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Proactive news snapshot: Horse Hill, Kromek Group, Base Resources …

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

UK Oil & Gas Investments PLC (LON:UKOG), Solo Oil PLC (LON:SOLO) and Alba Minerals PLC (LON:ALBA) are among the oil explorers reporting the same update for the Horse Hill - aka Gatwick Gusher - project in southern England - where the next phase of work is now expected to start "in late winter 2017/18”.

Radiation technology company Kromek Group PLC (LON:KMK) saw a solid increase in revenue in the six months to the end of October and remains on course to achieve break-even on an EBITDA basis over the full-year.

Base Resources Limited (LON:BSE) is acquiring an initial 85% stake in the Toliara Sands project in Madagascar for an up-front payment of US$75mln. Base will pay a further US$17mln for the remaining 15% on the completion of certain milestones. To fund the deal a partially underwritten US$100mln placing and entitlement offer is now underway. Broker RFC Ambrian called the deal "fantastic".

Bulk email specialist Dotdigital Group plc (LON:DOTD) is on track with its “ambitious growth plans”, with the strong trading momentum reported earlier this year showing no signs of stopping. dotdigital’s non-executive chairman Frank Beechinor-Collins will tell shareholders at Tuesday’s annual general meeting that the continued progress is being driven by “strong international sales and growing demand for dotmailer in the ecommerce market”.

Challenger Acquisitions Ltd (LON:CHAL) remains confident that the stalled New York Wheel (NYW) project will get rolling again soon as too many vested interests want to see a return on their investment.

Faron Pharmaceuticals Ltd (LON:FARN) has been given the green light to continue a phase II/III study of its lead drug. Traumakine is being tested for safety and efficacy in patients with multi-organ failure (MOF). This is a potential second indication for a treatment which is currently undergoing phase III trials on patients with acute respiratory distress syndrome (ARDS).

Cancer drug discovery firm Sareum Holdings Plc (LON:SAR) has secured patents in Japan and China for its TYK2 kinase inhibitor programme.

Akers Biosciences Inc (NASDAQ:AKER, LON:AKR) has unveiled plans to raise US$6mln. It plans to issue a mix of common stock, warrants and convertible shares.

Tlou Energy Limited (LON:TLOU) told investors it has now completed the first two core holes in its ongoing programme at its coal bed methane projects in Botswana. The first two holes were drilled at the Lesedi project, and the third hole is being drilled in the Mamba area and it is expected to be completed in early 2018.

Rambler Metals and Mining PLC (LON:RMM) has achieved record monthly throughput at its Nugget Pond mill in Canada, where ore from the company's Ming mine is processed. The company processed an average of 1,221 metric tonnes of ore per day and remains on track to hit a quarterly record.

Horizonte Minerals Plc is to acquire the Vermelho nickel-cobalt project from Brazil's national mining champion Vale. The price is US$$8mln, with just US$150,000 up front and the rest deferred. The company is raising £8mln through a placing of shares in the UK and Canada to fund the deal.

European Metals Holdings Limited (LON:EMH) has added the Northwest Cinovec license to the area it has under application with the Czech government. In addition, the company has revealed that recent testwork has demonstrated ways to reduce capex and opex in the roasting process at Cinovec. Cinovec is one of Europe's leading lithium projects.

Capital Drilling Ltd (LON:CAPD) has sealed a new debt refinancing, extending the prior facility by three years. The new arrangement, with Standard Bank South Africa, is said to have “broadly similar” commercial terms as the previous facility – it bears interest at 5.75% above LIBOR – and it will mature in December 2020.

Asiamet Resources Ltd (LON:ARS) has reported positive results from column leach testing, part of the bankable feasibility study for the Beruang Kanan Main (BKM) copper project. The company highlighted that the metallurgical results to date are in line with previous expectations in the project’s preliminary economic assessment back in 2016.

Coinsilium Group Limited (NEX: COIN), the blockchain venture builder and investor, noted the increase in the company's share price today but confirmed that “they know of no specific corporate or operational reason for the increase”. The group pointed out, however, that continues to be active in the increasingly dynamic and popular blockchain technology sector. Consillium shares on NEX were 12.8%, or US$0.03p higher at US$0.22.

Ebiquity plc (LON:EBQ announces that after 10 years as a director of the data-driven marketing insights firm, Nick Manning is stepping down from the board and will be leaving the company at the end of the year.

Touchstone Exploration Inc. (LON:TXP) (TSX:TXP) announced that on 18 December 2017, Paul R. Baay, the Trinidad and Tobago focused oil and gas exploration and production company’s president and chief executive officer, exercised incentive share options over 100,000 common shares in the company at a price of C$0.05 per share (approximately 2.9p per share).It added that Baay subsequently sold 100,000 common shares at a price of C$0.20 per share (approximately 11.7p per share).

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