Economic and Market News for 20 May 2019
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20 May
15:07Quadrise Fuels terminates partnership with Rafid in Saudi ArabiaQuadrise Fuels International said it had terminated an agreement with M/S Rafid Group for Trading & Contracting in Saudi Arabia designed to develop its alternative fuel products. The...
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20 May
15:01Bacanora Lithium agrees to sell 30% stake in company to China's GanfengBacanora Lithium said it had signed a non-binding agreement for China's Ganfeng Lithium to buy a 30% interest in the company for around £14.4m and separate 22.5% direct shareholding in its Sonora...
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20 May
14:43Ariana Resources boosts sales at Kiziltepe mine in TurkeyAriana Resources boosted sales from its Kiziltepe mine in Turkey in the first quarter after lower production was offset by higher precious metal prices. Gold output for the three months through...
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20 May
14:38Ascent Resources buys compressor unit for Petisovci project in SloveniaAscent Resources said it had signed a contract for the purchase of a mobile compressor unit for its Petisovci project in Slovenia. The supplier was expected to install and commission the unit in...
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20 May
14:35Bezant Resources gets environmental approvals for Eureka project in ArgentinaBezant Resources said that updated environmental impact assessment approvals for its Eureka project in Argentina had been granted by Jujuy province's director of mining and energy resources. The...
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20 May
14:19AFC Energy completes ammonia-to-power system trialAFC Energy said it had successfully completed an 18-month trial of an ammonia-to-power system. The company also confirmed plans to conclude work on the business case for an integrated, scalable...
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20 May
13:50Equatorial Palm Oil JV sources new $20m loan from Kuala Lumpur KepongEquatorial Palm Oil said half-owned joint venture company Liberian Palm Developments had entered into a loan agreement of up to $20.0m with a subsidiary of Kuala Lumpur Kepong Berhad. The loan had...
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20 May
13:47Katoro Gold gathers positive soil sampling results for Haneti project in TanzaniaKatoro Gold said the results of the soil sampling programme at the Haneti nickel project in Tanzania had confirmed its exploration prospectivity. The results had reconfirmed, and extended the...
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20 May
13:43Trafalgar Property completes sale of site in SurreyTrafalgar Property Group said the sale of its site in Ewell, Surrey, had been completed, generating a gross profit of £300k. The net proceeds from the sale, which was first announced last month,...
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20 May
13:16African Battery Metals commences exploration activities in CameroonAfrican Battery Metals said exploration activities had commenced at its cobalt and nickel project in Cameroon. The company said it would undertake pit excavation programme to a maximum depth of...
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20 May
13:07Purplebricks appoints Phil Felice as CEO of US businessEstate agent Purplebricks Group said it had appointed Phil Felice as interim chief executive of its US business. Felice was the company's US sales head from 2017-to-2019 and was appointed and was...
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20 May
10:10Golden Saint Tech to enter into joint venture with Siam Motors to build data centre facility in ThailandTechnology investment company Golden Saint Tech signed a letter of intent with Siam Motors to enter into a joint venture to build, own and operate a tier three data centre facility in Pattaya and...
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20 May
09:47AB Dynamics to raise gross £50.1m through placing to finance acquisitions, shore up balance sheetAB Dynamics announced plans to raise up to approximately gross £50.1m to to finance potential acquisition opportunities and shore up its balance sheet. The company said it planned to raise...
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20 May
09:42Iofina to raise funds through placing shares at discountIofina announced plans to raise up to £7.5m through the placing of shares at a discount in an effort to accelerate its plant upgrading programme and pay down debt. The issue price of 16p of the...
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20 May
09:33Panthera Resources receives confirmation of transfer of funds from GalaxyPanthera Resources said it had received documents indicating it would receive funds owed by Galactic Gold Mines Private, or Galaxy. 'Panthera has received documents forwarded by Galaxy confirming...
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20 May
09:25Allergy Therapeutics says dust mite treatment meets primary objectiveAllergy Therapeutics announced positive clinical results of its dust mite allergy treatment . The AM101 trial assessed the safety and tolerability of the company's Acarovac injection to...
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20 May
09:12Saint-Gobain agrees to sell Saint-Gobain Building Distribution Deutschland to Stark group in €335m dealSaint-Gobain signed an agreement for the sale of its entire stake in Saint-Gobain Building Distribution Deutschland to the Stark group, in a deal valued at €335m. The sale comes as the company...
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20 May
09:10Scancell, Cancer Research UK advance trials of potential treatmentScancell Holdings said government body Cancer Research UK was planning a clinical trial to to investigate a cancer treatment is was developing jointly with the company. Cancer Research UK was...
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20 May
08:58EFG Hermes enters Vietnam markets after teaming up with Asia Commercial Bank SecuritiesFinancial services company EFG Hermes signed a partnership agreement with Asia Commercial Bank Securities of Vietnam, allowing the company's clients to receive on-ground access and intelligence to...
