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Proactive news highlights – Robots, web domain deal, tidal power and cancer tests

Published: 03:23 09 Dec 2015 AEDT

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Rex Bionics (LON:RXB), maker of the revolutionary REX robot technology, said second half sales should exceed those in the first half of its fiscal year.

Interim results from the early-stage medtech company included the company's first sales since it floated in May of last year, and the company is confident sales momentum is building.

Revenue in the six months to the end of September totalled £184,000, but more importantly the company is now painting a clearer picture of how its technology fits into the issue of the rehabilitation of people with mobility impairment.

VolitionRx  (NYSE:VNRX) has reported over 90% accuracy for its new cancer blood test in a study into colorectal cancer in Belgium. In the latest of a series of very encouraging results in cancer studies, VolitionRx’s NuQ test identified 23 colorectal cancer sufferers out 121 patients tested,  a 91% success rate.

The study at the CHU Dinant Godinne - UCL Namur hospital was carried out on patients either at high risk or with symptoms suggesting the presence of colorectal cancer ahead of  colonoscopy to see if NuQ could predict the result.

Domain name specialist CentralNic (LON:CNIC) has unveiled a transformational deal to acquire an Aussie rival for almost £16mln (A$33mln).

It is buying privately-owned Instra Group, funded in part from a £10mln placing of stock with investors at 40p a share.

The purchase will extend CentralNic’s capabilities and “significantly increase” its retail offering - Instra has strong recurring sales and high margins, as well as being profitable and cash generative.

After more than six months suspended, shares in Challenger Acquisitions (LON:CHAL) began trading again earlier this morning. The decision to put the quote on hold followed the unveiling of two acquisitions that triggered the market’s arcane reverse takeover rules.

It meant the firm had to compile a prospectus ahead of relisting stock in the enlarged company. The deals form the basis of Challenger going forward as the part owner of big wheels similar to the London Eye and the manager of projects to build these attractions.

Tidal power group Atlantis Resources (LON:ARL) has agreed a five-year partnership deal with sub-sea cable specialist JDR Cable Solutions.

JDR designs and supplies sub-sea cables and related services, and the two will look to tackle a number of issues at Atlantis's MeyGen tidal power site in Scotland, including the storage, installation, monitoring, and testing of offshore sub-sea cables.

Passenger statistics for November for low-cost African airline fastjet (LON:FJET) were hit by the prolonged effect of the presidential election in Tanzania.

The airline carried 62,843 passengers during the month, with the load factor – a measure of how full its aeroplanes were – down three points from the previous month to 60%. The company said demand from government and civil service officials has tailed off during the election because no budget has yet been agreed.

Motive Television (LON:MTV) said discussions over extending the repayment deadline on its convertible loan notes (CLNs) are now at an advanced stage. The company currently has a balance of outstanding CLNs with a face value of £2,978,396 that mature on 31 December 2015, and is looking to push the deadline forward.

Big data specialist Rosslyn Data Technologies (LON:RDT) saw its shares put on a spurt after it announced two contract wins, worth more than £300,000.

The first is with a leading US Retailer and the second is with a prestigious global legal firm. The board believes now it has its foot in the door, it will be in a good position to sell more of its analytical services and capabilities.

DekelOil (LON:DKL) said its debt has reduced by €5.1mln, improving the economics of its 51%-owned Ayenouan palm oil project in Cote d'Ivoire. It follows the cancellation of capital note signed with Biopalm, which owns the other 49% of Ayenouan.

The agreement means Biopalm won’t now have to find a €1.1mln equity contribution to the project and remains at 49% of Ayenouan.

Copper explorer Metminco (LON:MNC) is moving forward with plans to bring in a partner for its Los Calatos project in southern Peru. Selected parties are carrying out due diligence, it said, including site visits, though Metminco added it is restricted from naming them at present.

Liberia-based gold miner Aureus Mining (LON:AUE TSX:AUE) is facing an arbitration hearing over its termination of contractor International Construction & Engineering's (Seychelles) contract in 2014.

Aureus said it strongly believes that the request is frivolous, without merit and opportunistic and it intends to vigorously defend itself against the claims.

Creditors have approved the rescue plan for Ferrochrome specialist International Ferro Metals' (LON:IFL) South African operations.

Last month, IFL put its subsidiary - International Ferro Metals SA Holdings (IFMSA) - into the South African equivalent of administration due to the collapse in steel prices, but it was quickly revealed the firm had a chance of being saved with some bid interest.

The business rescue practitioner (BRP), the South African equivalent of an administrator, will now look to sell IFMSA to Samancor Chrome, before a February 15 deadline.

Landore Resources (LON:LND) has kicked off a geophysics  campaign to support drilling at its Junior Lake prospect in Ontario, Canada.  

Drilling is already underway on a 2,500 metre, nine-hole diamond program at the B4-7 target. To aid this, Abitibi Geophysics will carry out bore-hole Time-Domain Electro-Magnetic (BHEM)   to determine the three dimensional extension of mineralisation and identify outlying anomalies.

San Leon Energy (LON:SLE) subsidiary NovaSeis will, alongside a partner, move into Nigeria to provide seismic acquisition services to oil companies.

NovaSeis has signed a memorandum of understanding (MoU) with Northbridge Energy, a Nigerian energy services group, and it will contribute seismic acquisition equipment and personnel together with interpretation expertise. Northbridge, meanwhile, is providing the work sourcing, permitting, local personnel and services.

Mosman Oil & Gas (LON:MSMN) has decided to cancel its option to acquire interests in Australia’s canning basin, in order to prioritise the South Taranaki Energy Project (STEP) in New Zealand. The company is acquiring STEP, a producing asset with development upside, and it expects to close the deal in early 2016.

Oilex (LON:OEX) is continuing to work over its Cambay field in India despite the distraction of possible legal action from major shareholder Zeta Resources. Production from the Cambay-77H well has averaged 51 barrels equivalent of gas daily since it restarted following its work-over, with peak output double that at 110 barrels equivalent of gas per day.

“As anticipated, the newly installed production tubing has improved the flow performance of the well compared to flow-back and testing operations during 2014,” it said.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

3 hours, 21 minutes ago