MTI Wireless Edge Ltd (LON:MWE) revealed Wednesday that Ginat Wave India Private Limited, its offset manufacturing company in India, has secured another large scale order, from a returning European customer, totalling €1.5mln. In a brief statement, the AIM-listed technology group, which is focused on comprehensive communication and radio frequency solutions across multiple sectors, said the order is for cable harnesses to be supplied over 5 years.
Thor Mining PLC (LON:THR) was on the ascent on Wednesday as it reported visible gold samples had been discovered at its Pilbara Goldfield tenements in Western Australia. The AIM-listed firm said visible gold had been found in 13 of 44 sediment trap sites at the project, a result it said was “very encouraging” ahead of laboratory assay work.
InnovaDerma PLC (LON:IDP) said it is trading in line with market expectations, buoyed by the stocking of its popular Skinny Tan line in 1,300 Boots stores. Revenues for the first four months of financial year were ahead 38%. InnovaDerma said Boots had increased shelving for its Roots hair care brand, which it described as “a major vote of confidence”.
Sound Energy PLC (LON:SOU) has signed a preliminary agreement to sell just over half of its stake in its Tendrara licences in East Morocco for US$113mln. The consideration is US$54mln cash and the rest a carry for future capital expenditure. Sound currently holds a 47.5% stake in the East Morocco licences but this will drop to 23.3% once the sale completes with the purchaser also having an option to acquire a further 9% within a year.
Greatland Gold PLC (LON:GGP) has identified multiple targets at its Paterson Range East licence in Western Australia following geophysical surveys at the site. In an update on Wednesday, the explorer revealed that a comprehensive ground gravity survey had been carried out, and the results were modelled in conjunction with previous data from an airborne magnetic survey.
Alba Mineral Resources PLC (LON:ALBA) said it has raised £350,000 (before expenses) through the issue of 218,750,000 new ordinary shares at a price of 0.16p each. The group said share warrants will also be issued to each subscriber in the placing, with one warrant to be issued for each share subscribed for, for a total of 218,750,000 warrants. The warrants will have an exercise price of 0.32p per share and an expiration date of 24 months from the date of issue. The proceeds from the share placing will be used to accelerate work activities in relation to the company's key mining assets (Clogau Gold, Amitsoq Graphite and Thule Black Sands Ilmenite) and for general working capital purposes.
Ceres Power PLC (LON:CWR) has developed its first zero-emission combined heat and power (CHP) system, designed exclusively for use with hydrogen fuel. The fuel cell specialist said in a statement that the hydrogen CHP is simpler than its existing fuel-flexible system, as it delivers an equivalent performance with fewer components and up to a 40% cost reduction, and it can be used in homes and businesses.
Iofina PLC (LON:IOF) has unveiled an investment in Organic Vines, a hemp seed production and genetics firm. The AIM-listed group has invested US$900,000 into Organic Vines as part of a US$1.9mln fundraising effort to support the company’s first grow cycle at its 240,000 square foot greenhouse facility in Denver, Colorado, which is capable of producing over 50mln hemp seeds per cycle.
Seeing Machines Limited (LON:SEE) has refreshed its supply agreement with chip manufacturer Xilinx for its in-car monitoring system Fovio. Unveiling the new agreement at its capital market day, Seeing Machines also said it had reduced the build cost of its Guardian fatigue monitoring system while Fleet Complete has been appointed to sell Guardian to the oil and gas sector in Australia.
Union Jack Oil PLC (UJO) shares climbed on Wednesday on the back of speculation about the West Newton project in East Yorkshire. The AIM listed company put out a statement mid-morning on Wednesday in response to recent market speculation in relation to West Newton volumetric data. Union Jack has a 16.665% interest in the West Newton licence, which is operated by Rathlin Energy. Rathlin completed flow testing of the A-2 well on 22 August, with analysis of the data gathered still ongoing, Union Jack said.
Pembridge Resources PLC (LON:PERE) has received the first revenues since copper, gold, and silver mining began again at the Minto open pit in October. In a statement, Pembridge said its Minto subsidiary has received a 90% provisional payment of US$3.4mln from Sumitomo Ltd for the concentrates produced in the month of October. Minto is an open pit and underground copper-gold-silver mine located in central Yukon, approximately 240 kilometres north of the capital Whitehorse along the Klondike Highway.
Aminex PLC (LON:AEX) aims to fast track its exploration programme in the Ruvuma Basin due to an improved business environment in Tanzania. A US$40mln work programme for 2020 has been submitted to the Tanzanian government and includes the drilling of the Chikumbi-1 well and the acquisition of extensive 3D and 2D seismic surveys over the Mtwara licence. Aminex is fully carried for the cost of the work through its farm-out with Omani group Zubair’s ARA subsidiary, where it expects to receive an advance payment of US$3mln shortly.
