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Proactive news snapshot: Telit Communications, Sunrise Resources, Acal …

Published: 10:45 16 Oct 2017 EDT

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Shares in industrial Internet of Things company Telit Communications Plc (LON:TCM) advanced on Monday following weekend reports that potential bidders are circling. Private equity companies were said to be sizing up the company, which specialises in machine-to-machine communications.

Sunrise Resources Plc (LON:SRES) has discovered a potential new perlite/pozzolan deposit in Nevada. Using techniques refined from those that identified the CS pozzolan/ perlite deposit, Sunrise has identified a new conical outcrop of glassy volcanic rock having a base diameter of approximately 400m and a height of up to 45m above the surrounding plain, suggesting good tonnage potential.

Customised electronics specialist Acal Plc (LON:ACL) expects full-year earnings to be ahead of expectations after a strong first half performance.

Concepta PLC (LON:CPT) has signed up two more distributors in China for its myLotus fertility product, who will target the early pregnancy market as well as infertility. Huanzhong Biotech and Wanma Technology have both signed 3-year exclusive distribution agreements, which will cover the provinces of Hebei near Beijing and the Shanghai area respectively.

Fox Marble Holdings PLC (LON:FOX) has now received the complete advance payment of US$500,000 from OM Enterprises, as per the sales agreement announced last month.

Medtech firm genedrive PLC (LON:GDR) has signed a distribution agreement with Sysmex Corporation, a world leader in clinical laboratory systemization and solutions, covering EMEA, with an initial focus on Africa.

RM Secured Direct Lending PLC (LON:RDML), an investment trust specialising in secured debt instruments, saw its net asset value per share rise last quarter to 99.51p from 97.6p at the end of June.

Mytrah Energy Ltd (LON:MYT) has confirmed that chairman Ravi Kailas has repaid all of the loan he took out from the company without permission last week. Kailas has repaid the entire US$2.55mln loan, plus a fee of US$16,000 that had been charged to him by the company.

Greatland Gold plc (LON:GGP) has applied for a new exploration licence to expand its landholding at the Ernest Giles gold project to more than 2,000 kilometres. If the licence application is successful then the eastern blocks of the Ernest Giles project will encompass roughly 800 square kilometres (km), covering a north-south trending sequence of rocks, some 90 km long, representing an extension of the gold prospective Ernest Giles greenstone sequences.

Shares in industrial Internet of Things company Telit Communications Plc (LON:TCM) advanced on Monday following weekend reports that potential bidders are circling.

Futura Medical PLC (LON:FUM) jumped at the opening bell after it told investors that the majority of physicians in the US think its erectile dysfunction gel is an improvement over current ED therapies. The innovative healthcare group said the latest market research data found that 60% of doctors think MED2002 – the official name of the gel – is a better treatment than the likes of Viagra and Cialis.

Highlands Natural Resources Plc (LON:HNR) told investors it is now moving ahead to flowback operations at the Wildhorse and Powell wells, at the East Denver project in Colorado. The company has now completed a fracking programme on the two wells, with each fractured 55 times. It is expected that both wells will begin production during the fourth quarter.

Silence Therapeutics PLC (LON:SLN) has announced the appointment of Dr Annalisa Jenkins, CEO of Dimension Therapeutics Inc.  as the AIM-listed group’s non-executive chair with effect from today. Jenkins will succeed Dr. Stephen Parker, the company's non-executive chairman since September 2015 who will become a non-executive director.

Orosur Mining Inc (LON:OMI) has commenced a 15,000 metre drill campaign in Colombia. The drilling is supported by the US$3.2 mln in new money that the company raised in August. Separately, first quarter production numbers from the San Gregorio mine in Uruguay show that Orosur is on track to meet guidance of between 30,000 and 35,000 ounces of gold for the year.

Strategic Minerals Plc (LON:SML) has signed a term sheet for the acquisition of the Leigh Creek copper mine in Australia. Subject to due diligence, Strategic will pay A$1mln in cash in staged payments, provide interim loan funding, subscribe for shares in the owner, LCCM, and grant a significant royalty over the project.

Merrill Lynch Australia funds have bought just over 5% of Base Resources Limited (LON:BSE). The share purchase comes after Taurus sold a slightly bigger stake last week.

Vast Resources PLC (LON:VAST) enjoyed a record third quarter, as operations at the Manaila polymetallic mine in Romania and the Pickstone-Peerless gold mine in Zimbabwe outperformed the previous quarter in terms of tonnes mined, tonnes milled, copper concentrate produced and gold produced. At Manaila there was a 31% increase in copper concentrate produced, although grade dropped marginally. Zinc production fell, but gold production rose.

Metal Tiger PLC (LON:MTR) told investors that it has added more shares in Kingsgate Consolidated Limited (ASX:KCN). It has purchased 430,000 shares at a price of 33 Australian cents, equivalent of 20p, per share. The transaction takes MTR’s stake up to 11.58mln shares, amounting to 5.18% of the Australian company.

 Società Chimica Bussi (SCB) is investing in additional manufacturing capacity for a stain removal product developed by Itaconix Plc (LON:ITX). Big Pic in May.

APQ Global Limited (LON:APQ), the emerging markets growth company, announces that as at the close of business on 30 September 2017, its unaudited book value per ordinary share was 96.94p.

Obtala Limited (LON:OBT) has announced the appointment of Northland Capital Partners Limited as its Nominated Adviser and joint broker to the company with immediate effect The appointment by the African focused agricultural and forestry company follows the pending removal of its previous Nomad ZAI Corporate Finance Limited from the register by the London Stock Exchange. Given the particular circumstances, LSE has agreed that Northland has until 5pm 19 December 2017 to finalise its due diligence and provide all relevant nominated adviser confirmations to the exchange.

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