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Proactive news snapshot: NetScientific , Metal Tiger, ANGLE …

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NetScientific PLC’s (LON:NSCI) portfolio firm, ProAxsis, has received positive early data from a clinical trial of its NEATstik lung disease test.

Metal Tiger Plc (LON:MTR) shares rose on Friday as its chief executive Michael McNeilly reported on what he described as a “transformational year” for the company. During 2018, the AIM-listed company continued to reshape its portfolio - selling its 30% stake in the T3 copper project to MOD Resources Limited (LON:MOD) (ASX:MOD) and increasing its investment in the Kalahari Copper Belt.

Separately, Metal Tiger also revealed on Friday that it had invested an additional US$1.1mln into Botswana focused Kalahari Metals Limited (KML). The equity investment sees the company ‘s stake in KML increase to 59.81% from 50%, though there will subsequently be some dilution as KML completes its acquisition of Kitlanya Limited in a paper deal.

ANGLE PLC (LON:AGL) is on track to gain US regulatory certification for its liquid biopsy system early next year after a clinical trial of 400 women with breast cancer met its primary objectives. The med-tech firm is seeking Food & Drug Administration Class II regulatory clearance for its Parsortix technology that harvests circulating tumour cells, which provide the tell-tale signs of cancer. FDA sign-off is seen as the gold standard for a medical device.

ValiRx Plc (LON:VAL) shares soared higher after the AIM-listed firm said the deadline for discussions over a new convertible bond facility has been extended to 1 July from 21 June. Earlier this week, the group said it was in advanced discussions with European High Growth Opportunities SF to terminate the entire subscription agreement that was announced on 26 April 2019, following a delay to the issue of the Tranche 2 shares, and enter into a convertible bond facility with the investor.

United Oil & Gas PLC (LON:UOG) has appointed David Quirke as the company’s new chief financial officer. Quirke joins the company on 24 June. He was previously with Tullow Oil, leading the oiler’s ‘treasury function’ between 2003 and 2017, and more recently was advising Assala Energy following its acquisition of Shell’s assets in Gabon.

Shares in Mkango Resources PLC (LON:MKA) have posted strong gains recently after China threatened to pull the plug on rare earth supplies due to the trade war with the US. In a first quarter update posted on Friday, Mkango reported a loss of US$697,000 for the three months to March, but closed the period with cash of US$11mln following the receipt of a further US$9mln from Talaxis, which has farmed-in to Songwe Hill.

Savannah Resources PLC (LON:SAV) has announced an increase in the mineral resource estimate at its Mina do Barroso lithium project in Portugal. The estimated mineral resources have been increased by around 15% to 27mln tonnes at 1.06% Li₂O for 285,900 tonnes of contained Li₂O.

KRM22 PLC (LON:KRM) has unveiled a partnership with Trailight Ltd to distribute and support compliance products on its Global Risk Platform.

Electronic ticketing company accesso Technology Group PLC (LON:ACSO) has appointed travel, technology and financial services veteran John Guilfoy as its chief operating officer.

KR1 PLC’s (LON:KR1) chief executive, George McDonaugh, has hailed a “major shift” in sentiment in the market for cryptocurrency and blockchain. In a statement alongside the crypto and blockchain investor’s final results for 2018, McDonaugh said that the price of Bitcoin, often seen as a key barometer of the market, had risen to levels not seen for half a year or more and that should this could be a bullish shift from a 54-week long bear market the had previously driven an 84% correction in Bitcoin’s price down from highs at the end of 2017.

Coinsilium Group Limited (LON:COIN) has surpassed £1mln in annual revenues for the first time in its history. In its results for 2018, the blockchain investment and advisory firm reported revenues of £1.68mln, 187% higher than the prior year and primarily from its advisory services arm, which assists companies planning to issue their own tokens through token generation events (TGEs).

i3 Energy PLC (LON:I3E) says there’s substantial value to be created in the UK North Sea through the development of small and mid-sized fields, in the vicinity of aging but well-maintained infrastructure. In a seperate statement, i3 also announced an amendment to the terms of the participation in its junior loan note facility by Lombard Odier Asset Management (Europe) Limited as announced on 30 May 2019. The group said the issue of warrants to Lombard to subscribe for £3mln of new ordinary shares has been amended to warrants to subscribe for £2mln of new ordinary shares.

The move from being a mining exploration company to a producer meant NQ Minerals PLC (LON:NQMI) could justifiably categorise 2018 as a transformational year. The Hellyer project in Tasmania now offers significant ongoing cash flow as the company works on its two exploration projects, Ukalunda and Square Post in North Queensland, Australia.

Kodal Minerals PLC (LON:KOD) has reported good progress with the metallurgical, engineering and environmental aspects of the Bougouni lithium project development in Mali. Social and environmental technical reports are being finalised for submission while community meetings have been positive, it said.

Oracle Power Plc (LON:ORCP) revealed on Thursday that it has entered into a loan agreement with Brandon Hill Capital Limited, a substantial shareholder in the company, to provide it with a working capital facility of up to £250,000.

Gold recovery specialist Goldplat plc (LON:GDP) is placing its Kilimapesa mine in south-west Kenya on care and maintenance until external funding for the operation can be secured. In an update, the company said a number creditors of the Kilimapesa business are showing patience, while it is still waiting for the local tax authorities to sanction a VAT repayment in excess of £1mln.

Arc Minerals Ltd. (LON:ARCM) has announced the appointment of Rémy Welschinger as a non-executive director with effect from today. The group noted that Welschinger is the founder and managing director of Limehouse Capital Limited, an investment holding company specialising in natural resources projects, and, up until 2018, he was Head of Commodities Sales in Europe for Deutsche Bank.

Yellow Cake PLC (LON:YCA) has revealed the resignation of James Keating as an independent non-executive director, with effect from 31 May 2019, and announced its intention to appoint Alexandra Nethercott-Parkes to replace him in that role. The firm noted that Nethercott-Parkes has over 15 years' experience in Private, Corporate and Funds administration, and has a wealth of experience in listed and regulated funds, large real estate companies, UK REIT's and capital markets deals.

Live Company Group Plc (LON:LVCG) has confirmed that, further to its share placing and subscription to raise gross proceeds of £2.2mln announced on 11 February 2019, while the placing proceeds of £1.26mln were received in full in February, of the £0.84mln subscription, a sum of £0.20mln is still outstanding from one subscriber.  However, the company said it anticipates that the further £0.20mln will be received shortly.

Physiomics Plc (LON:PYC), a provider of technology-based solutions to predict the effects of cancer treatment regimens for the biopharma industry, has appointed Strand Hanson as its nominated and financial adviser, with immediate effect. The firm said Hybridan will continue to act as the company's sole broker.

ReNeuron Group PLC (LON:RENE), a UK-based global leader in the development of cell-based therapeutics, said its management team will be participating in 1-on-1 meetings at the Jefferies 2019 Global Healthcare Conference on Tuesday 4 June 2019 in New York City.

Frontier IP Group PLC (LON:FIPP) said its portfolio director, David Cairns, is to step down in August. "On behalf of the goard I would like to thank David for his contribution to Frontier IP over the years and the important part he has played in the Group's growth and success," said chief executive Neil Crabb.


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