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Proactive news snapshot: Xpediator, Kibo Energy, Mirada …

A glance at some of the day's highlights from the Proactive Investors newswire

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Freight forwarder Xpediator PLC (LON:XPD) believes its services will be “critical” for companies looking to move goods in and out of the UK post-Brexit. The company confirmed on Monday (29 April) that revenue rose by 54% to £179.2mln in the year ended 31 December 2018. Pre-tax profits more than doubled to £5.6mln.

Kibo Energy PLC (LON:KIBO) told investors that it has received formal notice from the Tanzanian authorities inviting it to develop the Mbeya coal-to-power project. TANESCO, the Tanzania Electric Supply Company, has asked the company to develop the project for export market which, Kibo highlights, allows the company to engage with the African Power Pools regarding off-take agreements.

Mirada PLC (LON:MIRA) said it expects to break even at an underlying level as the over-the-top TV software designer generated higher revenues than expected over the past 12 months.

Tlou Energy Limited (LON:TLOU) highlighted its three key priorities as it updated investors with its quarterly operations update. Confirming gas flows at the Lesedi coal bed methane project is among them, following the recent completion of drilling activities which created the basis of the company’s first production pods – testing operations are presently underway. 

HemoGenyx Pharmaceuticals PLC (LON:HEMO) said progress is continuing  towards the submission of an Investigational New Drug for the biopharmaceutical company's lead product candidate, a CDX antibody, as it unveiled its results for the year ended 31 December 2018.

OptiBiotix Health PLC (LON:OPTI) said expects commercial traction and revenues to grow after signing a raft of deals for its health products. Having developed new strains of bacteria that target the gut microbiome to tackle conditions such as high cholesterol, diabetes and obesity, it has seen significant commercial demand for its technology.

Avation PLC (LON:AVAP) has acquired and leased its fifth Airbus A220-300 aircraft to Latvian carrier airBaltic.

Faron Pharmaceuticals Ltd (LON:FARN) said a separate Japanese study effectively confirmed the results of an earlier phase III trial of its Traumakine drug for people with acute respiratory distress syndrome (ARDS). In other words, it did not reduce mortality or increase the number of ventilator-free survival days when compared to placebo.

ClearStar Inc (LON:CLSU) has announced a further extension to a contract for its financial institution screening capabilities with a customer that provides outsourcing services.

University technology investment group Tekcapital PLC (LON:TEK) has confirmed its portfolio company, Guident, has filed for a new patent with US regulators.

Polarean Imaging Plc (LON:POLX) has appointed the former chief financial officer (CFO) of an oncology therapeutics firm as its new finance boss. The medical imaging firm said Charles (Chuck) Osborne, Jr, who joins the company from Innocrin Pharmaceuticals Inc, would begin the role with immediate effect and will replace outgoing CFO Bill Patrick, who would take up the post of financial controller at Polarean Inc, the group’s subsidiary.

Sound Energy PLC (LON:SOU) has told investors that a required piece of equipment has now arrived on site in Morocco, and, it will now advance testing programmes on the TE-10 well. With the receipt of coiled tubing, the company will work to start a programme of unstimulated tests, followed by stimulated flow tests.

Europa Oil & Gas Holdings PLC (LON:EOG) told investors that a public inquiry will take place in November to hear an appeal against last year’s denial of planning permission to the Wressle field. The new hearing is expected to start on 5 November and will last around 5 days.

Union Jack Oil PLC’s (LON:UJO) executive chairman David Bramhill said he is looking forward to a fair hearing over the Wressle oil field project, which was previously denied planning permission.

Anglo Asian Mining (LON:AAZ) has revealed the results of extensive exploration on its Azerbaijan properties. Follow-up work on the most promising targets is now getting underway. Big Pic in December.

Alba Mineral Resources plc (LON:ALBA) has revealed its first batch of results from the Clogau Gold project in north Wales. Initial results comprise some 525 samples from 1,200 taken from the within the 107 square kilometre licence area.

Vast Resources PLC (LON:VAST) said it has now received a draft indicative term sheet from a Swiss bank for loan finance of up to US$10mln to be used in connection with the company’s Romanian projects. The AIM listed mining company added that the monies will also be used for full repayment of the US$4mln plus accrued interest owed by the company under the Mercuria Prepayment Agreement.

Eurasia Mining plc (LON:EUA) expects to resume operations at the West Kytlim alluvial site in Russia in the next two weeks. A gravity separation device has been installed to improve recoveries of platinum.

Mkango Resources Ltd (LON:MKA, CVE:MKA) has unveiled a new partnership deal with MetalNRG PLC which is committing to spend US$2mln on exploration at the Thambani uranium project, in Malawi. MetalNRG will earn up to 75% of Thambani as it invests in the project.

