Proactive news snapshot: Chariot Oil & Gas, African Battery Metals, AdEPT Technology, Minds + Machines …

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

Your daily round-up from the world of Proactive

Chariot Oil & Gas Limited (LON:CHAR) has expanded its footprint offshore Morocco, with the award of the Lixus licence. It will own 75% of Lixus alongside state-backed partner ONHYM (Office National des Hydrocarbures et des Mines) which holds the other 25%.

African Battery Metals PLC is to push ahead with its work in Cameroon following a review, with the tenements held seen as highly prospective for elevated grades of nickel and cobalt. Paul Johnson, African Battery Metals’ executive director said "ideally we would like to commence as soon as possible to enable work to be completed prior to the heavy rains expected after June."

African Battery Metals also said it was today notified that Value Generation Limited, a company beneficially owned by Paul Johnson, has purchased 1,250,000 ordinary shares in the company at an average price of 0.4423p each. It added that, following this purchase, Johnson has a beneficial interest in a total of 16,250,000 shares, representing approximately 4.48% of the group’s issued share capital.

AdEPT Technology Group PLC (LON:ADT) has said it will increase its final dividend in its upcoming results for the year ended 31 March 2019 after its revenues and underlying earnings (EBITDA) rose in line with market expectations.

Minds + Machines PLC (LON:MMX) has seen an ‘exceptionally strong’ start to the current year while recurring revenues now account for the majority of income. The registry owns a raft of internet addresses including .law, .luxe and .xxx.

StatPro Group PLC (LON:SOG) has landed a three-year, US$1.2mln contract extension for its cloud-based portfolio analytics product, Revolution. The customer is an unnamed fund administrator, which has won a new client.

Shield Therapeutics PLC (LON:STX) expects to sign more out-licence agreements in the coming months for Feraccru – its flagship iron deficiency treatment. The AIM company struck a deal which gave Dutch pharma group Norgine the right to sell the drug in Europe, Australia and New Zealand towards the end of 2018. Big Pic in December.

After a year of investment, virtual reality firm Immotion Group PLC (LON:IMMO) has told investors it is ready to push on towards break even. The AIM company, which makes immersive VR ‘pods’ and the content that goes with them, ploughed money into opening new ImmotionVR arcades and developing games and experiences in 2018.

Metal Tiger PLC’s (LON:MTR) Kalahari Metals Limited (KML) has received approval from the Botswana government for an environmental management plan (EMP) at its Ngami copper project. AIM-listed Metal Tiger, which holds a 50% stake in KML, said the EMP would now be subject to a four-week public review period, a precursor to authorisation which, if granted, would allow drilling at “compelling” targets at Ngami.

Rambler Metals and Mining PLC (LON:RMM) has appointed Andre Booyzen as its new chief executive. Booyzen has 15 years’ of experience in the mining sector, Rambler said, and recently led the financial turnaround at Mandalay Resources’ Costerfield gold mine in Australia.

KRM22 PLC (LON:KRM) said it plans to raise up to £1.8mln via a share placing and subscription for new stock as it revealed it is in early talks to tap a venture debt provider for up to £10mln to fund potential acquisitions. If the debt deal is agreed, the company would draw down an initial £1-£2.5mln, investors were told.

Sound Energy PLC (LON:SOU) is looking forward to the start of testing at the TE-10, once certain equipment arrives from Tunisia. The company, in a statement after Tuesday’s close, confirmed that TE-10 will undergo testing after a ‘rig-less re-entry’ to the well, following the receipt of coiled tubing which is on the way.

Summit Therapeutics PLC (LON:SUMM) is set to expand its drug portfolio with a new antibiotics series designed to fight bacteria responsible for infections of the bloodstream, lungs and urinary tract. The company plans to present data on the series of new mechanism antibiotics, called DDS-04, at the 29th European Congress of Clinical Microbiology & Infectious Diseases in Amsterdam on April 13-16.

Jersey Oil and Gas PLC (LON:JOG) has revealed results from the Equinor-operated Verbier appraisal well which has failed to deliver the potential upside case for the project. The well, designed to confirm and upgrade resources, did not encounter the targeted Upper Jurassic sands as anticipated.

Alba Mineral Resources plc (LON:ALBA) has relayed to investors a timetable for the upcoming work programme at the Brockham oil project, onshore UK. It has a 5% interest in the project led by operator Angus Energy, which provided the company with the schedule. The indicative timetable sees operations starting on or around 12 April.

Kibo Energy PLC (LON:KIBO) has said that, further to its announcement dated 11 December 2018, a final decision regarding the Strategic Development Agreement with SEPCOIII has not been made, with discussions ongoing. The company added that it looks forward to updating the market further in this regard in due course.

Pan African Resources plc (LON:ABF) announced that Rowan Smith has resigned as an independent non-executive director of the group with effect from 3 April 2019 after more than four years on the board, in order to pursue other interests. The group said its board of directors, which now consists of three independent non-executive and two executive directors, has commenced a process to appoint a suitable replacement non-executive director.

Taptica International Ltd. (LON:TAP), a global leader in advertising technologies, announced that following the completion of its merger with RhythmOne, a lunch meeting will be held for private investors at 1.00 pm on Friday, 12 April 2019 at the offices of finnCap, 60 New Broad St, London EC2M 1JJ.


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