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Proactive news headlines: Malvern International, Red Rock Resources, Greatland Gold PLC, Diversified Gas & Oil, Gfinity …

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

Malvern International PLC (LON:MLVN), the educational course's partner, said current bookings are encouraging, with language student numbers starting to recover. A new cohort of University Pathway students is due to start in January with courses going ahead either face-to-face or online, depending on the prevailing coronavirus (COVID-19) guidelines while language student numbers are rebuilding, with currently a quarter of the normally expected students for this time of year.

Red Rock Resources PLC (LON:RRR) has been getting things ship-shape at its licences in Kenya after they were renewed in August. "Thanks are due to our camp manager and security and maintenance staff who have kept the site safe and secure for over five years without exploration activity, safeguarding and preserving our records and core sheds. We now have once again a fully operative site as a base for our operations and from which to ramp up exploration,” said Red Rock’s chairman, Andrew Bell in an update on the group's operations in the African country.

Greatland Gold PLC (LON:GGP) has provided an update on Newcrest's drilling campaign at Greatland's Havieron deposit in the Paterson region of Western Australia which includes the best intercept at the project to date. The AIM-listed precious and base metals exploration and development company noted the release of an ASX announcement titled " Newcrest Quarterly Exploration Report"  by Newcrest Mining Ltd earlier on Thursday.

Diversified Gas & Oil PLC (LON:DGOC) said the outlook for natural gas “is looking increasingly positive” after it put in a solid third-quarter performance. The third-quarter adjusted underlying earnings (EBITDA) rose to US$75mln from US$68mln in the preceding quarter and US$64mln in the same quarter of 2019. The US-based owner and operator of natural gas, natural gas liquids and oil wells and midstream assets declared a third-quarter dividend of 4.0 cents a share, up from the 3.75 cents paid in the second quarter.

Gfinity PLC (LON:GFIN) has reported sharply reduced losses in its final results as its financial performance improved following a transition to focus on higher value and higher margin revenue streams. For the year ended June 30, 2020, the esports media group reported an adjusted operating loss of £5.5mln, narrowed from an £8.6mln in the prior year, while revenues were at £4.5mln compared to £7.9mln in 2019.

Ncondezi Energy Limited (LON: NCCL) announced that further to the announcement made on October 13, 2020, and following the successful completion of the necessary due diligence checks, Scott Fletcher has been appointed as a non-executive director of the company with immediate effect. In a statement, Ncondezi non-executive chairman, Michael Haworth commented: "We are delighted to welcome Scott to the Board. As the Company's largest individual shareholder, the appointment demonstrates Scott's further commitment to the Company.  Scott is uniquely placed to represent independent shareholder interests as we advance our financing strategy for both Ncondezi Energy and our C&I subsidiary. In the meantime we continue to  progress towards completion of the power tariff negotiations for the Ncondezi Power Project and look forward to providing further updates on this over the coming months."

Live Company Group PLC (LON:LVCG) said it has signed new contracts for two sets of Christmas assets with shopping centres in the UK. The AIM-listed media and events group said the first set of assets consisting of its Elfie Christmas bundle will be showcased at the Fort shopping centre in Birmingham from November 20, while the second set, consisting of Santa's Express and Santa's sleigh will be at The Mall shopping centre in Luton from November 17. The deal marks the first partnership with the Fort shopping centre for the group.

ANGLE PLC (LON:AG) (OTCQX:ANPCY) chairman Garth Selvey said the med-tech group is now making “strong progress” towards commercialising its breakthrough liquid biopsy. ANGLE used its interim results to restate plans outlined earlier in the week as it raised £19.6mln to fund its ambitious blueprint. The cash injection will be invested to create clinical laboratories in the US and UK and to underwrite the development of a pharma service business that will tap into the huge market potential of its Parsortix cancer cell detection technology.

Amryt Pharma PLC (NASDAQ:AMYT, LON:AMYT) has outlined plans to share additional encouraging data on its recent successful phase III study of FILSUVEZ to the medical and financial communities. FILSUVEZ, also known as Oleogel-S10, or previously AP101, was shown to lessen the healing time of wounds in people with epidermolysis bullosa (EB), where the skin is fragile to even the slightest touch. The latest, more detailed batch of data reveals the proportion of patients with first complete closure of the EB target wound within 45 days was 41.3% in those receiving FILSUVEZ compared with 28.9% in the control group.

