Proactive news headlines: Bezant Resources, Quadrise Fuels, EQTEC, BATM Advanced Communications …

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Bezant Resources PLC (LON:BZT) has provided some further detail on its plans to list the vehicle which holds an 80% interest in the Mankayan copper-gold project in the Philippines. Said vehicle, called MMJV, which in turn is a subsidiary of Mining and Minerals Industries Holding, is being reversed into a Singapore-listed company called AsiaPhos Ltd. The transaction is at the “non-binding term sheet” stage, with the definitive agreement expected to be concluded by the end of the month (if not the deal will lapse).

Quadrise Fuels International PLC (LON:QFI) said it has significantly mitigated the potential impacts of coronavirus (COVID-19) due to a prompt and proactive approach. In its final results statement, the group noted that it has been able to extend its business development ‘runway’, with GBP2.4mln of cash as at June 30, 2020, and it was able to significantly reduce travel expenses. Available cash leaves the company sufficiently funded through to mid-second quarter 2021, Quadrise noted.

EQTEC PLC (LON:EQT) has revealed that its gasification technology is to be independently reviewed by engineering and consultancy company Wood Group UK. The main focus will be on the AIM-listed waste-to-energy specialist’s 6MW (megawatt) power plant in Movialsa, Spain, and its application to a wide range of mixed waste fuels. In conjunction with this, Wood will also be completing a market review, assessing the potential for the effective market penetration of EQTEC’s waste gasification technology solutions considering waste type, availability, regional policies and regulations and capital cost comparisons. These two reviews are expected to be completed by the end of the year.

BATM Advanced Communications Ltd (LON:BVC) (TASE:BVC) revealed it has landed a EUR4.3mln order for its coronavirus (COVID-19) real-time diagnostic kits and instruments. The group said the customer is an Italian group that provides tests across Europe for businesses such as airports. BATM said it expects to receive further significant orders from the buyer, both near-term and in the next year.

Diversified Gas & Oil PLC (LON:DGOC) said funds managed by Oaktree Capital Management will work with it to identify and fund future acquisition opportunities. Oaktree, a premier global firm with a history of successful partnerships, has agreed to commit up to US$1bn in aggregate over three years for mutually agreed upon “proved developed producing” (PDP) acquisitions with transaction valuations greater than US$250mln. Diversified Gas & Oil (DGO) will match Oaktree’s investment on a dollar for dollar basis and will act as the sole operator of all assets acquired.

Zephyr Energy PLC (LON:ZPHR), the Rocky Mountain oil and gas company, has got the funding needed to drill a research well in the Paradox Basin, Utah. The company said the well should be spudded before the end of the year. Zephyr has entered into a definitive binding agreement with the University of Utah’s Energy & Geoscience Institute (EGI) to sanction and fund US$2 million towards the planned stratigraphic research well.

Mosman Oil and Gas Limited (LON:MSMN) has told investors that the recently drilled Stanley-4 well in Texas produced a total of 1,661 barrels of oil in the period between September 22 and October 2, 2020. The average daily rate was measured at 200 barrels of oil per day (bopd) over a four-day period, it added. Some 1,051 of the barrels produced from Stanley-4 were sold in September.

SDX Energy PLC (LON:SDX) has flagged up a strong performance during its second half to date with production presently seen ahead of guidance. The company, in an update marking the end of its third quarter, said it now intends to accelerate a significant new drill programme at the South Disouq project area in Egypt. Production in the nine months to end September 2020 averaged between 6,488 and 6,598 barrels oil equivalent per day (boepd), which is up 85%-89% on the comparative period in 2019 and compares favourably to current guidance of 6,000 to 6,250 boepd.

Caledonia Mining Corporation PLC (LON:CMCL) said its Blanket mine produced 15,164 ounces of gold during the quarter ended September 30, 2020, an increase of 11.1% on the 13,646 ounces produced in the corresponding quarter of 2019. It takes the total amount of gold produced in the nine months to end September 2020 to 42,896 ounces, 12% ahead of production at the same stage in 2019. The company boosted its production guidance for the year to December 31, 2020, to between 55,000 and 58,000 ounces.

