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Proactive news highlights: Featuring Hummingbird Resources, Shanta Gold and Breedon Aggregates

Hummingbird begins detailed engineered at Yanfolila; Shanta Gold exploration yields some encouraging results; Breedon Aggregates proposes a name change; and more…

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Hummingbird Resources Ltd (LON:HUM) has awarded the engineering, procurement and construction management (EPCM) contract for its Yanfolila gold project in Mali to South African project management firm SENET (Pty) Ltd.

The firm has also appointed Wayne Galea as project manager to oversee the whole process.

Elsewhere, exportation drilling by Shanta Gold Limited (LON:SHG) close to its New Luika Gold Mine (NLGM) in Tanzania suggests the high-grade area has potential for underground mining.

The focus was on a prospect called Ilunga, 2.5 kilometres from the main processing facility with this, the second wave of drilling in the area, designed to test the strike extension.

The best intercepts from the 20-hole programme included 13 metres at 4.19 grams per tonne of the yellow metal, including 10 metres at 5.3 grams; 3.2 metres at a bonanza 40.64 grams and 2.06 metres at a 10.46 grams.

Breedon Aggregates Limited (LON:BREE) has proposed a name change to ‘Breedon Group PLC’.

The change will need shareholder approval, as will the plans to simplify the trading brand of the group to ‘Breedon’.

AFC Energy plc (LON:AFC), the industrial fuel cell power company, has passed one of its 2016 strategic milestones ahead of schedule.

The company said the design and basic engineering of the company's new 10 kilowatt (kW) fuel cell system has been completed. This was milestone number four of the company's published 2016 strategic milestones schedule.

Sweeteners specialist PureCircle Limited (LON:PURE) said operating profits would grow by 60% as margins “strengthened considerably” in the year just ended.

In a pre-close statement the producer and marketer of high purity stevia ingredients told investors revenues would be “not less than” US$138mln for the 12 months to June 30.

Underlying earnings (EBITDA) are expected to be US$37mln, while net profit is expected to have grown 275% to US$15mln. The company also said it generated positive cash flow in the period as it gave a reasonably upbeat assessment of the prospects

In the same announcement the company said effective today Rakesh Sinha takes over from the departing William Mitchell as chief financial officer. 

In other news, Scancell Holdings Plc (LON:SCLP) hailed latest findings from the Phase 1/2 clinical trial of lead cancer drug SCIB1, which continues to show what it called "compelling" survival data.

The firm's first immunoBody candidate, named SCIB1, is being developed to treat melanoma - the most dangerous form of skin cancer.

Savannah Petroleum PLC (LON:SAVP) is raising up to US$40mln to help it take the next step in developing its promising oil assets in Niger.

Savannah is issuing new shares at 38p each with existing and new investors to carry out seismic studies of an area covered by the R3 production sharing agreement (PSC) in the Agadem Rift Basin in the south-east of the African nation.

Exploration and development firm Mariana Resources Ltd (LON:MARL) has strengthened its relationships with Lidya Mining and Sandstorm Gold Ltd (NYSEMKT:SAND) by appointing a director from each company to its board.

Mustafa Aksoy, general manager at Turkish miner Lidya, along with Sandstorm Gold’s vice president of finance, Ron Ho, will now sit on Mariana’s board as non-executive directors.

The Cuba Mountain Coffee Co (CMC), in which Leni Gas Cuba Limited (ISDX:CUBA) has a stake, has achieved a milestone in negotiations with the Cuban authorities.

CMC, which is 10% owned by Leni Gas Cuba, is now hopeful that its coffee project in the Cuban province of Guantanamo will begin in early 2017, following agreement on the principal terms for co-operation with the Asdrubal Lopez coffee processing plant in Guantanamo.

Rare Earth Minerals plc (LON:REM) said latest results from European Metals' (ASX:EMH) work at the Cinovec lithium project in the Czech Republic continue to show the site's potential.

REM holds a 16.4% stake in EMH, which owns the exploration rights to the Cinovec lithium-tin-tungsten project, and results from hole PSn13 returned a main mineralised intercept of 167.1 metres averaging 0.36% Li2O (lithium oxide) along with high grade intervals of 12 and 7 metres.

And finally, Premier African Minerals Ltd (LON:PREM) said it has made further progress at its 49%-owned RHA tungsten project in Zimbabwe.

Screens and plant modifications are now at site and installation is progressing despite prior delays at the Zimbabwe/South Africa border, the company told investors.

 

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