Ortac Resources Ltd (LON:OTC) told investors that a new phase of work is now planned for the Akyanga gold project. The company’s 84.7% owned associate Casa Mining has decided on the new initiatives following a review of previous exploration activity, and it is now looking to expand the project to incorporate structures that run parallel to Akyanga.
Ceres Power Holdings PLC (LON:CWR) said its first half income is expected to increase by around 80% and also revealed that it has signed a new technology assessment agreement with a leading global original equipment manufacturer (OEM). The developer of low cost, next generation solid oxide fuel cell technology also said it is in final stages of agreement for further OEMs to work with its SteelCell® technology and is confident of signing further contracts by early 2018.
Lithium group Bacanora Minerals Limited (LON:BCN) has received its second piece of good news this week through an offtake deal and share subscription with a Chinese investment group. On completion of the placing, Cadence Minerals Plc (LON:KDNC) said it will hold approximately 7% of the equity in Bacanora Minerals and 30% of the Mexalit and Megalit joint venture companies.
Be Heard Group PLC (LON:BHRD) has said that, after a challenging first half, it anticipates its content marketing agency, Kameleon will return to profitability in the final quarter of the financial year following excellent new business wins in recent weeks. The AIM listed digital marketing services group said Kameleon secured several new clients during the second half as part of an integrated solution involving at least two Be Heard agencies.
Xtract Resources PLC (LON:XTR) is to make a S$700,000 strategic investment in Moz Gold Limitada, the firm which currently operates the M Block in the Western mining area of its Manica mining concession in Mozambique. The AIM listed firm said it is to make an initial convertible loan of US$400,000 to Moz Gold, with the loan and interest at 30% per annum to be repaid over 5 months. Xtract added that it has the right to convert the loan at any time into a 25% equity interest in Moz Gold.
Canadian Overseas Petroleum Limited (LON:COPL, CVE:XOP), via its 50% owned ShoreCan joint venture, has been awarded a new asset from the Mozambique authorities. ShoreCan is to take control of Block PT5-B, spanning some 4,356 square kilometres on the Mozambique coastal plain.
Keywords Studios PLC (LON:KWS) has continued its acquisition spree and boosted its audio services by buying Mexico-City based LOLA for US$1.03mln from its founders. LOLA, which had revenues of US$1.2mln in 2016, has a reputation for quality and Keywords already uses its services to complement those of its local voice recording studio - the Kite Team Mexico, the firm said.
Strategic Minerals Plc (LON:SML) will now buy the Leigh Creek copper mine in South Australia from Resilience Mining Australia outright following due diligence. As reported in October, Strategic revealed it was to pay a total of A$5mln, mainly by way of royalties in combination with cash, shares and taking on debt, but it has renegotiated terms and will pay an equal mixture of cash and equity totalling A$3mln (around £1.710mln) to buy it outright.
Ergomed Plc (LON:ERGO), the pharma services and drug development firm, said finance chief Stephen Stamp has been appointed chief executive after Dr Dan Weng decided to step down with immediate effect. Meanwhile, Dr Jan Petracek becomes chief operating officer and a board director.
Energy specialist Aggregated Micro Power Holdings plc (LON:AMPH) expects the second half to be strong after producing a solid performance in the first six months of its financial year. The company specialises in the sale of wood fuels and installs commercial-size biomass-fuelled boilers used by schools, care homes and business parks.
Hummingbird Resources PLC (LON:HUM) said it expects to pour its first gold from the Yanfolila mine in Mali with the processing of ore well underway. Supply from the pad stockpile is now going through the mill and carbon in leach process plant in order to extract the yellow metal. Commercial ramp up will begin in the first quarter of next year and the aim is to produce 130,000 ounces of gold.
SDX Energy Inc (LON:SDX CVE:SDX) has confirmed that the KSR-15 well, at the Sebou field onshore Morocco, has now been tested and put on production. The well yielded into the sales line a restricted average rate of 7.52mln cubic feet of gas per day during the testing phase.
Thor Mining PLC (LON:THR) (ASX:THR) said it has decided to appoint a further mining industry professional to the board to assist project development and commercialisation activities. In a statement, the AIM-listed group said the role to be filled is expected to be an additional executive director and the candidate is currently undergoing standard due diligence. The firm added that a further update will be provided when due diligence is completed.
Pan African Resources plc (LON:PAF) has updated investors as it is restructuring its black economic empowerment arrangements. It is replacing current BEE equity shareholdings, in PAR Gold Proprietary Limited, with holdings in Emerald Panther Investments 91 Proprietary Limited. PAF’s mining interests are to be held via the SA Holdco vehicle.