Proactive news snapshot: Strategic Minerals, Xtract Resources, Galantas Gold …

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

Your daily round-up from the world of Proactive

Strategic Minerals Plc (LON:SML) has received approval from the South Australian government following two submissions relating to a program for environment protection and rehabilitation at the Leigh Creek copper project. The approvals cover the Mountain of Light processing facility, as well as the Paltridge North and Lynda deposits.

Xtract Resources PLC (LON:XTR) has updated on its hard rock collaboration agreement with Omnia Mining Ltd at Xtract’s Manica mining concession in Mozambique. The AIM-listed miner said that to date 12 potential mining sites had been identified within 15 kilometres of Omnia’s plant, with eight of the potential mining sites already within the existing license areas.

Galantas Gold Corp (CVE:GAL, LON:GAL) has announced assays of 12.8 grams per tonne (g/t) gold from the Kearney vein at its Omagh gold mine.

Seeing Machines Limited’s (LON:SEE) Guardian driver monitoring system (DMS) has covered a total of over 1bn kilometres since its launch in 2016.

Touchstone Exploration Inc (LON:TXP, TSE:TXP) told investors that it expects no impact to its crude sales as a result of proposed changes at Petrotrin (Petroleum Company of Trinidad and Tobago Limited). In October, it is planned that Petrotrin will phase out refinery operations in Trinidad and instead will export crude into the international oil market.

Columbus Energy Resources PLC (LON:CERP) executive chairman has described the restructuring of Petrotrin as a “big step”. The planned restructuring of Petrotrin's operations will see the state oil firm stop refining activities, to instead export crude, as it also focusses more on exploration and production.

Cradle Arc Plc (LON:CRA) has cut its 2018 production guidance for its 60%-owned Mowana Copper Mine in Botswana after some operational setbacks during the third-quarter, but expects to ramp-up to full steady state production during the fourth quarter. The African focused base and precious metals exploration and production company also announced the proposed appointment of Roy Pitchford, as its non-executive chairman.

Kibo Energy PLC (LON:KIBO) shares nudged higher on Wednesday afternoon after the Africa-focused energy group signed a new collaboration agreement with US industrial tech giant General Electric. The two will work together to develop Kibo’s portfolio of energy projects in Tanzania, Botswana and Mozambique, as well as to enhance its strategy of delivering power solutions that alleviate Africa's energy shortage.

AIM-listed miner Vast Resources PLC (LON:VAST) has raised £863,750 through a subscription. Investors subscribed for 133.9mln shares at 0.645p each – a small discount to Tuesday’s closing price.

Union Jack Oil PLC (LON:UJO) expects to complete site works in September for the planned Biscathorpe-2 conventional well where drilling will follow in October or November. The company told investors that tenders for all materials, services and a drilling rig are being updated to the anticipated timeline.

Eco Atlantic Oil & Gas Ltd (LON:ECO, CVE:EOG) is looking forward to a number of potential catalysts across its exploration portfolio, most notably at its Orinduik Block offshore Guyana. September promises to be an important month for Orinduik, which is in the neighbourhood of Exxon’s large Liza oil discovery and its series of follow-up finds

Aminex plc (LON:AEX) has announced it has kicked off remediation work for the Kiliwani North well. The work, to tackle rising pressure in the well, will initially see the company repair a faulty valve which will allow gas to flow, and will also enable the evaluation of operational parameters of both the reservoir and gas processing facility. Big Pic in August.

Solo Oil PLC (LON:SOLO) said it is ‘pleased’ with today’s Tanzania update by partner Aminex plc (LON:AEX). Aminex told investors that it has kicked off remediation work for the Kiliwani North well.

88 Energy Ltd (LON:88E) has signed a rig contract for the drilling of the Winx Prospect, located on the Western Blocks, North Slope of Alaska. The Winx-1 well will target the Nanushuk play fairway where 3D seismic studies defined an oil prospect which has a prospective resource of 400mln barrels of oil (MMbbls).

Rare earths project developer Mkango Resources Ltd (LON:MKA) has re-jigged its board with the appointment of three new non-executive directors while two are stepping down. The three non-execs joining are finance and investor relations experts.

Asiamet Resources Limited (LON:ARS) said it has successfully intersected strong copper mineralisation at a depth well beyond the 2014 resource envelope at the easterly extensions of the Beutong West Porphyry (BWP) in Indonesia.

Liberum Capital has reiterated a ‘buy’ rating and 20p price target on Asiamet Resources PLC (LON:ARS) (CVE:ARS) shares after the group’s latest assay results provided further confirmation of resource upside at the Beutong prospect in Indonesia and also indicated that the East and West Porphyrys may unite at depth.

Canadian copper miner Rambler Metal & Mining PLC (LON:RMM) saw an improved second quarter as copper and gold grades improved and more ore was processed. Revenues rose by 31% to US$8.1mln in the three months to June, while losses were reduced to US$4.5mln from US$6.1mln.

Cadence Minerals Plc (LON:KDNC) issued a stock market statement highlighting news from 12% owned Macarthur Minerals (CVE:MMS) which has identified three high priority nickel sulphide targets at the Lake Giles project in Western Australia. It follows a recent geophysical survey that used moving loop electromagnetics, and, the targets are derived from previous drilling and soil geochemistry data.

Canadian copper miner Rambler Metal & Mining PLC (LON:RMM) saw an improved second quarter as copper and gold grades improved and more ore was processed. Revenues rose by 31% to US$8.1mln in the three months to June, while losses were reduced to US$4.5mln from US$6.1mln.

Anglo Asian Mining Plc (LON:AAZ) has cleared a regulatory hurdle which will allow the gold, copper and silver miner to start paying a dividend. At June’s annual general meeting, chief executive Reza Vaziri said the board was considering paying a maiden dividend.

Woodford Investment Management has increased its stake in flu vaccine developer hVIVO PLC (LON:HVO) to just shy of 28%. Woodford increased its holding in hVIVO to 27.94% from 27.02% through the latest share purchase.

Rockfire Resources Plc (LON:ROCK) announced that its updated corporate presentation is now available on the company's website.

Summit Therapeutics PLC (, AIM:SUMM) (NASDAQ:SMMT) announced that Glyn Edwards, the biotech group’s chief executive officer, will present on the company's plans to advance its new mechanism antibiotic pipeline at the Rodman & Renshaw 20th Annual Global Investment Conference, on 6 September 2018 at 11:15am EDT in New York City. The group said a live webcast of the presentation will be available in the Investors section of the company's website.

IronRidge Resources Limited (LON:IRR) announced that it will be attending the Africa Down Under Conference in Perth, Australia, which takes place between 29 August 2018 and 31 August 2018 at The Pan Pacific Perth Hotel, 207 Adelaide Terrace, Perth, WA 6000. The company has also uploaded its updated corporate presentation to the Investor Relations section of its website.

UK commercial real estate investment firm Custodian REIT (LSE: CREI) has raised £1.2mln in a share placing. The company said it issued one million new ordinary shares at 120p each to meet investor demand.

Range Resources Ltd (LON:RRL) has told investors that the announced changes to the refining policy of Trinidad’s state oil firm is not expected to have any impact on the company’s operations.Li

Live Company Group Plc (LON:LVCG) said Simon Bennett has resigned as non-executive director with immediate effect in order to "pursue other opportunities". The company is in advanced discussions over the appointment of two additional independent non-executive directors, and a further announcement will be made in due course.

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