Proactive news snapshot: Block Energy, Sareum Holdings, Argo Blockchain, Bango …

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Block Energy PLC (LON:BLOE) has signed a gas sales agreement with Bago, one of the largest private gas suppliers and purchasers in Georgia for output from the West Rustavi field. Bago will pay US$5.24 per thousand cubic feet and cover the costs of installing the infrastructure to connect the field to the Georgian grid network. Sales are expected to start in the first quarter of 2020.


Sareum Holdings PLC‘s (LON:SAR) latest drug candidate has the potential to fight a number of cancers, according to a poster presentation given on Tuesday in the US by the firm’s chief executive, Dr Tim Mitchell. He said there was a “good level of interest directed” at the company’s discovery from delegates at the American Association for Cancer Research’s annual gathering. “The conference is an important international cancer congress showcasing innovative research from academic and pharmaceutical organisations from around the world,” the Sareum CEO added.


Argo Blockchain Plc (LON:ARB) has increased an order for Bitcoin mining machines to 10,000 from 5,000, which once installed will increase its mining capacity by 240%. The cryptocurrency miner has replaced an order for 5,000 Antminer S17s, which would have cost US$13.09mln, with an order for 10,000 Antminer T17s costing US$9.51mln.


Bango PLC (LON:BGO) has signed an agreement with South Korean digital advertisement firm NHN ACE to develop digital marketing solutions targeting Korean mobile games users. The two companies will work with app developers to attract new paying users and increase in-app purchase revenues, employing premium apps and content while reducing marketing costs.


Applied Graphene Materials PLC (LON:AGM) surged on Wednesday as a primer containing its graphene technology hit the shelves of bike and car accessory retailer Halfords Group PLC (LON:HFD). The Hycote anti-corrosion primer, which Applied Graphene developed in partnership with consumer chemicals group James Briggs Ltd (JBL), has also been put on sale on Amazon Inc’s (NASDAQ:AMZN) website as well as on Tetrosyl Express, the UK’s largest supplier of car care, parts and accessories.


Kibo Energy PLC (LON:KIBO) has formed a partnership with Italian firm AB Group to build flexible power plants in the UK. The agreement is a critical step towards delivering a fully operational site at Bordesley by the end of the first quarter of 2020, said the energy group. Kibo’s UK operation is run through joint venture MAST Energy Developments (MED), where it has a 60% stake.


Eurasia Mining PLC (LON:EUA), the established producer of palladium, platinum, iridium, rhodium and gold, said late Tuesday it had received notification from holders to exercise warrants over 27,066,666 shares raising, in aggregate, a cash value of GBP162,400.


Sound Energy PLC (LON:SOU) has signed a memorandum of understanding to sell natural gas from its Tendrara licences to Morocco’s state power company. A detailed gas sales agreement is still under negotiation, but Sound said this is a binding agreement and the ongoing talks will incorporate the MOU. The aim is to get a final agreement signed by the end of the year.


ANGLE PLC (LON:AGL) expects the US Food and Drug Administration (FDA) to approve its Parsortix biopsy platform in the third quarter of next year following positive results from analytical studies. The medical tech firm said headline data from these studies, as well as a successful FDA clinical pivotal clinical study, originally announced in May, had been submitted to the FDA with the aim of getting market clearance for Parsortix to be used in metastatic breast cancer patients.


Corero Network Security PLC (LON:CNS), the network security company, has announced new customer orders through the Juniper resale partnership as well as two separate 100Gbps orders, totalling over $1.0 million, for its leading SmartWall DDoS protection products. Ashley Stephenson, Corero’s CEO commented: “We are delighted to announce over $1 million of new orders and more importantly, to confirm encouraging sales progress from our strategic partnership with Juniper.”


Greatland Gold PLC (LON:GGP) has identified four new drill targets at its Scallywag prospect in Western Australia following geophysical surveys at the site. The AIM-listed miner said the four targets, Kraken, Barbossa, Blackbeard and London, had been identified through an induced polarisation (IP) survey across the northern portion of the prospect and will be tested in the next field season.