Alien Metals Ltd (LON:UFO) has completed a detailed geological mapping and sampling programme at the Hamersley iron ore projects in Australia. What’s more, field observations indicate that the BHP 19 and BHP 20 prospects may be part of same larger system, and additional prospective iron ore units have been mapped at the Brockman iron project. Preliminary handheld XRF results are consistent with those observed in the 2019 field programme, with reported ranges of between 40% and 70% iron. The next step will be to undertake drilling.

CMC Markets PLC (LON:CMCX), the spread better, said its institutional arm has signed a liquidity distribution partnership with Gold-i. Brokers, banks and hedge funds using Gold-i's multi-asset liquidity management platform, Matrix, can now access nearly 10,000 different instruments from CMC Markets across a range of asset classes, it added in a statement

INTOSOL Holdings PLC’s (LON:INTO) non-executive chairman Hans Joachim Bischoff highlighted financial support from the German government as the boutique travel group stressed efforts to protect shareholder interest from difficulties arising from the coronavirus pandemic. “Since January 31, 2020, the outbreak of the novel strain of coronavirus, specifically identified as “COVID-19”, has resulted in worldwide multiple lockdowns resulting in cancellation of travel bookings with immediate effect on the company. Our focus was to solicit the German government financial support as our office and staff are based in Germany to maintain key staff and regulatory compliance as a Main Board public issuer on the London Stock Exchange”, Bischoff said in a statement, adding that the company has received a €500,000 loan from the German state to maintain its staff and operations.

Kromek PLC (LON:KMK) has announced the appointment of Paul Farquhar as its chief financial officer and a director of the group with effect from November 2, 2020. The company, a worldwide supplier of detection technology focusing on the medical, security screening and nuclear markets, noted that Farquhar has almost 30 years' experience as a finance director and chief financial officer, primarily for international businesses. This includes 10 years as vice president, treasurer and chief financial officer of Sevcon Inc, which was a NASDAQ-listed designer, manufacturer and supplier of microprocessor controls for electric and hybrid vehicles through wholly-owned subsidiaries in Europe, North America and Asia and via an international dealer network.

Clear Leisure PLC (LON:CLP) said it “remains confident” in its “very promising” technology investments and legal claims as the group reiterated its commitment to improve its financial position. In an outlook statement accompanying its interim results, the investment group’s chief executive and chairman Francesco Gardin said positive outcomes are expected from its legal claims and that it will continue its investment strategy in the tech sector both directly and via an enterprise investment scheme (EIS) fund.

Genel Energy PLC (LON:GEN) noted that DNO ASA, as operator of the Tawke PSC in Kurdistan, in which Genel 25% working interest, has issued an update on licence activity. The group said production at the Tawke licence increased to 113,700 barrels of oil per day (bopd) in the third quarter, reversing declines resulting from a reduction in activity triggered by the instability caused in the wake of the coronavirus (COVID-19) pandemic.  In a later separate statement, Genel Energy also announced details of payments that have been received from the Kurdistan Regional Government for oil sales during September 2020. It said the Taq Taq partners have received a gross payment of $4.0mln, with Genel's net share of the payment being $2.2mln, while the Tawke partners have received a gross payment of $30.2mln, with Genel's net share of the payment being $7.4mln.

Vast Resources PLC (LON:VAST) has published a JORC compliant Resource & Reserve Report for its 80%-owned Baita Plai Polymetallic Mine in Romania. Measured, Indicated & Inferred mineral resources are estimated at 608,000 (gross)/486,400 (net attributable to Vast) tonnes at 2.58% copper equivalent. In an earlier separate statement, Vast had posted its final results for the year to April 30, 2020, which saw it report a loss of US$8.3mln (2019: US$9.1mln). Cash at the year-end was US$478,000 since when the junior has raised US$6mln through share issues and arranged a US$15mln bond facility with Atlas Capital Markets.

