firm Auroch Minerals has announced mixed assay results for the first two holes of the 4-hole drilling program at Tisová in the Czech Republic. The group said Auroch’s statement showed that cobalt and copper assay results from Tisová have not replicated the results obtained from grab samples reported from historic waste dumps on site, although gold results - including [email protected] grammes per tonne - are closer to expectations.

Savannah Petroleum PLC (LON:SAVP) has updated investors on its proposed acquisition in Nigeria, and gave details of a share placing that’s intended to fund the deal. It is to issue up to US$250mln of new equity to institutional investors. As well as supporting the Nigeria transaction, the injection of funds will also help pay for a planned drilling campaign in Niger.

Ergomed Plc (LON:ERGO) said its pharmacovigilance subsidiary PrimeVigilance will be organising and presenting at the International Society of Pharmacovigilance's Intelligent Automation in Pharmacovigilance seminar.

Rose Petroleum PLC (LON:ROSE) has boasted of the ‘excellent quality’ of its initial results from the recent 3D seismic exploration programme in the Paradox basin, Utah. Processing of the full seismic data is ongoing, albeit ‘now nearing completion’, though Rose is pleased with the results seen thus far.

Europa Oil & Gas Holdings PLC (LON:EOG) has agreed to sell its stake in the offshore UK P2034 licence to Egdon Resources Ltd (LON:EDR) in a deal worth up to £1.45mln. It effectively expands Egdon’s footprint offshore North Yorkshire, where it already has a project immediately adjacent to P2034.

Solo Oil PLC (LON:SOLO) has highlighted ‘technical progress’ for the group’s Helium One investment, in Tanzania, where the group has been working to advance potential drill locations. Operations have involved soil and seep geochemistry data, and work designed to enhance and reprocess existing seismic data in order to gain more detailed structural and stratigraphic mapping.

Chaarat Gold Holdings Limited (LON:CGH) remains on track to deliver a resource update for the Tulkubash heap leach project in the Kyrgyz Republic in January 2018, following the return of assay results from recent drilling. A feasibility study is due in the first quarter.

Lionsgold Limited (LON:LION) announced, after the close on Friday, that it has raised an additional £200,000 on the same terms as its share placing announced last week. Big Pic in November.

Tertiary Minerals plc (LON:TYM), which saw its shares surge higher on Friday, said after the close that it was not aware of any other reason for the movement other than the recently announced memorandum of understanding (MoU) signed with global commodities group Possehl. The MoU provides for the companies to enter into an offtake agreement to support Tertiary’s three fluorspar projects. Big Pic in November.

Bacanora Minerals Ltd. (BCN)  has announced that Martin Vidal, president and a director of the company, has resigned his positions with effect from 30 November 2017.  The London and Canadian listed lithium exploration and development company said Vidal will remain with the company in an advisory/consultancy capacity going forward.

appScatter Group  PLC (LON:APPS), the recently-listed business-to-business Software as a Service platform  has said three directors of the company, including its non-executive chairman, Clive Carter purchased shares in the company on December 1. The firm said Carver purchased 20,408 ordinary shares at a price of 49.0p each taking his total holding to 208,300 ordinary shares, representing 0.33% of the company's issued ordinary share capital. appScatter said its sales director, Jason Hill, and Michael Buchen, a non-executive director also purchased shares at 49p each as well.

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