logo-loader

Proactive news snapshot: Oracle Power, Scancell, Corero Network Security, BigDish PLC, ADM Energy …

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

Oracle Power PLC (LON:ORCP) has entered into a shareholder lock-in agreement with His Highness Sheikh Ahmed Bin Dalmook Al Maktoum and Sheikh Ahmed Bin Dalmook Al Maktoum Private Office One Person Company LLC. The Lock-in is being entered into voluntarily by His Highness and is effective for a term of 12 months. During this period His Highness has agreed not to sell, transfer or otherwise dispose of the rights to any of the 200mln Oracle shares that he owns.

Scancell Holdings PLC (LON:SCLP) said it will ramp up patient recruitment after receiving the green light to start a phase II clinical trial of its cancer treatment in the US. This followed the granting of investigational new drug status for SCIB1 by the Food & Drug Administration (FDA) for use in people with late-stage melanoma.

Corero Network Security PLC (LON:CNS), the network security company, has announced two new customer wins for its SmartWall DDoS (distributed denial of service) protection product, plus an additional purchase from an existing customer, totalling US$1.0mln over the course of the contracts. Ashley Stephenson, Corero’s CEO commented: "We have made a strong start to 2020 with these new and existing customer wins demonstrating the increasing traction for our SmartWall products."

BigDish PLC (LON:DISH) said a switch to centralised telesales marketing from Manchester has doubled the number of restaurants using its yield management system in just a month. Numbers of restaurants signed up have increased by 150% to 351 since November, with January alone seeing a 120% rise.

ADM Energy Plc (LON:ADME) shares surged on Monday morning after it struck a deal with commodities trader Trafigura to find potential deals in the African energy sector. If the planned “strategic alliance” is formed, AIM-listed ADM will be in charge of “originating, analysing, developing, structuring and negotiating” potential projects with other parties and then will present them to Trafigura for “further evaluation”.

Eco (Atlantic) Oil & Gas Limited (LON:ECO)  has reported a 29% increase in the estimate for the amount of oil contained at its Orinduik Block, offshore Guyana. Gross prospective resources are now estimated at 5.14mln barrels on a p50 basis or best basis, which amounts to a net 771mln barrels to Eco for its 15% stake.

AFC Energy PLC (LON:AFC) said it has begun a hydrogen-fueled “roadshow” to highlight the benefits and capability of its new zero-emission H-Power electric vehicle charger. The AFC team will drive a Tesla Model S 75D with the electric battery entirely powered along the way by the company’s H-Power EV charging system.

Blue Star Capital PLC’s (LON:BLU) said one of its investments in the e-sports industry is set to become one of the largest operators in Australia after agreeing a merger deal. Diemens Esports, which was called The Cubs Esports when Blue Star invested AU$250,00 in November, has agreed to merge with event production company Critical Hit Entertainment (CHE).

Directa Plus (LON:DCTA) has won a second contract for its graphene-enhanced oil contaminant treatment Grafysorber through subsidiary Setcar. The contract is with GSP Offshore, part of the Romanian oil services group GSP, and worth €5mln over a seven-year period.

IronRidge Resources Ltd (LON:IRR) has returned more high-grade gold as well as broad intersections in the latest batch of assay results from exploration at the Zaranou gold project in Côte d'Ivoire. The results form the final batch of assays from the company’s maiden exploration drill programme which totalled 7,448 metres of aircore drilling in 151 holes and 1,593 metres of reverse circulation drilling in 10 holes. Among the highlights were six metres at 6.44 grams per tonne gold, and two metres at 7.11 grams per tonne gold.

Ixico PLC (LON:IXI) said it is providing funding and expertise for the Alzheimer's Disease Neuroimaging Initiative (ADNI). Two of the neuroscience analytics company's scientists will join the private partner scientific board of ADNI, which is a longitudinal multicentre study looking to develop clinical, imaging, genetic and biochemical biomarkers for the early detection and tracking of Alzheimer's disease.

Yellow Cake PLC (LON:YCA) has revealed results for the quarter to 31 December 2019. The company’s estimated net asset value rang in at 211p per share, a significant premium on the current share price of 187p. Total assets amounted to US$245.3mln, comprising largely of 9.62mln pounds of physical uranium (U3O8) valued at a spot price of US$25.00 per pound.

Integumen PLC (LON:SKIN) has formed an alliance with a specialist supplier to municipal and utility customers in order to broaden distribution for its RAWTest water testing product. The AIM-listed company’s Rinocloud subsidiary agreed a commercial development partnership with South Africa’s Acumen Software to create a combined offering of Acumen's integrated mobile asset and management software platform with RinoDrive's data analytics, data refining capabilities and RAWTest AI real-time water monitoring service.

Power Metal Resources PLC (LON:POW) has highlighted a release from Katoro Gold (LON:KAT), in which Katoro states that work in its joint venture with Blyvoor is now underway. Katoro’s plan is to recover gold and other minerals from six tailings dams controlled by Blyvoor.Katoro’s shares jumped on the news and, after some profit-taking, settled at 2.45p, more than double the price they were trading at the beginning of last week. Power Metal Resources holds 10mln Katoro shares, representing 5.57% of the company.

