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Proactive news snapshot: Katoro Gold, Range Resources, Victoria Oil & Gas …

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Shares in Katoro Gold PLC (LON:KAT) surged at the opening bell on Thursday after the Tanzania-focused explorer confirmed plans to press ahead with the development of its Imweru project.

Range Resources Ltd’s (LON:RRL) recent work to optimise its producing wells in Trinidad has allowed the oiler to exceed its production targets. The AIM-listed firm had set itself the goal of producing 800 barrels of oil per day (bopd) by the end of the current quarter.

Shares in Papua Mining PLC (LON:PML) surged after it said epithermal quartz veining and associated gold have been discovered within the Lighthouse tenement. The shares rose 6.3% to 0.75p after the company said epithermal quartz veining had been mapped for 300 metres along strike in the part of the Lighthouse tenement known as Redwing.

Pan African Resources plc (LON:PAF) said it will complete construction of the Barberton Mines Tailings Retreatment Plant (BTRP) in the current week as it continued construction of its Elikhulu project. In an operations update, the AIM-listed precious metals miner said the construction of the regrind mill at the BTRP was complete and the commissioning process had commenced and would be completed in the next week.

Victoria Oil & Gas plc (LON:VOG) updated investors its first quarter, a period in which it was impacted by the non-renewal of a supply deal for a gas-fired power plant in Cameroon. The agreement with ENEO Cameroon SA expired at the end of December, but, whilst ENEO’s has yet to resume gas consumption, the AIM-quoted company said it is confident that there’ll be a resolution.

Alliance Pharma plc (LON: APH) chairman David Cook will provide the company annual meeting with an optimistic assessment of prospects, telling investors: "We look forward to the year ahead with confidence."  Operationally, the business is seeing "good growth" from its star brand Kelo-cote, for scar reduction, while the continued international rollout of MacuShield, a food supplement that promotes eye health, will provide a further boost.

StatPro Group PLC (LON:SOG), the provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry, has traded in line this year.

Greka Drilling Limited (LON:GDL) has secured a drilling contract in China’s Shanxi province and says it is bullish on securing new contracts in India despite setbacks with some of its current partners.

Bacanora Lithium PLC (LON:BCN), the London listed lithium exploration and development company, has drawn shareholders’ attention to surging lithium prices.

Gold miner Anglo Asian Mining Plc’s (LON:AAZ) has forecast a sizeable uplift in production in the current year after revenues and profits fell in 2017. Revenues for the year dropped to US$71.8mln from US$79.2mln as the proportion of concentrate sold increased.

Metal Tiger PLC (LON:MTR) said its joint venture project with MOD Resources Limited (ASX:MOD) has completed drilling for an infill and extension programme for its T3 (Motheo) Pit resource, with the assays received to date in line with expectations.

As Europa Oil & Gas (Holdings) PLC (LON:EOG) narrows its focus in on the Inishkea prospects, in the vicinity of Ireland’s Corrib gas field, it has decided to relinquish a portion of its portfolio. The explorer, in a stock market statement, revealed that it will give up offshore Licence Option 16/21 which covered an area in the Slyne basin, off Ireland’s West Coast.

Thor Mining PLC (LON:THR) received a boost after the US Department of the Interior confirmed that tungsten has been included in the list of critical minerals. Tungsten is the primary resource material at the company’s wholly-owned Pilot Mountain project in Nevada, which is also believed to contain copper and silver.

United Oil & Gas Plc (LON:UOG) has revealed that it has landed two new exploration areas in the North Sea. It was provisionally awarded two new blocks in the UK Government’s 30th offshore licensing round.

ADES International Holding Ltd. (LON:ADES) has established a US$140mln line of credit to finance the acquisition of three jack-up oil drilling rigs from Nabors.

IronRidge Resources Limited (LON:IRR) has appointed Neil Herbert as non-executive chairman with immediate effect.

Asiamet Resources Limited (LON:ARS) has said that Stephen Hughes has notified the company that after 22 years in Indonesia he will be returning to live in Canada with his family and will step down from his positions of vice president - Exploration and a board executive director effective 24 May 2018.  The group said Hughes will continue to serve the company as a consultant and advisor.

The Marketing Group PLC’s (NASDAQ OMX:TMG) creative agency Channelzero has announced the launch of its ‘Water baby forever' campaign to celebrate the 90th birthday of the Speedo swimwear brand.

Eurasia Mining plc (LON:EUA), the PGMs (platinum group metals) and gold mining company said it has now prepared an Information video (blog) for shareholders covering current production activities at its West Kytlim platinum mine in Russia. The AIM-listed group said on Wednesday that West Kytlim – which has the second largest alluvial platinum reserve in the world – is now fully operational.


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