logo-loader

Proactive news snapshot: Sirius Minerals, Galantas Gold, ITM Power …

A glance at some of the day's highlights from the Proactive Investors newswire

Newspapers
Your daily round-up from the world of Proactive

Sirius Minerals PLC (LON:SXX) told investors that mine development activity levels continue to increase every month. The North Yorkshire mine remains on time and on budget, the company said in a quarterly update.

Galantas Gold Corporation (LON:GAL) (TSXV:GAL) saw its shares jump today after it announced a positive outcome to a Judicial Review into the planning consent for underground development at its wholly owned Omagh Gold Mine in Northern Ireland. The AIM-listed firm said a third party's request for a quashing of the planning consent decision was denied following the Judicial Review in Belfast High Court.

ITM Power plc (LON:ITM) is looking to raise a total of around £29.4mln via a firm placing and open offer to provide working capital to support delivery of its contract backlog and opportunity pipeline.

Strategic Minerals Plc (LON:SML) is looking to increase its core projects further and increase its market cap to £100mln in the near future, it said, reporting a successful first half. Cash flow from the Cobre tailings operation is expected to accelerate in the second half after substantial contract was won in June.

Obtala Ltd (LON:OBT) expects to have arranged and be utilising a US$25mln trade finance facility by the fourth quarter.  The money will send revenues soaring at its forestry business, Woodbois, said the Africa-focused business.

Oracle Power PLC (LON: ORCP) is looking for other opportunities in the power sector now that it has agreed the outline terms for development of its Thar thermal power station in Pakistan. “As signalled by its change of name [from Oracle Coal] , the company is looking at diversification opportunities in the power sector,” said Anthony Scutt, chairman.

Indian renewable power group Mytrah Energy PLC (LON:MYT) trebled revenues in its latest half year as more wind farms came on stream and its first solar plant was switched on. Mytrah’s generation capacity rose to 1075 Mw over the six months to June and has since risen to 1180 Mw. The sites are spread over 30 locations and eight states. By this time next year, capacity will have risen to 1,743Mw with 563Mw of new capacity currently under construction.

OPG Power Ventures PLC (LON:OPG) posted record annual revenues but rising coal prices hit profits and have also affected the current year. The India-based electricity generator runs two thermal power stations and had already flagged that a spike in coal prices since the Spring was causing problems.

Advanced Oncotherapy PLC (LON:AVO) remains on track to build a next-generation proton therapy system capable of treating superficial tumours by the end of the third-quarter next year, according to chief executive Nicolas Serandour. "As our technological progress advances we find ourselves in a much stronger position as we assess financing options and we have been encouraged by positive feedback,” he told investors as the company unveiled its interim results.

Interims from WideCells Group PLC (LON:WDC) reveal the company has made tremendous progress - with two of its three divisions now revenue generating. The third, The WideCells Academy, its education and training arm, will commence operations early next year.

Motif Bio Plc (LON:MTFB, NASDAQ: MTFB) chief executive Graham Lumsden said the company had delivered on time or in some cases ahead of schedule on key milestones that will allow it to submit a new drug application by the end of the first-quarter next year.

Audio-visual interaction specialist Mirada Plc (LON:MIRA) has told investors its pipeline is currently the strongest it has ever been after reporting a return to revenue growth last year.

Life sciences investor Amphion Innovations Plc (LON:AMP) saw its net asset value (NAV) per share jump by a third in the first half, reflecting the recovery in the Motif Bio Plc (LON:MTFB) share price.

Porta Communications PLC (LON:PTCM) has told investors it is well placed for the next stage of its development after a solid first half of the year. The company – which is behind City PR firms such as Newgate and Redleaf – saw revenues grow 9% to £19.44mln (H1 2016: £17.80mln) in the six months to 30 June.

Troubled cake and bakery products group Real Good Food PLC (LON:RGD ) remains confident it can trade out of the problems that have hit it hard in recent months. Bank covenants with Lloyds Banking Group Plc have been renegotiated said Chris Thomas, Real Good’s executive director, while each of the businesses is ‘fundamentally sound’.

Bezant Resources plc (LON:BZT) is working on accessing the deeper levels of its Choco platinum and gold project in Colombia where it expects to find “higher grades”. The miner pumped in more than £1mln into the project during the first half to get the project up and running, with first production and sales achieved over the past month or so.

Savannah Resources (LON:SAV) has had a busy first half with more set to come as it moves into production. Copper mining at Oman via an underground mine at Mahab 4 and open-cut development at Maqail South is earmarked to begin in the first half of 2018.

Active Energy Group PLC (LON:AEG), now focused on forestry management and biomass fuel products, is confident on its growth opportunities. Political events in Turkey disrupted sales in the six months to end June and only two partial loads of woodchip were shipped, compounded by the fact the firm is scaling down all its woodchip activity in Ukraine. But a milestone moment was reached last month when a deal  was struck with California-based renewable energy group Lumino Capital to build eight plants across Asia, targeted to start in the first half next year.

Cadence Minerals Plc (LON:KDNC) said each of its investments made good progress in the first half. Earlier this month, it sold almost half of its stake in AIM-quoted lithium explorer Bacanora Minerals Ltd (LON:BCN) for £6.23mln, and it says it plans to invest some of that profit to identify  further new early stage exploration assets.

