Metminco Limited (LON:MNC) has completed the purchase of Minera Seafield SAS from RMB Australia Holdings Limited. On settlement Metminco will issue RMB with 350mln ordinary shares in Metminco and reimburse RMB approximately AUS$170,000 for expenses incurred.
The acquisition, which consists of the Quinchia Gold Portfolio paves the way for Metminco to become a gold producer with strong cash flows to fund its growth strategies, said the group, including the exploration of targets with the potential to increase gold resources.
In other news, low-cost African airline (LON:FJET) is to convene a general meeting to resolve the removal of Colin Child as a director with immediate effect.
The airline received a request from easyGroup Holdings Ltd - which holds around 12.6% of the issued share capital – that said it has lost faith in Child as he failed to appoint a new CEO and relocate the airline's head office from Gatwick to Tanzania.
Elsewhere, Keywords Studios (LON:KWS) completed the acquisition of Beijing-based Mindwalk Studios for just under £4mln.
Chief executive Andrew Day said the acquisition meant: “greater penetration of this attractive market and represents our first significant move into the fast growing Chinese market”.
Over at Avation PLC (LON:AVAP) it has successfully delivered the first in a series of new Airbus A321s to Vietnam carrier Vietjet on schedule.
The aircraft came straight off the production facility in Hamburg and is equipped with CFM International CFM56-5B3/3 engines and 230 passenger seats - the highest seat density of an Airbus A321-200.
Meanwhile, Bacanora Minerals' (LON:BCN, CVE:BCN) development schedule for the Sonora lithium deposit in Mexico should dovetail neatly with the expected upturn in usage of electric vehicles says its chairman.
A pre-feasibility study in April demonstrated the case for the building of a 35,000 tonne per year of battery quality lithium carbonate facility at Sonora. Most expectations are that mass produced electric cars will run on lithium batteries.
Over at CloudTag Inc (LON:CTAG), the personal health and fitness monitoring specialist, knows of no reason for the recent sharp rise in the company’s share price.
The shares are up 129% over the last month, 82% over the last week and 3.3% this morning. CloudTag continues to actively progress its business strategy of commercialising its proprietary intellectual property and technology, and will update shareholders as and when significant developments occur.
Haydale Graphene PLC’s (LON:HAYD) collaborations with US chemical firm Huntsman and German group Graphit Kropfmühl are potentially game changing, according to house broker Cantor Fitzgerald.
Haydale is working with Huntsman on a next generation of the US firm’s Araldite resins. Improvements in conductivity, both heat and electricity of the graphene-enhanced resins have been impressive, said the broker and Huntsman apparently sees it as the basis for a new range of industrial composites.
And finally, driver monitoring specialist Seeing Machines Limited (LON:SEE) is making progress on many fronts and expects to have its innovative DMS system on the road for a global car maker in 2017.
It came as the firm issued a wide ranging trading update, in which it said it expects to report a stronger performance in the year to end June, than in the previous year.