Proactive news snapshot: Cradle Arc, Echo Energy, Satellite Solutions Worldwide …

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

Your daily round-up from the world of Proactive

Cradle Arc PLC (LON:CRA) should be able to use Dense Media Separation (DMS) to boost production substantially at the Mowana copper mine in Botswana. An independent test report from SGS South Africa confirmed its suitability and Cradle Arc now intends to go ahead and install a plant.

Echo Energy Plc (LON:ECHO) told investors it is now “ready to initiate” a busy new work programme in Argentina. The company completed its Argentina acquisition earlier this month, and it has already issued tenders for the planned seismic programme.

Satellite Solutions Worldwide Group PLC (LON:SAT), the provider of alternative super-fast broadband services, expects to post a “material increase” in earnings this year.

AIM-listed security group Westminster Group PLC (LON:WSG) saw revenues rise by 23% in 2017. The group has also raised £750,000 to fund the potentially transformational Middle East managed services contract first announced last September, while Sir Tony Baldry is to become executive chairman from non-executive previously.

Christmas was not a happy period for Real Good Food PLC (LON:RGD), the bakery products group. Sales during the early part of the Christmas trading quarter were “largely satisfactory”, the group revealed, but then the last few weeks of the year saw sales fall materially below expectations, largely owing to disappointing performance in the UK grocery market and de-stocking in overseas markets.

ANGLE PLC (LON:AGL) (OTCQX:ANPCY) has made excellent progress over the last six months, according to chairman Garth Selvey. The highlights included successful US and European ovarian cancer studies that underlined the potential of the company’s Parsortix liquid biopsy system.

Lionsgold Ltd (LON:LION) shares advanced more than 30% on Wednesday as the company updated on its digital currency business, which will now be able to issue own-branded Mastercard debit cards. Earlier this month the AIM-quoted company agreed to invest £1.2mln into Railsbank Technology, giving it a 12.5% stake, with the arrangement tied to the development of the ‘Goldbloc’ digital currency.

Big data analysis software provider Rosslyn Data Technologies PLC (LON:RDT) expects to achieve cash-flow break-even in 2018.

Customised electronics supplier discoverIE Group PLC (LON:DSCV) said it continued to trade strongly in its fiscal third quarter and remains on track to hit full-year targets.

Empresaria Group plc has announced the appointment of Tim Anderson as the international staffing specialist’s group finance director with effect from 21 March 2018. The AIM listed group said Anderson will take over from Spencer Wreford, who - as previously announced on 12 September 2017 - will focus on his role as Empresaria’s chief operating officer.

88 Energy PLC (LON:88E) told investors that it ended 2017 with A$14mln of cash reserves as it provided a mandatory quarterly activities update. As the Alaska-focussed explorer’s primary work programme has been in hibernation over the winter months, there was little new information to glean from the statement.

Lekoil Ltd (LON:LEK) told investors that an independent technical study of the OPL 325 asset, offshore Nigeria, has revealed the potential for some 5.7bn barrels of oil in place. The study, by specialist Lumina Geophysical, identified a total of eleven prospects and leads in the area which straddles the western Niger delta.

Allergy Therapeutics plc (LON:AGY) has told investors it expects to report a rise in revenues in line with expectations for the first half of its financial year as it continues to win market share in its key territories.

Chaarat Gold Holdings Ltd (LON:CGH) has significantly increased the resource estimate at the Tulkubash deposit, part of the Charaat Gold Project in the Kyrgyz Republic in Central Asia. The last estimate suggested there were just over 800,000 ounces of gold at Tulkubash, but today’s update puts that figure closer to 1mln oz. Big Pic in November.

Range Resources Ltd (LON:RRL) confirmed a production increase of 9% in the fourth quarter as it released its periodic activities report. The company reported total production of 58,034 barrels of oil in the quarter ended December 31, up from 53,304 barrels in the preceding three month period. Daily production measured 631 barrels of oil per day in the quarter, up from 579 bopd in the third quarter. Big Pic pending.

Metal Tiger PLC (LON:MTR) said the completed Pre-Feasibility Study (PFS) for its joint venture project with partner MOD Resources Limited (ASX:MOD) in the Kalahari Copper Belt in Botswana for the T3 Open-Pit looks “very robust”. In a separate announcement, Metal Tiger also announced that it has sold its remaining shares in Kingsgate Consolidated Limited bringing its holding down from 11,504,685 shares in KCN to zero.

Dual-listed Tharisa PLC (LON:THS) reiterated its 2018 production guidance at a presentation made yesterday and today to media and analysts. The company said in a stock market statement that its near-term focus will be on continued operational improvements and the commencement of its Vision 2020 projects.

Medusa Mining Limited’s (ASX:MML) production edged up in its second quarter after grades and throughput improved slightly. The Philippines–based gold miner produced 25,056 oz (24,986oz) of gold in the three months to December, at an average head grade of 6.67 g/t gold, from 124,914 tonnes of ore processed.

Asiamet Resources Limited (LON:ARS) said it expects to deliver a maiden resource estimate for its BKZ polymetallic prospect in May as it updated on progress with the drill bit. The asset, located in Central Kalimantan, Indonesia, has continued to yield near-surface base and precious metal-rich mineralisation, the company said.

Ferrum Crescent Ltd (LON:FCR) said yesterday’s maiden resource at Toral in Spain had underlined its ‘undoubted potential’ as a viable European lead, zinc and silver project. The resource currently is 16mln tonnes of ore grading 6.9% zinc equivalent, including lead credits, and 25 grams per tonne silver.

Atlantis Resources Limited (LON:ARL), a global leader in the renewable energy sector, announced the formal launch through Abundance Investment Limited of a proposed five-year bond which matures in 2023. The bond has a coupon of 8%, payable semi-annually. The bond offer seeks to raise a minimum of £2mln and a maximum of £5mln, and is expected to close in the first quarter of 2018.

Cadence Minerals Plc (LON:KDNC) (OTC: KDNCY) announced that Macarthur Minerals Ltd (TSX-V: MMS) has completed its acquisition of 100% of granted exploration license E45/4685 covering an area of 35 square kilometres in the Pilbara region of Western Australia. Cadence has a 15.2% equity interest in Macarthur.

Sound Energy PLC (LON:SOU), the North African and European gas company, announced the appointment of Macquarie Capital (Europe) Limited as joint broker to the company with immediate effect. Macquarie Capital will act alongside RBC Capital Markets as joint broker, and Smith & Williamson Corporate Finance, the company's nominated adviser.

Porta Communications PLC (LON:PTCM) said it has been notified that John Foley, the AIM listed international marketing and communications group’s non-executive chairman, today purchased 4,700,000 ordinary shares in the company at a price of 3.5p per each. Following the purchase, the group added, Foley is beneficially interested in 5,665,079 Porta ordinary shares, representing 1.24% of the company's issued share capital.

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