Alba Mineral Resources PLC (LON:ALBA), the diversified mineral exploration and development company, announced that its Mineral Exploration Licence (MEL) 2013/06, comprising the Amitsoq Graphite Project in southern Greenland, has been renewed for a further five years commencing from 2018. Furthermore, it added, the government of Greenland has confirmed that the exploration expenditure commitment for the Project has been reduced to zero for 2018.
Stobart Group Limited (LON:STOB) will not be proceeding with a bid for regional airline, Flybe Group PLC (LON:FLYB). Stobart Group and Flybe enjoy a range of shared interests as well as a growing franchise arrangement between the two groups' airlines and it is Stobart Group's intention to continue the collaborative working relationship between both companies, Stobart’s statement said.
Aerial reconnaissance specialist Strat Aero PLC (LON:AERO) said it has made considerable and rapid progress in its cost reduction programme. At the same time, management has been enhancing the performance and prospects of its main operating business, Geocurve.
Sound Energy PLC (LON:SOU), in its financial results statement, reaffirmed its belief that its assets onshore Morocco have the potential to become a material hydrocarbon province. “We remain hugely excited about our future and look forward to success together,” said chairman Richard Liddell.
Range Resources Ltd (LON:RRL) has detailed plans for a new work programme for the Perlak field, in Indonesia, where the company is targeting first production in mid-2018. The field programme, targeting early production, is due to start in the second quarter and it said that the planned work programme is expected to add up to 200 barrels of oil production per day.
Coinsilium Group Ltd (AQSE:COIN) announced that it has exercised an option to acquire a further 3.5% of the share capital of Indorse Pte. Ltd. via its wholly owned subsidiary Seedcoin Limited, taking its total holding to 10%.
A good performance by its healthcare division kept profits moving higher in 2017 at Cello Group plc (LON:CLL) . The marketer intends to underline healthcare's growing importance, especially in the US, by a name change to Cello Health Group.
In line with its strategy to focus in on its cancer and fibrosis pipeline, Redx Pharma Plc (AIM:REDX) has found a prospective partner for its next-generation antibiotics. For the drug developer has signed an option and licence agreement with Deinove of France that effectively outsources its novel bacterial topoisomerase inhibitor (NBTI) programme.
Caledonia Mining Corporation PLC (LON:CMCL) said its largest shareholder has increased its stake in the company to just over 20% of the shares in issue. The mining and exploration company said the stakeholder – African investment company Allan Gray – now holds a total of 2,130,668 shares.
Bezant Resources plc (LON:BZT) is to switch its focus back to copper in the Philippines and Argentina after failing to get the finance to develop the Choco alluvial gold deposit in Colombia. Laurence Read, chief executive, said the decision stemmed from a strategic review of the junior’s activities following the halt to mining at Choco at the end of 2017.
Cadence Minerals Plc (LON:KDNC) says it has begun an initial exploration programme on the six ‘high-quality’ lithium assets in the San Luis province of Argentina it agreed to acquire in December. The AIM-listed mineral sector investment firm said the exploration programme, targeted to complete in 4-6 months, will aim to provide the company with an understanding of the pegmatite geology and the extent of lithium mineralisation.
Base Resources Limited (LON:ASX) (ASX:BSE) advised that the latest company presentation, which was presented today at the Australian Mineral Sands Conference in Perth, Western Australia, has been released to the Australian Securities Exchange and is available on the company’s website.
Capital Network has released a research report on Genedrive PLC (LON:GDR) in which analyst Ricardo Lowi noted the firm’s careful cash management with a £3.9mln cash balance at the end of February, and concluded that he would expect a capital raise from the company in the second half of calendar year 2018.
Capital Network has released a research report on Judges Scientific PLC (LON:JDG) in which analyst Helaine Kang slightly revised up earnings estimates following strong full-year 2017 results, noting that the company’s priority in delivering returns to shareholders remains unchanged.