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Proactive news snapshot: Rockfire Resources, Genedrive, Collagen Solutions, Power Metal Resources …

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

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Your daily round-up from the world of Proactive

Rockfire Resources PLC (LON:ROCK) shares jumped after it unearthed good grades of gold near the surface at a new area of its Plateau gold deposit in Queensland, Australia. Drilling at a new breccia zone, where rocks are composed of broken fragments and had been missed by previous explorers, found six metres at 4.1 grammes of gold per tonne of rock (g/t Au) some 27 metres below the surface.

Genedrive PLC’s (LON:GDR) shares surged on Tuesday as the company achieved “high clinical accuracy” in a recent trial of its screening test designed to reduce the risk of antibiotic-induced hearing loss in infants. The diagnostics firm said the test had achieved a diagnostic sensitivity of 100% and a specificity of 100% across 303 samples and was unaffected by common bacteria and interfering substances that may be found in a patient.

Collagen Solutions PLC (LON:COS) said it was investing in "people, capabilities and technology” as it delivered its third consecutive half of double-digit top-line growth. Presenting its interim results, it explained it had been affected by capacity constraints within the collagen manufacturing operation. It was also held back by the timing of delivery of development contract milestones. Against this backdrop, the biomaterials specialist grew revenues by 14% to £2.23mln in the six months ended September 30. Tissue sales more than doubled.

Power Metal Resources PLC (LON:POW) has inked a deal giving it access to the Alamo project in Arizona, adding geographic diversity to the company’s African portfolio. The Alamo project comprises some 340 acres see as being prospective for gold, with native gold nuggets observed near-surface in multiple locations. Additionally, the region is noted to be prospective for precious and base metals. With the agreement, the company has secured the right to acquire a 60% interest in the project.

Erris Resources PLC (LON:ERIS) shares fell on news Centerra Gold has terminated its strategic alliance with the group after almost four years. The partners had been in a joint venture on exploration ground in Sweden owned by Erris. "Erris Resources is grateful for the consulting and exploration partnership with Centerra Gold over the past four years, which from our experience is a typical duration for such joint ventures,” said Erris chief executive Anton du Plessis.

Arc Minerals Limited (LON:ARC) has acquired a further 5% interest in Zaco Limited from Mumena Mushinge, a non-executive director of Arc, for a total cash consideration of US$37,500, increasing Arc's interest in Zaco to 52.5% from 47.5%. Nick von Schirnding, Arc’s executive chairman stated: "I am very pleased that we have increased our stake in Zaco to 52.5% giving us a controlling interest in this exciting prospect, which contains a number of anomalies which we are drilling."

BB Healthcare Trust PLC (LON:BBH) said it aims to target a dividend each financial year equal to 3.5% of its Net Asset Value as at the last day of the Company's preceding financial year. For the financial year ended 30 November 2019, the company paid an interim dividend of 2.425p per ordinary share in August 2019 and in due course is intending to propose a final dividend of 2.425p per ordinary share. For the financial year ending 30 November 2020, the target total dividend will be 5.0p per ordinary share, and the firm intends to declare an interim dividend of 2.5p per share, and a final dividend of 2.5p per share for the financial year ending 30 November 2020.

KRM22 PLC (LON:KRM) the technology and software investment company that focuses on risk management for capital markets, today announced the appointment of Steve Sparke as a non-executive director of the company. The group said Sparke will replace Matt Reed, its independent non-executive director, who is stepping down with immediate effect to focus on other business commitments. KRM22 noted that Sparke has over 30 years' experience in the Exchange Traded Derivatives and Commodity industry and was recently COO of Marex Spectron.

ADES International Holding PLC (LON:ADES) said it was notified on 2 December 2019 that its CEO, Dr. Mohamed Farouk Abdelkhalek purchased 600 of the company's ordinary shares at average price of US$ 12.283 each. Following this transaction, the group noted that Abdelkhalek has direct and indirect beneficial interests in 2,075,619 shares representing 4.75 % of the company's issued share capital.

ImmuPharma PLC (LON:IMM), a specialist drug discovery and development company, announced that Dr Tim Franklin, its commercial advisor, will be presenting at the Biotech Showcase 2020, to be held between 13-15 January 2020, at the Hilton, San Francisco Union Square. Commenting on the event, Dimitri Dimitrou, ImmuPharma CEO said: "We are delighted that Dr Franklin, who was an integral part of the ImmuPharma team involved in the Avion negotiations, will be representing ImmuPharma and presenting at this prestigious Biotech Showcase. This will be a great opportunity to refocus the industry's and investors' minds on the significant potential within ImmuPharma's pipeline."

Greatland Gold PLC (LON:GGP), the precious and base metals exploration and development company, announced that at its Annual General Meeting, held earlier on Tuesday, all resolutions were duly passed.

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