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Wishbone Gold shares surge as Honduran joint venture receives license

Last updated: 15:00 19 Dec 2018 GMT, First published: 09:11 19 Dec 2018 GMT

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Wishbone Gold PLC (LON:WSBN) shares surged 70% to 0.17p after announcing that its joint venture partner, Sion Honduras, has been granted a license to operate the plant and equipment on their first mining and processing site in Honduras.

The company said the plant will significantly boost the recovery of gold for the miners.

The project was initially delayed by the weather and licensing issues.

"I am pleased that our first plant is licensed and starting production,” said Wishbone chairman Richard Poulden.

HSS Hire Group PLC (LON:HSS) shares edged down 7.9% to 33.1p as the UK Competition and Markets Authority approved the proposed sale of its scissor lifts equipment firm to Nationwide Platforms Ltd.

Nationwide Platforms, a subsidiary of Loxam Group, is paying £60.5mln to buy UK Platforms Ltd from HSS.

HSS will use the proceeds of the sale to reduce debt. It will now focus on its core tool hire business.  

Velocys shares jump as it secures site for project with British Airways and Shell

Renewable fuels company Velocys PLC (LON:VLS) shares gained after securing a site for the UK waste-to-jet-fuel project it is developing with British Airways and Royal Dutch Shell PLC (LON:RDSB).

The 80-acres site is located near Immingham, North East Lincolnshire. A formal planning application process is expected to begin next year.

Velocys subsidiary Altalto Immingham Ltd has entered into an option agreement, which gives it the right to buy Rula Developments (Immingham) Limited, the company that owns the site, for up to three years.

Shares in Velocys rose 16.1% to 4.70p.

Microsaic Systems plc (LON:MSYS) shares fell 25% to 1.05p after saying its partner in bioprocessing has decided not to take the project forward into commercialisation.

The company said after phase two of the project was completed successfully, with a “clear addressable market identified and positive feedback received from potential customers”.

 But the group’s partner has decided to commercialise it “at this point in time” as it has decided to focus resources on internal projects that support its core business. 

888 gains as it confirms guidance

888 Holdings PLC (LON:888) shares jumped 7.5% to 182.8p as the online gaming company said it remains confident that its full-year adjusted underlying earnings (EBITDA) will meet its expectations.

The group said it has delivered further progress against its strategic objectives in the second half.

SIMEC Atlantis Energy Ltd (LON:SAE) shares rose 6.5% to 22p after saying it has reinstalled two 1.5MW turbines at the MeyGen tidal energy project in Scotland following modification work.

It also announced it has completed the sales of its 50% stake in its Canadian joint venture to partner DP Energy.

Litigation Capital Management (LON:LCM) had a good start to trading on AIM with its shares up 23% from its placing price of 52p to 63p. The provider of litigation financing reached a market capitalisation of £56.5mln on admission.  

Going the other way, Cambridge Cognition Holdings PLC (LON:COG) shares fell 23% to 77p after saying it expects a wider loss for the year as the adoption of IFRS 15 accounting measures will mean it reports slightly lower revenue.

The firm, which develops neuroscience technology to assess brain health, said the loss for the year is expected to be £1.5mln, compared to £300,000 in 2017. Revenue will be in the region of £6mln, down from the £7mln it had expected to report using the same accounting measures it used last year.  

Angus Energy PLC (LON:ANGS) shares dipped 14.7% to 11p after saying it would temporarily suspend operations over the Christmas and New Year holiday period at the Brockham oil field. It also said it has started a commercial flow test at the project. 

Flybe shares fly higher as it continues takeover talks with Virgin Atlantic

Flybe Group PLC (LON:FLYB) shares soared after saying takeover talks with Virgin Atlantic Ltd are continuing.

Flybe said Virgin Atlantic is reviewing its options, including a potential offer for the budget airline.

“There can be no certainty that any offer will be made nor as to the terms upon which any offer may be made,” it said.

In November, Flybe confirmed Virgin Atlantic as one of the parties it was in discussions about a possible sale of the airline.

Flybe is considering selling itself after issuing a profit warning in October, blaming subdued consumer demand, higher fuel costs and a weaker pound following the Brexit vote.

Shares gained 21.7% to 18.5p in morning trading.

Burford Capital Limited (LON:BUR) was also on the front foot after the investment management firm announced the structuring of new funding arrangements to facilitate its next US$1.6bn in litigation finance investments.

