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Proactive snapshot: Futura Medical, Echo Energy, Bluejay Mining

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

Futura Medical PLC -

Futura Medical PLC (LON:FUM) said it expects to have the headline data from its erectile dysfunction drug (ED) by the end of the year after completing dosing for the European phase III clinical trial. Chief executive James Barder said the release of healding findings from the FM57 study would be a “key value inflection point” for the company.

Respiratory specialist Circassia Pharmaceuticals PLC (LON:CIR) will later on Monday announce the US launch of a new product for chronic obstructive pulmonary disease (COPD), describing the landmark as a “major strategic milestone”.

Gfinity PLC (LON:GFIN) has reduced its losses for 2019 after revenues at the esports tournament operator jumped by over 80%.

Ashley House PLC (LON:ASH), the supported care housing firm, has sold its half-share in Morgan Ashley Care Developments to its joint venture partner, Morgan Sindall.

Angling Direct PLC (LON:ANG) has opened its thirty-second store on Saturday and says more openings are planned in the coming months.

Venture Capital Group Sure Ventures PLC (LON:SURE) expects the importance of Immotion Group PLC (LON:IMMO) to its net asset value to reduce as its portfolio starts to mature.

Investment company Adamas Finance Asia Limited (LON:ADAM) is to acquire a 40% interest in Infinity TNP, a newly formed subsidiary of Infinity Capital Group (ICG).

Woodbois Ltd (LON:WBI) said converting all the preference shares in its Argento subsidiary into convertible bonds will increase transparency and enable it to "take advantage of the many opportunities ahead".

Integumen PLC’s (LON:SKIN) wholly-owned subsidiary Rinocloud has won the TechLeaders19 IT award, which highlights the most innovative projects in the Irish tech sector.

Echo Energy PLC (LON:ECHO) is set to expand its footprint in Argentina with the acquisition of the Santa Cruz Sur asset package which includes production. It will pay US$7mln in cash, plus US$1.5mln worth of shares, for the acquisition supported by an equity raise and new convertible debt.

Block Energy PLC (LON:BLOE) has updated on its operations for the WR-38Z well at the West Rustavi field where it has completed a critical phase of the sidetrack programme. 

Ncondezi Energy Ltd (LON:NCCL) is progressing towards “key” contracts after its strategic partner China Machinery Engineering Corporation completed a site visit to its coal project in Mozambique.

Diversified Gas & Oil PLC (AIM: DGOC) has appointed Sandy Stash as an additional independent non-executive director as it prepares for a move to the premium segment of the main market of the London Stock Exchange. Stash is currently executive vice president and executive advisor at Tullow Oil, following a career with ARCO, Anaconda, TNK-BP and BP.

Nu-Oil and Gas PLC (LON:NUOG) has returned the equity it held in Enegi Oil Inc to Enegi with immediate effect, as it continues to execute the restructuring plan laid out earlier this month.

W Resources PLC (LON:WRES) has fed the first ore to the new concentrator plant at its La Parrilla project in Spain.

Bluejay Mining PLC (LON:JAY) has applied for an additional licence to expand its Kangerluarsuk zinc-lead-silver project in Greenland by more than five-fold.

Chaarat Gold Holdings Ltd (LON:CGH) said its newly acquired Kapan mine in Armenia is reaching its full potential and allowing the company to take advantage of the higher gold price.

Landore Resources Limited (LON:LND) is expecting an increased gold resource from its BAM deposit at the Junior Lake project in Ontario, Canada, following a drilling campaign at the site this year.

Arc Minerals Limited (LON:ARCM) said it has issued 6.5mln shares to its drilling contractor in Zambia under the first part of its drill for equity programme, with a price of roughly 3p per share representing consideration of £194,518 in part-settlement of the company's share of drilling costs incurred in the two months July and August 2019, with the £31,123 balance payable in cash. The drilling shares are subject to certain trading restrictions to the volume that can be traded.

Ariana Resources PLC (LON:AAU) has enjoyed one its strongest quarters ever for revenues generated. Production from the Kiziltepe mine in Turkey was just shy of 7,000oz and combined with a very strong gold price boosted sales said managing director Karim Sener.

Horizonte Minerals (LON:HZM) has completed a US$25mln royalty transaction with Orion Mine Finance and drawn down the funds.

Greatland Gold PLC (LON:GGP) has confirmed the presence of gold in the surface soil of its wholly-owned Panorama project in the Pilbara region of Western Australia.

Bacanora Lithium Group PLC (LON:BCN) said that it now has a “clear line of sight” towards construction at the Sonora lithium project in Mexico. Operating losses fell by a quarter to US$8mln in the year to June, with its cash balance at US$14.8mln.

Open Orphan Plc (LON:ORPH) will present at The London Investor Show on Friday 25 October, where there will be an opportunity for existing and potential shareholders to discuss the company's business plans.

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