Proactive news snapshot: Argo Blockchain, Tavistock Investments, Be Heard Group …

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

Your daily round-up from the world of Proactive

Peace has broken out between Argo Blockchain PLC (LON:ARB) and activist investor First Investments just days before a crunch meeting, helping its shares soar higher. The two now plan to work together, though Jonathan Bixby will step down as chairman to be replaced by fellow founder Mike Edwards.

Tavistock Investments PLC (LON:TAVI) shares jumped on Wednesday as it unveiled plans to pay out a maiden interim dividend after earnings surged just over 100% in its latest full year.

Be Heard Group PLC (LON:BHRD) is expecting its full year performance to be “comfortably in line with expectations” after good growth in the first quarter.

Medicinal cannabis investor Sativa Investments PLC (AQSE:SATI) turned a gross profit of £110,000 in 2018 – its first year as a listed company. In the 12 months to the end of December, Sativa reported turnover of £260,000, all of which came from its two UK ventures, George Botanicals and Phytovista.

Savannah Resources PLC (LON:SAV) expects to be able to “significantly” increase the existing resource and potential life of mine at its Mina do Barroso lithium project in Portugal as the ongoing drill programme continues to yield high grade intersects.

Thor Mining PLC (LON:THR) has highlighted new drill results achieved by Hawkstone Mining at the Big Sandy lithium clay deposit in Arizona. Hawkstone released results from the first 19 of 37 recently drilled holes, and, the highlights included what was described as “thick, high-grade lithium mineralisation”. The AIM-quoted company holds 7.42mln Hawkstone shares, equating to 1.3% of the company.

Oncimmune Holdings PLC (LON:ONC) has received regulatory approval to sell its early stage lung cancer detector, EarlyCDT-Lung, in Israel. Lung cancer kills more people in Israel than any other form of the disease, said the company.

Haydale Graphene Industries PLC (LON:HAYD) shares perked up on Wednesday after the group’s Composite Transition Piece (CTP) got a vote of confidence from FTSE 100 utilities firm National Grid PLC (LON:NG.). CTPs are used to provide sealing around pipelines when they pass through concrete walls, allowing pipes to be inspected and maintained more easily while preventing contamination by soil and water.

Specialty pharma Clinigen Group PLC (LON:CLIN) has taken back direct control of its Ethyol and Totect oncology drugs from Cumberland Pharmaceuticals.

Stobart Group Ltd (LON:STOB) performed a mini boardroom shake-up as it named a new chairman and announced the departure of a senior independent director. Turnaround specialist David Shearer, who currently chairs Speedy Hire, will replace Iain Ferguson at the head of the company, which owns Southend and Carlisle airports. He joins on June 1 and will assume his new role at the next AGM.

Alba Mineral Resources plc (LON:ALBA) announced a maiden resource for the Thule Black Sands (TBS) project in north-west Greenland. An independent mineral sands specialist, IHC Robbins, detailed a 19mln tonne inferred resource comprising 43.6% ‘total heavy minerals’. It also noted an in-situ Ilmenite grade of 8.9%, giving 1.7mln tonnes of contained ilmenite.

A bounce in the price of oil in Edmonton, Canada, has given Cabot Energy PLC (LON:CAB) a little more time to negotiate a long-term funding package. Cabot raised £2.53mln from a share issue in March and has enough working capital to last until the end of May.

Afarak Group PLC (LON:AFRK) has issued a profit warning for the first quarter of 2019 after some of the challenges from 2018 persisted into its new financial year. The chrome alloys specialist said in a trading update in late-afternoon on Tuesday that the ferrochrome price had fallen in the quarter due to weaker demand for stainless steel from China, and as a result the company expected its performance for the period would be “below market expectations” with an expected EBITDA loss of around €5mln.

Eurasia Mining plc (LON:EUA) has posted a maiden annual gross profit following the first full season of mining at its West Kytlim platinum and gold alluvial mine in Russia. Total sales soared to £2.57mln in 2018, compared with just £0.18mln a year earlier.

Premier African Minerals Limited (LON:PREM) is in talks over the final terms of the contract to drill the Zulu lithium deposit in Zimbabwe. KME was supposed to carry out the drilling once the rainy season ended at a cost of US$400,000, but Premier said today a long form drilling contract has yet to be agreed.

Tlou Energy Limited (LON:TLOU) investors will be looking forward to further clarification over an apparent positive result of its tender for a coal bed methane based pilot power plant in Botswana. The formal process got underway in 2018 after the Botswana authorities requested tenders for the development of a plant with up to 100 megawatts capacity. Big Pic in April.

Bushveld Minerals Ltd (LON:BMN) said it ended the first quarter on a “very strong note” with its best monthly production from its South African vanadium plant in 21 months. During the three months ended March 31, the Vametco operation produced 649 metric tonnes of the metal, which is found in alloys used in jet engines. That was broadly in line with the same period last year.

Tharisa PLC's (LON:THS) half year results revealed the impact of lower chrome prices and reduced sales, though the company told investors that it expects a strong operational performance for the remainder of the year.

APQ Global Limited (LON:APQ), the emerging markets growth company announced that, as at the close of business on 30 April 2019, its unaudited book value per ordinary share was 90.96 US cents, equivalent to 69.77p. It said that figure includes the accrual for the 1.5p (2.0 US cent equivalent) dividend payable on 31 May 2019.

African Battery Metals PLC (LON:ABM) has agreed to acquire an additional 7.5mln shares in AIM peer Katoro Gold PLC (LON:KAT) and a 25% interest in Kibo Nickel, which owns the Haneti Nickel project in Tanzania.

EQTEC Plc (LON:EQT) has provided an update on its business strategy, which seeks to make partnerships for the development of waste gasification applications in targeted industry verticals.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Haydale Graphene Inds PLC named herein, including the promotion by the Company of Haydale Graphene Inds PLC in any Content on the Site, the...



Xpediator PLC's CFO Robert Ross and COO of Logistics Romania to step up as...

Xpediator PLC's (LON:XPD) CFO Robert Ross speaks to Proactive's Andrew Scott following the news chief executive Stephen Blyth will step down from the position. Blyth will continue as a director in the position of founder and non-executive deputy chairman. While the search for a permanent...

1 day, 12 hours ago

6 min read