Norman Broadbent PLC (LON:NBB) said it has agreed to acquire the outstanding minority interest of 25% of Norman Broadbent Interim Management Limited (NBIM). The professional services firm is buying the stake from Angela Hickmore, managing director at NBIM and Norman Broadbent Solutions, for GBP135,000 to be paid via an initial cash consideration of GBP65,000 at completion and the issue of consideration shares to the value of GBP70,000. For the year ended December 341, 2019, NBIM generated net fee income (after interim costs) of GBP2.2mln, up from GBP191,000 in 2016, and a resulting profit of GBP248,000, up from GBP60,000 in 2016, the company said.

Union Jack Oil PLC (LON:UJO) announced that drilling has begun on its 16.665% owned potentially high impact West Newton B-1 well in east Yorkshire. It is an appraisal well designed to follow-up the successful West Newton A-2 discovery well. West Newton B-1 will be drilled down to a depth of around 2,000 metres over a period of six to ten weeks, the group said.

Chariot Oil & Gas Ltd (LON:CHAR) has appointed Pierre Raillard as its Morocco Country Director. The group said Raillard brings to the company over 25 years’ operational and management experience in the energy industry, with specific expertise in the development of natural gas projects in Africa. He has held senior positions within a number of leading energy firms. He joins Chariot from Orca Energy Group, which he returned to as head of business development, having previously played a key role in the development of the Songo Songo gas field, located offshore Tanzania.

Clear Leisure PLC (LON:CLP) said Eufingest has agreed to extend the repayment date of all Eufingest loans advanced to the company amounting to EUR3.3mln and GBP30,000 to October 31, 2020. The investment company paid EUR550,000 plus interest of EUR11,157 to Eufingest in August following the receipt of funds from the Mediapolis court-approved settlement. The AIM-listed firm said this payment has repaid the loans advanced by Eufingest announced in July 2019, October 2019 and February 2020. All other terms and conditions of the outstanding loans remain unchanged.

Thor Mining PLC (LON:THR)(ASX:THR) has begun a close-spaced airborne magnetics survey over the Ragged Range project and adjacent application area in the Pilbara Goldfield tenements in Western Australia. The survey is anticipated to take approximately six days, with Thor anticipating processed and modelled data for release early November.

Premier African Minerals Ltd (LON:PREM) has cleared its debt to a group led by Riverfort, after the respective investors elected to convert the remaining balance of US$65,000 of the investment plus accrued interest of US$249.32 into shares. The investment agreement under which the conversion was made dates back to May 7, 2020. “This is the last of the convertible loan notes related to this investment and this debt is now cleared,” Premier African’s chief executive George Roach said in a statement released after the market close on Friday.

Deltic Energy PLC (LON:DELT) has told investors that takeover approaches from Independent Oil & Gas PLC (LON:IOG) was deemed to be not in the best interest of shareholders and were rejected. The North Sea-focused company, in a statement, noted that it rejected approaches in early September and more recently. An improved approach from IOG dated September 25 proposed an all share merger and was pitched at a discount of more than 10% of Deltic’s share price.

Braveheart Investment Group PLC (LON:BRH) has provided an update on the progress with proof of concept for a COVID-19 test that Paraytec Limited is conducting with the University of Sheffield. The investment group said the proof of concept trials are focused on two separate elements of the test, the Optical Detection System, and Capture & Signal Generation Modules, both of which are required to be achieved for the trial to be successful. Proof of concept has been achieved for the Optical Detection System and development work continues to optimise detection sensitivity, the AIM-listed firm said in a statement. Minor logistical issues arising from increased regional COVID-19 restrictions has meant that final proof of concept trials continue for the Capture & Signal Generation Modules and the results are now anticipated on October 16, it added.

