Proactive news summary, including ANGLE, 3Legs Resources, Tekcapital, Tangiers Petroleum and Fastnet


ANGLE’s (LON:AGL) shares rose over 22% today after a clinical study of its Parsortix system for harvesting circulating tumour cells has hailed its “unprecedented sensitivity and specificity” in identifying ovarian cancer.

The device was used in harness with RNA markers by the Medical University of Vienna and was very accurate in picking up the tell-tale signs of the killer disease and then identifying the strain.

Also in a mixed news bag was Tekcapital (LON:TEK), which has acquired the exclusive worldwide licence for a process that makes baked products taste like they have been fried.

The process reduces the fat content in the finished product by some 60%, thus enabling baked products to successfully substitute for higher fat content fried foods. Tekcapital shares rose almost 4% on the day.

Speaking of risers, 3Legs Resources (LON:3LEG) leapt 75% as the company revealed that £1.1mln will be returned to shareholders.

3Legs’ main subsidiary is in the process of being wound up. It estimates the costs to be £100,000.

Investors will receive the remaining £1.1mln of cash which equates to 1.28p per share.

To oil and Tangiers Petroleum (LON:TPET) recapped an eventful quarter that saw it acquire new acreage in Alaska and subsequently define some 431mln barrels of potential recoverable resources.

The first step in the group’s repositioning, in November, saw Tangiers acquire an 87.5% interest in Project Icewine, 99,360 onshore acres in the prolific North Slope of Alaska.

Accumulate Energy Alaska, a subsidiary of Tangiers, will become the operator upon formal award of the project. This milestone is expected in the second quarter.

At the end of the quarter, December 31, Tangiers had A$779,000 of cash reserves.

Meanwhile, Fastnet’s (LON:FAST) new chief executive has made more changes to the oil explorer’s senior management in the wake of the slide in crude prices.

Chief financial officer Will Holland’s contract has been terminated, with Ross Crockett, the company's financial controller for the last three years, to handle financial affairs going forward. 

Michael Lynch has also been appointed investor and public relations manager.  

Carol Law, who took over as CEO in December, said: “Difficult decisions have to be taken in the current climate."

In mining, Noricum Gold (LON:NMG) has completed its latest three drill holes under the Alps in Austria, with grab samples indicating more high grades.

The drilling was across two targets, Weissenbachgraben and Brunngraben, at Schonberg. All three holes reached their target depths.

Elsewhere, contractor Greka Drilling (LON:GDL) expects 2015 will see a significant step up in activity, especially from the second quarter onwards when a new contract with Green Dragon gets underway.

“The company has received mobilisation orders for the 30 LiFaBriC well programmes for Green Dragon Gas in China and the Essar contract for the 100 wells in India is well underway," Randeep Grewal, Greka’s chairman and chief executive, said.

Forte Energy (LON:FTE, ASX:FTE) shares have been suspended on AIM today ahead of an announcement concerning its Slovak projects.

Last year the firm acquired 50% of European Uranium’s two projects in Slovakia.

"The suspension is in place  in order  for  the company to finalise its market announcement having received the JORC resource  estimate for its Slovak projects," the firm told a brief regulatory statement.

International Mining & Infrastructure Corporation (LON:IMIC) has received the  final US$0.5mln from a US$2mln share subscription agreed in December. The share issue comes with warrants exercisable at 10p.

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