Scancell PLC (LON:SCLP), the cancer immunotherapy drug specialist, said it is rearranging a general meeting to get approval for the issue of £17.9mln worth of convertible loan notes to US health investor Redmile.  The loan notes were to be issued as part of a £30mln finance package from Redmile announced earlier this month. Scancell said proxy votes in favour exceeded 70% but had not reached the 75% threshold required to pass a special resolution to issue the notes. A new general meeting has been convened for November 5, 2020, to give more shareholders time to vote on the resolutions and to boost the total in favour above 75%.

Trident Royalties PLC (LON:TRR) said all pre-conditions for its Lake Rebecca Gold royalty acquisition have now been satisfied and that completion will occur automatically on admission of the consideration shares. On September 24, 2020, Trident announced that it had entered into a binding agreement to acquire an existing 1.5% Net Smelter Return (NSR) gold royalty over tenement E28/1610, which hosts the entirety of the million-ounce Lake Rebecca Gold Project, currently owned and operated by ASX-listed Apollo Consolidated in Western Australia. The royalty was acquired for a total consideration of A$7,000,000 in cash (about US$5,000,000) and A$1,000,000 to be satisfied by the issue of 1,862,556 new ordinary shares of 1p each in Trident at 29.39p per ordinary share.

NQ Minerals PLC (AQSE:NQMI) (OTCQB:NQMLF) (OTCQB:NQMIY), the base and precious metals producer from its Hellyer Gold Mine in Tasmania Australia, said it has raised £337,000 (gross) at 7p per share from a UK-based Institutional investor and a group of private investors for general working capital purposes to whom it will issue 4,814,282 new ordinary shares.

IronRidge Resources Limited (LON:IRR) has announced the allotment and issue of 1,425,672 depositary interests of no par value each in the company to Geodrill Limited, as partial satisfaction of invoiced costs to date associated with drilling at the company's projects in Cote d'Ivoire.

Supermarket Income REIT PLC (LON:SUPR)  has acquired a long-standing Sainsbury's supermarket (and adjoining commercial premises) in Heaton, Newcastle upon Tyne. The REIT, which focuses on stores occupied by the major grocery chains that have omnichannel or online fulfilment capability, said it had acquired the site from the  National Farmers Union for £53.1mln reflecting a combined net initial yield of 4.1%. Sainsbury's has been a long-term tenant on the 11-acre site which was originally developed in the 1980s and completely rebuilt in 2011. 

Inspiration Healthcare Group PLC (LON:IHC), the global medical device company has announced the appointment of Liz Shanahan to its board as a non-executive director with immediate effect. Shanahan is a life sciences entrepreneur with extensive experience advising leading global pharmaceutical and healthcare organisations on their communications. Until 2014, she was Global Head of Healthcare & Lifesciences at the NYSE-listed management consultancy, FTI Consulting Inc., who had in 2007 acquired the communications business, Santé Communications, which she founded in 1995.  In a statement, Mark Abrahams, Inspiration Healthcare’s chairman, said: "We are delighted to announce the appointment of Liz to the Board today. She brings extensive experience in the healthcare communications industry coupled with an entrepreneurial spirit so clearly demonstrated by her very successful career and we look forward to working with her as we continue to develop the Group."

Touchstone Exploration Inc (LON:TXP, TSE:TXP) said it spudded its Cascadura Deep-1 ahead of schedule at the Ortoire onshore exploration block in Trinidad and Tobago on October 27, 2020. The oil and gas firm said it is currently drilling the surface hole to a planned casing depth of 900 feet with the bottom hole location anticipated to be 1,300 feet to the south-east. The well is targeting three distinct Herrera thrust sheets and is designed for a total depth of 10,600 feet.

Oracle Power PLC’s (LON:ORCP) Thar project is even more relevant for Pakistan given the country’s drive to become self-sufficient in thermal fuel and gas for fertiliser, according to the group's chief executive Naheed Memon. Thar is being developed through a consortium of Oracle Power, China National Coal Development Company and The Private Office of His Highness Sheikh Ahmed Bin Dalmook Al Maktoum. An application for a Letter of Intent (LOI) for 1,320 MW power plant at the mine site has been submitted, said Nemon in a statement with its half-year results to end June 2020, but has been delayed by coronavirus (COVID-19) restrictions and administrative changes at the Power Ministry.