Crossword Cybersecurity PLC (LON:CCS), the technology commercialisation company focused solely on cybersecurity and risk, has announced the appointment of its CEO, Tom Ilube, to the board of WPP PLC (LON:WPP) as an independent non-executive director with immediate effect.

Live Company Group PLC (LON:LIVE) announced that further to its announcement on April 15, 2020, Bryan Lawrie has as anticipated now stepped down from the board as an executive director and CFO, but will remain on the board as a non-executive director.

Power Metal Resources PLC (LON:POW) the AIM-listed metals exploration and development company has provide a project portfolio update for shareholders. Paul Johnson, Power Metal’s chief executive officer commented: “Power Metal has built a diverse portfolio of interests and has multiple projects in the active exploration phase. The latest position for all our project interests is outlined below, together with details of targeted near-term news flow across our business. To assist investors and shareholders keep track as we push ahead with multiple exploration programmes we continue to enhance our communications tools embracing both public and investor relations disciplines. The company’s corporate website is being updated at present and a new website is to be launched in the coming month. We are also looking to launch or enhance project level websites where appropriate.” Further details in respect of Power Metal’s nine project interests can be found on the company’s website company also maintains a frequently updated Corporate Presentation which provides an overview of each project and additional corporate information and this may be viewed through the following link:

BlueRock Diamonds PLC (LON:BRD), the AIM-listed diamond mining company, which owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa said that 21,935 ordinary shares have been issued at a price of 54.4p a share (equal to the volume-weighted average price for the 5 trading days to 30 September 2020) to part satisfy the payment of interest and repayment premium in accordance with the original loan agreement between Adam Waugh (the previous CEO of BlueRock) and the company. The capital amount outstanding on the loan is now GBP49,000.

KRM22 PLC (LON:KRM) the technology and software investment company that focuses on risk management for capital markets, has announced the issue of a total of 477,183 options including 185,034 options to subscribe for new ordinary shares of 10p each in the company to employees of the group and certain directors of the company, including its CFO Kim Suter under the company’s Employee Share Option Plan. The options are exercisable at 38p, will vest over a 30 day period for employees, or over a three month period for the Non-Executive Directors, and will expire on October 1, 2030.

Advanced Oncotherapy PLC (LON:AVO), the developer of next-generation proton therapy systems for cancer treatment, said its Remuneration Committee has approved the grant of share options over a total of 24,000,000 new ordinary shares of 25 pence each to members of the management team including Nicolas Serandour, the group’s chief executive officer), Dr Michael Sinclair, its executive chairman) and Professor Steve Myers, an executive director and ADAM executive chairman. The options have been granted at an exercise price of 50p per share and have a five-year term, expiring on October 5, 2025

Advanced Oncotherapy also said it will be hosting a presentation and Q&A session for all investors and analysts at 2.00pm BST delivered by the company’s senior management team. The Investor Day will update the market on the company’s patient-centric business model, the broader strategy and operational deliverables for 2021. The presentation will be hosted through the digital online platform Investor Meet Company, with dial-in details also available for attendees once registered. If new to the platform, investors and analysts can sign up to Investor Meet Company for free and add to meet Advanced Onotherapy via the following link:

Scancell Holdings PLC (LON:SCLP), the developer of novel immunotherapies for the treatment of cancer and infectious disease, has said it expects to announce its financial results for the year ended April 30, 2020, on Friday, October 16, 2020.

e-therapeutics PLC (LON:ETX) has said it will announce its interim results for the half-year ended July 31, 2020, on Monday, October 12, 2020.

Supermarket Income REIT PLC (LON:SUPR) announced that at the company’s general meeting held on Monday, all resolutions were passed by a show of hands.

Zanaga Iron Ore Company (LON:ZIOC) has confirmed that its annual general meeting will be held at Unit 4, Villoresi Office Park, 63A Kent Road, Dunkeld, Johannesburg, 2196, South Africa on October 30, 2020, at 10am (SAST).

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