React Energy PLC (LON:REAC)
The energy-from-waste (EfW) project developer and operator with a market capitalization of just £2 million recorded a €1.54 million loss (pre-tax) in FY 2016 compared to a loss of €91,214 in the prior-fiscal. But the company expects to advance on its projects, taking “advantage of opportunities presenting themselves in the UK Energy from Waste Market”.
The renewed confidence comes from the loan facility provided by EBIOSS, a Spanish developer of waste to energy projects. REACT has “entered into mutually beneficial business arrangements” with EBIOSS to grow in the UK EfW market. EBIOSS, apart from helping Vast revive its strategy, has extended the term of its loan facility to January 2018 along with increasing its size from €0.75 million to €1.35 million.
Vast Resources PLC (LON:VAST)
The UK-miner explores and develops mineral projects in Sub-Saharan Africa and Eastern Europe and has a market capitalization of just over £10 million. The company said December 22 that it has been granted “two new prospecting licenses in Romania, which have demonstrated polymetallic mineralisation”. This expansion is in line with the miner’s strategy to further explore feedstock near its existing Manaila Polymetallic Mine, where production commenced in August 2015 and the company plans to expand it in future.
“This is a strategy that has generated significant interest from potential investors and I am pleased to report that we are currently conducting discussions with large private equity funds and investors”, said CEO Roy Pitchford.
“We are currently conducting discussions with large private equity funds and investors with a view to taking an interest in our Romanian subsidiary; thereby ensuring development initiatives are expedited without diluting shareholders of the parent company”, he added.