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Proactive news snapshot: Oracle Power, Midatech Pharma, Block Energy …

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Shares in Oracle Power PLC (LON:ORCP) surged on Thursday after Chinese energy giant Beijing Jingneng Power Company (BJPC) took a majority stake in its key project. Along with its other joint venture partner, PowerChina, Oracle is developing a 700Mw coal-fired electricity plant in Pakistan’s Thar province.

A “leading global pharmaceutical corporation” has signed a deal with Midatech Pharma Plc (LON:MTPH) that will see it evaluate the latter’s Q-Sphera drug delivery platform.

Block Energy Plc (LON:BLOE), the oil & gas explorer company focused on the Republic of Georgia, is confident it has the right assets. In a statement released ahead of the company’s annual general meeting (AGM) today, Paul Haywood said the company’s assets comprise a set of producing or previously producing licences in business-friendly Georgia, while it has a “first class team both here in London and on-site”.

Europa Metals Ltd (LON:EUZ) said phase two drilling at its Toral lead, zinc and silver project in Spain has shown “promising results”.

Eden Research PLC (LON:EDEN) has said its commercial partner, Sipcam Oxon SpA will be appointed exclusive distributor of its grape fungicide product, known as Mevalone, in the USA, Brazil, Mexico, China, Argentina, Chile, Japan, and South Africa.

Real Good Food PLC (LON:RGD) has sold R&W Scott Limited to the jam and preserves maker’s management team for £3.95mln.

Up-for-sale healthcare companies backer NetScientific PLC (LON:NSCI) has yet to receive any firm offers for any of the companies in its portfolio.

Greencoat UK Wind PLC (LON:UKW) has further expanded its portfolio with the acquisition of the unbuilt Douglas West wind farm near Lanark in Scotland. Construction is scheduled to start next year with a planned capacity of 45Mw when finished.

88 Energy Limited (LON:88E) now expects to finalise a farm-out agreement for its Icewine project in Alaska in the first quarter of next year after agreeing to a request to extend the deadline for bids.

Metal Tiger PLC (LON:MTR) has reported positive results from the first phase of drilling and preliminary conceptual mining study at the A4 Dome in Botswana.

W Resources PLC (LON:WRES) has fed the first mined ore into the new crusher at its flagship tungsten and tin La Parrilla mine in Spain ahead of schedule. Commissioning of the mined ore is now underway.

Curzon Energy Plc (LON:CZN) has suspended operations at its Coos Bay coal bed methane project in Oregon while it decides on an optimum plan to take the project forward.

Arc Minerals Limited (LON:ARCM) is making good  progress with metallurgical testwork on oxide ore from the Kalaba copper and cobalt prospect in Zambia. Commissioning of a commercial scale demonstration plant starts this month with batch processing to commence early in the New Year.

Primary Health Properties PLC (LON:PHP) has raised €51mln from the private placement of an issue of new senior secured notes to help fund the company's strong future pipeline of acquisition opportunities both in the UK and Ireland.

Chaarat Gold Holdings Ltd (LON:CGH) said a group of investors has agreed to buy further ordinary shares in the company. A concert party, including Labro Investments Limited, non-executive director Martin-Wiwen Nilsson and Willem De Geer of investment vehicle Deer Invest AB, will collectively hold a 37.9% stake in Chaarat.

Galileo Resources PLC (LON:GLR) on Thursday updated investors about the recent progress at its Star Zinc project in Zambia in its first-half results. The miner completed the first phase of drilling for its 80.75%-owned Star Zinc during the first half ended September 30.

Eight Peaks Group PLC (LON:8PG) has raised £610,000 via a placing with the proceeds to be used primarily to make further investments and for general working capital purposes. The AIM-listed group – formerly known as Legendary Investments - said the placing of 6,100,000 new ordinary shares was undertaken with new and existing shareholders at a price of 10p each.

Cradle Arc PLC (LON:CRA) said the Botswana High Court has placed its subsidiary Leboam Holdings under judicial management following a loan dispute. Cradle Arc owns a 60% stake in Leboam, the holding company of the Mowana copper mine in Botswana.

Vast Resources PLC (LON:VAST) has entered into a US$3.0mln bridge facility with the Bergen Global Opportunity Fund to finance further working capital including for the Baita Plai Polymetallic Mine and other leading projects.

i3 Energy PLC (LON:I3E) has said it continues to progress the necessary documentation with the UK's Oil & Gas Authority to achieve Field Development Plan approval in early 2019 for the company's 100%-owned and operated Liberator development in the North Sea.

HemoGenyx Pharmaceuticals PLC (LON:HEMO), the biopharmaceutical group developing new therapies and treatments designed to transform bone marrow transplantation for the treatment of blood diseases, announces that its former chairman Robin Campbell will step-down as a non-executive director and from the board, with effect from 5 January 2019.

Sunrise Resources Plc (LON:SRES), announced that its executive chairman Patrick Cheetham, purchased 5,000,000 ordinary shares on market on 19 December 2018, at a price of 0.099p each, purchased through his Self-Invested Personal Pension (SIPP). Following the transaction, the group said, Cheetham is now beneficially interested in 90,390,369 Ordinary Shares (including 5,500,000 Ordinary Shares held by his wife, Karen Cheetham) representing 3.7% of the company's issued share capital.

Range Resources Limited (LON:RRL) said it has signed an agreement with LandOcean Energy Services Co. Ltd. to pay the annual interest payment due under the convertible note of US$1.6mln by way of issuance new ordinary shares. The group said the interest payment is due for the 12-month period to the end of November 2018 as per terms of the existing US$20mln convertible note entered into on 30 October 2016. It added that the agreement to pay the interest in shares will allow the company to preserve its existing cash position.


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