Proactive news snapshot: IQ-AI, IGas Energy, OPG Power Ventures, Shanta Gold …

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

Your daily round-up from the world of Proactive

IQ-AI Limited (LON:IQAI) shares surged in early trading on Monday after the company raised £268,500 through the issue of convertible loan notes.

IGas Energy Plc (LON:IGAS) has confirmed a sequence of hydrocarbon bearing shale over some 250 metres in the SR-01 well, at Springs Road in North Nottinghamshire. Significant gas indications were observed, the company said.

Indian power generator OPG Power Ventures PLC (LON:OPG) expects to meet market expectations in the current fiscal year to the end of March.

Shanta Gold Ltd. (LON:SHG) has intersected ore at the underground Ilunga mine, part of the wider New Luika gold mining complex. The intersection comes three months ahead of schedule, and occurred as predicted by the company’s geological model.

United Oil & Gas PLC (LON:UOG) has expanded its asset portfolio, adding a frontier exploration project in West Africa. The company has inked an option deal which will allow it to acquire a 20% stake in the Bénin Onshore Block B.

Nektan PLC (LON:NKTN) has signed up the betting partner of Manchester United to its B2B E-lite platform. Mo Play, which launched last August by Addison Global, is also the betting partner of Watford FC, another premier league team.

Mobile phone antenna specialist MTI Wireless Edge Ltd (LON:MWE) saw a sharp uplift in sales and profits follow the merger with its major shareholder in September. Operating profit rose by 82% to US$2.9mln in the year to December on revenues 35% higher at US$35.5mln. 

Risk management software maker KRM22 PLC (LON:KRM) has launched Enterprise Risk Cockpit – a real-time enterprise risk management application for capital markets companies. The Enterprise Risk Cockpit will allow firms to eliminate cumbersome spreadsheets, improve data accuracy and gain actionable insights on Enterprise risk.

Regency Mines PLC (LON:RGM) has warned it might have to cede ownership of its coal assets in Pennsylvania, having fallen behind on its obligations. Regency owns 47% of MET, the joint venture running the coal operation, and now needs to make a US$565,000 payment to its partner.

African Battery Metals PLC (LON:ABM) has made progress in taking its Kisinka copper-cobalt project in the Democratic Republic of Congo to the next stage of exploration. The AIM-listed mining company plans to proceed with the project after its chairman met with project vendors and local technical advisers at the site in February.

Diabetes drug developer Arecor has appointed Susan Lowther as its new chief financial officer. Lowther has “significant experience” in the life sciences industry, Arecor said, having previously been the finance boss of AIM-listed IXICO PLC (LON:IXI) until December last year.

Silence Therapeutics PLC (LON:SLN) bosses are looking forward to what should be an “exciting” nine months or so for the drug developer. The company, which makes drugs that can ‘silence’ faulty genes, expects to begin its first-ever in-human trial in the second half of 2019 as it puts its SLN124 blood disorder treatment through its paces.

Live Company Group Plc (LON:LVCG) shares rose in early deals on Monday after it announced the launch of new BRICKLIVE shows in Germany and Mexico.

Kodal Minerals PLC (LON:KOD) has raised £700,000 via a placing of 500mln shares at 0.14p each, following the completion of a resource update at its Bougouni lithium project in southern Mali.

Berkeley Energia Ltd (LON:BKY) has received a number of favourable assessments from various regulatory bodies in regard to permitting at its Salamanca uranium mine in Spain. These include two assessments from the Nuclear Safety Council.

Europa Metals Limited (LON:EUZ), the lead-zinc explorer, said the full independent scoping study of its wholly owned Toral project has been completed. The study puts a net present value (NPV) on the project, which is located in the Castilla y León region of Northwest Spain, of US$110mln using a discount rate of 8%.

Gold explorer Oriole Resources PLC (LON:ORR) is to receive US$0.5mln from its Turkish partner, Andolu. The pay-out was triggered after Andolu defined a JORC-compliant resource estimate of 348,150 ounces gold and 2.83mln ounces of silver at the Karaağaç project in Turkey.

Recent exploration work undertaken by Kalahari Metals, a company 34%-owned by Metal Tiger PLC (LON:MTR), on the Kitlanya joint venture project has satisfied the first earn in condition and will allow it to take a 25% stake.

Asiamet Resources Limited (LON:ARS) shares were up 12% on Monday buoyed by news of an exercise of options by a senior manager and by bullish comment from Liberum Capital. In a statement today, the AIM-listed firm said it had received notification from Mansur Geiger, the group’s Vice President-Indonesia, to exercise options over 1,000,000 new common shares at a price of C$0.05 each.

Arc Minerals Limited (LON:ARCM) said it was notified that it's executive chairman, Nick von Schirnding today purchased 500,000 ordinary shares in the company at a price of 2.50p each. Following this transaction, the group said, von Schirnding holds a beneficial interest in 16,440,532 ordinary shares representing approximately 2.33% of the company's issued share capital. In addition, it added, von Schirnding holds a beneficial interest in 16,175,752 options and warrants. 

Circle Property PLC (LON:CRC), the specialist regional UK office investment, development and management company, announced that its chief executive officer, John Arnold has acquired 27,151 ordinary shares in the company, at an average price of 184p each, taking his holding in the company to 3.55% of the issued share capital. The group also said its chief operating officer, Edward Olins had acquired 10,844 shares, also had an average price of 184p each, taking his holding in the company to 0.49%.

WideCells Group PLC (LON:WDC) announced on Friday that it received a further notice from the European High Growth Opportunities Securitization Fund in respect of the exercise by the investor of its conversion rights under the Convertible Bonds for the principal amount of £80,000, together with a penalty payment of £120,000, resulting in the issue to it of 80,000,000 new ordinary shares in WideCells.

Shefa Yamim (ATM) Ltd (LON:SEFA), the precious stones exploration Company in Northern Israel, has announced the appointment of SI Capital as sole broker and strategic advisor to the company with immediate effect. The group said VSA Capital will continue to be the financial advisor to the company.

Tower Resources PLC (LON:TRP), the AIM-listed oil and gas company with its focus on Africa, said it will be providing an Investor Update at the London South East Oil & Gas Investor Evening which takes place at 6:15 p.m. on Tuesday 12 March 2019 at the Brewers Hall, Aldermanbury Square, London Wall, EC2V 7HR.

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