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Proactive news snapshot: Kodal Minerals, LoopUp Group, Iofina …

Published: 15:30 12 Feb 2019 GMT

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Kodal Minerals PLC (LON:KOD) has received the final assay results from drilling completed at the Bougouni lithium project in Southern Mali. Highlights from the Sogola-Baoule prospect on Bougouni include 31 metres at 1.33% lithium oxide (Li2O), 27 metres at 1.06% Li2O, and 30 metres at 1.06% Li2O.

Remote meetings technology specialist LoopUp Group PLC (LON:LOOP) said profitability in 2018 was “comfortably ahead” of consensus expectations.

Iofina plc (LON:IOF) has gained a bit of wiggle room on the financing side by extending the expiration dates of its convertible loan notes and bank facility.

Echo Energy Plc (LON:ECHO) told investors it has completed the stimulation programme for the EMS-1001 well at the Fracción C licence, onshore Argentina. Initial results indicate that the EMS-1001 location is not commercial, and, no further testing is planned.

Redx Pharma Plc’s (LON:REDX) chief executive Lisa Anson said she was “encouraged” by pre-clinical data from a fibrosis drug set to enter human trials next year. Three independent studies assessed the potential efficacy of the company’s lead ROCK2 compound in animal models of lung, kidney and liver fibrosis.

Ariana Resources PLC (LON:AAU) is set to receive £3.79mln from its Turkish subsidiary Galata, following the repayment of loans made to the jointly owned operator of its Turkish gold mine, Zenit.

Mosman Oil And Gas Limited (LON:MSMN) is hopeful that GEM International Resources will soon take a big step forward as it works to complete a long-awaited acquisition which would leave it “relisted and revitalised”. AIM-quoted Mosman has a stake in GEM, which has been in advanced talks over a potential acquisition for several months now, but a formal letter of intent (LOI) is yet to be signed.

Vast Resources PLC (LON:VAST) has updated on financing discussions following an announcement in January that it would not receive Tranch B offtake financing from a prepayment agreement with Mercuria Energy Trading.

The mining firm said it remained in discussions with potential investors in two areas; replacement offtake finance to bring the Baita Plai project into production, and discussions with a potential “cornerstone” investor to cover the expenditure required to bring a proposed Zimbabwe diamond project into production as well as providing a possible alternative to new off-take finance.

Bezant Resources PLC (LON:BZT) has revealed the results of an independent study assessing alternative options for the development of the Mankayan copper-gold project on Luzon in the Philippines.

Tlou Energy Ltd (LON:TLOU) told investors it has completed its first development pod for the Lesedi coal bed methane project, advancing the project closer to production. The company, in a stock market statement, said that the Lesedi 3A and Lesedi 3B lateral wells both intersected with the vertical well Lesedi 3P, to complete the development pod.

Frontier IP Group Plc (LON:FIPP) has unveiled its third Portuguese spin out, Insignals Neurotech.

Cabot Energy PLC (LON:CAB) has conditionally raised £2.08mln with a share sale to existing major shareholders, High Power Petroleum and City Financial Investment Company. It intends to raise a further £770,000 through an additional share sale to other qualifying shareholders. Big Pic in August.

Red Rock Resources PLC (LON:RRR) is set to receive a substantial dividend payment from Jupiter Mines LTD (ASX:JMS), in which it holds just over 18.5mln shares.

Connemara Mining Company PLC (LON:CON) is proposing to change the name of the company to ‘Arkle Resources PLC’.  The firm says its board believes that the change of name, while reflecting the company's heritage as an Irish-based exploration company established to focus on zinc assets, will better reflect its diversified position in both gold and zinc exploration and resource development.

Remote Monitored Systems PLC (LON:EMS) said it has been notified that, on 12 February 2019, Stephen Paul Jones’s shareholding in the company had increased to 13.44%, up from 10.35% previously. The group also said it was notified that Braveheart Investment Group PLC, on 11 February 2019, had reduced its shareholding in the firm to 1.32%, down from 5.90%.

Greencoat UK Wind PLC (LON:UKW), the leading listed renewable infrastructure fund, invested in operating UK wind farms, said it intends to accelerate the closure of the placing it announced on 1 February 2019 following material investor demand. The group said the book-building process will close no later than 4:30pm London time on 12 February 2019.

Eight Peaks Group PLC (LON:8PG) has appointed Alexander David Securities as the company's broker with immediate effect.

Afarak Group PLC (LON:AFRK) announced that it has completed three transfers totalling 500,000 ordinary shares from treasury to its CEO, Guy Konsbruck, The group said the shares form a part of the CEOs service contract.

Personal Group PLC (LON:PHG), a leading provider of employee services in the UK, said its first dividend for 2019 of 5.825p per share will be paid on 29 March 2019 to members on the register on 22 February 2019. It added that the dividend, the first of four expected to be announced this year, represents a 1.3% increase over the equivalent period last year.

BlueRock Diamonds PLC (LON:BRD), the AIM-listed diamond producer, which owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa, said that a new corporate presentation can be viewed on the company's website.

ECR Minerals PLC (LON:ECR), the precious metals exploration and development company, announced that Hallgarten & Company have produced an Initiation of Coverage report on the group which is available on the company’s website.

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