Investment company Clear Leisure PLC PLC (LON:CLPP) saw its shares slump 19% to 0.255p after it revealed a US$100,000 investment in an Israeli technology company.
The company is to subscribe for syndicated senior secured promissory notes issued by Geosim Systems, a 3d-modelling specialist.
The company, which jumped on the blockchain bandwagon last year just as it started to run out of steam, said it is in the final stage of negotiations with 64Bit Ltd to resolve differing opinions as to the correct strategy for their joint venture.
9.30am: Savannah good time
The oil & gas company focused around activities in Niger and Nigeria said the Nigerian Department of Petroleum Resources has approved Savannah’s proposed transfer of Seven Energy’s assets to Savannah.
There are still a few other boxes to tick before the transaction goes through, namely the execution of long-form documentation concerning the Accugas debt restructuring and the Frontier swap
Elsewhere in the resources sector, mining company Tri-Star Resources PLC (LON:TSTR) advanced 15% to 41.5p after the production of commercial-grade dore commenced at the antimony-gold processing facility in the Port of Sohar Free Zone located in the Sultanate of Oman.
“Production of first commercial-grade dore is a significant milestone as we look to advance the development of this exciting gold and antimony project and build a leading global position in the market,” said Adrian Collins, the chairman of Tri-Star.
“Whilst there are still challenges to overcome, we have reached a tipping point that will, I believe, result in accelerated activity over the next few months; we look forward to updating shareholders on progress,” he added.
Proactive news headlines
BATM Advanced Communications Limited (LON:BVC) has reported an increase in its underlying earnings for the first half of 2019 and expects to record good growth for the full-year as it gains increasing commercial traction in two key areas.
South African miner BlueRock Diamonds PLC (LON:BRD) has sold a fifth stone from the Kareevlei mine for more than US$50,000.
Redx Pharma PLC (LON:REDX) has been told it can up the dose of its lead cancer drug, RXC004, after it successfully navigated the first part of its early-stage trial.
Mkango Resources Ltd (LON:MKA)(CVE:MKA) has confirmed that a recently shipped 60-tonne bulk rock sample taken from the Songwe Hill rare earths project has now arrived into Fremantle Port in Western Australia.
AfriTin Mining Ltd (LON:ATM) has produced its tin concentrate from the Uis tin mine in Namibia. Tin production comes soon after the company announced the completion of the Phase 1 pilot plant on 26 July 2019 and that hot and cold commissioning were nearing completion.
Scancell Holdings PLC (LON:SCLP) is to begin the UK arm of the phase II trial of its flagship skin cancer treatment immediately. The trial is testing the safety and efficacy of SCIB1 in 25 metastatic melanoma patients who are also receiving Merck’s blockbuster checkpoint inhibitor Keytruda.
Alternative fuels group Quadrise International PLC (LON:QUAD) expects to confirm funding plans by the end of the month.