Proactive news snapshot: Richland Resources, Kromek, Powerhouse Energy, Allergy Therapeutics …

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

Your daily round-up from the world of Proactive

Richland Resources Ltd (LON:RLD) told investors it has entered into an option deal to sell the Capricorn sapphire project to Fura Gems Inc (CVE:FURA), which if exercised will effectively leave the AIM-quoted firm as a cash shell. Fura is to pay a C$150,000 option fee - of which C$125,000 must be loaned by Richland to the Capricorn subsidiary interest-free - and, upon exercise, a further US$185,000 of cash would be paid along with 4.85mln Fura shares. Some additional future payments would also be due.

A confident Kromek Group PLC (LON:KMK) predicted further growth ahead as annual revenues rose by more than a fifth and underlying profits jumped four-fold. Momentum is strong across all business areas of nuclear detection, medical scanners and security screening said Arnab Basu, chief executive.

Interest in its energy from waste technology is 'overwhelming' as concern over waste plastic grows, Powerhouse Energy Group PLC (LON:PHG) said today. A commercial plant using Powerhouse’s DMG process will come onstream at the Protos Energy Park in the next few months.

e-therapeutics (LON:ETX) saw its shares jump 34% higher to 2.35p in late afternoon trading as a share overhang created by Woodford Investment Management’s need to liquidate some assets was further cleared, with a major holdings notice showing the blighted fund manager’s firm now owns less than 5% of the drug discovery group. A holding form published on Wednesday showed Woodford Investment Management had then reduced its holding in e-therapeutics to 6.67% from 14.11%, after the previous day having revealed a cut in its investment back from 17.89%.

Allergy Therapeutics PLC (LON:AGY) blew higher on Thursday after the vaccines maker revealed full-year earnings will be ahead of forecasts. There was more good news for investors, who were also told that the AIM company has received a multi-million-dollar settlement over a botched clinical trial back in 2016.

ARC Minerals Ltd (LON:ARCM) has updated investors on its maiden drill programme at the Cheyeza East project in Zambia. The explorer noted that the first two holes have now been completed and visible mineralisation was intersected in both holes.

Polarean Imaging PLC (LON:POLX) said it remained “confident and excited for the future” as it reported slightly higher revenues and lower costs than expected for the past calendar year. The AIM-listed company is currently taking its drug-and-device technology through late-stage clinical trials and said it is “on track” to apply for regulatory permission in the US next year and deliver first commercial sales by end of the year.

Out-of-home virtual reality specialist Immotion Group PLC (LON:IMMO) is to open a VR entertainment zone in London’s O2 Arena. The 12-station VR zone includes the first installation of Immotion’s new VR Arena – a four-person shooting experience which features the global number one interactive VR game, Raw Data.

ITM Power PLC (LON:ITM) has announced the opening on Wednesday of the Hystock green hydrogen plant in Veendam near Groningen in the Netherlands, managed by Dutch natural gas infrastructure and transportation company Gasunie.

Greatland Gold PLC (LON:GGP) has commenced early stage exploration at its  Panorama project in Western Australia with field reconnaissance and surface geochemical work. Additionally, a detailed, low level aeromagnetic survey covering the entire Panorama project area is scheduled to begin next month.

Sativa Group PLC (NEX:SATI) subsidiary PhytoVista Laboratories has discovered instances of poor practice among producers of cannabidiol (CBD) products for the retail market. The UK lab conducted a blind test of 30 major retail CBD oil brands for The Centre for Medicinal Cannabis.

Red Rock Resources PLC (LON:RRR) has made recent progress with key assets in the Democratic Republic of Congo and Kenya. In an update on its interests in Africa, the group said is planning a low-cost programme of geophysics and pitting at its Congo Galaxy joint venture to define mineralisation potential and decide drill targets.

Minds + Machines Group Limited (LON:MMX) has announced that domain name regulator ICANN is to introduce a new blocking service that will allow trademark holders to better protect their naming rights across the .xxx, .sex, .porn and .adult four top level domains (TLDs). MMX acquired the four adult-themed domains last year through its acquisition of ICM Registry.

Tekcapital PLC’s (LON:TEK) portfolio firm, Guident Ltd, has acquired a new IP from Florida International University to remotely control autonomous cars and drones.

Nektan PLC (LON:NKTN) has launched a new mobile-first bingo product across its business-to-customer white label casino network of sites. The new product, provided by Pragmatic Play, is aimed specifically at mobile players and includes a unique in-game lobby system.

BlueJay Mining PLC’s (LON:JAY) Dundas minerals sands project in Greenland is worth US$83mln over a nine-year mine life according to a pre-feasibility study. Costs to build the mine and infrastructure are estimated at US$245mln.

Victoria Oil & Gas PLC (LON:VOG) delivered a sharp rise in average gas production in the second quarter compared to a year ago, supported by the restart of supply into a gas-fired power plant. Following the resumption of supply to Cameroon state utility ENEO in December, VOG’s Gaz du Cameroun (GDC) business produced average gas of 9.72mln cubic feet of gas per day (mmscfd ) in the second quarter, compared to 3.3 mmscfd a year ago.

Argo Blockchain PLC (LON:ARB) had extended a multi-year agreement with GPU.one, a Canadian data centre provider that will allow it to expand its cryptocurrency mining capacity and cut costs.

Sierra Oncology is exploring non-dilutive strategic options to support the continued development of its portfolio of DNA damage response (DDR) assets, including SRA737. SRA737, which is a checkpoint kinase 1 (Chk1) inhibitor, was originally discovered by Sareum Holdings PLC (LON:SAR) before Sierra licensed it back in 2016.

