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Proactive news snapshot: Alba Mineral Resources, Immotion Group, Pan African Resources …

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

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Alba Mineral Resources plc (LON:ALBA) investors will be pleased to see the latest positive results from the company’s 11.765% owned Horse Hill oil project. In a statement, the project’s largest listed stakeholder UK Oil & Gas PLC (LON:UKOG) – which has a 50.635% majority interest in Horse Hill - provided details from the production testing programme at Horse Hill and told investors that a week-long pressure build up (PBU) test was successful.

Out of home virtual reality firm Immotion Group PLC (LON:IMM) has won a US$500,000 contract that will see it make three exclusive immersive experiences for Dutch entertainment group, iP2Entertainment.

Pan African Resources plc (LON:PAF) boosted gold production by more than 51% in the nine months to March helped by an 11% rise at the Barberton Mines complex. The South Africa-based gold miner added though that it has decided against re-opening the Royal Sheba mine at Barberton as a stand-alone project.

Afarak Group PLC (LON:AFRK) has released financial results for the first quarter which confirmed the negative impacts amid weak ferrochrome markets. The company noted the lower ferrochrome prices and lower sales volumes. It reported €41.3mln of revenue, down 17% from €50.2mln in the comparative quarter of last year.

Stobart Group Limited (LON:STOB) has updated on its ongoing legal proceeds against its former CEO Andrew Tinkler. The FTSE 250-listed company said that at a hearing in the High Court on 16 May, Judge Russen QC ordered Tinkler to pay 55% of the company's legal costs related to the first trial in November 2018. They pointed out that Tinkler has applied for permission to appeal certain aspects of the trial judgment handed down on 15 February 2019.

Film insurance and services group FFI Holdings PLC (LON:FFI) will produce underlying profits this year at the bottom of its indicated range. “Underlying EBIT will be within, but at the lower end of, the range of US$7.5mln to US$11.5mln.”  In the half year to September, FFI posted underlying EBIT of US$6mln.

Falcon Oil & Gas Ltd (LON:FOG) is raising up to US$10mln of new capital to support its participation in an anticipated four-well horizontal drilling programme in Australia. New shares are being priced at 14p each and it is expected that the shares will be taken up by institutional investors.

African Battery Metals PLC (LON:ABM) said field operations at its Kisinka copper-cobalt project in the Democratic Republic of Congo are complete with the samples taken during the process being prepared for analysis. In all 23 staff, including two geologists and five technicians, collected earth from 663 termite mounds that will be assessed using x-ray fluorescence spectrometry technology to determine copper and cobalt levels.

Oriole Resources PLC (LON:ORR) is aiming to expand its footprint in Cameroon this year, the group said, as it updated on strategy at its AGM on Thursday.

CentralNic Group PLC (LON:CNIC) shares ticked up on Friday after it entered into a partnership with ‘.blog’ to provide registry services for the domain. In a statement, ‘.blog’ said it looked forward to working with CentralNic, which controls around 30% of the top-level domain (TLD) market and manages 8mln domains, to “further advance” the domain through the company’s tools and services.

Sunrise Resources PLC (LON:SRES), the AIM-traded company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA, said a new presentation, which is being given by the Chairman, Patrick Cheetham, later today at the inaugural annual symposium of the Natural Pozzolan Association in Wickenburg, Arizona, has been added to its website.

NQ Minerals PLC (NEX:NQMI) (OTCQB:NQMLF), the mineral processing, exploration and mining company, has issued 1,367,521 new ordinary shares at a price equivalent to 6.5p per share for payment settled with shares associated with a three month extension of maturing debt.

ECR Minerals PLC (LON:ECR), the precious metals exploration and development company, said it has now launched a new corporate website.

Block Energy PLC (LON:BLOC), the exploration and production company focused on the Republic of Georgia, announced that the updated corporate presentation is now available to view on the company's website.

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