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Proactive news snapshot: Savannah Resources, Rockfire Resources, OptiBiotix Health …

Published: 00:30 11 Sep 2018 AEST

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Savannah Resources Plc (LON:SAV) has boosted the resource base at the Grandao lithium deposit in Portugal by 64% to 16.4mln tonnes grading 1.04% Li₂O. Total contained lithium rings in at 171,400 tonnes.

Rockfire Resources Plc (LON:ROCK) has commenced reverse circulation drilling at the Marengo gold-copper project in Queensland, Australia.

OptiBiotix Health plc (LON:OPTI) has signed a non-exclusive licence agreement with Taiwanese probiotics firm Bened Biomedical Ltd to produce and market products containing its cholesterol and blood pressure-reducing LPLDL strain in the country.

UK Oil & Gas PLC (LON:UKOG) has told investors that the Portland reservoir test in the Horse Hill well has been successfully completed - with analysis of flow results suggesting a rate of 362 barrels of oil per day would be possible when full-scale production starts. Alba Mineral Resources PLC (LON:ALBA) holds a 18.1% in Horse Hill Developments Limited, the company which has a 65% participating interest and operatorship of the Horse Hill oil and gas project. Solo Oil PLC (LON:SOLO) last month has agreed sell its entire 15% interest in Horse Hill Developments Limited to UK Oil and Gas for a total cash consideration of £4.5mln together with a simultaneous purchase of 234,042,221 new ordinary share in UKOG equivalent to a 4.2% interest in the explorer.

Sareum Holdings Plc (LON:SAR) has selected a candidate molecule to take through the clinic which it thinks has the potential to become a new, "potentially best-in-class" treatment for autoimmune diseases.

Flying Brands Ltd (LON:FBDU) has a “high expectation” that US regulators will give the thumbs-up to its kidney stone medical imaging software StoneChecker.

Feedback plc (LON:FDBK) has announced that its operating company Feedback Medical Ltd has received an order from its South Korean distributor for its patented image texture analysis technology, TexRAD for the Samsung Medical Centre in Seoul. The specialist medical imaging technology company said the order came via its South Korean distributor, Korea Computer Motion ISG.

Flying Brands Ltd (LON:FBDU) has a “high expectation” that US regulators will give the thumbs-up to its kidney stone medical imaging software StoneChecker.

The US Food and Drug Administration has granted investigational new drug clearance for AP101 - Amryt Pharmaceuticals PLC’s (LON:AMYT) skin disorder treatment.

Property investment firm Custodian REIT PLC (LON:CREI) has purchased an industrial unit in the Hilton Business Park in Derby, which it has leased to aircraft maker Daher Aerospace Limited.

Commodity trading software group Brady Plc (LON:BRY) cut its losses as the benefits of restructuring measures taken last year started to come through. “We are doing exactly what we said we would, including an investment in new products, the removal of costs, creating long-term solutions with the customer at the centre and a continual transition away from the group's legacy contract model,” said Ian Jenks, executive chairman.

Cradle Arc Plc (LON:CRA) has entered into a joint venture with Mukuyu Resources (Mali) LTD for the exploration and development of Cradle Arc's 137 square kilometre Kossanto West gold project in western Mali.

W Resources PLC (LON:WRES) has highlighted progress on its Iberian tungsten and gold assets during commentary attached to interim results. La Parrilla is fully funded to production, and construction is now well underway.

Columbus Energy Resources PLC (LON:CERP) told investors that a licence extension has been granted for the Cory Moruga block, which will now run to 2032. The block is owned by Steeldrum Oil Company which is being acquired by Columbus, due for completion later this year.

Block Energy Plc (LON:BLOE) has agreed a deal with a drill contractor for a new programme of well drilling and well workovers in the Republic of Georgia. It has entered into a non-binding memorandum of understanding with JSC Norio Oil Company (NOC) for the programme which will span the group’s three licence areas – Norio, Satskhenisi and West Rustavi.

US Oil & Gas Plc (LON:USOP) told investors that preparations are underway for flow testing at the Eblana-3 well at the Hot Creek Valley project in Nevada. The company, in a stock market statement released on Friday evening, provided a detailed update on operations as it works to clear two of six zones in the well for testing.

Metal Tiger PLC (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, announced that it has purchased, on market, 94,178 shares in MOD Resources Limited (ASX:MOD) at an average price of A$0.425 per share. Metal Tiger’s holding in MOD is 13,974,220 representing 6.1% of the issued share capital in MOD.

hVIVO PLC (LON:HVO) said it has been notified that Woodford Investment Management Ltd has increased its shareholding in the company to 28.00% from 27.94%.

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...

12 hours, 59 minutes ago