Amur Minerals Corp (LON:AMC) has told investors it expects to be very busy throughout the remainder of 2017. The company, in its half yearly results, said it is aiming to complete and extend the drilling programme at the Kun Manie project and that work is expected to have a material impact on the economic potential of the mine.

Mosman Oil And Gas Limited (LON:MSMN) has raised £600,000 in a share placing to support the company as it advances its production growth and acquisition strategy. The placing is being arranged by SP Angel and it sees Mosman issuing 50 mln new shares at 1.2p per share.

US Oil & Gas PLC (LON:USOP) has told investors it has brought in US$748,988 of new capital as a result of an equity placing. The Nevada focused oil junior is issuing some 1.9mln shares priced at 30p per share.

Vast Resources PLC (LON:VAST) said preliminary results from the drilling programme for Carlibaba, the proposed location of a second open pit mining operation at the Manaila Polymetallic Mine in Romania, “are in line with management expectations.”

Gold miner Ariana Resources plc (LON:AAU) will recognise results from its new Kiziltepe mine in Turkey from this quarter following the declaration of commercial production in July. Ariana posted a loss of £663,000 in the half year to June, which included £153,000 for its 50% share of the costs incurred by the joint venture that built and will run Kiziltepe.

Berkeley Energia Ltd (LON:BKY) confirmed its strong financial position as it released its annual report on Friday. The European mine developer revealed it had cash reserves of US$34.81mln and no debt at the end of June.

Xtract Resources PLC’s (AIM:XTR) executive chairman, Colin Bird has revealed that the gold exploration and development company is “looking at a number of opportunities to enhance shareholder value outside Mozambique but within southern Africa”. In a statement accompanying the AIM-listed firm’s results for the six months ended 30 June, Bird added that “the generation of surplus cash to overhead will allow us to pursue additional growth opportunities."

Ironridge Resources Ltd (LON:IRR) expects to move forward at all of its portfolio of projects over the next 12 months following its recent US$10.7mln fund raise. The company now holds several potential world class projects in Africa, including gold projects in Chad and the Ivory Coast, and lithium projects in Ghana and the Ivory Coast said executive chairman Nicholas Mather in addition to its Australian bauxite and gold prospects.

China Nonferrous Gold Limited (LON:CNG) told investors that it has signed a short-term financing for US$6.5mln to support the group’s operations at the Pakrut gold project, in Tajikistan.The company is dealing with substantial operational issues that followed avalanches and landslides earlier in the year.

Analysts at N+1 Singer have upgraded their recommendation and hiked their price target for ticket and queue management firm Accesso Technology Group PLC (LON:ACSO) following last week’s “solid” set of interims.

Nanobiotix (EPA:NANO) is to expand clinical trials of its nano-xray cancer treatment NBTXR3 to target recurrent and metastatic disease in combination with checkpoint inhibitors. The US-based study will target refractory or non-responsive patients with recurrent head and neck and metastatic lung cancers.

Ferrum Crescent Ltd (LON:FCR) told investors that it is reviewing all data from the Toral lead-zinc exploration project. In the group’s annual report, for the period ended June 30, said it is “looking to develop a next stage of exploration at Toral to unlock value from the significant drilling information held at the project.”

Golden Saint Resources Ltd (LON:GSR), in its interim results statement,  highlighted the company’s progress with its assets in Sierra Leone. In the results’ outlook statement, the company said: “moving towards proving up inferred resources on the three license areas in Sierra Leone, the company is planning on expanding bulk sampling rates in the alluvial diamond and gold areas in parallel to other exploration activities.”

Africa-focused West African Minerals Corporation (LON:WAFM) is unlucky enough to be currently working in the iron ore space where prices have slumped but the group has prudently scaled back costs and is now waiting for an upturn in the market. Iron ore prices have fallen to around US$60-70 per tonne, way below their 2013 highs of over US$140.

Scottish gold miner Scotgold Resources PLC (LON:SGZ) has said it is “hopeful” of securing the required funding for its Cononish mine. The firm said it is working with its advisors on sourcing the financing for the project from debt and private equity providers.

Thor Mining PLC (LON:THR) told investors it is confident of continued progress across the group in the coming year. In the company’s annual results statement, it highlighted that it has been developing a focus on projects with potential for near-term production at modest cost.

Tower Resources PLC (LON:TRP) acknowledged that the first six months of 2017 has been a testing period, but, highlighted that it has so far “weathered the storm”. The oil explorer, in its interim results statement, said it is hoping to make progress in the second half.

BOS GLOBAL Holdings Limited (LON: BOS) said today that it has resolved the conversion of the latest draw down from Innovation Corporation Limited of £125,000 at a fixed rate of 16p per share in accordance with the terms of its £1.875mln Convertible Note agreement with Innovation.  The software developer, focused on improving productivity and creating operational efficiencies in the workplace by collecting and reporting workforce analytics, said that, as a result, Innovation will receive 781,250 fully paid ordinary shares in BOS.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Xtract Resources PLC named herein, including the promotion by the Company of Xtract Resources PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Revenue guidance from OptiBiotix as it eyes NASDAQ listing

OptiBiotix Health (LON:OPTI) provides a commercial progress update, explaining why in their financials some items are separated. CEO Stephen O'Hara tells Proactive London what's behind his thinking adding that Optibiotix hopes to reach profitability in 2020. News here too on Sweetbiotix and...

7 hours, 20 minutes ago

11 min read