Proactive news snapshot: Erris Resources, Immotion Group, Franchise Brands, Ironridge 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

Erris Resources PLC (LON:ERIS) is set to kick off work to take the Loch Tay Gold Project to an inferred resource of 250,000 ounces of the yellow metal having concluded due diligence work on the project. In doing this it will earn an 80% share of the Scots prospect, which is around 27 miles from the permitted Cononish mine, owned by ScotGold Resources Ltd. (LON:SGZ) that also sits on the Grampian gold belt.

Immotion Group PLC (LON:IMMO) has confirmed the installation of 93 of its virtual reality (VR) headsets in the first quarter of 2020 after signing contracts with a number of attractions and venues. The firm, which specialises in ‘out of home’ VR experiences, said it has signed contacts in the past week with the London Eye, four aquariums and a European zoo and has agreed terms with a further nine aquariums and five entertainment sites.

Franchise Brands PLC’s (LON:FRAN) results for 2019 will show significant growth over the previous year and at least match market expectations for £40.6mln of sales and underlying profits of £5.2mln. Drain maintenance group Metro Rod led the improvement with 14% higher sales compared with 10% growth a year earlier, while recent acquisition Willow Pumps has integrated well and broadened the range Metro Rod can offer. Trading in 2020 had also started well, the AIM-listed group said.

Ironridge Resources Limited (LON:IRR) has hailed 'exceptional' assay results from first drilling at the Zaranou gold project in the Ivory Coast.  In a shallow drilling programme, the junior hit grades as high as 23 grammes per tonne (g/t) of gold, while one hole showed gold at 3.39 g/t over a width of 22 metres (m). Len Kolff, Ironridge's chief operating officer said: "Assay results received to date are exceptional for a first-pass exploration drill programme and indicate potential for a significant gold discovery, notwithstanding that only such a small portion of the large target footprint has been drill tested to date."

88 Energy Ltd (LON:88E) has told investors that the preparation for the Charlie-1 well is “progressing to plan” with spudding expected soon. In a statement, he Alaska-focused explorer said that ice road construction is underway and its base layer is presently about 25%. A permit to drill has been submitted, with approval expected in January.

Fuel derived from EQTEC PLC’s (LON:EQT) waste-to-energy technology demonstration plant in France has been approved for testing by a “world class” local research laboratory. LERMAB, the University of Lorraine’s research laboratory on wood material, will carry out tests using refuse-derived fuel (RDF) produced at the plant, which was built by EQTEC in collaboration with the university.

Scotgold Resources Limited (LON:SGZ) updated investors on exploration activities at the Grampian project in the Scottish Highlands – which includes the Inverchorachan and Beinn Udlaidh exploration areas - where geologists have continued to use 'ionic leach' methods on sample material. At Inverchorachan a total of 177 samples have been collected along 500 metres, extending the prospect to the south and southwest - and the anomaly remains open along strike. At the Beinn Udlaidh prospect a total of 599 samples were collected and analysed, yielding values of 9.06 parts per billion (ppb) gold and 89.9ppb silver across a strike length of 2.4 kilometres. Another anomaly was also observed to the southwest which is seen as a possible extension to the main Beinn Udlaidh vein.

Amryt Pharma PLC (LON:AMYT) will have a significant presence at a London conference for physicians and companies involved in treating a skin condition. It will provide information on AP101, its phase III drug for the condition epidermolysis bullosa (EB) on January 21. On the same day, Amryt scientist Dr Lara Cutlar has been invited by the event organisers to present a talk on non-viral gene therapy delivery mechanisms.

Tower Resources PLC (LON:TRP) told investors that Cameroon authorities have communicated that the government has decided to approve the company’s application to extend the initial exploration period for the Thali licence. Previously the initial exploration period had an expiration date of 15 September 2019, and, last year the company requested a twelve-month extension.

Amur Minerals Corporation (LON:AMC) told investors that it has now completed the baseline environmental assessment (BLEA) for the Kun Manie nickel-copper project. The document has now been filed and approved by the necessary Russian Federation agencies, it added.

Quadrise Fuels International PLC (LON:QFI) has unveiled plans to reshuffle its board as it continues a transition towards commercialisation. The specialist fuel firm said that from 1 February, its current chief operating officer Jason Miles will become chief executive, while head of projects Mark Whittle will take over as COO.

Avation PLC (LON:AVAP) the commercial passenger aircraft leasing company, told investors that, further to its announcement on 9 January 2020, it has delivered the second of two Airbus A321 aircraft to Vietjet Air under a long term operating lease. In a statement, the firm said the aircraft - which are being transitioned from a prior operator - has completed calendar airframe maintenance checks, been configured for operations by VietJet Air and has been put into Vietjet Air livery.

Oracle Power PLC (LON:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in Block VI of the Thar desert in the south-east of the Sindh Province of Pakistan, announced an exercise of warrants which has amounted to a cash subscription of £205,811 in aggregate. The firm said it received notices from shareholders for the exercise of certain pre-existing warrants to subscribe for in aggregate 44,162,192 new ordinary shares - 38,162,192 issued at a price of 0.5p each, and 6,000,000 issued at a price of 0.25p per share.

NQ Minerals PLC (LON:NQMI) (OTCMKTS:NQMLF), the NEX-listed base and precious metals producer from its Hellyer Gold Mine in Tasmania Australia, announced that it has raised gross proceeds of £310,903 via an issue of 4,441,471 new ordinary shares at 7p each with a UK based Institutional investor for general working capital purposes.

Rosslyn Data Technologies PLC (LON:RDT) said it has been informed that Hugh Cox, its founder & chief data officer, on 14 January 2020 bought 76,923 ordinary shares in the company at a price of 5.2p per share. Following this transaction, the group noted, Cox has a total interest of 11,253,034 ordinary shares, representing approximately 5.84% of the company's issued share capital.Rosslyn Data Technologies PLC (LON:RDT) said it has been informed that Hugh Cox, its founder & chief data officer, on 14 January 2020 bought 76,923 ordinary shares in the company at a price of 5.2p per share. Following this transaction, the group noted, Cox has a total interest of 11,253,034 ordinary shares, representing approximately 5.84% of the company's issued share capital.

genedrive PLC (LON:GDR), the near-patient molecular diagnostics company, has announced that it will release its interim results for the six months ended 31 December 2019 on Tuesday, 4 February 2020.

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