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20 May
08:37StatPro wins three-year contract extension with fund administratorPortfolio analytics and asset pricing services provider StatPro Group said it had secured a three-year contract extension with a 'top 20 fund administrator' with a minimum value of £2.4m. The...
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20 May
08:34Pantheon Resources analysis points to 'superior' reservoir quality at Alaska wellPantheon Resources said further analysis of the Alkaid discovery located on the Alaska North Slope indicated that its reservoir quality was 'greatly superior' to pre-drill estimates. Alkaid was...
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20 May
08:33CentralNic to acquire Sydney-based TPP Wholesal for AUD $24mCentralNic Group entered into a conditional agreement to acquire Sydney-based business TPP Wholesale, $24m AUD. TPP Wholesale, the platform for resellers of domain names and hosting in...
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20 May
08:27WYG agrees to be acquired by Tetra Tech for £43.4mProject management and technical consultancy WYG said it had agreed to be acquired by Tetra Tech for £43.4m. WYG shareholders would receive 55p for each of their shares, which WYG said represented...
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20 May
08:16Science Group acquires 9% stake in Frontier but withdraws takeover bidScience Group said it had acquired a 9% stake in digital radio and smart Internet of Things devices company Frontier Smart Technologies Group for around £461k, but withdrawn a full takeover bid for...
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20 May
08:08Ten Lifestyle wins contract in technology, media sectorTravel and lifestyle platform for the wealthy Ten Lifestyle Group said it had won a three-year contract with 'a global brand' in the technology, media and telecom sector. The service was expected...
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20 May
08:05LXi REIT launches £100m share issue to fund property purchasesLXi REIT launched a share issue to raise around £100m to fund the purchase of further property assets. New shares in the company would be issued at 118p each, a 9.5% discount to their closing...
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20 May
08:05Kazatomprom sells 75% stake in KazPV projectKazatomprom sold its 75% stake in the KazPV project, including Astana Solar, Kazakhstan Solar Silicon and KazSilicon assets, to a consortium of strategic investors. The sale of Kazatomprom's...
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20 May
08:00SolGold estimates Alpala prospect in Ecuador will cost up to $2.8bn to developSolGold said a new assessment indicated that the Alpala copper, gold and silver deposit at the Cascabel project in northern Ecuador could cost between $2.4bn and $2.8bn to develop. The estimate...
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20 May
07:59ICG-Longbow receives payment on £22.4m loanICG-Longbow Senior Secured UK Property Debt Investments said a borrower under the group's commercial regional space loan had repaid a £22.4m loan together with accrued interest and exit fees of...
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20 May
07:54Sealand Capital Galaxy subsidiary wins contract with TenetSealand Capital Galaxy said 55%-owned subsidiary New Sky Global had signed a contract with Tenet. The contract was expected to earn revenues of RMB 4,500,000 (around £510,300) for New Sky Global,...
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20 May
07:45PRS REIT adds £200m to its debt facilitiesPrivate rented sector home investor PRS REIT said it had approved a further £200m of debt facilities with Scottish Widows and Lloyds Bank. The facilities were negotiated by the company's...
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20 May
07:43Rockfire Resources gathers promising soil results at Australia gold prospectRockfire Resources said recent soil sampling at the Cardigan Dam prospect at the Lighthouse tenement in Australia's Queensland state had returned a promising gold-in-soil anomaly. Two broad...
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20 May
07:39Reabold Resources portfolio wells in California achieve commercial flow ratesReabold Resources said two wells in its California portfolio had achieved commercial flow rates. Contract operator Integrity Management Solutions had informed the company that a perforating and...
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20 May
07:36OptiBiotix Health inks licence agreement with Italy's NutrilineaOptiBiotix Health said subsidiary ProBiotix Health had signed a license agreement with Nutrilinea for the use of the company's technology in a food supplement for the reduction of high blood...
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20 May
07:19GCP Infra enters £64m investment commitment to fund UK wind projectListed Infrastructure investor GCP Infra made a conditional commitment to invest in two new loan notes for about £64m to fund a UK-based wind project. The loan notes, if issued, would be used to...
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20 May
07:15Syncona starts new company Quell Therapeutics with £35m commitmentSyncona said it had founded new cell therapy company Quell Therapeutics with a £35m commitment in a funding round. Syncona said it committed £34.0m with a further £1.0m being contributed by UCL...
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20 May
07:12Provident Financial investor Schroders urges others to reject Non-Standard Financial bidProvident Financial shareholder Schroders has urged other investors in the sub-prime lender to reject Non-Standard Finance's hostile takeover bid. 'We have noted the announcement from NSF that its...
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20 May
07:08Unite Group fund raises £250m; makes £111m acquisitionStudent accommodation developer Unite Group said its Unite UK Student Accommodation Fund had raised £250m of new equity from external investors. Unite said it had also agreed to sell three assets...