Custodian REIT PLC (LON:CREI), the UK commercial real estate investment company, has again upped its dividend as institutional investment activity increased in its UK commercial property segment. The property investment trust approved a dividend of 1.05p per share for the quarter ending September 30, up from the 0.95p approved for in the first quarter of its financial year. The group said its unaudited net asset value (NAV) as at September 30, 2020, was 95.2p, down from 95.7p as at June 30, 2020.

Metal Tiger PLC (LON:MTR), the AIM-listed investor in natural resource opportunities, has provided an update in relation to its investment in Southern Gold Limited which today released its quarterly activities report to September 30, 2020. The company is currently interested in 22,000,000 Southern Gold shares representing approximately 11% of its issued share capital. Further to the announcement of September 3, 2020, Metal Tiger is expecting to settle its commitment under the fundraise early next week and, accordingly, will be issued with 14,569,000 new Southern Gold shares and 7,284,500 2-year warrants with an exercise price of A$0.18 per warrant. Following settlement, Metal Tiger will be interested in 36,569,000 Southern Gold shares, representing approximately 17.1% of the company, and 7,284,500 2-year A$0.18 warrants. Southern Gold’s quarterly activities report can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02301176-2A1259813?access_token=83ff96335c2d45a094df02a206a39ff4

Power Metal Resources PLC (LON:POW) said it will maintain its stake in Kalahari Key Mineral Exploration by taking up its rights in full in a share issue by the privately-owned explorer. Kalahari Key currently holds 100% of the Molopo Farms Complex nickel sulphide and platinum-group metal project in Botswana. Power Metal has an 18.26% stake in Kalahari Key plus the right to earn a 40% direct stake in Molopo by funding US$500,000 of exploration this year. In a separate statement after the close on Wednesday, Power Metal said it had received a notice to exercise warrants over 4,797,200 new ordinary shares of 0.1p each in the company at an exercise price of 1.0p each and subscription monies of £47,972 have been received by Power Metal in respect of these exercises.

genedrive PLC (LON:GDR), the near-patient molecular diagnostics company, has said it will release its financial results for the year ended June 30, 2020, on Tuesday, November 17, 2020. The company will be hosting a live online presentation open to all investors on Wednesday, November 18 at 10.00am, delivered by David Budd, its CEO. The presentation will be hosted through the digital platform Investor Meet Company. Investors can sign up to Investor Meet Company for free and add to meet Genedrive via the following link: https://www.investormeetcompany.com/genedrive-plc/register-investor

Tissue Regenix Group PLC (LON:TRX) the regenerative medical devices company has announced that the company's registered office and UK manufacturing facility has changed with immediate effect from Unit 1 & 2, Astley Way, Astley Lane Industrial Estate, Swillington, LS26 8XT to: Unit 3, Phoenix Court, Lotherton Way, Garforth,  LS25 2GY. The decision to undertake this move was initially announced in August, as part of ongoing overhead cost reduction initiatives, and it is expected to deliver savings of over £0.4mmln on an annualised basis from 2021.

Bidstack Group PLC (LON:BIDS), the native in-game advertising group, has announced that, on October 27, 2020, it received a subscription notice from Donald Stewart, the company's Chairman, exercising 250,103 warrants to subscribe for new ordinary shares in the company at a subscription price of 5p each.

i3 Energy PLC (LON:I3E) announced that, following the conclusion of its general meeting held on Thursday, the resolution was duly passed to approve the acquisition of all the issued and outstanding common stock of Toscana Energy Income Corporation on the terms and subject to the conditions set out in the company's admission document dated October 13, 2020.

Tiziana Life Sciences PLC (NASDAQ:TLSA) (LON:TILS), a biotechnology company focused on innovative therapeutics for oncology, inflammation and infectious diseases, said it has allotted and issued 426,500 ordinary shares of 3p each credited as fully paid at a price of 35p per share in respect of the exercise of 426,500 options with an exercise price of 35p held by option holders, including 400,000 held by Dr Kunwar Shailubhai, its chief executive officer and chief scientific officer; 20,000 held by Vaseem Palejwala, director of clinical operations of the company and 3,500 held by Jules Jacob, senior director, CMC & non-clinical development of the company.

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