PhotonStar LED and Oilex were among the top risers today while Directa Plus and Senterra Energy were at the bottom of the pack.
PhotonStar shares have surged 178.26% to 1.60p after telling investors that it has received a letter of intent setting out a proposed roll-out of the group’s internet-of-things (IoT) platforms.
Oilex jumped 29.65% to 0.4.08 as it received government approval for a revised work programme on the Cambay field, in onshore Gujarat, India.
Directa Plus fell 20.44% to 72.0p after warning that it expects a significant reduction in anticipated revenues for 2017. Shares plunged 21.55% to 71.0p.
Senterra Energy dropped 1.02% to 2.75p as it said it looking for a replacement transaction after a deal to buy SIM-card technology business, Oasis Smart Sim, in Singapore collapsed due to "complexities" which took longer than anticipated. "Theboard believes that a replacement transaction will be found which could come from the oil and gas sector now that this sector has recovered," the company said.
2.35pm...Kromek forecasts improved full year revenue
Kromek PLC (LON:KMK) shares rose 8.01% to 30.24p after it forecast a sharp pick-up in revenue growth this year.
In a brief trading update, the radiation imaging specialist said new customers and the momentum of contract wins should mean a ‘step change’ in revenue growth in the new financial calendar year.
12.31pm...Sirius Minerals gains in first day of trading
11.39am....Direta Plus slumps on revenue warning
Directa Plus, a producer and supplier of graphene-based products for use in consumer and industrial markets, slumped after warning that it expects a significant reduction in anticipated revenues for 2017. Shares plunged 21.55% to 71.0p.
The company reported a 89% increase in full year revenue to €0.74mln but looking ahead, it said “deepening engagement with existing and potential customers to provide more comprehensive solutions will mean timeframe to adoption will be up to 12 months longer than previously anticipated".
It added: “As a result, and together with the now expected slowdown in volumes in 2017 into tyre segment and the time required to conclude the ongoing discussions on rental or sales of MDUs, the Group now expects a significant reduction in anticipated revenues for 2017.”
Directa, which raised €12.8mln when in floated on AIM last May, saw its adjusted loss after tax increase to €4.1mln for 2016, up from a €1.7mln loss in 2015.
On the updside, Oilex Ltd (LON:OEX) shares rose 15.24% to 0.363p as it received government approval for a revised work programme to analyse core data from its C-23z well in the Cambay field, in onshore Gujarat, India. The government also gave Oilex persimmon to carry out two workovers on the prospect, allowing the company to take advantage of a lower cost opportunity.
Stellar Diamonds PLC (LON:STEL) advanced 7.32% to 5.50p after saying it has signed tribute mining and revenue share agreements with Octea Mining Limited for the Tongo-Tonguma kimberlite diamond project in eastern Sierra Leone. Stellar said the deal will create the potential for “substantial near and long term cash flows”.
“The combined project has an initial 4.5 million carat resource which, due to the high grade (100cpht to 260cpht at +1.18mm) and high quality diamonds (US$209/ct to US$310/ct), is considered to be one of the highest value kimberlite ore bodies in Africa on a dollar per tonne basis,” said chief executive Karl Smithson.
Digital media and technology company Golden Saint Resources plc (LON:GSR) fell 4.80% to 0.0238p after the West African-focused gold and diamond miner it has raised £55,484 though the placement of 2.6bn shares at 0.21p each.
“The company intends to use the net proceeds of the placing to progress the company's alluvial and bulk sampling operations, to provide funding for the annual licence fees payable in relation to the group's three exploration licences and for general working capital purposes.”
09.21am....PhotonStar's shares sparkle
PhotonStar LED Group Plc’s (LON:PSL) shares surged 172.07% to 1.56p after telling investors that it has received a letter of intent setting out a proposed roll-out of the group’s internet-of-things (IoT) platforms.
The company’s halcyonPRO2 and CloudBMS systems, which operate intelligent lighting and building controls, has been trialled by a UK based student accommodation group for nine months (from July 2016) across a total of 167 rooms at one site.
According to the letter of intent, some 50,000 devices will be installed and there will be a process to survey the requirements of the accommodation group’s sites, which are located across 24 UK cities.
The company has entered into an option agreement to acquire one exploration licence and two exploration licence applications. The licences are adjacent to Keras Australia's Warrawoona Gold Project, which has a current Inferred Mineral Resource Inventory of 5.8mln tonnes at 2.2grams per tonne of gold for 410,000 ounces.
The company placed 21,400,000 new ordinary shares of 2p each, representing 8.6% of share capital, at a price of 5p each.
Berkeley Energia Limited (LON:BKY) shares fell 4.66% to 41.47p even as it said development of its Salamanca uranium mine was “progressing well”. The company said it has entered into an agreement with Glencore business, Asturiana de Zinc SAU, to supply locally sourced reagent from 2018 to 2021 at a cost substantially below the one estimated in the definitive feasibility study.