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Proactive news snapshot: ECSC Group, AFC Energy, Shanta Gold, Iofina PLC …

Published: 15:15 17 Jan 2019 GMT

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Cyber security specialist ECSC Group PLC (LON:ECSC) has extended its relationship with a major food producer after landing a new £300,000 contract.

Alkaline fuel cell power technology developer AFC Energy PLC (LON:AFC) has successfully demonstrated the world’s first electric vehicle charger based on hydrogen fuel-cell technology.

Higher grades at one of the main deposits at its New Luika mine in Tanzania helped Shanta Gold Limited’s (LON:SHG) underlying profits jump 21% in 2108. Gold production for the year was 81,872oz against guidance of 80,000oz as the higher grades at Bauhinia Creek meant fourth-quarter output rose to almost 24,000oz.

Iofina plc (LON:IOF) had a strong second half to what was a record-breaking year in 2018 in terms of crystalline iodine production.

Synairgen plc (LON:SNG) shares soared on Thursday after the respiratory drugs specialist confirmed its two Lysyl Oxidase Like 2 (LOXL2) inhibitors are now ready to enter phase II trials. Pharmaxis, Synairgen’s partner in the programme, has received the results from three-month toxicology studies, completing the data package needed to advance talks with potential partners.

Mobile advertising group Taptica International PLC (LON:TAP) has confirmed it is still in discussions with a potential acquisition target.

Range Resources Limited (LON:RRL) shares spiked 20% higher to 0.04p on Thursday although, in a one par statement simply noting the recent rise, the company confirmed that it knows of no corporate or operational reason for this movement.

Touchstone Exploration Limited (LON:TXP)  has provided details of the Ortoire exploration block where there’s potential for a multi-year exploration campaign. The statement includes the findings of a prospect evaluation process undertaken by GLJ Petroleum Consultants Ltd, which reviewed each of prospects previously identified by Touchstone within the  Ortoire block.

Cello Health plc (LON:CLL) expects to hit expectations for 2018 after an “excellent year” at its big pharma consultancy division. Strong like-for-like growth in this arm, known as health, offset a slower outcome from brand and marketing operation Signal.

Specialist debt trust RM Secured Lending PLC (LON:RMDL) is shifting its investment stance more towards non-cyclical sectors as it believes the world economy is slowing. “Looking ahead into Q1 2019, the investment manager expects volatility to remain elevated and with investors focusing their attention on the macro-economic data, credit and equity markets will remain generally weak.

SigmaRoc PLC (LON:SRC) is expecting a revenue jump of over 50% in 2018 as it issued a trading update alongside news of a refinancing of convertible loan notes (CLNs).

ECR Minerals PLC (LON:ECR) chief executive Craig Brown highlighted that the explorer can now move forward confidently with ventures like the Windidda gold project, following the completion of financing in 2018.

88 Energy Limited (LON:88E) shares moved higher in Wednesday’s early deals as the Alaska oil explorer secured a permit to drill the Winx-1 well. Drilling is slated to start by mid-February, the company confirmed.

Photonstar LED Group PLC (LON:PSL) has raised gross proceeds of £100,000 via a placing to provide the company with additional working capital and further strengthen its balance sheet. The AIM-listed group said the placing of 500mln new ordinary shares was undertaken by its joint broker Peterhouse Capital with new and existing investors at a price of 0.02p each.

Kingswood Holdings Limited (LON:KWG) has issued an update on its strategy amid a board reshuffle as its chief executive (CEO), Marianne Ismail, departed after 18 months in the role.

Victoria Oil & Gas plc (LON:VOG) has, in its quarterly operations update, confirmed that its production operation ended 2018 of a high. It reported an average gas production rate of 4.45mln cubic feet per day for the three months ended 31 December, and the average rate for the whole year measured 3.75mln cubic feet per day.

Jubilee Metals Group PLC (LON:JLP) shares surged in mid-morning Thursday after its combined quarterly earnings jumped 13%.In an operations update for the fourth quarter, the metals miner reported that operational earnings had risen to £2.17mln, while its Hernic operation in South Africa had set a new quarterly production record delivering a 4% rise in platinum group metals (PGM) delivered to 6,279 ounces.

Oracle Power PLC (LON:ORCP) shares jumped by a fifth as its Thar power station project was re-affirmed as a priority for the Pakistani government. Approval to increase the capacity of Oracle’s proposed coal-fired power station to 700Mw from 600Mw was also granted along with the use of supercritical technology.

Capital Drilling Limited (LON:CPD) executive chairman Jamie Boyton described the mine services contractor’s performance in 2018 as strong, especially in the second half. The company, in a statement, gave investors an update on the fourth quarter ahead of the release of full-year financial results on 14 March.

Africa-focused mineral sand miner Base Resources Limited (LON:BSE) became net positive for the first time in the final quarter of 2018. The miner started the final quarter with US$23.8mln of net debt but revealed in an activities report that it closed out the year with net cash of US$1.0mln.

ADES International Holdings Ltd (LON:ADES) has unveiled a project to integrate its recent acquisitions in a move to improve value delivery.

Regency Mines PLC (LON:RGM) said it has been informed that Andrew Bell, a director of the company, today purchased a total of 2,028,504 ordinary shares in the group at an average price of 0.335p each. The group said, following the purchase, Bell’s holding in the company totals 4.35%.

Vast Resources PLC (LON:VAST), the AIM listed mining company with operating mines in Romania and Zimbabwe, shares fell after it said the US$5.5mln Tranche B Mercuria facility will not be received by today. The company, however, added that it continues to expect receipt of the Tranche B Mercuria facility. It pointed out that this is the last day of the 30 day period in which Bergen Global Opportunities Fund LP is not able to exercise its conversion rights in respect of the US$1.575mln convertible security issued to it under the US$3mln bridge facility announced on 20 December 2018. 

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