PLC () was a bright spot in early deals on Tuesday, rising 7.3% to 103p on the back of a contract win.
The company has been chosen to provide a smart LED lighting system for a prestigious European-wide Inter City rolling stock project and has bagged a further contract award for electro-mechanical assemblies, for the UK rail sector.
The good news offset an admission from LPA that trading in the year to the end of September 2019 had, as expected, been “very challenging” although management was quick to highlight that a record order entry of £27mln was achieved in the financial year and market expectations should at least be met.
() was up 6.5% at 734p after it said its recently announced share placing was oversubscribed.
The company placed 7.89mln at 694p a pop and has conditionally placed a further 9.4mln shares at the same price.
Assuming the conditional placing of shares completes, the company will have raised £120mln through the issue of new shares.
Proactive news headline:
Learning Technologies Group PLC () expects underlying earnings for the year just ended will be comfortably ahead of market expectations. Adjusted earnings before interest and tax (EBIT) are expected to be at least £41.0mln for 2019, up from £26.0mln in 2018.
BlueRock Diamonds PLC () booked revenue of £4.1mln for the 2019 full year, up by 190%. During the second half of 2019, the company also turned a profit for the first time. The success was based on the sale of 12,675 carats from the Kareevlei mine in South Africa, up 118% on the previous year.
() has successfully applied for the extension of its licence over the Dalafin gold project in Senegal. The licence for the area, now renamed Senala, will be governed by the new Senegalese Mining Code and will secure the tenure of the licence for up to a further 10 years (plus up to two years special extension), subject to meeting the criteria at each renewal period.
() confirmed that it has now entered into the recently agreed ‘put and call’ option agreement to potentially sell its residual 20% stake in its Congo subsidiary, which holds a 56% interest in the Tilapia field. The call option sets out sale terms whereby Zenith will pay £1mln for the 20% stake in the business, should Tilapia production never exceed 2,000 barrels of oil per day over 30 consecutive days before 15 January 2021.
() has delivered a record second half in its latest financial year as its recurring revenue level continued to rise. In an update for the year ended 31 December, the security software group reported revenues for the last six months of the year had risen 10% on 2018, while order intake in the period increased 36% to US$8mln.
PLC () told investors its revenues had grown 366% to push through the £1mln barrier last year as it announced a deal with a firm that will “assist commercial enterprises in China”. Subsidiary Labskin has signed a memorandum of understanding with Innocare Group.
Premier African Minerals Limited () has had its RHA Tungsten mine in Zimbabwe connected to the national grid with sufficient power to start processing tailings at the site. The junior holds a 49% interest in RHA and is the operator.
() has increased its ownership in the Blanket gold mine in Zimbabwe to 64% through the acquisition of an additional 15% stake from Fremiro Investments. The original MOU was signed in November 2018, but it has taken until now for regulatory approvals to come through.
() has produced battery-grade lithium in conversion trials conducted on coarse spodumene concentrate samples taken from the company’s Ewoyaa lithium project in Ghana. Lithium carbonate at a grade of 99.92% Li2CO3 was produced, which exceeds most published specifications for battery-grade quality.
() is to appoint an operator for Minto Explorations Ltd, the company which runs the producing Minto mine in the Yukon. This will allow Pembridge to focus on complementary activities, including evaluating new investment opportunities.
Base Resources Ltd () has confirmed the existence of further high-grade mineral sands mineralisation at the Toliara project in Madagascar, following a 29,753 metre programme of aircore drilling. A preliminary mineralogical assessment of two high grade lower sand unit intercepts shows ilmenite, rutile and zircon makeup approximately 50% of the heavy minerals and are in similar proportions to those reported in the existing reserves estimate. The ilmenite, rutile and zircon minerals appear to be of saleable quality.
(), the developer of Affimer biotherapeutics and reagents, has announced the appointment of Paul Fry as a non-executive director with effect from 3 February 2020. Fry is currently chief financial officer of , an industry-leading inhaled drug delivery specialist, and prior to his current position, he was chief financial officer of Immunocore Limited, a leading biotech company focused on the development of a new class of immunotherapeutic drugs based on proprietary T-cell receptor technology.
(), the commercial passenger aircraft leasing company, said it has won the highly-coveted Aviation 100 European Editor’s Deal of the Year for Innovation 2019 award for the lease of three new ATR 72-600 aircraft to Braathens Regional Airways AB financed by the first-ever Green Loan for commercial aircraft. Avation executive chairman Jeff Chatfield commented: “We are delighted to be recognised with this award for Innovation as we align ourselves with airlines such as Braathens to deliver aircraft with low carbon emissions and fuel consumption, helping to support the goal of reducing the environmental impact of air travel.”