Diversified Gas & Oil PLC (LON:DGOC) shares rose on Wednesday after it announced that it is contemplating a securitisation transaction to form a wholly-owned and fully consolidated special purpose vehicle to issue non-recourse, asset-backed securities in a private placement transaction. The Appalachian basin-focused firm said it expects to use the proceeds to reduce the debt on its existing revolving credit facility, and will collateralise the notes with a portion of its working interest from its upstream producing asset portfolio.


KR1 PLC (LON:KR1) has added three new investments to its blockchain technology portfolio costing around US$416,000.


Sativa Group PLC (LON:SATI) has inked a deal with a company that helps some of the world’s major consumer brands increase their market share here in the UK. SHS Sales & Marketing, which counts among its customers Mars and Colgate, will market Sativa’s Goodbody Botanicals CBD range. It will do so on an exclusive basis, advising on product mix along with providing promotional and communications support.


Columbus Energy Resources PLC (LON:CERP), the oil and gas producer and explorer with operations in Trinidad and Suriname, confirmed on Tuesday the spud of the Saffron prospect having received Ministry approval for the drilling of the prospect which is in the South West Peninsula, Trinidad. In a brief statement, the company said it expects to advance to drilling with the 8 1/2 inch pilot hole in the next few days. The firm added that it expects the well will take approximately 30-45 days to complete and evaluate and said it will update the market when appropriate.


Eland Oil & Gas PLC (LON:ELA) has revised down its production estimates for this year due to technical and permitting issues in Nigeria. The Gbetiokun-4 well has been suspended because of problems casing the core with attempts to rectify the issue hampered as the equipment required is not currently available in the country. Eland’s joint venture Elcrest has now moved onto drilling Gbetiokun-5, which is expected to be spudded within two weeks.


Custodian REIT (LON:CREI), the UK commercial real estate investment company, announced late Tuesday that to satisfy continued investor demand, it has issued 850,000 new ordinary shares under its ordinary share block listing facility at a price of 115.0p each, raising GBP977,500 before costs and expenses. Following the issue, the company said its issued share capital comprises 411,553,344 ordinary shares.


Vast Resources PLC (LON:VAST), the AIM-listed mining company, said late Tuesday it was notified that on 29 October 2019 Andrew Prelea, its chief executive director purchased 4,000,000 ordinary shares of 0.1 pence each in the company at a price of 0.2725p each. Following this purchase, it added, Prelea’s total beneficial ownership in the company is 43,179,476 ordinary shares, which represents approximately 0.42% of the issued share capital.


Personal Group PLC (LON:PGH), a leading provider of employee services in the UK, announced late Friday that its fourth dividend for 2019 of 5.825p per share will be paid on 13 December 2019 to members on the register on 8 November 2019. It added that this dividend, the final of four to be announced this year, represents a 1.3% increase over the equivalent period last year, reflecting the company’s progressive dividend policy.


Red Rock Resources PLC (LON:RRR), the natural resource investment and development company, announced that Pello Capital Limited has been appointed as joint broker to the company with immediate effect. Andrew Bell, Red Rock’s chairman commented: “We have appointed Pello Capital as broker to benefit from their regional UK retail investor reach and their knowledge of the retail investor market in spreading awareness of our developing story. Through them, and their research capabilities, we expect over time to achieve a diversification of our retail and non-retail shareholder base.”


Power Metal Resources PLC (LON:POW) the AIM-listed African focused metals exploration and development company said it was notified that its chairman Andrew Bell has purchased 250,000 ordinary shares in the company at a price of 0.499 each. Additionally, the group said, Value Generation Limited, a company beneficially owned by its CEO Paul Johnson, has purchased 100,000 ordinary shares at a price of 0.448p each, 250,000 ordinary shares at a price of 0.4917p each, and 250,000 ordinary shares at a price of 0.500p each. Following the purchases, it noted that Bell has a beneficial interest in a total of 11,270,000 shares, representing approximately 3.02% of the issued share capital, and Johnson has a beneficial interest in a total of 18,600,000 shares, representing approximately 4.99% of the issued share capital.


