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The Markets
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Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
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Pharma & Biotech

Proactive news highlights: Atlantic Resources, ECR Minerals, LGO Energy, Motif Bio and more

SyndicateRoom aims to democratise UK investment, Motif Bio is in the market for antibiotics and a placing strengthens Atlantis' balance sheet.

Crowdfunding group SyndicateRoom is to publish what it says will be an industry-defining report on UK investor behaviour in London on 9 May.

“The majority of eligible Brits are not yet investing in equities and, as a result, their wealth creation is suffering,” said SyndicateRoom.

Anyone interested in attending the Bridging the Equity Divide report launch can register on the website.

In other news, LGO Energy PLC (LON:LGO) is planning to open up new production zones in a well at the Goudron oil field, onshore Trinidad.

The company said it has now received approval from the Trinidad authorities for its plan to perforate a zone, spanning 208 feet, within the Upper C-Sands in the previously drilled GY-671 well.

Elsewhere, Eland Oil & Gas PLC (LON:ELA) unveiled a re-evaluation of the Ubima field, in Nigeria. There is now greater confidence that production can start later this year.

The group’s 40% owned Ubima field has been estimated by independent consultant AGR TRACS International to host some 2.42mln barrels of proved and probable (2P) oil reserves which would be worth US$25.49mln.

Over at tidal power group Atlantis Resources Limited (LON:ARL), the group strengthened its balance sheet through a £6.5mln placing.

The shares were placed at 55p per share and the proceeds will fund project development across its portfolio.

Meanwhile, Motif Bio PLC (LON:MTFB) is in the market for new antibiotics to add to its pipeline after making significant progress with iclaprim, its next-generation drug targeting hard-to-treat infections.

In an update accompanying its prelims, the company also told investors it is developing an oral formulation of iclaprim. The treatment in its current form entered phase III clinical trials last month with commercialisation expected to begin in 2018.

Over at eco-friendly plastics maker Symphony Environmental Technologies PLC (LON:SYM), revenues have started to pick up this year after a flat 2015.

Sales for the first quarter of 2016 are 8% higher than a year ago but were ‘disappointingly static’ at £6.37mlm (£6.35mln) in the year to December, said chairman Nirj Deva. Operating loss rose to £0.97mln.

Galantas Gold PLC (LON:GAL CVE:GAL) said exploration last year had confirmed the potential of its Omagh gold mine in Northern Ireland

Production at the mine remains suspended but plans for an underground operation was granted last year.though this has been challenged and a review is expected to be heard in September.

And finally, shares in ECR Minerals PLC (LON:ECR) eased as it revealed consultant Snowden had completed its competent person's report on the recently acquired Avoca and Bailieston gold projects in Australia.

The group's subsidiary Mercator Gold bought the two gold projects, which have the potential to generate near term revenue from processing historic dumps at Avoca.

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