Verona Pharma PLC (LON:VRP, NASDAQ:VRNA) said David Zaccardelli has replaced Jan-Anders Karlsson as chief executive, while Mark Hahn has been drafted in as chief financial officer. The respiratory drugs specialist said Karlsson was retiring after eight years with the company and will pursue non-executive roles, while former CFO, Piers Morgan will remain in place until the end of the month “to provide an efficient transition and complete required financial reporting”. The two new senior hires have come from Dova Pharmaceuticals, which was last year sold to Swedish Orphan Biovitrum AB in a US$915mln deal.

Polarean Imaging PLC (LON:POLX) announced that Dr Jonathan Allis has assumed the role of non-executive chairman of the clinical stage medical imaging technology company with immediate effect. In a statement, the AIM-listed firm – which is developing a proprietary magnetic resonance imaging (MRI) drug-device combination – noted that Dr Allis has a wealth of direct knowledge in healthcare and the medical imaging contrast agent industry and is currently the founder and chief executive officer of Blue Earth Diagnostics, which was recently acquired by Bracco Imaging for US$450mln.

Angling Direct PLC (LON:ANG), the UK's largest and fastest-growing fishing tackle and equipment retailer, has appointed Dilys Maltby, who has extensive experience working with consumer brands both as a consultant and as a client, as a non-executive director of the company with immediate effect. In a statement, the AIM-listed firm said Maltby, who has a strong track record in advising international consumer brands on their purpose, brand strategy and proposition, will be working with its board “to review, identify and deliver on its purpose”.

Feedback PLC (LON:FDBK) has announced the appointment of former Microsoft Corporation executive, Adam Denning as a non-executive director of the company with immediate effect. The firm pointed out that, as former Assistant Technical Adviser to Bill Gates, Denning brings extensive software delivery skills to Feedback as roll-out of its secure, encrypted medical communication app for clinicians, Bleepa continues to gain momentum. It noted that Denning currently serves as a non-executive director of Droplet Computing, an app containerisation start-up, and as managing director of Logical Operators Limited, his own consultancy firm. Previously, he spent 25 years at Microsoft Corporation in various roles. Rory Shaw, Feedback’s chairman commented: "Adam has exceptional experience within the technology industry, especially in relation to project management and delivery, from his time at Microsoft. He brings valuable strategic input at an important time for us as we anticipate the commercial roll-out of Bleepa."

Gulf Keystone Ltd. (LON:GKP) has confirmed that a gross payment of US$20.1mln (US$15.8mln net) has been received from the Kurdistan Regional Government for Shaikan project crude oil sales during September 2019.

Numis Securities gave a boost to Greatland Gold PLC (LON:GGP) shares on Monday, upping its target price for the Australian-focused gold explorer by 50% following a recent well-received drilling update. Numis’s analysts reiterated a ‘buy’ rating on Greatland and hiked their target price to 6p from 4p, with the shares currently trading at 3.42p, up 7% on Friday’s close.

Resolute Mining Ltd (ASX:RSG) (LON:RSG) has strengthened its balance sheet by repaying a US$130 million acquisition bridge facility that funded the cash component of Resolute’s acquisition of Toro Gold Limited in July 2019. Repayment of the facility was funded from proceeds of the company’s recent equity raising in combination with available cash on hand.

Mkango Resources Ltd. (LON:MKA) (CVE:MKA) said that, in response to certain questions from the British Columbia Securities Commission (BSCS), the firm has filed a revised NI 43-101 Report for the Songwe Hill Rare Earths Project in Malawi.  As requested by the BSCS, the Revised Report includes a discussion of the parameters used to establish the cut-off grade and any other factors the Qualified Person considered in determining reasonable prospects for eventual economic extraction, as well as certain clarifications in the reliance on non-experts section of the report. The Revised Report also includes certain changes to the certificates of Qualified Persons which outline specific relevant experience and responsibility for particular sections of the report. The group said there are no material differences from the results originally disclosed in the company's news release on February 4, 2019

Open Orphan PLC (LON:ORPH), the rapidly growing specialist pharmaceutical services company which has a focus on orphan drugs, said the latest copy of its investor presentation is now available to view on the company’s website. The firm also noted that it was also covered this weekend in the Sunday Times due to its unique reputation as being the world leader in this space having provided services for over 30 years to the vaccine production companies around the world.

InnovaDerma PLC (LON:IDP), a UK developer of beauty, personal care and life sciences products, said it will announce its half year results for the six months ending 31 December 2019 on Tuesday, 25 February 2020. In addition, the company will be presenting at the Shares and AJ Bell Investor Evening event in London on the same day as its half year results.

Base Resources Limited (LON:BSE) (ASX:BSE), the African mineral sands producer has advised shareholders that the latest company presentation, which was given at the Arlington Pre-Daba conference and will be presented at the 121 Mining Investment conference - both in Cape Town, South Africa - is available from the company’s website.

Danakali Limited (ASX:DNK) (LON:DNK) said shareholders can view the group’s Investing in African Mining Indaba conference presentation on the company’s website.

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 Oracle Power PLC named herein, including the promotion by the Company of Oracle Power PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Power Metal Resources 'pushing ahead with key projects' and in strong...

Power Metal Resources Plc's (LON:POW) Paul Johnson tells Proactive London's Andrew Scott they're in an advantageous financial position to deal with the current uncertainty around the coronavirus outbreak. He says they're conducting business diligently, safeguarding existing business...

2 days, 9 hours ago

10 min read