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The Markets
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The Markets
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Investments and investor services

Proactive news summary: Connemara Mining, Horizonte Minerals, Ariana, SeaEnergy, Regency Mines ...

Ariana and Connemara were the star performers in the Proactive universe today

We start with a bit of a focus on technology and software group Globo, (LON:GBO) which saw sales and earnings grow strongly in the first three months of its current fiscal year.

Driven by demand for its mobile-based organiser app Go!Enterprise, revenues overall rose by 36% to €23.7mln, with Go!Enterprise notching up more than doubled sales of €13.3mln.

Polymer technology specialist Revolymer (LON:REVO) said it has signed a further licensing deal with Solvay.

The Belgian chemicals giant has been granted exclusive rights to apply Revolymer’s encapsulation technology to Oxyper, a cleaning agent. This will allow the active ingredient, sodium percarbonate, or SPC for short, to be added to cleaning liquids.

Seeing Machines (LON:SEE) shares advanced as it started the ignition for its new bus and truck fleet product, with the signing its first customer.

South African firm Insurance Underwriting Managers (IUM), which focuses on commercial fleet markets, is purchasing 750 units of the driver fatigue monitoring device.

Innovative provider of solutions to the global energy industry, SeaEnergy (LON:SEA), has been short-listed for a press award.

The first Press & Journal Gold Awards ceremony will be held this week in Aberdeen, centre of the UK's North Sea oil industry, and SeaEnergy is in the running for the “Innovation in the Future” category.

Sticking with the North Sea theme, oil junior Independent Oil & Gas (LON:IOG) has revealed it is closer to securing a significant new funding package.

A letter of intent has been signed with “an internationally listed group with a multi-billion dollar market capitalisation” relating to this funding, IOG said.

Azonto Petroleum (LON:AZO) told investors that Glen Whiddon is re-joining the company, as a non-executive director.

Whiddon, formerly chairman, left in 2012 to pursue of other interests and he is a major shareholder in the company as he retained a 7.3% interest.

In the mining sector, Savannah Resources (LON:SAV) continues to see good gold grades at its Block 4 project area in Oman and has identified a new prospect - Salahi 1.

Recent trenching, rock chip and grab samples have produced results of up to 72.2 grams per tonne (g/t) gold, with finds including 12 metres at 11.87 g/t gold.

Ariana Resources (LON:AAU) shares soared after it said it has been granted a forestry permit for the Red Rabbit Gold Project in the West of Turkey.

It means the company and local partner Proccea can now begin construction of the Kiziltepe mine, which will produce 21,000 ounces of the precious metal a year.

Ferrex (LON:FRX) remains confident it will be awarded a mining permit for its Nayega manganese project in the next few months.

The explorer recently published a maiden reserve for Nayega following its work on a definitive feasibility study for the project.

Sector peer Regency Mines (LON:RGM) said RAM, in which it holds a stake, will kick off this month a 1,500m drill programme at the Fraser Range South project in Australia.

Regency is converting 3.9% of its carried interest on the overall Fraser project into RAM shares under the placing by RAM announced last month to raise A$645,000.

Connemara Mining (LON:CON) shares surged as the firm, which holds interests in 35 exploration licences in Ireland, posted final results.

The gold, lead and zinc firm, which has joint ventures with Canadian Teck and Hendricks, said it was financially secure, having raised funds last year.

In-fill drilling at Horizonte’s (LON:HZM) Araguaia project in Brazil has returned consistent grades of more than 2% nickel.

At the Pequizeiro deposit grades were up to almost 3% nickel at widths up to 19m, while at Jacutinga results were similar with the best more than 3% over a 4m stretch.

In the healthcare sector, Constellation Healthcare (LON:CHT) has made a bright start to the current trading year with fourteen new clients added as well as the acquisition of Physicians Practice Plus.

The company specialises in back office services for doctors’ surgeries, especially billing and money collection and Paul Parmar, chief executive, told its annual meeting that trading so this year far had met expectations with Physicians Practice Plus, acquired in March, already proving a success.

ANGLE (LON:AGL) has hired cancer and pathology specialist James Reuben as its new scientific advisor with immediate effect.

Reuben is a professor at The University of Texas MD Anderson Cancer Center, a well-respected facility exclusively focussed on cancer treatment and research.

Sphere Medical (LON:SPHR) has started to look for a replacement for Matthew Hall, who has resigned as chief financial officer after four years at the med-tech group.

Anthony Martin, Sphere’s chairman, said Hall had made a significant contribution to the firm and had been integral to its recent £13.2mln placing and open offer. In addition, "He was instrumental in concluding the collaboration agreement with Ortho-Clinical Diagnostics in July 2013 and the associated equity fund-raising," said Martin.

Shares in Gear4Music (LON:G4M) rose to a premium on the company's AIM début this morning.

The music instrument retailer, which primarily operates online, raised £9mln in its AIM market IPO which saw shares sold to institutional investors at 139p.

Finally, a grand launch ceremony for Westminster's (LON:WSG) new flagship ferry, Sierra Queen, will take place in Freetown, Sierra Leone, on June 11.

The new service is expected to start trial operations shortly afterwards, the firm said.

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