Frontier IP Group PLC (LON:FIPP) has said it is confident that its portfolio will continue to grow after profits in its latest full-year shot up 160%. The AIM-listed firm, which specialises in the commercialisation of intellectual property, reported a pre-tax profit for the year ended 30 June of £2.35mln, up from £902,000 in 2018, while total revenues jumped 81% to £4.27mln, reflecting an unrealised profit on investments of £3.85mln. In a separate announcement, the company said it had raised around £3.8mln through the placing of 8mln shares at a price of 55.5p each, a 9.9% discount to its Tuesday close price.
Arix Bioscience PLC (LON:ARIX) said an investee company has “in-licensed” an ATR inhibitor programme from one of the world’s leading cancer centres and a venture capital firm. Artios Pharma’s exclusive deal with The University of Texas MD Anderson Cancer Center and ShangPharma Innovation strengthens the company’s earlier-stage pipeline focused on the area of DNA damage response. DDR is a network of cellular pathways that sense, signal and repair DNA lesions.
Arix Bioscience also noted that that its portfolio company, Autolus Therapeutics PLC (NASDAQ: AUTL) has announced four oral and two poster presentations related to its AUTO1, AUTO2 and AUTO3 programmes at the 61st American Society of Hematology (ASH) Annual Meeting and Exposition, to be held December 7-10, 2019 in Orlando, Florida.
Tremor International Ltd (LON:TRMR), a global leader in advertising technologies, announced that its CFO, Yaniv Carmi, has sold 637,477 shares at 148p each due to personal tax issues relating to his relocation from Israel to the United States as recommended by his tax advisors. Following the sale, Carmi holds 15,427 Tremor ordinary shares and 2,575,329 unvested Restricted Stock Units (RSUs).
EQTEC PLC (LON:EQT) has agreed a deal with bond investors to help tie up the investment needed to kick off its North Fork biomass project in California after forest fires disrupted the financial process. Working with Phoenix Biomass Energy Inc, the company said it had agreed in principle “a path to financial close” with investors interested in its US$9.3mln of tax-exempt bonds and US$5.5mln of other bonds.
Live Company Group PLC (LON:LVCG) has signed a joint venture (JV) deal to bring its BRICKLIVE shows to South Africa. The agreement with South African event organiser WORLDSPORT will see the media group stage and promote BRICKLIVE shows in the country, with the first to take place in Cape Town in the first half of next year.
Adamas Finance Asia Limited’s (LON:ADAM) net asset value per share at 30 September was 84p or US$1.09 compared to 85p/US$1.10 at 30 June. Net assets were valued at US$95.9mln (30 June 2019: US$96.4mln) with the NAV impacted by a marginal decrease in the company's cash balance, which was used to pay expenses. The stake in Future Metal Holdings Limited accounted for 45.2% of NAV. A restructuring of the asset was completed in September 2019.
Blue Star Capital PLC (LON:BLU), the investing company with a focus on technology and its applications within media and gaming, announced that, at the general meeting held earlier today, all resolutions were duly passed. As a result, the company said it will proceed to complete the second placing, as announced on 16 October 2019. The company also announced the appointment of Derek Lew as chairman of its board, replacing William Henbury who retires with immediate effect.
genedrive PLC (LON:GDR), the near-patient molecular diagnostics company, announced its intention to propose to shareholders, for approval at the company's forthcoming AGM, the appointment of RSM UK Audit LLP as its auditor for the year ending 30 June 2020. The group said the decision follows a competitive tender process which has been overseen by the Audit and Risk Committee. PwC LLP, the company's current auditor, which undertook and completed the audit for the year ended 30 June 2019. It pointed out that PwC has confirmed to the company that it is not aware of any circumstances connected with its termination as auditor that it considers should be brought to the attention of the board, creditors or shareholders. The company's AGM will be held at 12:00pm on 27 November 2019 at 46 Grafton Street, Manchester M13 9XX.
RM Secured Direct Lending PLC (LON:RMDL) said that, further to its announcement of 17 October 2019, the expected timetable of its proposed fundraise of up to £10 million through the issue of new ordinary shares of £0.01 each is being extended to facilitate further discussions with certain investors with a view to securing a potentially material investment in the placing. The group said the proposed placing is now expected to close at 1.30 pm (London time) on 12 November 2019, but maybe closed earlier or later at the discretion of the company and broker N+1 Singer.
Summit Therapeutics PLC (LON:SUMM) (NASDAQ:SMMT) announced that its management will participate in two panel sessions at the World Antimicrobial Resistance Congress, taking place 7-8 November 2019 in Washington, DC. The group said, in the panel sessions, Dr David Roblin, Chief Operating Officer and President of R&D, Dr Richard Vickers, Chief Scientific Officer, and Dr David Powell, Head of Research, will highlight the potential benefits of developing new mechanistic classes of precision antibiotics, including potency against resistant and non-resistant bacteria with minimal disturbance to the gut microbiome.
Inspired Energy plc (LON:INSE), a leading energy consultant to UK and Irish corporates, announces that Mark Dickinson CEO and Paul Connor CFO, are attending the Mello London investor conference on Wednesday 13 November 2019. Dickinson will be presenting to delegates at the event, which is being held at the Clayton Hotel Chiswick, Chiswick High Road, London, W4 5RY.