Economic and Market News for 20 August 2019
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20 Aug
14:54Xtract Resources records positive test results at Kalengwa copper play in ZambiaXtract Resources said it had collected positive assay results from preliminary sampling of mine tailings at the Kalengwa copper project in Zambia. Sampling yielded an average grade of 1.03% cooper...
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20 Aug
14:42Keras Resources notes looming major drilling campaign in AustraliaKeras Resources noted that Calidus Resources, of which it owned 33.8%, had outlined the launch of a major drilling campaign at the Warrawoona gold project in Western Australia state. The...
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20 Aug
14:30IronRidge Resources reports 'excellent' test work results at Ghana lithium playIronRidge Resources said it had received 'excellent' metallurgical test-work results from the Ewoyaa lithium project in Ghana. High-grade spodumene concentrate with low level contaminants was...
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20 Aug
14:21Beowulf Mining posts loss while awaiting Swedish project approvalNordics-focused miner Beowulf Mining posted a first-half loss as it continued to await a government decision on its proposed Kallak iron-ore project in Sweden. Pre-tax losses for the six months...
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20 Aug
14:11Bacanora Lithium nears final Chinese regulatory nod for Ganfeng Lithium dealBacanora Lithium said its investment and sales agreement with Ganfeng Lithium was close to getting final regulatory approval in China. The first of the required approvals, from the PRC Ministry of...
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20 Aug
13:59Greatland Gold finds more gold nuggets in Western AustraliaGreatland Gold said that more gold nuggets had been located at its Panorama project in the Pilbara region of Western Australia state. The nuggets were located over an area of 900 metres by 200...
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20 Aug
13:41Redcentric chairman Chris Cole to stand downIT services provider Redcentric said chairman Chris Cole had notified the boar of his intention to stand down once a suitable successor had been found. The company said it would now commence a...
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20 Aug
13:37EVR virtual reality music to launch on Facebook's Oculus Quest this weekVirtual reality content creator EVR Holdings said its MelodyVR platform would launch on Facbook's Oculus Quest headset this Thursday. MelodyVR provides live music in virtual reality. 'The...
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20 Aug
13:30Mosman Oil & Gas potential Texas partner Xstate terminates planned investmentMosman Oil & Gas said Australia's Xstate Resources had terminated an agreement to invest in the Champion project in Texas. The decision came after the project's operator, Baja Oil & Gas,...
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20 Aug
13:16John Laing enters Latin America with £62m Colombia road project acquisitionInfrastructure investor John Laing Group said it had agreed to acquire the Ruta del Cacao road project in Colombia for around £62m, marking its first investment in Latin America. The project...
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20 Aug
10:08Avanti Communications to seek shareholder approval to cancel listing on London Stock ExchangeAvanti Communications Group said that it would seek shareholders approval to cancel its shares on London Stock Exchange as part of an ongoing transformation of the company. The proposed...
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20 Aug
09:59Georgia Capital's wine business' capacity set to triple following acquisition of AlaverdiGeorgia Capital said its wine business had acquired a 100% stake in Alaverdi, tripling the group's wine production capacity. Following the acquisition, the group's wine production business'...
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20 Aug
09:42Power Metal Resources appoints Paul Johnson as CEOPower Metal Resources said it had appointed Paul Johnson as its chief executive following a strategic review. Johnson was previously executive director. Andrew Bell would remain as executive...
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20 Aug
09:31Cellcast to sell subsidiary Cellcast UK for £375,000Cellcast said it had entered into an agreement to sell its subsidiary, Cellcast UK to Com & Tel Media for at least £375,000. The company recommended shareholders vote in favour of the deal at...
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20 Aug
09:16Gresham House Energy Storage acquires 5MW battery-only project for £3.5mGresham House Energy Storage Fund completed its acquired a 5MW battery-only project based in Wolverhampton for £3.5m. The acquisition increased the total capacity of operational utility-scale...
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20 Aug
09:14N4 Pharma says Australia study demonstrates delivery product effectivenessN4 Pharma said a study conducted by Australia's University of Queensland had demonstrated the effectiveness of its delivery system for vaccines and cancer treatments. The repeat study demonstrated...
