Proactive news snapshot: Sirius Minerals, Anglo African Oil & Gas, MaxCyte, Rockfire 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

Anglo American plc (LON:AAL) today confirmed it has now made a formal offer to acquire Sirius Minerals PLC (LON:SXX), priced at 5.5p per share, and, the offer has been recommended by the Sirius board. In a stock market statement, the multinational mining major said that the proposed transaction values Sirius at £404.9mln.

Anglo African Oil & Gas PLC (LON:AAOG) has given consent to the sale of shares held by Riverfort and YA in transactions worth £420,205. The transactions will result in the company receiving £361,376 from the pair of investment groups. AAOG told investors that the proceeds will be applied to its creditors, and, alongside separate £250,000 proceeds received from Zenith Energy the company now expects it will have sufficient working capital for the next six months “absent of any unforeseen legitimate claims”.

MaxCyte Inc’s (LON:MXCT) chief executive Doug Doerfler said the life sciences group’s outlook for the current year and beyond was “exceptionally positive” after its full-year revenues exceeded market expectations. The company is at the cutting edge of cell-therapy and immuno-oncology, with commercial deals worth more than US$650mln in milestone payments.

Rockfire Resources PLC (LON: ROCK) has started a new round of drilling at the Plateau gold project in Queensland. The aim is to expand on gold mineralisation encountered recently in earlier drilling, in particular at hole BPL025, where an intercept of 177 metres grading 0.5 grams per tonne gold was returned.

IQ-AI Limited (LON:IQAI) said Korea’s regulator has cleared the company’s StoneChecker Software for sale in the country. The sign-off by the KFDA means the local distributor’s marketing plans can now be “fully implemented”.

88 Energy PLC (LON:88E) says it is on schedule to spud the Charlie-1 well with contracting and logistical work proceeding as planned. Approval to drill has been submitted and is expected this month, with drilling scheduled to start in February and flow testing to conclude in April. Charlie-1 will intersect seven stacked prospects, four of which are considered appraisal targets.

Touchstone Exploration Inc (LON:TXP) told investors that the first stage of testing at the Cascadura-1ST1 well, at the Ortoire exploration project in Trinidad, has been suspended so the company can source alternative equipment capable of handling higher volumes of both natural gas and liquids. The company, in a statement, said that significant pressures and natural gas volumes were encountered upon commencement of ‘clean up’ flows.

Argo Blockchain PLC (LON:ARB) has reported a ten-fold increase in revenues for 2019 as it concluded its first full year of operations. The cryptocurrency mining firm said in a trading update that it expects revenues for the year ended 31 December to be £.8.5mln, up from £760,000 in 2018.

Scancell Holdings PLC (LON:SCLP) shares surged on Monday as it signed the third collaboration agreement for its AvidiMab technology with a US antibody company. The AIM-listed firm said the research deal will see both groups assess monoclonal antibodies (mAbs) targeting tumour-associated glycans (TaGs), including those that have been enhanced by the AvidiMab platform.

Hydrogen power generation technology company AFC Energy PLC (LON:AFC), has raised £1m by issuing shares to a single shareholder. The shareholder subscribed for 5.88mln shares at 17p a pop. AFC Energy shares closed at 21.8p on Friday. The funds raised have been earmarked to pay part of the cost of the manufacture of AFC Energy’s largest electrical vehicle charger unit with a nameplate capacity of 160 kilowatts (kW), which will support demonstration and commercial activity this year.

Echo Energy PLC (LON:ECHO) told investors that drilling and wireline logging is now complete for the Campo Limite exploration well (CLix-1001), and, amid encouraging results the explorer and its partners will now move the well into testing. The company, in a statement, revealed the CLix-1001 encountered the targeted Springhill formation, at a depth of 2,124 metres, and, wireline logging has highlighted a zone of interest which coincides with elevated gas shows.

Revenues generated by the royalty portfolio held by Anglo Pacific Group PLC (LON:APF)(TSE:APY) hit £57.6mln in 2019, a 20% increase on the revenue generated in 2018, and another record. Five years earlier the portfolio generated just £3.4mln. Significant volume increases at the Kestrel coal mine in Australia were central to the performance.

