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Proactive news snapshot: MetalNRG, W Resources, Faron Pharma, Hurricane Energy, Directa Plus …

MetalNRG PLC (LON:MNRG) has kicked off a pillar gold sampling programme at its Gold Ridge project in Arizona. In an announcement on Thursday afternoon, the natural resource investor said the programme was on schedule and it is aiming to confirm results in September from a sample taken from a boulder on the side of the projects waste dump that showed 115 ounces per tonne of gold.

W Resources PLC (LON:WRES) is continuing to advance commissioning and ramp-up activities at its La Parrilla mine in Spain. The tungsten, tin and gold miner said all components at its concentrator plant at the site had now been commissioned and over five tonnes of tungsten concentrate had been produced and is due to be purified with tin separated next week.

Faron Pharmaceuticals Oy (LON:FARN) has raised £7.48mln via a placing of shares at 190p each, cash that will bankroll the future development of the companys cancer drug. Chief executive Dr Markku Jalkanen said the fundraiser had brought in a significant number of new Nordic shareholders. “[It] will allow us to further progress our clinical programme on Clevegen with a view to clarifying its full potential, either alone or in combination with existing cancer treatments,” he added.

Hurricane Energy PLC (LON:HUR) has played down speculation over its Warwick West well in the UKs West of Shetland continental shelf. Gossip in a market blog today suggested that the well has exceeded all hopes. Spudding took place on 24 September, but Hurricane said flow testing has yet to start and it is far too early to make any conclusions about the wells success.

Directa Plus PLC (LON:DCTA) is to test its enhanced asphalt on a section of road in Oxfordshire. The Graphene specialist said the trial will involve the refurbishment of the two upper layers of a 750m long section of road in co-operation with Oxfordshire County Council. Itermechanica is Directa Plus partner and the pair have already run a successful trial for the new road surface in Rome.

Bluebird Merchant Ventures Ltd (LON:BMV) has formally received a 'Permit to Develop' the Gubong gold mine in South Korea, enabling it to start work immediately on re-opening the historic mine. The junior added it is now very confident that the application for the 'Permit to Develop' the Kochang mine will soon be granted.

Mineral and Financial Investment Limited (LON:MAFL) has converted a sizeable chunk of the zinc resource at Lagoa Salgada in Portugal to Measured & Indicated from Inferred. Most of the resource is situated within the North Zone and here the M&I resource rose by 71% to 10.3Mt and at a grade of 9.1% zinc equivalent.

The result of a public inquiry into an onshore oil development in Lincolnshire is expected by the end of the year, the development partners confirmed. The Planning Inspectorate is in pre-election purdah, so a decision will be released after December 12, but before the end of the month, the market was told. The Wressle partners include the operator Egdon Resources (LON:EGD), Europa Oil & Gas (LON:EOG) and Union Jack Oil (LON:UJO).

i3 Energy PLC (LON:I3E) shares flowed higher on Friday as the firm spudded a new well at its Liberator field in the North Sea. The oiler said the Liberator A2 well had been successfully spudded and the results from the drilling will be used to optimise the location and trajectory of the planned LP-02 production well.

Pembridge Resources PLC (LON:PERE) is to get more cash upfront through an amendment to a legacy streaming agreement with Canadian giant Wheaton over the recently re-opened Minto mine. In a statement, Pembridge said it might get as much as US$8.5mln extra for the first 14 months of production if the gold price stays above US$1,500.

Solo Oil PLC (LON:SOLO) is seeking clarification following an announcement by its joint operating partner, AMINEX PLC (LON:AEX) over a decision to fast track parts of a work programme at the Ruvuma project in Tanzania. AIM-listed Solo, which holds a 25% stake in Ruvuma, said it “had not been made aware of, or consulted on” a decision by AMINEX, announced on Wednesday, to fast track its exploration programme due to an improved business environment in the country.

InnovaDerma (LON:IDP), a UK developer of life sciences, beauty and personal care products, said it was notified today that Joseph Bayer, its new executive chairman has purchased 21,666 ordinary shares in the company at a price of 65.25p each which will be held via the Australian Superannuation Fund which Mr Bayer controls. The group noted that Bayer now holds 114,999 shares via his Australian Superannuation Fund, and his total interest in the company through direct and indirect holdings is 143,179 ordinary ahares representing approximately 0.99% of the issued share capital.

InnovaDerma also announced that it was notified today that, Kieran Callan, its chief executive officer has purchased 3,500 ordinary shares in the company at a price of 65p each. Following tRead More – Source

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