UK & US

Proactive news snapshot: SDX Energy, Erris Resources, Asiamet Resources …

Erris Resources PLC (LON:ERIS) has entered into an option agreement with GreenOre Gold PLC relating to the acquisition of 80% of the Loch Tay gold and associated base metals project in Perthshire, Scotland. The project area comprises 237 square kilometres of highly prospective ground within the Grampian gold belt.

SDX Energy PLC (LON:SDX) told investors that the South Disouq gas field has now achieved its targeted stabilised plateau production rate, of 50mln cubic feet per day, three months earlier than initially expected. Gas has now been flowing to the South Disouq central processing facility since 7 November 2019.

Asiamet Resources Ltd (LON:ARS) has said it is unaware of any operational or corporate reason for a large price movement that took place on 9 December. The company also took the opportunity to highlight some of the progress its made during 2019. In particular, the BKM copper project in Indonesia now boasts an ore reserve of 21.1mln tonnes grading 0.6% copper in the proven category, and 30.4mln tonnes grading 0.5% copper in the probably category.

Rockfire Resources PLC (LON:ROCK) has revealed that its Induced Polarisation (IP) geophysical survey, completed in early December, has highlighted multiple anomalies from surface to depth at the company's 100%-owned Plateau Gold Deposit in Queensland, Australia. In a statement, the AIM-listed gold and base-metal focused explorer, said a large geophysical anomaly has been detected around and beneath drill hole BPL025 which, as announced on 26 November this year, has intersected 177 metres (m) at 0.5 grammes per tonne (g/t) of gold. The company noted that the anomaly has been proven to host gold mineralisation near surface and provides multiple strong targets for gold exploration at depth.

Power Metal Resources PLC (LON:POW) has raised £700,000 through a share placing and subscription at the current market price to provide the explorer with a “considerable cash runway”. The AIM-listed metals exploration and development company said it will issue 175,000,000 new ordinary shares at a price of 0.40p each. Power Metal shares were steady at 0.38p each in afternoon trading on Tuesday.

Immotion Group PLC (LON:IMMO) has appointed the former managing director of Sony Computer Entertainment Europe to head up its virtual reality (VR) experience creation arm, Immotion Studios. Ian Hetherington, whose prior experience at Sony included overseeing the launch of the Japanese firms PlayStation console in Europe, will replace outgoing creative director Ian Liddell, who is leaving the firm to pursue other opportunities.

Greatland Gold PLC (LON:GGP) has unveiled what it says are “positive results” from a geochemical survey at its Paterson Range East licence in Western Australia. The AIM-listed explorer said the survey had delivered a “widespread geochemical response”, including for gold and copper, which it says will enhance the prospectivity of multiple targets at the site.

Bloomsbury Publishing Plc (LON:BMY) has acquired London-based drama and play publisher Oberon Books for £1.2mln. The media house, best known for publishing the Harry Potter books, said Oberon will be incorporated into its Academic & Professional division and is expected to break even in its first year.

Kibo Energy PLC (LON:KIBO) said it is making “excellent headway” at its gas-fuelled power generation plant in the UK as it gobbled up the remaining 40% stake in the project. The company said it intended to fully acquire the Bordersley Power project back in June, but announced on Tuesday that it intends to pay 10mln shares to Bordersley's original vendors.

S&U PLCs (LON:SUS) trading has remained in line with expectations despite what the firm says is a slowing economy and “political vacillation” in the UK ahead of Thursdays general election. In a trading update for the period to 9 December from 1 August, the lender, which specialises in motor finance and property bridging, said trading at its Advantage motor finance business was “proving robust”, with new deal advances up 11% to £127mln since the start of its current financial year while Advantage also hit a record of 63.500 customers.

NQ Minerals PLC (NEX:NQMI)(OTCQB:NQMLF) has contracted a second, high capacity mining dredge to augment its mining operations at the Hellyer project in Tasmania. The second dredge has a capacity to move 100 tonnes of ore per hour, and is likely to be on-site and operational at Hellyer by year end.

Ashley House PLC (LON:ASH) has beefed up the management of its F1 building business with the appointment of Paul Williamson as head of its modular division. Williamson was previously managing director at Nu Build, the modular construction arm of Swan Housing for whom it provided affordable housing.

G3 Exploration Ltd. (LON:G3R) said that, as announced on 2 December, the Cayman Court will hear both the application from the company and the one from the Nordic Bond Trustee on 11 December. Until the decision of the Cayman Court is received, the company added, it has withdrawn its application for suspension from the FCA and will evaluate such an application based on the outcome of the Cayman Court decision. The group expects to provide an update following the Courts decision.

Futura Medical PLC (LON:FUM) believes it has found a "simpler route to regulatory approval” following a surprising read-out from the phase III clinical trial of its erectile dysfunction gel. These were nuanced results. For while MED2005 showed strong efficacy, excellent safety, rapid speed of onset, the placebo had a “highly statistically significant” impact on the men in the control group of the experiment. Normally, a placebo is a sugar pill, liquid or gel with no medical benefit whatsoever. However, in the Futura FM57 clinical assessment, researchers used DermaSys, developed by the company to deliver the active ingredient glyceryl trinitrate, or GTN for short.

Falcon Oil & Gas Ltd (LON:FOG) (CVE:FO) told investors that horizontRead More – Source