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20 Aug
09:12Kazatomprom to extend production cuts to offset oversupplyKazatomprom said it would continue to 'flex down' production by 20% through 2021 as the uranium market continued to recover from a period of oversupply, keeping uranium prices low. The full...
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20 Aug
09:08Primary Health Properties completed developments in Wales, YorkPrimary Health Properties said it had reached practical completion on two developments from separate developers at Glynneath and Langwith, at a total cost of £6.4m. The properties in Wales and...
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20 Aug
08:53Arc Minerals extends mineralised zone at Cheyeza East target in ZambiaArc Minerals said the width of the mineralised zone and the strike length at its Cheyeza East mine in Zambia had been extended following further drilling, Drill holes six and seven, which were...
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20 Aug
08:35Avesoro Resources receives takeover offer from main shareholder; warns on gold output guidanceAvesoro Resources said its controlling shareholder Avesoro Jersey made an offer to acquire the remaining stake in the company at a price of £1 a share that it did not already own. The company also...
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20 Aug
08:34Tekmar wins two cable protection contracts in TaiwanSubsea cable protection company Tekmar said it had secured two contracts within Taiwan . The combined value of the contracts, for execution and revenue recognition primarily in the current...
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20 Aug
08:33Petro Matad makes permitting progress for Mongolia wellsPetro Matad said that all processes for obtaining land permits related to the drilling of two wells in Mongolia had been completed, following delays. The company said it was now waiting on a final...
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20 Aug
08:29MySale launches £10m share issue to repay bank debtOnline retailer MySale said it planned to raise at least £10m from a share issue to repay its bank debt. New shares in the company would be issued at 2p each. MySale said the decision to raise...
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20 Aug
08:19Argo inks deal to expand electricity supply to boost mining capacityCryptocurrency mining services provider Argo, said it had entered into a new three-year agreement with GPU.one that would increase its electricity supply by 357%. Under the terms of the agreement...
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20 Aug
07:57UK Oil & Gas granted pair of licence extensionsUK Oil & Gas said it had been granted two-year extensions to the initial terms of two licences. The licences included the company's operated PEDL331 on the Isle of Wight, which included the...
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20 Aug
07:56Kingswood touts strong second half as restructuring nears completionWealth manager Kingswood said it was positioned for a strong second half of the year following, with trading so far this year in line with management's expectations, with restructuring now largely...
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20 Aug
07:51Asiamet Resources raises £1.75m through the placing of sharesAsiamet Resources said it had raised gross proceeds of approximately £1.75m through the placing of shares. The company placed a total of 50,000,000 new sharesat a price of 3.5p per share....
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20 Aug
07:46IMI to acquire PBM for $85mIMI said it had struck a deal to acquire speciality valve manufacturer PBM for $85m. PBM, a manufacturer of high-quality industrial valves and flow control products and based in Irwin,...
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20 Aug
07:45Omega Diagnostics gets HIV testing kit order in ZimbabweDisease and allergy testing company Omega Diagnostics said it had received its first purchase order for an HIV testing kit from its partner company in Zimbabwe. The order was for 20,000 units of...
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20 Aug
07:40Robinson appoints Helene Roberts as CEOPackaging company Robinson said it had appointed Helene Roberts as its new chief executive. Roberts was currently a managing director of at Klockner Pentaplast and had previously worked at...
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20 Aug
07:31RDI REIT completes last stage of £75m portfolio refinancingProperty investor RDI REIT said it had completed the second and final stage of a £75.0m London serviced office portfolio refinancing. The facility, provided by Aberdeen Standard Investments for a...
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20 Aug
07:28Tracsis sees annual earnings rising in line with market expectationsTransport industry software and services provider Tracsis said it expected its annual revenue and earnings to rise in line with market expectations. Trading for the year through July had been...
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20 Aug
07:21AstraZeneca type-2 diabetes drug meets primary objectiveAstraZeneca said results from a clinical trial of its type-2 diabetes drug to treat patients with heart failure met its primary objective after showing a reduction of cardiovascular death or the...
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20 Aug
07:07Wood Group sells nuclear business to Jacobs for £250mServices company John Wood Group said it had sold its nuclear business to a subsidiary of Jacobs for £250m. The sale price represented a multiple of around 12.4 times earnings, based on 2018...