Crossword Cybersecurity Plc (LON:CCS) told investors that its Rizikon Assurance business has been selected by the Nursing and Midwifery Council (NMC). Rizikon will automate supplier onboarding process and manage ongoing supplier risk for the group, which represents more than 690,000 nurses, midwives and nursing associates in the UK.

Integumen PLC’s (LON:SKIN) turnaround under new boss Gerry Brandon has been reflected in the cosmetics testing group’s full-year results. Revenue, including sales from discontinued operations, doubled to £501,000 in the 12 months ended 31 December 2018 (2017: £238,000).

Graphene specialist Directa Plus PLC (LON:DCTA) has been awarded a patent in the US for its manufacturing process that just uses water with no chemicals, solvents or surfactants. Directa said this sustainability was already proving attractive to US companies.

Haydale Graphene Industries PLC (LON:HAYD) has switched on its plasma functionalisation reactor at the Graphene Engineering and Innovation Centre (GEIC), based at The University of Manchester. Haydale's HDPlas reactor is a rapid way to apply graphene and other carbon-based materials to other surfaces.

Mosman Oil And Gas Ltd (LON:MSMN) has confirmed that drilling on a third well at its part-owned Stanley project in Texas is to begin in August. AIM-quoted Mosman, which has a 16.5% working interest in the Stanley-3 well, said it will fund its share of the drilling costs from existing cash reserves.

Revenue at Itaconix Plc (LON:ITX) jumped by 20% last year, and the specialty polymers maker is targeting even stronger growth in 2019.

Rainbow Rare Earths Limited (LON:RBW) has said a Competent Person's Report (CPR) received from MSA, dated 4 June 2019, has increased the estimation of the group’s high grade rare earth vein tonnages by 30% at the mid-point of the range, even taking into account depletion from recent mining production.

Erris Resources PLC (LON:ERIS) has highlighted that it has been active over the first half of this year as it advanced projects in Finland, Sweden and Ireland. The company, in its half yearly project update, noted that field work has started in Finland as part of its strategic alliance with Centerra Gold. Centerra has also funded mapping and prospecting on new targets in North Sweden.

Active Energy Group PLC (LON:AEG) said it achieved several developmental milestones in 2018. These milestones included completing the construction of the first plant for CoalSwitch, a biomass-based fuel that uses waste wood normally left to decompose following forestry operations.

AdEPT Technology Group PLC (LON:ADT) has appointed Richard Bligh, the former chief operating officer of Gamma Communications PLC as a non-executive director of the company with immediate effect and named a chief operating officer.

FairFX Group PLC (LON:FFX), the e-banking and payments group, has changed its name to Equals Group Plc (LON:EQLS) with effect from the start of trading on Thursday. Big Pic in May.

SigmaRoc PLC (LON:SRC) announced that David Barrett, its executive chairman of SigmaRoc, purchased 440,000 ordinary shares in the company at a price of 44.0p each, taking his total holding to 1,687,836 ordinary shares, representing 0.97% of the company’s total voting rights. The group added that its CEO Max Vermorken has also purchased 60,000 ordinary shares at a price of 44.0p each, taking his total interest in the company to 391,983 ordinary shares, representing 0.23% of the total voting rights. And it said Tim Hall, a non-executive director purchased 150,000 ordinary shares at a price of 44.0p each taking his total interest in the company to 150,000 ordinary shares, representing 0.09% of the total voting rights.

Avation PLC (LON:AVAP), the commercial passenger aircraft leasing company, announced the sale of a 2003 built Airbus A320 aircraft, a move consistent with the group’s policy of selling older aircraft in order to maintain a low average fleet age. Avation's executive chairman, Jeff Chatfield commented: "We are pleased to conclude the sale of this sixteen-year-old aircraft in order to maintain a low average fleet age and to realise an additional gain from aircraft trading in the current financial year. The sale was concluded at a satisfactory premium to book value."

Amphion Innovations PLC (LON:AMP) shares will be temporarily suspended from Monday whilst the life sciences investor sorts its 2018 accounts out. According to AIM rules, companies must publish their annual results within six months. Those which don’t have their shares suspended from trading until the accounts are signed off and published.

Kore Potash PLC (LON:KP2) said that, as part of the company's cost reduction strategy, its non-executive directors have offered to be paid some or all of their respective fees (excluding superannuation entitlements) through the issue of fully paid ordinary shares in lieu of cash payments, up to a maximum of US$411,500 worth of shares. The firm added that it is proposed that this remuneration arrangement apply in relation to directors' fees that accrue from 1 July 2019 to 30 June 2020.

Location Sciences Group PLC (LON:LSAI), the pre-eminent global location verification provider has announced the appointment of Shore Capital and Corporate Limited as its nominated adviser and Shore Capital Stockbrokers Limited as its sole broker, with immediate effect. This follows the acquisition of Stockdale Securities by Shore Capital.

Touchstone Exploration Inc. (LON:TXP) (TSX:TXP) said the temporary restriction on the transfer of the shares from its placing announced in February into Canada for a period of four months and one day has lapsed from today and, consequently, all of the company's common shares are now freely transferable on the Toronto Stock Exchange. Touchstone is using the net proceeds of the private placement to fund the first exploration well on its Ortoire property.

Asiamet Resources Limited (LON:ARS) said a copy of its updated company presentation, which includes the key Feasibility Study metrics for the BKM copper project, located in Central Kalimantan, Indonesia, together with additional Value Enhancement Opportunities including exploration potential in close proximity to the BKM mine, has been uploaded to the company website.

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