Proactive news snapshot: Thor Mining, Kibo Energy, Minds + Machines Group, Xtract Resources ...

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

Your daily round-up from the world of Proactive

Thor Mining PLC (LON:THR) (ASX:THR) has signed a Memorandum of Understanding for the vending of its interest in the Kapunda copper project into a new copper-focused company, Enviro Copper Ltd. It is intended that Enviro Copper will seek a listing on a recognised securities exchange in the near term.

Corporate financier Sanderson Capital has converted its 2.5% minority interest in Kibo Energy PLC’s (LON:KIBO) Mbeya Coal to Power project (MCPP) in Tanzania into Kibo shares. In return for giving up its 2.5% stake, Sanderson has been issued with 126.44mln Kibo shares, valuing Mbeya at £66mln.

By the end of this month, top-level domains (TLD) registry company Minds + Machines Group Limited (LON:MMX) will be debt-free. MMX, which owns TLDs such as .law and .london, enjoyed “strong trading” in the final few months of 2018 which is when a lot of its contracts come up for renewal.

Xtract Resources PLC (LON:XTR) saw its shares jump in lunchtime trading Tuesday after it entered an option agreement on the Eureka copper/gold project in Zambia. The exploration firm said under the agreement it would have an option to acquire a 50% stake in the project before 1 October 2019 after spending up to US$200,000 to assess the suitability of the project for a resource drilling programme and a feasibility study.

e-Therapeutics PLC’s (LON:ETX) annual results revealed a year of significant progress exploiting the potential of its network-driven drug discovery, including its first commercial research collaboration.

BATM Advanced Communications Limited (LON:BVC) has won a contract with a Philippines-based company for its agri-waste treatment solution, its first customer outside of Israel.

IXICO PLC (LON:IXI) said it will provide data analytics and neuroimaging services to a late-stage programme for people with the degenerative brain disorder Huntington's disease. Its expertise will be used in what’s called an extension study to allow people living Huntington's to continue to contribute to the search for a treatment for the condition.

Grit Real Estate Income Group Limited (LON:GR1T) has acquired an extra 25% stake in the Mukuba Mall in Zambia in a US$8.2mln deal. The Africa-focused property investor said following the transaction it would own 75% of the mall’s holding entity, Mukuba Mall Limited, having previously held a stake of 50%.

Irish gold explorer Connemara Mining Company PLC (LON:CON) has raised £230,000 to help support ongoing exploration activities at its Mine River gold project in County Wexford. Chief executive Patrick Cullen, finance director James Bill and non-executive director David Cockbill all put their hands in their pockets, buying a combined £25,000 worth of shares.

Ironridge Resources Ltd. (LON:IRR) has hit multiple new high-grade lithium pegmatite intersections in reverse circulation drilling at its flagship Ewoyaa project and at the new Abonko discovery in Ghana, West Africa. Highlights from infill drilling at Ewoyaa include 80 metres grading 1.52% lithium oxide (Li2O), 68 metres grading 1.31% Li2O, and 60 metres grading 1.34% Li2O.

Kavango Resources PLC (LON:KAV) has raised £250,000 through a placing of just under 9mln shares at a price of 2.8p each. The fundraise comes immediately after a 25 February 2019 placing, which raised £500,000.

KRM22 PLC (LON:KRM), the technology and software investment company, with a particular focus on risk management in capital markets, announced that Jim Oliff has resigned from his role as non-executive director. The group noted that Oliff was diagnosed with cancer in 2018 and has made the decision to step down from his role as non-executive director while he undergoes treatment.

Goldplat plc (LON:GDP), the AIM-quoted gold producer, with international gold recovery operations located in South Africa and Ghana and a gold mine in Kenya, said it has been awarded the Excellence in Mineral Processing award, announced in the Mining Elites in Africa 2019, a yearly Mining Review Africa supplement.


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