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Proactive news snapshot: 88 Energy, Bases Resources, Blue Star Capital, VR Education …

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

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88 Energy Ltd (LON:88E) told investors it has finalised its farm-out deal with Premier Oil PLC (LON:PMO) and said that plans for the Charlie-1 appraisal well have now been approved by the new partners. “The plan of operations is one of the key major permits required for drilling,” the company said in a statement. “The final major permit is scheduled for submission in December, with approval expected in January ahead of the scheduled February spud date.”

Base Resources PLC (LON:BSE) (ASX:BSE) has compiled an ore reserve for the area that will form the “foundation” of its Toliara Project in Madagascar. Ranobe is estimated to be host to 586mln tonnes (Mt) of ore grading 6.5% heavy mineral, or 38Mt in situ. Included in the count were ilmenite, rutile, leucoxene and zircon. A total of 347Mt of ore was in the higher confidence 'proved' category

Blue Star Capital PLC (LON:BLU) has flagged progress by digital payments specialist SatoshiPay, a company in which the tech investor has a 27.9% holding. Back at the end of January SatoshiPay announced it would work with German digital media giant Axel Springer on a product-driven by blockchain technology that would enable users to pay for content with the digital SatoshiPay Wallet. SatoshiPay has now launched its first service with Axel Springer; it is the Tatorte website, which provides a real-time map with police reports in Germany.

Thor Mining PLC (LON:THR) expects assay results from its recent drilling campaign at Bonya next month with a full resource estimate in January. The Aussie junior has a 40% stake in the Bonya deposit that lies near to its flagship Molyhil tungsten/molybdenum project in Australia's Northern Territory and is seen as a source of ore to increase that mine’s life and resources. Executive chairman Mick Billing said: "Drill results have so far been very pleasing with higher than expected grades at White Violet.

VR Education Holdings PLC (LON:VRE) has said it will launch its latest showcase experience, physics-based flight simulator Shuttle Commander on PlayStation on 3 December. Shuttle Commander will offer users the chance to take control of NASA's Discovery space shuttle in virtual reality (VR) and land it at several real-world sites such as Kennedy Space Centre, White Sands Air Force Base and Edwards Air Force Base.

Investors in Alba Mineral Resources PLC (LON:ALBA) can now look forward to the start of production testing for the new horizontal well at the Horse Hill project. In a statement today it was revealed that the horizontal well is now completed. The well has accessed exposure to 2,500 feet in the conventional Portland oil reservoir. It has now been suspended as a future oil production well, starting with an extended well testing programme.

Alliance Pharma PLC (LON:APH) is handing back the UK and EU licensing rights to Xonvea, a treatment for pregnant women with nausea. Some £2mln in milestone payments made to Duchesnay of Canada will be returned, starting with £250,000 before the end of the year. Inventory provisions and “associated restructuring costs” will amount to £1.9mln.

Union Jack Oil PLC (LON:UJO) has raised £5mln in a share placing as the company seeks to focus attention on its flagship West Newton project. In the equity fundraise, arranged by broker SP Angel, the company is selling 3.3bn new shares at a price of 0.15p each. The proceeds are earmarked for West Newton which Union Jack describes as a “highly accretive project”.

Motif Bio PLC (LON:MTFB) said that, further to the announcement yesterday of the company's intention to voluntarily delist its American Depository Shares (ADSs), it has given notice on November 26, 2019 to The Bank of New York Mellon to terminate its American Depositary Shares Program and Warrant Agent Agreement.  The Depositary will contact ADS holders in due course with additional information on this process, including those necessary and proper actions to be executed.

Verona Pharma PLC (LON:VRP) (NASDAQ:VRNA), a biopharmaceutical company focused on respiratory diseases, announced that, on November 26, 2019, it granted 500,000 options to purchase ordinary shares of £0.05 each to its CEO, Dr. Jan-Anders Karlsson, under and in accordance with its 2017 Incentive Award Plan. The group said the options have an exercise price of £0.445 per ordinary share, and will vest over two different periods following the grant date.

Anglo Pacific Group PLC (LON:APF), a global natural resources royalty company listed on both the London Stock Exchange and the Toronto Stock Exchange, was a joint winner of the Best Alternative Finance Provider of the Year award at the Mines and Money gala dinner held on Tuesday evening.

Alien Metals Ltd (LON:UFO) announced that all the resolutions proposed at the company’s Annual General Meeting, which was held in London on Wednesday, were passed unanimously on a show of hands.

Impax Asset Management Group PLC (LON:IPX) expects to announce its results for the year ended 30 September 2019 on Wednesday 4 December 2019.

Rockfire Resources PLC (LON:ROCK), the gold and base metal-focused resource company, announced that an updated version of its corporate presentation is now available on the company's website.

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