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The Markets
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The Markets
by Proactive
Proactive UK has moved.
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Pharma & Biotech

Proactive news round-up: Tekcapital, Solo Oil, Alecto Minerals, StatPro and more...

Things are getting tasty at Tekcapital, Solo Oil gives an update on Kiliwani, while Alecto Minerals releases its finals.

Technology and intellectual property services provider Tekcapital PLC (LON:TEK) has snapped up a patent for a healthier alternative to salt.

The patent could enable the company to commercialise a replacement for table-top salt and salt in crisps, popcorn, cereals and spice mixes.

Elsewhere, Solo Oil PLC (LON:SOLO) has told investors it expects the Kiliwani North gas production operation in Tanzania will reach its expected offtake rate in the next few months.

Production from the Kiliwani North well began in April and remains in the ramp up phase. Based on data measured to date it is expected that it will be operated at around 30mln cubic feet of gas per day, which represents 4,500 barrels of oil equivalent per day.

Alecto Minerals PLC (LON:ALO) was transformed into a pre-production gold miner in 2015 and the focus now is getting cash flow from its Matala gold mine in Zambia.

In its final results released today, the firm reported a pre-tax profit in 2015 of £3.34mln, compared to a re-stated loss of £767,804 for 2014.

Shares in Oracle Coalfields PLC (LON:ORCP) were up again on Monday, having surged on Friday afternoon after the firm confirmed a new Chinese for its Thar coal and power project in Pakistan.

On Friday, it confirmed it a framework agreement where a consortium of new and existing Chinese partners will take 70% equity in its subsidiaries in Pakistan.

Stratex International plc (LON:STI) has received encouraging results from its Dalafin gold project in Senegal ahead of drill testing targets.

Fund manager software specialist StatPro Group PLC (LON:SOG) has picked up a contract with a large Australian financial institution worth A$4.5mln (£2.3mln).

Vietnam-focused Vinaland Limited (LON:VNL) is to consider winding itself it up as an option for the property investment trust.

The fund, managed by Vietnam specialist VinaCapital Investment Management Ltd (VCIM), will discuss the plans with shareholders at meetings scheduled in Europe (this week) and in Asia.

Shares in Forbidden Technologies plc (LON:FBT) nudged higher in early deals as it said it had continued its commercial momentum over the past six months.

BATM Advanced Communications Limited (LON:BVC) subsidiary Telco Systems has completed a 10 Gigabit Ethernet (GE) installation for a major telecoms group in south-east Asia.

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