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Proactive news snapshot: Kibo Energy, W Resources, Sativa Investments …

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

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Kibo Energy PLC (LON:KIBO) said an independent Base Case Financial Model has been completed for its 65%-owned Benga Power Plant in Mozambique, with initial findings demonstrating the economic robustness and viability of the project.

W Resources PLC (LON:WRES) has announced the formal signing of a mining contract with General de Maquinaria y Excavación (GME) for the La Parrilla tungsten project in Spain. A mining fleet, comprising three 60-tonne haulage trucks, is now in place at La Parrilla along with a Liebherr excavator and other auxiliary equipment.

Sativa Investments PLC (LON:SATI) has agreed a commercial offtake agreement with a Swiss supplier of cannabis oil for the manufacture of cannabidiol (CBD) products in the UK. Big Pic in April.

BlueRock Diamonds PLC (LON:BRD) has recovered its largest diamond to date.  The diamond is a 24.98 carat gem quality stone, which will be shortly put to tender with the results to be released on June 12.

Anglo African Oil & Gas PLC (LON:AAOG) has highlighted new third party analysis of the Tilapia oil field’s Djeno horizon, with a report revealing “very encouraging” findings to the Company. AAOG also updated on production from the Tilapia field’s TLP-103C well which has continued to flow oil to surface under its own pressure with minimal water content.

African Battery Metals Plc (LON:ABM) has updated investors on its ongoing exploration at the Kisinka copper-cobalt project, in the Democratic Republic of Congo. The Company has been undertaking field operations including sample testing (across 663 samples) and preliminary analysis identified a 7 kilometres zone anomalous for copper.

Afarak Group PLC (LON:AFRK) breathed a sigh of relief after Finnish authorities ordered a special audit of the chrome producer's accounts that was not as bad as feared. The Regional State Administrative Agency for Southern Finland has ordered Idman Vilån Grant Thornton Oy to conduct the audit of Afarak’s accounts for financial periods between 2015 and 2018.

In a separate announcement, Afarak also said that the public tender offer for a maximum of 26mln of its own shares will commence on June 10 2019, and expire on 1 July, with the offer price set at €1.015 per share.

Braveheart Investment Group PLC (LON:BRH) has updated on its investment portfolio and accounts ahead of the release of its final results.

Sure Ventures PLC (LON:SURE) said it has raised gross proceeds of £292,999.68 by way of a private placing of ordinary shares have been issued at 96p each. After the costs and expenses of the issue, the placing price represents a premium to the group’s last published NAV of 83.03p per share.

Impax Environmental Markets PLC (LON:IEM) announced on Thursday that it has appointed Stephanie Eastment as a non-executive director of the Company with effect from 1 July 2019. It said Eastment, a chartered accountant and Company secretary with over 30 years' experience of the financial services industry, retired as Head of Specialist Funds Company Secretariat and Accounts at Invesco in 2018.

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