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Bellzone knocks out £1mln placing after recent share price surge

Some of the main news-driven risers and fallers in London on Thursday ...
mine
Bellzone will use the cash injection to complete a feasibility study at Kalia

Bellzone Mining PLC (LON:BZM) has taken advantage of its recent share price surge to knock out a £1mln placing.

Shares have soared on Monday after formal approval for its Kalia ferronickel project was ratified by the Guinean government.

The company issued 167.7mln new shares at 0.6p apiece to bring in the £1mln, which it will use to fund the completion of the feasibility study at Kalia.

The plan is to have that study finished by the end of the year. Should the data come back positive, the plan is to develop the mine and production facility within six months of the feasibility study by the Ministry of Mines and Geology and achieve commercial production within a further six months.

It has been a difficult ride for the company, which has seen more than 99% of its value wiped away since the nickel price boom of the mid-noughties. Shares fell 22% to 0.7p – just above the issue price.

Bookies on the run as England crash out

Investors are betting that the bookmakers made a few quid as England crashed out of the World Cup at the hands of Croatia last night.

If history has taught us anything, it is to not back the Three Lions, but after a few decent performances and ‘It’s coming home’ memes popping up all over social media, there will no doubt be a lot of people who dipped into their pockets to stick a tenner on England.

On top of England’s semi-final heartbreak, the bookies will also have benefitted from some of the pre-tournament favourites – Spain, France, Belgium – all coming up short. A Croatia win on Sunday would be the icing on the cake.

That’s the hypothesis that the market seems to be working on anyway. Paddy Power Betfair plc (LON:PPB) is up 2.4% to 8,505p, while Ladbrokes and Coral owner GVC Holdings is up 1.4% to 1,099p. FTSE 250-listed William Hill is also on the up, gaining 1.4% to 300.2p.

Rockfire Resources leaps as serial AIM investor Paul Johnson takes a stake

Rockfire Resources PLC (LON:ROCK) shares gained 11% at 1.88p after the firm announced that on 11 July 2018, it was notified that serial AIM investors Paul and Michelle Johnson had a beneficial holding of 29,850,977 ordinary shares in the company, representing 8.69% of its issued share capital.

ADES jumps as it doubles drill rig fleet

ADES International Holding Ltd (LON:ADES) shares surged after it agreed to buy 31 onshore drilling rigs located in North Africa and the Middle East from drilling services powerhouse Weatherford International.

The deal doubles ADES operational drill fleet and includes contracts, management systems and approximately 2,300 staff throughout Algeria, Kuwait and Saudi Arabia.

At present, 20 of the rigs are under contract, with the rest to be used as inventory and for tenders.

Revenues from the Weatherford rigs are expected to be US$150mln a year and they will add US$750mln to ADES' order backlog. The purchase price is US$287.5mln to be paid through cash and debt facilities.

Shares jumped 15.7% to US$15.15.

GYG sinks on profit warning

Shares in GYG PLC (LON:GYG) sunk on Thursday after the superyacht painting and maintenance group said first-half trading had been “significantly weaker than expected”.

The AIM-quoted firm, which joined the junior market this time last year, said it had won fewer new contracts than it had been anticipating which will hit its full-year results.

“As a consequence, the group expects full year revenue to be flat on 2017 and adjusted EBITDA to be materially below the board's expectations at approximately €5mln.”

Shares plunged 38.3% to 81.4p.

ASOS falls despite solid growth

Online fashion retailer ASOS PLC (LON:ASC) was another of the morning’s casualties despite reporting what seemed like a decent third-quarter trading update.

Sales are up 25% so far this year, with the UK and Europe – ASOS’s two biggest markets currently – making particularly strong gains. Gross margins are up 130 basis points, ahead of expectations, as well.

The market seemed to take issue with guidance though, with full-year sales forecasts to be “towards the lower end” of the 25-30% range given earlier this year. Shares dived 12% to 5,752p.

AFC Energy rockets on contract win

There was some better news for AFC Energy PLC (LON:AFC), which rocketed higher on its first commercial order from Australia for a hydrogen power unit using its fuel cells.

Southern Oil will install the unit, expected to be between 200kW and 400kW in capacity, at its advanced biomass facility at Gladstone.

Details remain to be finalised though AFC Energy plans to sell the balance of the plant for its hydrogen generation unit to Southern Oil and lease the system's stack and electrodes for an undisclosed sum.

