Proactive news snapshot: Sirius Minerals, Oracle Power, Chaarat Gold, BigDish, Tower Resources …

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Sirius Minerals PLC‘s (LON:SXX) takeover offer from Anglo American plc (LON:AAL) “does not represent fair value for shareholders” in the potash miner and the FTSE 100 company “would be willing to bid substantially more”, reckons hedge fund manager Odey Asset Management.


Oracle Power PLC (LON:ORCP) shares shot up after it said it has agreed to jointly develop a lignite coal mine and associated power plant in Pakistan with the help of China National Coal Development and Dubai’s Sheikh Ahmed bin Saeed Al Maktoum. A consortium agreement has been signed by Oracle where China Coal and Sheikh Al Maktoum’s private office will jointly develop the combined lignite coal mine in the Thar desert in the Sindh province of Pakistan and a 1,320 megawatt mine-mouth power plant.


Chaarat Gold Holdings Limited (LON:CGH) said it remains on track for first production from its Tulkubash mine in the Kyrgyz Republic late next year as it updated on the performance of its operation in Armenia. The Kapan deposit yielded 60,252 gold equivalent ounces last year, up 7%, at an all-in cost of US$1,040 an ounce, down from US$1,183 a year earlier. Turning to Tulkubash, the company said project funding discussions have now moved to the “due diligence and documentation phase with a leading sector project finance group in the region”.


Gfinity PLC (LON:GFIN) will hold a “first of its kind experiential event” at the VidCon London 2020 gaming and content creators festival from this Thursday to Sunday. The AIM-listed company believes its expertise staging esports events could make the ‘experiential’ sector a “huge growth area” for the business.


BigDish PLC (LON:DISH), a food technology company that operates a yield management platform for restaurants, said it was informed on 18 February 2020 that two directors made purchases of shares in the company on 17 and 18 February 2020. It noted that Monza Capital Ventures Limited, an entity connected to founder and executive director, Aidan Bishop purchased 2,000,000 ordinary shares at a price of 3.6p, taking his holding to 51,298,506 shares, representing 14.70% of the company’s issued share capital. The group added that Simon Perree, a non-executive director of the company, acquired 270,000 ordinary shares at a price of 3.4% each taking his holding to 853,905 shares, representing 0.25% of the issued share capital.


Tower Resources PLC (LON:TRP) told investors it wants to drill the hotly anticipated NJOM-3 well in June. Offshore Cameroon the company has just completed a well site survey and equipment is now being sourced for the planned drill programme.


Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF) has signed a binding term-sheet for the sale of premium water-soluble sulphate of potash (SOP) from its Lake Way Project in Western Australia. The company is currently developing the project, which a bankable feasibility study (BFS) released last year valued at $696 million pre-tax.


SkinBioTherapeutics PLC (LON:SKIN) is teaming up with a Dutch firm called Winclove Probiotics to develop a food supplement to combat psoriasis. The former will identify the good bacteria strains for testing, while the latter will formulate and manufacture the new product, which will be called AxisBiotix.


Supermarket Income REIT plc (LON:SUPR) has acquired the Sainsbury’s store in Hessle in Yorkshire’s East Riding from Reassure for GBP34mln. The net initial yield is 5.5% and the site was acquired with an unexpired lease term of 14 years with annual, upward-only, inflation-linked rent reviews.


Avation PLC (LON:AVAP) said two of its ATR 72-600 aircraft have been subleased to Scottish carrier Loganair and will begin flying in the coming weeks. The two aircraft have been subleased from Flybe and will remain with Loganair until just before the end of the leases.


Echo Energy PLC (LON:ECHO) told investors that the Campo La Mata Exploration well (CLM x-1) in the Tapi Aike licence, in Argentina, has made a non-commercial gas discovery. The well’s primary target (Lobe C) and secondary target (Anita) both contained gas but did not flow at sufficient rates in testing to be considered commercially viable.


Sunrise Resources PLC (LON:SRES) cut losses in its latest full-year results as its hailed “significant progress” in the development of its CS Pozzolan-Perlite project in Nevada, USA. For the year ended 30 September, the firm reported a loss of GBP301,738, lower than the GBP786,672 figure in the prior year, while it had also ended the year GBP27,069 in cash, although since then it has raised GBP200,000 in a share placing.


Power Metal Resources PLC (LON:POW) the AIM-listed metals exploration and development company, has announced the appointment of Ed Shaw as a non-executive director, with immediate effect. The group noted that Shaw is currently a director of NewPeak Capital and Dunton Capital, and was previously on the boards of Hutton Capital, Manders & Shaw, ShawCap Limited, It said Shaw, who has been granted options over 5mln ordinary shares at an exercise price of 1.0p, currently holds 5mln ordinary shares representing 0.905% of POW’s issued share capital and a warrant over 5mln ordinary shares with an exercise price 0.70p.


Amryt Pharma PLC (LON:AMYT), a global, commercial-stage biopharmaceutical company dedicated to commercializing and developing novel therapeutics to treat patients suffering from serious and life-threatening rare diseases, said it has confidentially submitted a draft registration statement on Form F-1 to the U.S. Securities and Exchange Commission relating to the proposed listing of American Depositary Shares (ADSs) representing Amryt ordinary shares on the Nasdaq stock market.


APQ Global Limited (LON:APQ), an emerging markets growth company incorporated in Guernsey, has announced that as at the close of business on 31 January 2020, its unaudited book value per ordinary share was 89.04 US cents, equivalent to 67.55p. The group said the figure includes the accrual for the 1.5p dividend (2.0 US cent equivalent) declared on 23 January 2020 and payable on the 2 March 2020.


AFC Energy (LON:AFC), a leading provider of hydrogen power generation technologies, said it has been invited to present at the Scottish Renewables Transport Conference 2020 in Glasgow on Wednesday alongside several of Scotland’s leading environmental and energy commentators. The presentation, titled “Hydrogen: Fueling the Growth in Battery Electric Vehicles” will focus on the company’s H-PowerTM EV charger solution and how it can support Scotland deliver on its commitments to deliver Net Zero across the transportation sector, utilising green hydrogen as its key fuel.


IXICO PLC (LON:IXI), the AI data analytics company delivering insights in neuroscience, announced that it is scheduled to present a scientific poster on enhancing imaging analysis accuracy for Huntington’s Disease (HD) by comparing two types of Artificial Intelligence (AI) techniques. The group said the presentation will be seen at the CHDI Foundation 15th Annual 2020 Huntington’s Disease Therapeutics Conference held from 24-27 February, 2020 in Palm Springs, California, USA.


Blue Star Capital LON:BLU), the investing company with a focus on esports, technology and its applications within media and gaming, said it has received proceeds of GBP50,000 following an exercise of warrants at a price of 0.1p each.

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