African focused agricultural and forestry company Obtala Resources Limited (LON:OBT) is to change its name from Obtala Resources Limited to Obtala Limited.
Chairman Miles Pelham said dropping ‘Resources’ from its name would avoid any confusion regarding the group’s strategy.
In other news, PureCircle Limited (LON:PURE) said it was working to quickly release shipments of sweetener stevia, which have been detained by US border control.
The firm said the detention order was based on an inaccurate allegation that the shipments contained products that were produced using forced labour.
Armadale Capital PLC (LON:ACP) has moved into the highly prospective graphite market with the acquisition of a graphite project in south-east Tanzania.
The AIM-listed firm has agreed to acquire the Mahenge Liandu Graphite Project in an all-share deal from Aussie firm Graphite Advancement Tanzania Pty Ltd.
Savannah Resources Plc (LON:SAV) is to move into the lithium space following its application for licenses over two new projects in Finland, Somero and Erajarvi.
Work previously completed by the Finnish geological survey has shown the presence across this ground of key lithium minerals in 117 individual occurrences, according to Savannah chief David Archer.
Sierra Rutile Limited (LON:SRX) has successfully commissioned the Gangama project in Sierra Leone, and is now producing high quality rutile product.
The project was completed over a 13-month period on time and on budget and over a seven day test period the plant processed 555 tonnes of ore per hour.
Kibo Mining PLC (LON:KIBO) has signed an outline agreement with Lake Victoria Gold to merge respectively their Imweru and Imwelo gold projects in northern Tanzania.
The deal would create a jointly owned property boasting a 755,300-ounce JORC resource, with the potential to take that figure to in excess of 1mln ounces of the yellow metal in a relatively short timeframe.
Sound Energy PLC (LON:SOU) has completed drilling at its first Tendrara well in Morocco.
The upstream gas company, focused on the Mediterranean, drilled to a total depth of 2,665 metres.
KEFI Minerals plc (LON:KEFI) has cut the funding requirements for its flagship Tulu Kapi gold project in Ethiopia by a further US$13mln.
The company aims to put together a syndicated financing package for Tulu Kapi by the end of the third quarter of this year.
And finally, fastjet PLC (LON:FJET) chairman Colin Child said the company is in a position to “move forward” after a tough 12 months.
The Africa-focus low cost carrier was hit by a weakening Tanzanian economy and political uncertainty in the country, which was reflected in the financial performance.