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Proactive news snapshot: Sirius Minerals, Motif Bio, ECR Minerals, TLOU Energy …

A glance at some of the day's highlights from the Proactive Investors newswire
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Sirius Minerals PLC (LON:SXX) has priced its large equity raise at the bottom end of the anticipated range, selling new shares to institutional investors at 15p – a 32% discount to pre-funding levels. Yesterday, the company launched a US$400mln share placing as part of a US$3.8bn project funding plan, and, it said the equity sale would price between 15p and 18p.

Motif Bio PLC (LON:MTFB) has partnered up with Scottish biotech Lamellar Biomedical to develop a treatment for lung infections in patients with cystic fibrosis.

ECR Minerals PLC (LON:ECR) has classified its Blue Moon prospect in Victoria, Australia as a gold discovery after the final assays from latest drilling indicated more good grades. Craig Brown, chief executive, said the drilling results show that gold mineralisation intensifies further west and have given ECR a clear action plan to follow the system.

TLOU Energy Ltd (LON:TLOU) revealed that the Botswana's Department of Environmental Affairs has approved the company’s environmental impact statement (EIS) for its planned coal bed methane project.

Bushveld Minerals Limited (LON: BMN) has doubled its vanadium processing capacity in South Africa with the acquisition of Vanchem for US$68mln. Fortune Mojapelo, chief executive, said the deal cements Bushveld’s position as a leading global vanadium producer.

HemoGenyx Pharmaceuticals PLC (LON:HEMO) said it has been advised that on 30 April 2019 Andrew Wright, the company's financial controller and company secretary purchased ordinary shares in the company at a price of 2.38p each. Following this transaction, the group added, Wright now has a total beneficial interest in 840,336 ordinary shares, representing approximately 0.23% of the company's issued share capital. In afternoon trading on Wednesday, Hemogenyx shares were nearly 15% higher at 2.70p.

Sound Energy PLC (LON:SOU) told investors that talks are continuing over the gas sales agreement for the Tendrara project, and, an offer has now been received from the Moroccan government. The non-binding offer envisages Tendrara’s gas being purchased by the Office National de l'Electricité et de l'Eau Potable (ONEE), Morocco’s state power firm.

MTI Wireless Edge Ltd (LON:MWE) announced that its wireless irrigation control solutions subsidiary, Mottech Water Solutions Ltd has signed an agreement valued at more than US$3mln for the provision of solutions in the Chinese market, the largest individual order ever received by the group.

Kromek Group PLC (LON:KMK) has received increased orders for an ongoing contract that has added US$2.7mln to its value.

Respiratory specialist Circassia Pharmaceuticals PLC (LON:CIR) said it made a strong start to 2019 with revenues up 38% year on year. Annual results, meanwhile, charted a period of consolidation and operational progress.

Westminster Group PLC (LON:WSG) has expanded its geographic coverage with the acquisition of French aviation security and support services company, Euro Ops International SRL for an expected maximum cost of £30,000.

Locations Sciences Group PLC (LON:LSAI) is now working with the UK’s largest independent media agency to verify the accuracy and quality of its location-based advertising campaigns. the7stars, which runs campaigns for huge global brands such as Pap Johns and Nintendo, has already enjoyed “excellent results” from using Verify – Location Sciences’ location verification product. Big Pic in April.

Iofina PLC (LON:IOF) shares bounced higher on Wednesday after it delivered a “record year” on the back of increased iodine production at its IOsorb plants in Oklahoma. The iodine and chemicals manufacturer reported record earnings (EBITDA) for the year ended 31 December 2018 of US$2.6mln, 89% higher than the prior year, while revenues climbed 15% to US$24mln.

Bould Opportunities PLC (LON:BOU) has launched a discounted share placing to raise £660,000 to help it evaluate potential opportunities for a reverse takeover.

OptiBiotix Health PLC (LON:OPTI) said it is launching its weight management product SlimBiome Medical on May 7. Its commercial debut will be made at a conference called Vitafoods Europe 2019, being held in Geneva.

Malawi-focused Mkango Resources Ltd (LON:MKA) closed 2018 with cash of US$2.4mln, a figure boosted by its collaboration with Noble Group division Talaxis. Since then, the junior has received a further US$9mln from Talaxis following completion of a technical report on the Songwe Hill rare earth project. Big Pic in October.

Richland Resources Ltd (LON:RLD) shares were lifted on Wednesday after it extended its £400,000 and US$150,000 secured convertible loan facility to 31 May 2019.

Pembridge Resources PLC (LON:PERE) said it expects it will soon update investors on its talks to renegotiate the February 2018 agreement to buy the Minto project from the Capstone Mining Corporation. The project was put on ‘care-and-maintenance’ back in October and shortly thereafter the company began discussions with Capstone.

Bezant Resources PLC (LON:BZT) remains confident of finding a partner for its Mankayan copper project in the Philippines even though the process is taking longer than anticipated. Substantial effort has been put into improving Bezant’s understanding of the Mankayan project and marketing its potential in a very systematic manner, said Colin Bird, executive chairman.

Base Resources Limited (LON:BSE) is to press ahead with a feasibility study for the North Dune deposit to see if it stacks up as an extension to the Kwale mineral sands mine. North Dune contains an estimated 171 million tonnes of heavy minerals (HM) at an average grade of 1.5% or 2.6Mt using a 1% cut-off grade. Big Pic in March.

KRM22 PLC’s (LON:KRM) chief executive and chairman Keith Todd has subscribed for 235,295 new shares in the company at a price of 85p each, totalling £200,000.

MaxCyte Inc (LON:MXCT) has been showing off its CARMA cell therapy platform at an industry conference in Washington DC.

Rockfire Resources PLC (LON:ROCK), the gold and base metal-focused resource company, has announced the appointment of Nicholas Walley as a non-executive director with immediate effect. It noted that Walley has a business background spanning multiple industries including agriculture, property, construction, plant hire, food and beverage packaging, leisure and charitable work, and importantly has critical skills in logistics, infrastructure, organisational management and sales.


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