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Proactive news headlines: Sunrise Resources, Zoetic International, Asiamet Resources, discoverIE …

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

Sunrise Resources PLC (LON:SRES) has told investors that key documents in its permitting process for the CS Project, in Nevada, are now available for public comment. The company noted that the move marks the culmination of over 2 years of solid work involving the preparation of a detailed Mine Plan, extensive baseline field and desk environmental studies. "We are delighted to have reached this final stage in the permitting process and, whilst there have been a number of delays to the process, the end result is a robust environmental assessment,” Patrick Cheetham, Sunrise executive chairman said in a statement.

Zoetic International PLC (LON:ZOE) saw its shares jump on Friday as it predicted that distribution agreements agreed and that it is close to signing will lead to a “substantial increase” in sales of its Chill brand of cannabidiol (CBD) products in the US market. In a trading update, the CBD firm said the Chill brand’s focus on the tobacco replacement market is expected to be “especially attractive” as health concerns were exacerbated by the coronavirus pandemic, adding that it has also commenced negotiations for distribution of Chill products to two overseas markets. Zoetic also said it hopes to conclude “further significant distribution contracts” in the first quarter of its current financial year.

Asiamet Resources Ltd (LON:ARS) told investors it has landed a key approval for the BKM copper project in Indonesia, with the Governor of Central Kalimantan recommending the project to proceed into construction and development. It is part of a process for the project to secure a forestry borrow-to-use (Pinjam Pakai) permit from the Government of Indonesia. "Having recently secured the forestry permit for exploration, Asiamet is very pleased to have now received the Governor's recommendation for the Pinjam Pakai permitting process,” Asiamet executive chairman Tony Manini said in a statement.

discoverIE Group PLC (LON:DSCV) has said its business model is “resilient and flexible” and added that it had been encouraged by the continued “demand for its products” during the coronavirus (COVID-29) pandemic. In a trading update, the electronics designer and distributor said its sales increased by 8% year-on-year at constant currencies in the 12 months ended March 31, 2020, meaning earnings will be slightly ahead of the company’s revised expectations following a strong recovery in China. The order book, meanwhile, was up 7% at a record £159mln, though sales to date for the first quarter are currently 10% lower on an organic basis compared with last year. This is partly the result of brief shutdowns of facilities in Sri Lanka, India and the US.

Arkle Resources PLC (LON:ARK) saw its shares soar higher on Friday following news its Canadian partner Group Eleven Resources Corp (CVE:ZNG) (OTCMKTS:GRLVF) has entered into a subscription agreement with Glencore Canada Corporation on a private placement which will occur in two tranches. Group Eleven's key project is a 76.56% interest in the Stonepark project in Ireland, a joint venture with Arkle and a 100% interest in the adjacent PG West Project, located near Limerick, next to the Pallas Green zinc project, which hosts one of the world's largest undeveloped zinc deposits. Glencore is the owner of the Pallas Green project which hosts a deposit with an estimated mineral resource of 45.4 million tonnes of 7% zinc and 1% lead in the inferred category “Subject to TSX-V and shareholder approval, Glencore will invest a total of $750,000 to purchase 15,000,000 units in the capital of the company at a price of $0.05 per unit,” Group Eleven said in a statement.

Power Metal Resources PLC (LON:POW) said it has received a short extension on an option to increase its stake in the Haneti polymetallic project in Tanzania. Power Metal currently has a 25% stake but can increase this to 35% through the payment of £25,000 to partner Katoro Gold PLC (LON:KAT). The original deadline date was May 15, but this has been moved to May 31 due to approaches to Katoro from third parties over a partnership or farm-in deal.

Clear Leisure PLC (LON:CLP) said its board has noted the recent rise in the company's share price and confirmed that it is not aware of any reason for the increase. The group said discussions with the Mediapolis receiver regarding the transfer of funds have been continuing for several months; however, no conclusions have been reached with regards to these discussions. It added that there has been no material developments in respect of the company’s other legal cases since the announcement of May 6, 2020. As previously disclosed, the company said it will provide an update to shareholders in respect of these matters in due course.

Ormonde Mining plc (LON:ORM) has told investors its management continues to review new project opportunities, whilst the coronavirus (COVID-19) pandemic has restricted the firm’s Spanish mine activities to the desktop. More than 80 projects have so far been looked at by the company since it agreed the divestment of its stake in the Barruecopardo tungsten mine project, it noted. “A small number of these opportunities remain promising, being of an appropriate scale whereby the company's cash would aid meaningful development, and which the directors believe could have the potential to add materially to shareholder value,” Ormonde said in a business update.

Ncondezi Energy Ltd (LON:NCCL) has raised £650,000 though a conditional share placing to support working capital and cover corporate costs until the end of 2020. It is issuing 21.6mln new shares priced at 3p each and investors will also receive 1 share warrant per share, exercisable at 6p per share. “The placing provides the company with sufficient general working capital until the end of Q4 2020 (subject to the shareholder loan),” Hanno Pengilly, Ncondezi chief executive said in a statement.

Keywords Studios PLC (LON:KWS) has raised £100mln via a share placing to leverage what it said was a “unique opportunity” to continue its acquisition strategy. The video game services firm said it had raised the funds through the issue of 6.9mln new shares at a price of 1,450p each, a 5.8% discount to its closing price on Thursday. Announcing its placing plans after Thursday’s close, Keywords said while the coronavirus pandemic had increased the amount of video game playing, driving continued demand for content and for its own services, it was expecting to see “some stress in predominantly smaller service providers, which are typically single location and service with fewer clients and less able to weather the disruption”. The firm also provided a brief update on its current trading, reporting that despite greater pandemic disruption in the second half of March, revenues in March and April were 7% above the same two months of 2019 while the group had also gradually increased the operational capacity of its testing service into May.

Ergomed PLC (LON:ERGO) has announced that it's annual general meeting (AGM) will be held at the company's registered offices at 1 Occam Court, Surrey Research Park, Guildford, GU2 7HJ at 9.30am on Wednesday, June 10, 2020. In light of the UK government's current coronavirus (COVID-19) measures, the AGM will be run as a closed meeting and shareholders will not be able to attend in person, with the Form of Proxy for voting to be available on the company's website at www.ergomedplc.com. In conjunction with the AGM, Ergomed also announced that non-executive director Dr Jim Esinhart will not be standing for re-election and will step down from the board with immediate effect. It also said that non-executive director Rolf Soderstrom, has assumed the additional role of senior independent director.

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