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Proactive snapshot: Eland Oil & Gas, Ixico, Rockfire Resources

A look at some of the top stories from the Proactive newswire on Tuesday

Pile of newspapers

Brain scan specialist Ixico PLC (LON:IXI) will post its first annual underlying profit since it listed after revenues in its latest year surged 40%.

Open Orphan Plc (LON:ORPH) said it has taken an “exciting step” towards the completion of it Genomic Health Data Platform following a tie-up with a firm called Empiric Logic.

Frontier IP Group PLC (LON:FIPP) is to take a 43% stake in Elute Intelligence Holdings, a software firm specialising in plagiarism and copyright infringement detection.

Sareum Holdings PLC (LON:SAR) is aiming for in-human trials by the end of 2020 for its novel molecules targeting autoimmune diseases and cancer.

88 Energy Ltd (LON:88E, ASX:88E) told investors it has executed a rig contract for the planned Charlie-1 appraisal well which has an envisaged February 2020 spud date. The Alaska focussed explorer said in a statement that its agreed farm-out transaction with Premier Oil PLC (LON:PMO) is expected to complete shortly.

Eland Oil & Gas PLC (LON:ELA) has struck a deal to sell the company to Nigeria’s Seplat Petroleum for £382mln (166p per share) in cash. AIM-quoted Eland recommended the proposal which was pitched at a 28.5% premium to Monday’s closing price of 129.2p.

Capital Drilling Limited (LON:CAPD) highlighted a 6.1% increase in quarter-on-quarter revenue as it released its third quarter update and told investors it is trading in-line with expectations. The rig contractor, in a statement, said it is “well on track” to hit full year revenue guidance of US$110mln to US$120mln.

Alba Mineral Resources plc’s (LON:ALBA) Horse Hill stablemate UK Oil & Gas PLC (LON:UKOG) revealed that drilling is now proceeding confidently after a coring programme has identified the “sweet spot” in the Portland reservoir.

Ariana Resources PLC (LON:AAU) has had its suite of licences in one of the most sought after gold exploration areas of Turkey renewed for another five years.

Rockfire Resources PLC (LON:ROCK) said it recently completed reprocessing of historical geophysical data from its 100%-owned Plateau Gold Deposit in Queensland, Australia which has highlighted a number of large chargeable responses which will be tested during the group’s current drilling program.

Gold production at Anglo Asian Mining PLC’s (LON:AAZ) Gedabek project in Azerbaijan rose by 3% in the quarter to 30 September 2019 to 20,227 gold equivalent ounces. That took production year-to-date to 60,122 gold equivalent ounces, which was slightly lower than the 61,761 gold equivalent ounces produced in the corresponding period in 2018. 

Kavango Resources PLC (LON:KAV) has begun drilling at the first of its three targets on the Kalahari Suture Zone in Botswana. The objective of the drilling is to verify the company's geological model, aimed at discovering a Norilsk-style magmatic sulphide ore body.

Chaarat Gold Holdings Ltd LON:CGH) has hit more gold in its ongoing drilling campaign at the Tulkubash project in the Kyrgyz Republic. The Tulkubash project will become the company's second operating gold mine, scheduled to commence production in 2021. 

Katoro Gold PLC (LON:KAT) has received US$47,000 in shares from Lake Victoria Gold in return for extending the payment date for its Imweru gold licence in Tanzania until the end of October.  LWG, a private Australian group, has agreed to buy Imweru for US$1mln through staged payments.

Crossword Cybersecurity PLC (LON:CCS) has signed a deal with defence giant Leonardo, which will use the Rizikon Assurance platform at its cyber consultancy to augment its risk assessment and risk management tools.

Haydale Graphene Industries PLC (LON:HAYD), a specialist in the use of graphene and other composites, has bagged an order for ceramic blanks worth US$700,000.

Accesso Technology Group PLC (LON:ACSO) is continuing discussions over its possible sale with a number of interested parties, while also drawing up a strategic plan to realign the business.

Tower Resources PLC (LON:TRP) has unveiled a financing which will see the extension and restructuring of its US$750,000 bridging loan facility of US$750,000 and gross proceeds of approximately £1,500,000 raised through a placing and subscription to provide it with working capital.

Ncondezi Energy Ltd (LON:NCCL) has appointed an interim chief operating officer (COO) to lead technical processes at its Tete coal power project in Mozambique.

Gaming Realms PLC (LON:GMR) has appointed Sportingbet founder Mark Blandford as a non-executive director with immediate effect.

A senior member of Verona Pharma PLC’s (LON:VRP, NASDAQ:VRNA) scientific team will expand on symptom data from a phase IIb clinical trial of its inhaled drug for chronic obstructive pulmonary disease (COPD).

PCG Entertainment PLC (LON:PCGE) said it has raised the funding for working capital requirements and that due diligence period has found "no adverse legal, regulatory or financial materials" in relation to Align Research. PCGE said that non-executive director Robert McDowall has resigned form the board.


 

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