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Proactive news round-up: Range Resources, LGO Energy, Corero Network Security ...

A glance at some of the stories on the Proactive newswire today
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Trinidad-focused Range Resources Ltd (LON:RRLASX:RRS) has told investors it exited 2016 with a production rate of 800 barrels of oil per day, which marks a 40% increase from the end of the prior year. Production growth comes as Range advances a programme of waterflooding at the Morne Diablo field and as it continued development drilling.

LGO Energy PLC (LON:LGO) has been given the regulatory green light for new drilling at the Goudron field in Trinidad. The Petroleum Company of Trinidad and Tobago (Petrotrin) and the Ministry of Energy and Energy Industries have now approved LGO Energy’s plan for its first new infill well, to be drilled into Mayaro Sandstone reservoir.

Corero Network Security PLC (LON:CNS) won five subscription-based contracts for its distributed denial of service (DDoS) products in the final quarter of 2016. The aggregated annualised value of the “as a service” contracts is US$300,000, the Aim-listed network security specialist said.

Avrupa Minerals Ltd (CVE:AVU) is what the company itself calls a ‘prospect generator’. Essentially this involves the exploring going round Europe and identifying, acquiring and upgrading potential mines. As chairman Mark Brown explains: “We're looking in Europe, in old mining districts for very large deposits and we're using modern techniques.

Zinc could result in the chink of cash for junior explorers like Tinka Resources Limited (CVE:TK) as the company's activities nicely chime with forecasts for a jump in the commodity’s prices in 2017.

Gold and silver producer Klondex Mines Ltd (TSE:KDX, NYSE:KLDX) still has plenty of irons in the fire and 2016 saw it continue to grow its cash and assets. The Nevada-focused firm put its third mine into production and repeated its full year output guidance for the 2016 year to end December.

Personal fitness tech group CloudTag Inc (LON:CTAG) revealed £250,000 of loan notes were converted into around 3.84mln new CloudTag shares by its major backer -  L1 Capital Global Opportunities Master Fund.

Blood gases monitor maker Sphere Medical Holding PLC (LON:SPHR) has secured a £3mln loan facility from Silicon Valley Bank. Sphere will draw down half of the facility immediately; the rest of the facility will be conditionally available until March 2018.

Tekcapital PLC (LON:TEK), the technology and intellectual property specialist, hailed the results of testing of its low sodium salt product  - µSaltTM. This so-called  'microsalt' does not contain substitutes like calcium, potassium or magnesium salts, which can lead to a bitter taste typical of many existing low-sodium salt products.

InfraStrata PLC (LON:INFA), the gas storage specialist, said it is in advanced discussions over debt funding that would meet its short-term capital requirements. This would be a pre-cursor to securing a larger financing deal to bankroll the front-end engineering design (FEED) for the Islandmagee project in Northern Ireland.

A non-executive director at drug discovery firm e-Therapeutics plc (LON:ETX), Professor Trevor Jones has bought shares in the company instead of taking part of his fees. The group said he subscribed for  36,917 new shares at 7.45p each worth around £2,750.

Argentina-focused Golden Arrow Resources Corp (CVE:GRG) had much to celebrate in 2016 and the progress looks set to continue this year. Shares in the metals explorer surged as much as 600% in the year and its market cap expanded to around $75mln from around $13mln at the start of 2016.

FTSE 100-listed colostomy bag maker ConvaTec Group PLC (LON:CTEC) has acquired a Netherlands-based rival, EuroTec Beheer, for €25mln. EuroTec manufactures and distributes one- and two-piece ostomy systems and accessories through various distribution channels in the Netherlands and Belgium, and through distributor partners in other markets.


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