Sound Energy PLC (LON:SOU) said drilling at its Badile onshore well near Milan, Italy, has uncovered “significant gas shows”. Drilling and logging must to be completed to establish the full picture.
Shares in Gemfields PLC (LON:GEM) boomed this morning as the ruby and emerald miner looks set to be thrust into the middle of a bidding war. Chinese conglomerate Fosun Gold has approached miner with a more lucrative cash offer than had already been put on the table by its largest shareholder, Pallinghurst Resources.
Sunrise Resources Plc (LON:SRES) shined on Wednesday as the explorer revealed that drilling at its CS pozzolan-perlite project in Nevada is due to get underway in a matter of weeks. Permits for the proposed drilling and trench programmes have come through and Sunrise is now in the final stages of appointing a drilling contractor, with a view to start the drill programme in mid-July.
Advanced Oncotherapy PLC's (LON:AVO) revival continued, with shares in the proton beam therapy pioneer adding 15% to 20.95p as it appointed another medical heavyweight to its team. Dr Jonathan Farr has joined as senior vice president of medical physics with immediate effect. He will not be taking a seat on the company’s board however.
Empyrean Energy (LON:EME) rocketed almost 40% to 5.39p as Gaz Bisht was appointed to the board of the oil and gas junior. A petroleum geologist and geoscientist, Bisht has worked closely with the China National Offshore Oil Corporation (CNOOC) over the last 10 years in roles with other companies.
W Resources PLC (LON:WRES) has published a maiden statement of ore reserves at the La Parrilla tungsten/tin mine in Spain. Based on the reserves of 29.7mln tonnes (mt) at 931 parts per million (ppm) tungsten trioxide (WO3) and 116 ppm tin (Sn), La Parrilla will have an eleven year mine life initially producing 2mln tpa (million tonnes per year) and rising to 3.5mtpa in 2020.
Internet of Things enabler Telit Communications Plc (LON:TCM) has launched its simWISE cellular module embedded SIM technology today. The technology, which is the first of its kind, was developed alongside Telit’s Sweden-listed partner, Tele2.
IronRidge Resources Limited (LON:IRR) has identified what it describes as multiple, significant outcropping lithium pegmatites at the Egyasimanku Hill site in Ghana. Vincent Mascolo, chief executive said: "We are very excited to have located the historical Egyasimanku Hill resource which further vindicates our rigorous and exhaustive research criteria.”
Porta Communications PLC (LON:PTCM) has taken its interest in Redleaf Polhill, the City financial PR firm, to 81%. It has paid £850,037 paid in cash and shares for an additional 15% of the business after a put option was exercised, paving the way to the sale.
Futura Medical PLC (LON:FUM) continues to receive “significant commercial interest” in MED2002, its gel for erectile dysfunction, chairman John Clarke told the company’s annual meeting later Wednesday.
Metminco Limited (LON:MNC ASX:MNC) has sold its 49% stake in the Los Calatos copper project in Peru for US$5mln as it focuses on its gold assets in Colombia. Redfield Asset Management Pty Limited has also increased its holding in the company to 9.83% following share purchases over the past three months.
Mariana Resources Ltd (LON:MARL) has intersected high grade gold-copper mineralisation as part of its ongoing drilling programme at the Hot Maden project in Turkey. In an update on the project, the company said assay results from drilling included 31 metres at 7.5 grammes of gold per tonne of ore from its HTD-118 hole.