Proactive Investors News

Kibo Energy’s MAST Energy subsidiary finalises 5-year PPA at Bordersley power project

Kibo Energy PLC’s (LON:KIBO) 60%-owned MAST Energy Developments subsidiary has finalised a five-year power purchase agreement (PPA) for its Bordersley Reserve Power generation project. MAST acquired the 5-megawatt gas-fuelled plant for £175,000 last week and has moved quickly to finalise the PPA with Norwegian fuel and energy trader Statkraft Markets. READ: Kibo's MAST subsidiary completes acquisition of Bordersley power site Kibo said the deal marked a “key commercial milestone” for MAST, which is targeting the commercial commissioning of the project by the end of March 2020. >>>

Gear4Music swings to loss but says tune is changing in new year

Online music shop Gear4Music Holdings PLC (LON:G4M) said it had made “swift strategic and operational changes” to change the tune after slipping to a loss in its past financial year. Even though the retailer had one extra month, as its year end was moved from 28 February to 31 March, helping sales grow 48% to £118.2mln, underlying earnings (EBITDA) fell 34% to £2.3mln. READ: Gear4Music hits bum note as trading update implies lower full year earnings At the statutory level, G4M reported a loss before tax of £0.6mln compared to a £1.5mln profit the previous time. >>>

ECR Minerals begins exploration work at third Victorian site

ECR Minerals PLC (LON:ECR) has begun exploring for gold exploration at the Timor gold project in Victoria, Australia after completing a review of the site. A review of Timor, the third active project of ECR’s five Victorian plays, highlighted multiple gold exploration targets in historically mined areas, with some areas of high-grade gold deposits that were not developed fully at depth due to the limitations of mining technology at the time, but now have potential for modern open cut and underground mining techniques. >>>

ANGLE raises £18mln as it gears up for Parsortix commercialisation

ANGLE PLC (LON:AGL) shares pushed higher on Tuesday in spite of news the firm is raising £18mln from new and existing investors as it gears up for potential commercialisation of its Parsortix liquid biopsy early next year. Parsortix is a simple blood test which can help doctors spot signs of cancer at an early stage. READ: ANGLE scores early success in ovarian cancer trial Results from a recent clinical trial showed the system was able to capture and harvest cancer cells from the blood of a significant proportion of metastatic breast cancer patients. >>>

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