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Proactive news highlights: Featuring Sound Energy; Shanta Gold, Allergy Therapeutics and more…

Published: 11:30 19 Jan 2017 EST

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It was a busy day for Sound Energy PLC (LON:SOU), which unveiled what appears to be another strong set of results from the TE-7 well on the Tendrara gas field onshore Morocco.

Over a 56 day period of continuous flow the well has yielded just under 1bn cubic feet of gas, the company said.

The explorer also said it had agreed a deal to acquire an extra 20% of the Tendrara gas project onshore Morocco, taking its stake in the successful project to 75%.

Elsewhere, Shanta Gold Limited (LON:SHG) beat its targets for both the amount of gold it produced and the costs of extracting it in 2016.

Output from the New Luika mine in 2016 totalled 87,713oz, which was a record for the Tanzania-based junior and compared to the top end of guidance of 87,000oz.

Allergy Therapeutics plc (LON:AGY) said it had gained share in a “flat” European market as it said sales had grown strongly in the first half of its financial year.

The company, which has developed short course inoculations against hay fever, said turnover was £40.4mln in the six months ended December 31.

W Resources PLC (LON:WRES) has told investors it is making good progress with the financing and development of its La Parrilla tungsten mine in Spain.

Terms have now been agreed with leading vendors for the financing, supply and installation of the crusher and the jig/ mill plant – two of the three core equipment packages.

W expects the vendors to provide finance for 50% of the two equipment packages, with formal contracts to come in the next month or so.

In other news, multicurrency payments services provider FairFX Group Plc (LON:FFX) has snapped up digital business banking firm Q Money – and its associated e-money licence – for £425,000.

FairFX said the deal - which is expected to go through next Tuesday (24 Jan) - opens up “many exciting opportunities” for the business going forward and should help drive future growth.

Greatland Gold PLC (LON:GGP) has found latest drill assays from the Ernest Giles site in Western Australia were better than first thought after re-sampling.

Last week, Greatland reported that it had identified a Western Zone 6km in length and 1.5km in width and an Eastern zone 2km by 1.5km.

As Hummingbird Resources Ltd’s (LON:HUM) mine construction work continues at Yanfolila, in Mali, the company secured key contractors.

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