Northern Oil, a subsidiary of Southern Oil, is building a large industrial scale pilot plant where surplus hydrogen generated from the system is to be made available for consumption within a fuel cell.

Other Proactive news headlines:

ADES International Holding Ltd (LON:ADES) has agreed to buy 31 onshore drilling rigs located in North Africa and the Middle East from drilling services powerhouse Weatherford International. The deal doubles ADES operational drill fleet and includes contracts, management systems and approximately 2,300 staff throughout Algeria, Kuwait and Saudi Arabia.

As Europa Oil & Gas Holdings PLC (LON:EOG) today officially kicks off a data room for its farm-out efforts, the AIM-quoted explorer has added another big potential exploration programme offshore Ireland. The prospect, called Egerton, is described as being analogous to the Bay du Nord discovery, off the Canadian coast - in a similar geological setting, in the ‘conjugate’ on the other side of the Atlantic.

Itaconix PLC (LON:ITX), the designer and manufacturer of speciality polymers, is to raise up to £4.3mln (gross) through a share issue and make changes to its senior executive team.

ReNeuron Group PLC (LON:RENE), the cell therapy specialist, said it was making progress on three fronts as its latest update revealed it was well-funded for the next round of development.

Allergy Therapeutics PLC (LON:AGY) expects its top-line to jump once again this year, despite an “unusually weak” pollen season.

Primary Health Properties PLC (LON:PHP) has secured a contract to fund the construction of a purpose built primary care centre in the Republic of Ireland. The FTSE 250 healthcare-focused real estate investment trust said it had contracted to provide development funding for the construction of a new primary care centre in Bray, County Wicklow for €22.3mln.

Telit Communications PLC’s (LON:TCM) deviceWISE industrial internet of things (IIOT) platform is now fully interoperable with IBM’s Watson IoT platform.

After the close on Wednesday, BB Healthcare Trust PLC (LON:BBH) said the six months to the end of May had been another period of positive progress. During the period, the company's share price and net asset value (NAV) recorded total returns in sterling terms of 4.0% and 7.5% respectively.

Custodian REIT PLC (LON:CREI) has sold a 20,424 square foot town centre retail unit in Dumfries for £1.125mln. The UK property investment company said the sale price was in line with the June 30, 2018 valuation.

Braveheart Investment Group PLC (LON:BRH) noted that investee company Paraytec Limited has engaged an adviser to raise £4mln of equity fundraising. Paraytec said the funds will be used to fund the further development, regulatory approval and commercialisation of its innovative urine test for the detection and monitoring of bladder cancer.

Gfinity PLC (LON:GFIN) has appointed sports and media executive Graham Wallace to the newly created position of global chief operating officer.

Caledonia Mining Corporation (LON:CMCL) (TSX:CAL) has reported an increase in gold production year-on-year for the first half of the year at its Blanket mine in Zimbabwe. The AIM-listed gold miner said around 25,582 ounces of gold had been produced in the first half of the year, marginally ahead of the 25,316 ounces produced in the same period a year ago.

Strategic Minerals PLC (LON:SML) has released a quarterly update on its sales performance, for the Cobre magnetite tailings operations, which shows it had “maintained and improved” underlying volumes.

Asiamet Resources PLC (LON:ARS) has announced the appointment of Zsa Yusharyahya to the position of executive vice president - external relations based in Jakarta, effective 1 August 2018. It said Yusharyahya is a highly experienced public relations and communications specialist with an extensive senior management background across multiple business sectors.

G3 Exploration Ltd. (LON:G3E), an independent specialist in the exploration and development of coal bed methane gas (CBM) with roots in China and a focus on international expansion, said it has nominated Bryan Smart and Zhao Li Guo as non-executive directors of the company, to be voted on at its annual general meeting, which is being held on 30 July 2018.

OptiBiotix Health PLC (LON:OPTI), the life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skin care said it was notified on 11 July 2018 that Neil Davidson, its non-executive chairman acquired 210,000 ordinary shares in the company, representing 0.25% of the issued share capital, at a price of 71p per share, taking its total holding to 0.44% of the issued share capital.

Chaarat Gold PLC (LON:CGH), the AIM-quoted exploration and development company with assets in the Kyrgyz Republic, said it hosted the Kyrgyz Republic Investment Forum on 28 June 2018 and co-hosted with the Embassy of the Kyrgyz Republic and the European Bank for Reconstruction and Development entitled "The Kyrgyz Republic - Central Asia's next emerging market". The group said presentations from the Forum are available at https://www.chaarat.com/presentations.


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