Proactive news snapshot: AfriTin Mining, Union Jack Oil, Eurasia Mining …

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

Your daily round-up from the world of Proactive

AfriTin Mining Ltd (LON: ATM) has received a second batch of assay results from drilling at its Uis tin mine in Namibia. Among the most significant intercepts from the most recent five holes were 30.32 metres grading 0.20% tin and 91 parts per million tantalum, 109.32 metres grading 0.17% tin and 77ppm tantalum, and 53.83 metres grading 0.16% tin and 73ppm tantalum.

Union Jack Oil PLC (LON:UJO), a UK focused on-shore hydrocarbon production, development and exploration company announces that Frazer Lang, Non-Executive Director, has tendered his resignation, which will take place with immediate effect. Frazer, who is also an Executive Director of Humber Oil & Gas Limited is leaving to devote more time to the running of Humber.

Russian regulatory authorities have approved Eurasia Mining plc’s (LON:EUA) feasibility study of permanent conditions for the Kluchiki Area of the West Kytlim project, where mining is currently ongoing.  The feasibility of permanent conditions is equivalent to a definitive feasibility study in Western mining reporting terms.

Seeing Machines Ltd (LON:SEE) technology will be installed as a safety feature in self-driving cars as part of a contract with an American manufacturer.

Redx Pharma (LON:REDX) has secured short-term funding with a loan of up to £2.5mln and is in talks to find a longer-term financing solution. Shareholder Moulton Goodies Ltd has agreed to provide the secured loan note facility, with £1mln being drawn down immediately. The coupon is 10% a year and there is an option to turn the debt into equity in certain circumstances.

Rockfire Resources PLC (LON:ROCK) has raised its grade estimate for the Copperhead project in Queensland, Australia. During the planning of geophysical surveys, Rockfire found that original and follow-up copper sampling encountered high values of molybdenum that were not included in previous estimates.

Be Heard Group PLC (LON:BHRD) has bought a 20% stake in digital transformation consultancy, Digital Delivery Consulting Ltd, for £320,000 in cash.

Active Energy Group PLC (LON:AEG) announced that, further to its announcement of 4 June 2019, its reactors have been successfully delivered to its industrial site in Lumberton, Robeson County, North Carolina, which is being developed as the first permanent production facility for its biomass fuel CoalSwitch. The company said it is now making rapid progress in advancing the operation at Lumberton, with construction of the 5 tonne per hour plant to commence and engineering crews arriving within the month.

Avacta Group PLC (LON:AVCT) has selected the cancer drug candidate that it will take into first-in-human clinical trials. This is an important milestone that means the company remains on track to submit an investigational new drug/clinical trial application by the end of next year.

Bushveld Minerals Limited (LON:BMN) has announced a new innovative vanadium electrolyte rental product which is being launched alongside Avalon Battery Corporation. The AIM-quoted firm’s 84% owned subsidiary Bushveld Energy has worked with Avalon to structure and design the rental product. It includes a financial model and a set of legal agreements which allow terms acceptable to three different parties - a vanadium producer, a battery company and an electricity customer.

Live Company Group Plc (LON:LVCG) is to stage its first BRICKLIVE event in Aberdeen in September at the city's new exhibition centre. SMG Europe Holdings will promote the event at the P&J Live venue, a site that cost £333mln and contains 48,000 square metres of multi-purpose events space.

BATM Advanced Communications Ltd (LON:BVC) has entered into a new strategic technology partnership with Clavister, a cybersecurity specialist. Telco Systems, the software development and design business with BATM’s Networking & Cyber division, will work with Clavister to run a virtualised platform.

ValiRx Plc (LON:VAL) said it is carefully monitoring its working capital position as advanced talks to terminate a subscription agreement with European High Growth Opportunities Securitisation Fund continue.

OptiBiotix Health PLC (LON:OPTI) has struck a deal with a local distributor to market its ProBiotix arm’s cholesterol management products in Vietnam.

The countdown is on for the start of Eco Atlantic Oil & Gas Ltd’s (LON:ECO) (CVE:EOG) high impact exploration drilling campaign offshore Guyana. Eco, in a statement, told investors that the Stena Forth drillship has now been mobilised and is on its way to Guyana from West Africa.

Rainbow Rare Earths Ltd (LON:RBW) told investors that it has received an exercise notice from The Lind Partners LLC for the conversion of a US$900,000 loan facility. It means that the company will be required to issue 26,290,251 new shares to Lind, giving an effective conversion price of 2.69p (versus Friday’s closing share price of 7.07p).

Thor Mining PLC (LON:THR) has revealed what it described as positive metallurgical testwork for the Pilot Mountain project in Nevada. The company highlighted that in testing a scheelite concentrate was produced, assaying more than 68% tungsten trioxide (WO₃). The tests showed a metallurgical recovery rate of 73.6%.

Strategic Minerals PLC (LON:SML) (USOTC:SMCDY) has not yet received a US$4mln payment that was due on 7 June 2019 from a buyer of material from the company’s Cobre magnetite operation in the USA. The client has been keeping Strategic Minerals informed of procedural delays to its funding lines and continues to indicate that payment is imminent. However, despite the client's assurances, Strategic Minerals now considers that it is in the best interests of shareholders to prepare a claim against the client which is likely to seek damages in excess of the amounts due.

Benchmark Holdings PLC (LON:BMK), the aquaculture health, nutrition and genetics business, announced that, further to the announcement made on 29 May 2019,  it has completed the dissolution of its joint venture with AquaChile. The group said the dissolution has created an opportunity for it to take control of a land based salmon breeding facility belonging to the JV and the company is in the process of conducting due diligence on the facilities, with transfer of ownership expected to take place in the coming weeks.

Brainworks Limited (JSE:BRA), which owns hotels, property and logistics businesses in Zimbabwe has appointed Peter Saungweme as interim CEO of Brainworks Capital following the resignation of Brett Childs. The company said Saungweme was appointed on June 5 as the company believes that the business would benefit by transitioning to a Zimbabwe-based CEO.

Norman Broadbent Plc (LON:NBB) announced that its group chief executive officer, Mike Brennan has been selected as a winner and recipient of CEO Today Magazine’s 2019 European Business Award.

TALLY Ltd., the group which changed its name from Lionsgold Limited following an EGM at the end of April, has said access to its self-titled physical gold challenger currency is now live on Apple’s App Store and the Google Play Store. Each Tally is a milligram of gold directly owned by the customer and utilised in their individual banking account and debit card.


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