Tekcapital PLC’s (LON:TEK) portfolio firm, Lucyd, is to launch the third edition of its Loud range of Bluetooth-enabled glasses on 27 January. The prescription compatible eyewear allows wearers to make calls and listen to music through their glasses as well as use smartphone functions such as voice assistants, ride-hailing and money transfers.

The Vaccine Group, one of the companies backed by Frontier IP Group PLC (LON:FIPP), has raised £680,000 in its first equity funding round. The intellectual property commercialisation company said the fundraising values the University of Plymouth spin-off at £9.5mln, thus giving an assumed value of £1.6mln to Frontier’s 17% stake.

Metal Tiger PLC’s (LON:MTR) Botswana-based subsidary has won government approval for a pair of acquisitions that will add a combined 10 exploration concessions in the country. Botswana mining ministry has granted approval for Kalahari Metals Limited (KML), in which Metal Tiger owns a 59.8% stake, to take ownership of Kitlanya Limited and a 51% stake in Triprop Holdings.

Open Orphan PLC (LON:ORPH) said it expects to extract £3.1mln of “operational synergies” this year from the merger with hVIVO PLC (LON:HVO), as shares began trading again after the deal was completed. The company has proposed a £5mln fundraising, of which up to half is being underwritten by executive chairman Cathal Friel, designed to provide the stronger balance sheet to help hVIVO to convert its pipeline of proposals.

Directa Plus PLC (LON:DCTA), the graphene nanoplatelets-based products developer, has signed a research & development (R&D) agreement with Comerio Ercole, the Italian rubber products specialist. The two companies will pursue joint research and development projects using Directa Plus’s G+ technology to develop products in the rubber and tyres, plastic and non-woven materials industries.

ADES International Holding PLC (LON:ADES), a leading oil & gas drilling and production services provider in the Middle East and North Africa, announced that it has extended the contract for ADMARINE 261 in Saudi Arabia. The group said the performance of the high-efficiency jack-up rig ADMARINE 261 has resulted in a contract extension of one-year tenor, which will be effective upon the expiry of the current contract in February 2020, with the same daily rates.

Ergomed PLC (LON:ERGO), a company focused on providing specialised services to the pharmaceutical industry, confirmed that, as announced on 2 December 2019, Lewis Cameron today commenced his role as the group’s chief operating officer and his appointment to the board has been effected.

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 that it has received a notice of exercise in respect of certain pre-existing warrants to subscribe for 10,000,000 new ordinary shares at a price of 0.5p each. The group said the exercise of these warrants amounts to a cash subscription of £50,000.

Three of the directors of W Resources PLC (AIM:WRES) have converted short-term loans provided to the company in November into shares. The conversion price was 0.307p per share, the volume-weighted average for the week ended 10 January 2020.

Chaarat Gold Holdings Ltd (LON:CGH) has issued just over 1.3mln new ordinary shares of US$0.01 each in settlement of loan agreement fees and following the exercise of warrants. The loan agreement was with Labro, a company in which Martin Andersson, the executive chairman of Chaarat, is directly beneficially interested. Following the issue Labro  holds 165 mln shares in Chaarat, representing 35.15% of the company.

Eden Research plc (LON:EDEN), the AIM-listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries, today announced the appointment of Hawthorn Advisors as its financial and corporate public relations adviser with immediate effect.

IronRidge Resources Limited (LON:IRR) advised investors that it has issued 854,643 depositary interests of no par value each to Geodrill Limited, as partial satisfaction of invoiced costs to date associated with drilling at the company's projects in Ghana and Cote d'Ivoire.

Location Sciences (LON:LSAI), the leading location data verification company, said it has agreed to issue and allot 6,153,840 new ordinary shares in the company in order to settle a debt with one of its suppliers. The group said the shares, which will rank pari passu with the company's existing ordinary shares, were issued at a price of 1.25p each.

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