logo-loader
viewANGLE PLC

Proactive news snapshot: ANGLE, Ceres Power, Ariana Resources, United Oil & Gas, Regency Mines …

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

Newspapers and coffee cup
Your daily round-up from the world of Proactive

ANGLE PLC (LON:AGL) has predicted that it will receive regulatory clearance for its Parsortix cancer test by the third quarter of this year following a successful face-to-face meeting with the US Food and Drug Administration (FDA). The AIM-listed firm said it is now preparing for a full De Novo submission to the FDA, a process that allows the regulator to approve medical devices that have no comparative already on the market.

Ceres Power Holdings PLC (LON:CWR) shares rose on Wednesday as the group confirmed that German engineering and technology giant Bosch has increased its stake in the company to around 18% from around 4% following a share subscription, netting the fuel cell firm £38mln. The AIM-listed group said Bosch acquired the additional stake through a subscription for11.9mln new shares, a 7.7% holding, with the balance coming from the purchase of existing shares. Both the new shares being issued and the shares being purchased from existing shareholders were effected at a price of 320p per ordinary share.

Ariana Resources PLC (LON:AAU) has hailed “exceptional” results from a resources sampling programme at the Tavsan gold project in Turkey, part of its Red Rabbit joint venture. Kerim Sener, managing director of the AIM-listed firm, said the results demonstrated that the sampled areas of the project were “typically higher grade” than the overall resource, suggesting that there was an opportunity to “identify several rich zones of “structurally-controlled mineralisation within the orebody as a whole”.

United Oil & Gas PLC (LON:UOG) has updated investors on the ASH-2 well at the Abu Sennan field - part of a package of assets to be acquired from Rockhopper PLC (LON:ROK) - which came online earlier this month. In a statement. United noted that ASH-2 was drilled to a depth of 4,030 metres into the Alem El Buieb (AEB) formation and was completed in two reservoir intervals, each testing at 7,027 barrels of oil equivalent per day (boepd) and 3,851 boepd respectively.

Regency Mines PLC (LON:RGM) has updated investors on the first substantial exploration activities to take place on the company’s flagship Mambare project since 2012. Line cutting work has now taken place and a ground-penetrating radar (GPR) exploration programme is presently underway, with the aim of surveying some 200 kilometres.

Yellow Cake PLC (LON:YCA), a specialist company operating in the uranium sector with a view to holding physical uranium for the long term, said it to initiate a share buyback programme to purchase up to US$2mln of its ordinary shares over three months, commencing on 22 January 2020. The group said its board notes that the company's shares continue to trade at a material discount to its underlying net asset value hence the decision to implement a share buyback programme as a means of effectively acquiring exposure to uranium at a discount to the commodity spot price. It said the programme forms part of the group's broader strategy to deliver value to its shareholders.

Alliance Pharma PLC (LON:APH) has revealed that its 2019 underlying profit was in line with expectations after turnover grew 16% last year, while strong cash generation saw a significant fall in the company’s net debt. The group, which has a number of international star medicine brands as well as important regional product lines, weighed in with what it described as “see-through revenues” of £144.3mln.

AFC Energy PLC (LON:AFC) has raised a further £1mln via a share placing to help fund the commercial development of its electric vehicle (EV) charging system, days after getting the same amount from a share subscription. On Monday, the hydrogen power tech group announced that a single shareholder had subscribed for 5.88mln shares at 17p a pop. In a statement on Wednesday, the group said that, following that successful subscription, it received an expression of interest on Tuesday for a further £1mln investment, on similar terms, from a London institutional investor who attended the company's EV Charging launch event in December 2019.

Bango PLC (LON:BGO) has promoted Paul Larbey to chief executive officer as Ray Anderson steps up to become executive chair of the mobile payments specialist. On Wednesday David Sear stepped down as chairman after more nine years in the role, with the company saying this was in line with corporate governance best practice, with the board still containing three non-executive directors who joined during 2019.

SDX Energy PLC (LON:SDX) described 2019 as a successful year as it provided a trading update ahead of its financial results, revealing a 12% rise in production. For the year, production averaged 4,020 barrels of oil equivalent per day (boepd) and the company noted that, at asset level, it had either exceeded or reached the upper end of guidance. Looking to 2020, the company’s guidance is pitched at 6,750 to 7,000 boepd, 68-74% higher, as operations continue to ramp-up.

Asiamet Resources Ltd. (LON:ARS) said it intends to relocate its corporate head office function to Jakarta, Indonesia from Melbourne, Australia commencing immediately following on from a review of its operations. In a statement, the group noted: “While there are a number of drivers for the relocation, the Asiamet Board considers that a significant increase in corporate and project activities relating to ongoing funding and development of the Company's asset portfolio, in particular the nearer term BKM Copper Project, is best served by moving the Corporate head office to Jakarta.”

Europa Metals Ltd (LON:EUZ) is to step back from further drilling at the Toral base metal project for the time being and analyse the data accumulated from recent exploration. Once assays from the final two holes in the current drill programme come back Europa will work on metallurgical testing, hydrology and geotechnical modelling.

Oriole Resources PLC (LON:ORR) has revealed positive initial results from its 2020 exploration campaign at the Bibemi gold project in Cameroon. Mapping work, at the 90% owned project, has shown a continuation of mineralisation at the main Bakassi area adding 1.3 kilometres to the known strike which now exceeds 5 kilometres. Preparations are underway for a drill programme of 1,500 metres.

Pembridge Resources PLC (LON:PERE) has stepped up exploration at the Minto copper mine in Yukon, Canada with a sizeable drilling campaign now underway following an aerial magnetic (MAG) survey over the site. The first phase of drilling will see 53 holes drilled over 14,000m in the already identified deposits at Copper Keel West, Copper Keel North, Copper Keel South and Minto East II. Pembridge wants to add to and expand existing reserves through the fully-funded C$2.1mln programme.

88 Energy Limited (LON:88E) (ASX:88E) said it is considering a potential capital raising which has led it to place a trading halt on its shares on the Australian Securities Exchange. In a brief statement, the energy group said it is currently intended that any such capital raising will utilise the company's existing authorities and will not be subject to shareholder approval.

NQ Minerals PLC (LON:NQMI) (OTCMKTS:NQMLF) is looking to investors across the Atlantic and has retained the services of Ortoli Rosenstadt LLP, an internationally focused, New York-based law firm to pursue a potential ADR listing of the company's securities in the United States.  In a brief statement, the NEX-listed base and precious metals producer, which operates the flagship Hellyer Gold Mine in Tasmania Australia said no timetable for a listing has been set.

Tissue Regenix PLC (LON:TRX) said it expects to report sales and earnings (EBITDA) in line with revised expectations as it re-confirmed it is looking for sources of additional finance for the regenerative medicines business. Revenues for the year gone rose 12% to £13mln, the company said in a comprehensive trading update, which also revealed it had £2.4mln of cash, including a £1mln revolving credit facility. This, Tissue Regenix said, was enough to see it through to “at least the end of April”.

Quick facts: ANGLE PLC

Price: 61 GBX

AIM:AGL
Market: AIM
Market Cap: £105.41 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of ANGLE PLC named herein, including the promotion by the Company of ANGLE PLC in any Content on the Site, the Company receives from said issuer...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Morning Report: BATM develops new diagnostic kit to detect coronavirus

Headlines from the Proactive UK newsroom. Medical device maker BATM (LON:BVC) says its bio-medical division has successfully developed a new diagnostics kit to detect coronavirus. The kit's also undergone testing by several central labs and hospitals that have now verified its ability to...

17 hours, 9 minutes ago

7 min read