Capital will come from a sovereign wealth fund, a new private investment fund and the company's own balance sheet.

Shares jumped 15.8% to 1,504p.

Gulf Marine Services PLC (LON:GMS) shares slumped 61.1% to 12.6p as it said it expects to be in breach of certain banking covenants at the end of the year due to contract delays.

The provider of self-propelled self-elevating support vessels to the oil and gas and renewables sectors said the mobilisation of recently awarded contracts has been delayed until 2019.

The group said day rates in the industry have been affected by the impact of an oversupply of vessels on demand and this has been compounded by contract award delays and volatile oil prices. It therefore does not expect a recovery in its trading performance in 2019. 

Yu Group PLC (LON:YU.) said the Financial Conduct Authority is investigating the group over the accuracy of its announcements between March 6 and October 24, sending its shares down 32.5% to 72.5p.

The FCA is looking at whether the announcements “accurately reflected the group's financial status”, Yu said.

Proactive news headlines:

Corero Network Security PLC (LON:CNS) has secured orders from three customers for its security services and technology totalling over US$1mln.

FairFX Group PLC (LON:FFX) shares surged in early trading Wednesday as it was poised to enter the US market after entering an agreement with New York-based Metropolitan Commercial Bank to provide payments services to its customers.

StatPro Group PLC (LON:SOG) has inked a three-year contract with a large European insurance group for its Revolution Delta service.

Amryt Pharma PLC (LON:AMYT) said it has opened the first US site for its global AP101 EASE Phase III clinical trial being conducted in patients with the rare skin condition Epidermolysis Bullosa. The AIM-listed company also said it has received notification that the Independent Data Monitoring Committee is scheduled to meet on 21 December to review the EASE data.

Gold miner Scotgold Resources Ltd (LON:SGZ) is to break ground on the Cononish mine in the Trossachs National Park following completion of all permitting conditions. First gold production is planned for the end of 2019.

Faron Pharmaceuticals Ltd (LON:FARN) has gone some way to understanding why its Phase III clinical trial on patients with a condition called acute respiratory distress syndrome didn’t yield the anticipated results. It said its pharmacokinetic/dynamic study showed that the way it formulated its interferon-beta drug Traumakine was not an issue.

Silence Therapeutics PLC (LON:SLN) has added a new siRNA (short interfering RNA) asset to its pre-clinical pipeline for the potential treatment of cardiovascular disease.

SIMEC Atlantis Energy Ltd (LON:SAE) has completed the redeployment of two turbines at the MeyGen tidal energy project in Scotland along with the sale of its 50% stake in a Canadian joint venture.

KR1 PLC (LON:KR1) has raised a total of £785,000, before expenses, through a share placing to allow it to boost its investments in the blockchain token community. The blockchain and cryptocurrency investor said the placing of 15,700,000 ordinary shares was undertaken at a price of 5p per share by Peterhouse Capital.

FFI Holdings PLC (LON:FFI) lowered its full-year profit expectations after a below par performance in its core film insurance business. While the number of completion contracts signed rose in the half year to September, they were lower budget productions and fees fell.

Brady PLC (LON:BRY) has appointed a new chief executive (CEO) while its executive chairman will switch into a non-executive role.

Alba Mineral Resources PLC (LON:ALBA) told investors on Wednesday that a commercial flow test programme has started as its part-owned production licence 235 at the Brockham oil field.

Red Rock Resources PLC (LON:RRR) has noted the latest update from Jupiter Mines, which owns 49.9% of the Tshipi manganese mine in South Africa. As long as the manganese price stays robust, Tshipi intends to pay R1bn (£55mln) in a final dividend of which Jupiter intends to distribute close to all of its share.

MaxCyte PLC (LON:MXCT), the global cell-based medicines and life sciences company said it has appointed CohnReznick LLP - which ranks among the largest accounting, tax and business advisory firms in the United States - as the company's independent auditor for the financial year ended 31 December 2018.

APQ Global Limited (LON:APQ), the emerging markets growth company said that, as at the close of business on 30 November 2018, its unaudited book value per ordinary share was 99.43 US cents, equivalent to 77.93p. The company also announced that it has issued a total of 79,735 ordinary shares to employees of the company as part of a management share-based compensation scheme, including its chief executive officer, Bart Turtelboom, who has received 70,097 ordinary shares. It added that, following that share issue, Turtelboom is interested in 22,075,097 ordinary shares, representing 28.25% of the company's issued share capital.

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