Metal Tiger PLC (LON:MTR) has reported an update on infill drilling at the T3 copper project in Botswana. T3 is owned by MOD Resources (LON:MOD), in which Metal Tiger holds a 10.48% stake.  Since commencement of the infill drilling in January 2019, 49 of the planned 60 hole programme have now been completed at T3, with the remaining 11 holes expected to be completed by the end of the first half of 2019.

Base Resources Ltd. (LON:BSE) boosted its net cash position by US$800,000 during the third quarter to March 2019. Operational cashflow rang in at US$16mln, but the company then spent a refundable US$2mln on VAT, and US$13.2mln on capital projects.

Thor Mining PLC (LON:THR) remains confident about securing partners for its Molyhil tungsten project in Australia’s Northern Territory. Mick Billing, executive chairman, said interest currently ranges from offtake deals to joint venture arrangements and debt.

Ncondezi Energy Limited (LON:NCCL) has reassured investors over the development agreement (JDA) for its thermal power station project in Tete, Mozambique. Michael Haworth, chairman, said significant progress had been made with its partners China Machinery Engineering (CMEC) and GE South Africa, adding that the final JDA draft is expected at any moment.

Kore Potash PLC (LON:KP2) has switched tack in the Republic of Congo to a smaller potash project at the Dougou Extension (DX) site. Until now Kore Potash had focused on the much larger Kola project, but said it would require substantially lower investment to get DX up and running.

OPG Power Ventures PLC (LON:OPG) has reported that full-year profits are likely to be on target as the India-focused power generation group drove up tariffs for its captive customers.

KRM22 PLC (LON:KRM22) said its KRM22 Central Limited subsidiary has entered into a new five-year debt facility with Harbert European Growth Capital Fund II to support future business growth and allow it to pursue a pipeline of investment targets. The AIM-listed firm said the facility is for up to €11.55mln (around £10.0mln) of which an initial £1mln will be drawn down immediately.

Oriole Resources PLC (LON:ORR), the AIM-quoted exploration company operating in Africa and Europe, said it has now received a repayment of £522,000 from Her Majesty's Revenue and Customs following the positive resolution of its VAT dispute last year. Bob Smeeton, Oriole’s chief financial officer, said: “The end of the dispute allows us to reduce professional advisor fees and provides funds for our continued exploration operations."

Anglesey Mining PLC (LON:AYM) has raised £200,000 in a placing of just over nine million new shares at 2.135p each.  The placing price represents a discount of approximately 9.1% on the previous closing price.

i3 Energy PLC (LON:I3E) said its 2019 drilling programme remains on track to commence mid-summer as its debt financing plans for the programme continue to progress. The AIM-listed independent oil and gas company, with assets and operations in the UK focused on the North Sea, said the junior debt facility with warrants, announced on 1 March, which will be used to partially finance the programme continues to progress to legally binding loan documentation.

Oracle Power Plc (LON:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in the south-eastern Sindh Province of Pakistan, said that as part of the China Belt and Road Summit held in Beijing 27-28 April 2019, the Memorandum of Understanding agreed between its Chinese partners, Beijing Jingneng Power Company Limited and PowerChina International Group Limited, announced on 27 March 2019,  has been ceremonially signed by the parties.

WideCells Group PLC (LON:WDC) said it has received  a further notice of exercise from European High Growth Opportunities Securitization Fund in respect of its conversion rights for its convertible bonds for the aggregate principal amount of £320,000, together with aggregate penalty payments of £80,000, resulting in the issue to the investor of 200,000,000 new ordinary shares.

Midatech Pharma PLC (LON:MTPH) (NASDAQ:MTP) said at the close on Friday that, further to its announcement on 3 May 2018, it received written notification on 23 April 2019 from NASDAQ that for the last 10 consecutive business days, from April 8 to April 22 2019, the closing bid price of the company's American Depositary Shares had been at $1.00 per share or greater and, accordingly, the company has regained compliance with NASDAQ Listing Rules.

W Resources PLC (LON:WRES) said it has been informed by its registrars that Hansource Investments Ltd, a significant shareholder in the company with a holding of 333,333,333 ordinary shares representing an interest of 5.56% of the total voting rights, transferred its entire holding first to Lynchwood Nominees and then in turn to Aurora Nominees, an existing shareholder in W Resources. Following these and subsequent transfers, the group noted, Aurora's holding now totals 15,754,999 ordinary shares representing an interest of 0.26% in the total voting rights of the company. It said neither Hansource or Lynchwood now have a notifiable direct holding of ordinary shares in the company.

Lionsgold announced that at the extraordinary general meeting of the company held today all resolutions were duly passed, including the resolution to approve a change of the Company's name to TALLY LTD. In anticipation of the company having its shares listed again, the ticker 'TALY' has been reserved.

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