Today we reported that intellectual property investor Imperial Innovations (LON:IVO) is raising £100mln after placing 23.5mln new shares at 425p apiece with institutional investors. The funds will be used to invest in target sectors and invest in existing companies in its portfolio.
Meanwhile, Sound Energy (LON:SOU) confirmed that it successfully began commercial production at its Nervesa gas field, onshore Italy. It should add important production volumes to the group’s steadily growing profile in the region. Production rates will be announced in due course.
Big plans for Amur Minerals (LON:AMC) after it doubled its drill capacity at the Kun Manie nickel deposit to capitalise on the Russian summer. It intends to drill 15,000 metres this year, the most it has ever managed in a single five month field season.
On the subject of drilling, Noricum Gold’s (LON:NMG) first drill holes from its Kvemo Bolnisi prospect in the Republic of Georgia have confirmed its potential for rapid development. Drilling will continue over the coming weeks, followed by pit design and mine planning with first production targeted by the end of June.
Over in vanadium, Bushveld’s (LON:BMN) Mokopane project in South Africa was valued at more than US$400mln. It reported that its estimated cash costs were also in the lowest quartile of current vanadium producers.
“The economics of the project will only get better” added chief executive, Fortune Mojapelo.
In other news, Asia-focused ticketing systems group Galasys (LON:GLS) expects its financial results to be in line with market expectations after winning numerous significant contracts during the year. Its two most recent contracts were worth a combined £290,000. But it remains cautious over possible legal costs following ongoing litigation that could see the profits fall below expectations.
Haydale Graphene (LON:HAYD) has released a new pipe-testing facility in Loughborough. The facility will be used to assess new graphene enhanced composites. Haydale’s subsidiary HCS has been developing new reinforced thermoplastic for the oil and gas industry.
And finally… Forbidden Technologies (LON:FBT) has announced the first sale of a paid channel for its video-based social network, eva. The channel has been licenced by We Are Experience, a London and New York based design agency.