Chaarat Gold Holdings Ltd. (LON:CGH), the AIM-quoted gold mining company with assets in the Kyrgyz Republic and Armenia, said it has been informed that Labro Investments Limited, in which the company’s chairman Martin Andersson is indirectly beneficially interested in the majority of shares, purchased 50,000 shares in the company on the market at an aggregate share price of approximately 38.2p each on 28 October 2019 and 166,240 shares on the market at an aggregate share price of approximately 38p each on 29 October 2019. Following this purchase, its added, Labro Investments Limited holds146,417,436 shares, representing 33.17% of the issued share capital of the company.


Immotion Group PLC (LON:IMMO), the UK-based immersive ‘Out of Home’ entertainment group, said it has entered into an agreement to pay for the services of a consultant engaged to review and enhance the company’s offering in shares. Accordingly, the company issued 147,059 new ordinary shares at 6.8p each, being the share price when the agreement was made, in respect of GBP10,000 of this consultancy. Under the agreement, the consultant may be entitled to a further GBP40,000 of fees, contingent on performance, which the company may also elect to pay in shares, or in cash.


Bushveld Minerals Limited (LON:BMN) has secured 375mln South African Rand (GBP19.4mln) in funding through a loan and a revolving credit facility. The vanadium producer said the loan encompassed 250mln Rand over five years, while the 125mln Rand credit facility will be for a three-year term.


Tlou Energy Limited (LON:TLOU), the AIM, ASX and BSE listed company focused on developing gas-to-power projects in southern Africa using coal bed methane natural gas from its gas field in Botswana, has released a new corporate presentation, which is available from the company’s website. The presentation will also be given by Tlou at a stakeholders meeting in Gaborone, Botswana on Wednesday 30 October 2019.


Metal Tiger Plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, announced that, as part of the board’s increased focus on cost control, the broker agreement between the company and SI Capital has been terminated with effect from today. The company said it continues to retain Arden Partners as its sole broker.


Amur Minerals Corporation (LON:AMUR), the nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, announced that further to the convertible loan agreement entered into on 22 March 2019, it has today issued 16,278,354 ordinary shares of no par value to Cuart Investments PCC Ltd and YA II PN Ltd in settlement of US$316,879 of principal and accrued interest.


IXICO PLC (LON:IXI), the AI data analytics company delivering insights in neuroscience, announced that it is scheduled to attend and present at the 10th Annual CNS Summit held from 31st October to 3rd November 2019 in Boca Raton, Florida, USA. The group said Robin Wolz, Ixico’s senior vice president of Science & Innovation will present a poster entitled “Automated sleep-wake prediction from wearable sensors using neural networks – from data collection to algorithm development, cross-validation and clinical trial deployment” during the evening receptions on Friday 1st and Saturday 2nd November 2019.


Avation PLC (LON:AVAP), the commercial passenger aircraft leasing company, announced that it will be holding its annual general meeting at 9.00 am (UK time) on 21 November 2019, at 65 Kampong Bahru Road, Singapore 169370. The group said UK-based shareholders are invited to attend a video conference of the meeting which will be held simultaneously at the offices of Charles Russell Speechlys LLP at 5 Fleet Place, London EC4M 7RD.


Seeing Machines Limited (LON:SEE), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, announced that it will hold its Annual General Meeting at its head office in Canberra, Australia at 11am Australian Eastern Daylight Time (AEDT) on Thursday 28 November 2019.


Proactive Research has issued a note on esports firm Gfinity PLC (LON:GFIN) in which analyst Ed Stacey concluded: “The company is increasingly seeing a shift towards the risk and reward sharing model of shared commercial rights, as well as the consultancy and community opportunities.” Stacey is forecasting revenue growth of 67% per year for Gfinity for the period 2019-2022, versus a trend growth of 20% for the esport industry overall.


Proactive Research has issued a note on Shield Therapeutics (LON:STX) after the biotech firm reported further data from its noninferiority AEGIS H2H study of oral ferric maltol (branded as Feraccru in Europe and Accrufer in US). Analyst Emma Ulker said: “The data are supportive of Feraccru and present a clear commercial challenge to market-leading IV iron products such as Ferinject in Europe (Injectafer in US), particularly given Feraccru’s convenience, as patients can take Feraccru at home, as well as avoiding the life-threatening risks associated with IV iron administration.”

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