logo-loader

Proactive news highlights: Sound Energy, Rambler Metals & Mining and Forbidden Technologies

A director of Sound Energy is stepping down; Rambler Metals swings to a profit; Forbidden announces its latest contract win; and much more…

newspapers
Your daily round-up from the world of Proactive

We start with the news that Simon Davies, non-executive director at upstream gas company Sound Energy PLC (LON:SOU), has decided to step down as a director.

The company has asked current chief executive James Parsons to act as interim non-executive chairman while the company concludes its search for a replacement.

Newfoundland-based copper miner Rambler Metals & Mining (LON:RMM, CVE:RAB) bounced back into profit in its latest quarter.

The firm swung to an operating profit of C$141,000 for the three months to April, against a loss of C$1.66mln in the previous quarter.

Also in the news today, Forbidden Technologies plc (LON:FBT) has revealed its latest contract win, as its Forscene cloud-based video editor was selected for a production that will be distributed in the Middle East.

The production is being recorded in Toronto and Manchester, it will be edited in Los Angeles and will be distributed into Iran and a number of other Middle Eastern countries.

Nostra Terra Oil and Gas Company plc (LON:NTOG) has stuck a deal worth US$2.1mln to sell its 20% stake in the Chisholm Trail Prospect, Oklahoma.

The buyer is a privately owned, Oklahoma based oil and gas group.

Chisholm Trail accounted for US$1.7mln of book value, and in 2015 the asset contributed US$670,000 of revenue for the group.

Hydrogen fuel and storage specialist ITM Power (LON:ITM) is to supply an integrated hydrogen refuelling station (HRS) to French renewables group Hydrogène de France.

The initial contract is worth €1.5mln to ITM, which will supply the hydrogen electrolyser technology, with the station designed to supply fleets of fuel cell powered vehicles.

Elsewhere, Fitbug Holdings Plc (LON:FITB) is to raise £2.6mln through a new share issue while £8.4mln of existing loans will be switched into equity as it seeks to reboot its struggling business.

Earlier this month, the wearable fitness monitor supplier said it would focus on business-to-business (B2B) sales after finding that selling to consumers was "unsustainable".

Hummingbird Resources PLC (LON:HUM) is spinning out a number of non-core exploration permits following an outline deal struck with privately-owned Kola Gold.

The pair plan to create a new company to hold a number of Hummingbird’s non-core gold exploration permits in Mali plus some of Kola’s in Mali and Senegal. In all, 10 properties, covering 1,600 sq km.

PureCircle Limited (LON:PURE) told investors that shipments of sweetener stevia, which were detained by American border control earlier this month, have  now been cleared for release into the US.

The detention order was based on an inaccurate allegation that the shipments contained products that were produced using forced labour, the firm said earlier in the month.

And finally, Amur Minerals PLC (LON:AMC) has said it expects to complete the definitive feasibility study for its Kun-Manie nickel project in Far East Russia by the end of 2017.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Amur Minerals Corporation named herein, including the promotion by the Company of Amur Minerals Corporation in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Alchemist sees big market in China for medical cannabis sales

Alchemist (CSE: AMS) CEO Paul Mann and Vice President of Business Development, Asia Pacific Johnson Lee joined Steve Darling from Proactive Vancouver to discuss Alchemist looking for opportunities for cannabis in the emerging cannabis market.  Mann and Lee talk about what the industry...

16 hours, 57 minutes ago

3 min read