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Proactive news snapshot: Echo Energy, Power Metal Resources, Zoetic International, CentralNic …

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

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Echo Energy PLC (LON:ECHO) shares advanced in early deals as it revealed the positive impact of its acquired Santa Cruz Sur production assets in Argentina. Production for the period - starting on the effective date of the acquisition, 1 November 2019, and ending 31 January 2020 - averaged 2,481 barrels oil equivalent per day.

Power Metal Resources PLC (LON:POW) said interest from “third parties continues to be received” for a Botswana massive nickel sulphide project it is helping bankroll. The annual Mining Indaba conference in Cape Town this week has provided the stage to update on the progress at the Molopo Farms Complex Project (MFC). Power has an 18.26% stake in the deposit’s owner Kalahari Key Mineral Exploration and will have a 50.96% economic interest in the project once it has “earned in” by spending US$500,000 on exploration.

Zoetic International PLC (LON:ZOE) “continues to develop on all fronts”, its chief executive Nick Tulloch said in an update. The vertically-integrated cannabidiol (CBD) business said progress with one particular US partner, a retailer called AATAC, had “surpassed expectations”.

W Resources PLC (LON:WRES) has started operations at its Régua tungsten mine in northern Portugal, following the release of an updated JORC resource. The new resource confirms that Régua contains 4.47mln tonnes grading 0.27% tungsten trioxide (WO3).

Metal Tiger PLC (LON:MTR) has relayed an update regarding its 19.99% owned Cobre Limited which is advancing drilling operations at the Perrinvale project, in Western Australia. Cobre holds 80% of Perrinvale where an initial programme comprising 1,000 metres of drilling across three prospects - Zinco Lago; Schwabe; and Monti.

CentralNic PLC (LON:CNIC) saw revenues and earnings both surge ahead by 95% in 2019. The turnover rise was in line with market forecasts but underlying earnings were slightly better than predicted said the internet domain name specialist.

ECR Minerals PLC (LON:ECR) has announced the sale of its Argentine subsidiary Ochre Mining, which owns the SLM gold project, to Chinese group Hanaq Argentina. The AIM-quoted firm will retain a net smelter royalty (NSR) on future production of up to 2%, to a maximum of US$2.7mln. ECR noted that the transaction will allow it to focus on core gold exploration activities in Australia.

Primary Health Properties PLC (LON:PHP), one of the UK's leading investors in modern primary healthcare facilities, is continuing its expansion with the addition of a property in Wales. The FTSE 250-listed firm said it has contracted with a developer to fund the development and acquisition of a purpose-built primary care centre in Llanbradach, near Caerphilly in Wales for a total cost of £2.8mln.

BlueJay Mining PLC’s (LON:JAY) environmental application (EIA) for the Dundas minerals sands development in Greenland has been confirmed as compliant with the country’s guidelines and can move forward to the public consultation stage. The EIA, combined with the Social Impact Assessment (SIA), will enable BlueJay to move into the fixed period public consultation and subsequent preparation of the White Book required for final ministerial approval for an exploitation licence.

Europa Oil & Gas Holdings PLC (LON:EOG) has exited Licensing Option (LO) 16/19, in the South Porcupine Basin, offshore Ireland. It follows an exploration programme which concluded that the prospectivity of the area is limited, the company said. Europa expects that by relinquishing LO 16/19 it will avoid £105,000 of future costs.

accesso Technology Group PLC (LON:ASCO) has revealed that its chief financial officer (CFO), John Alder will step down from his position, and the group’s board, with effect from 31 March 2020, just a week after the firm’s former CEO returned to "re-energise the company". In a statement on Wednesday, the electronic queuing and e-ticketing specialist said that during the lag time, Alder will continue to serve as accesso's CFO overseeing the company's year-end financial results and to affect an orderly handover.

Simec Atlantis Energy Limited (LON:SAE) has raised £3.79mln  through a five-year retail bond offered through Abundance Investment, a regulated green peer-to-peer investment platform. The tidal power group said the bond has a coupon of 8%, payable semi-annually, and matures in 2024.

Victoria Oil & Gas PLC (LON:VOG), in a trading update, has highlighted the signing of a new agreement to potentially secure long term gas supplies from the Etinde field. But Elsewhere, the Cameroon-focused gas producer said operations at the Logbaba gas field continue to be troubled by third-party factors tied to ENEO – which has been impacted due to Altaaqa - ENEO’s generator supplier - stopping operations at the Logbaba gas-fired power station because of non-payment.

MaxCyte Inc (LON:MXCT), the global cell-based therapies and life sciences company, has announced its planned participation at the BIO CEO & Investor Conference at the New York Marriott Marquis. The group said its CEO & President Doug Doerfler will present on Monday, 10 February at 2:30 p.m. Eastern Time in the Odets Room on how MaxCyte is driving the development of the next generation of cell-based therapies through its ExPERT instrument family, supporting its Life Sciences Business, and with its proprietary CARMA platform.

Adamas Finance Asia Limited (LON:ADAM) has announced the publication of a detailed research note covering important progress at its investment in Future Metal Holdings Limited, the firm's largest investment by value in the portfolio. ADAM holds an 85% controlling shareholding in Future Metal, which owns a large dolomite quarry in China where production has recommenced as planned, with output and sales continuing to be ramped up. In addition, Equity Development has released an interview with Suresh Withana, Managing Partner at the Company's Investment Manager, Harmony Capital, in which he discusses progress at Future Metal's quarry, other constituents of ADAM's portfolio and the Company's business strategy and growth plans.

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