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Proactive news round-up: Strategic Minerals, Mosman Oil & Gas, Ariana Resources...

Published: 10:55 02 Jun 2017 EDT

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Strategic Minerals Plc (LON:SML) has received the final payment of US$175,000 due under its rail settlement agreement with the rail provider at the Cobre  magnetite tailings operation in New Mexico.

The US$175,000 was part of the rail settlement reached in July 2016 and completes the balance of the US$675,000 due under the agreement.  Cobre has also started a new contract to supply a minimum of 4,000 tons of magnetite per month, Strategic added.

Mosman Oil And Gas Limited (LON:MSMN) has sold its remaining shareholding in Hemisphere Energy Corporation (CVE:HME) for a total consideration of A$289,000 and an overall profit from the sale of just under A$10,000.

Ariana Resources Ltd (LON:AAU) charted a 'transformational' 2016 in its full year results, which saw it transition from explorer to producer and post a profit. For the 12 months to December 31, Ariana reported a pre-tax profit of £13.7mln compared to a loss of £1.4mln a year earlier. The team successfully built the Kiziltepe Mine with jv partner Proccea and the first gold pour was in March this year.

Balkans-focused Tethyan Resources PLC (LON:TETH) plans to advance both the Suva Ruda and Gokcanica projects in Serbia in the  rest of 2017 and sees potential for further acquisitions in the area, it said, posting final results. In April, the group said it had kicked off summer drilling on its Rudinitza porphyry, at Suva Ruda, to expand the footprint of mineralisation and test areas.

Australia-focused gold miner ECR Minerals PLC (LON:ECR) has raised gross proceeds of £1.0mln via an oversubscribed placing of 55.5mln new shares at a price of 1.8p. The AIM-listed group said the proceeds will be used to "support its continuing activities in Australia and explore new opportunities."

Project management and technical consultancy WYG PLC (LON:WYG) has landed deals worth around £50mln over the next three years in the UK and Africa.

Drug developer Motif Bio Plc (LON:MTFB) has unveiled plans to raise £19.4mln via a share placing - cash that will be used develop its late-stage antibiotic. Specifically, it will fund to completion the second of two phase III clinical studies on iclaprim.

Kibo Mining PLC (LON:KIBO) has surrendered most of its early stage licences in the Lake Victoria region of Tanzania as it focuses more on the Mbeya coal mine/power station project and Haneti nickel site. In total, 79 licences were surrendered over 800 sq km.

Greka Drilling Limited (LON:GDL) has arranged a US$2.5mln loan with its chief executive Randeep Grewal. The loan pays interest rate at 7% per annum and is repayable between 1 January 2018 and 31 May 2018 through the transfer of leases of an office building in Zhengzhou, China.

TomCo Energy Plc (LON:TOM) has agreed the new framework for its new TurboShale Inc business unit to unlock the potential of the Holliday shale block in Utah. The agreement has been agreed between TomCo, TurboShale Inc, Tomco subsidiary OMC, JR Technologies LLC and Venture Development Partners Ltd (VDP).

Stem cell storage specialist WideCells Group PLC (LON:WDC)  has described as 'momentous' the decision to include it in the DISRUPT 100 index as the 21st most disruptive firm in the world. The index ranks businesses with the most potential to influence, change or create new global markets and is judged by global brands including Google, UberOracle, Silicon Valley Bank and Virgin StartUp.

Ormonde Mining plc (LON:ORM) has pressed go on commissioning its Barruecopardo tungsten mine with a revised timetable in the light of rising tungsten prices. Commissioning of the mine in Salamanca, Spain is now earmarked for the third quarter of 2018.

Growing demand for its Dermapure skin graft helped Tissue Regenix PLC’s (LON:TRX) revenues jump by nearly 80% in the year just ended, with the Leeds-based medtech now eyeing the US sports medicine market. Most of the sales originated in the US where Tissue’s wound care business now covers 93% of beneficiaries of US healthcare system Medicare.

E-sports promoter Gfinity (LON:GFIN)  will host the final of Microsoft's Forza Racing Championship at the Le Mans 24-hour endurance race event this month. The ForzaRC season 3 Elite finals will take place on 17 and 18 June 2017 at the Circuit de la Sarthe in Le Mans, France.

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