Photo-Me International plc (LON:PHTM) is set to significantly expand its UK business by buying the photo division of supermarket giant Asda for up to £6mln.
The Asda UK business consists of 191 photo centres and 172 self-service kiosk sites and in 2015 saw unaudited sales of around £19.3mln and an unaudited loss of £3.4mln.
In other news, shares in Jersey Oil & Gas PLC (LON:JOG) advanced around 18% on Tuesday after it revealed it is bringing Norwegian major Statoil into its North Sea exploration projects through a new farm-out deal.
Statoil is to take 70% of UK Seaward Licence P.2170, Blocks 20/5b and 21/1d, which are located in the Central North Sea.
Elsewhere, Harvest Minerals Ltd (LON:HMI) has declared itself very pleased with the latest update from the Arapua Fertiliser Project, in Brazil, where it has now received positive results from agronomic and metallurgical test work.
Significantly the results confirm that no toxic elements are present at Arapua, while all the other findings have fallen within required specifications.
ECR Minerals (LON:ECR) has published an inferred resource for four tailings dumps at its Avoca project in Australia. Total inferred resources were 1,494oz from 154,000 tonnes of material.
ECR added it is considering other extraction methods and will look at the potential for aggregates from the dumps to be a second source of revenue.
Over at Hydrogen fuel specialist ITM Power (LON:ITM), it has signed a fuel supply contract with Commercial Group, one of the UK’s pioneers in the commercial use of hydrogen-fuelled vehicles.
The contract will see ITM Power supply Commercial’s fleet with hydrogen at £10/kg from its network of refuelling stations.
Meanwhile, the production team at Vast Resources PLC’s (LON:VAST) Pickstone-Peerless gold mine (PPGM) pulled out all the stops in the second quarter of 2016.
Both production and operating costs metrics topped market expectations, according to Vast Resources’ chief executive Roy Pitchford.
Over at Telit Communications Plc (LON:TCM), it is introducing five new Long-Term Evolution (LTE) wireless communication modules in North America and Europe.
Used to communicate machine-to-machine, Telit’s technology has firmly established the company at the heart of the next digital revolution – the internet of things (IoT).
Next, Metal Tiger PLC (LON:MTR), the investment company focused on the natural resources sector, is sitting on a cash pile of around £1.29mln.
The company issued an unaudited update on current assets as at the close of business on Friday, 19 August, in which it revealed total current assets, including cash, its tradeable equity investments and its share warrant profit margin, came to £6.53mln.
Challenger Acquisitions Limited (LSE:CHAL) has negotiated a deferred payment due to the company that sold it Starneth, the designer and builder of giant observation wheels.
Challenger had agreed to pay for the purchase of Starneth in instalments, and was due to make a payment on 15 July, 2016, but the three sellers of Starneth have agreed to a new payment schedule.
Aminex plc (LON:AEX) has appointed Ola Fjeld as a non-executive director. Fjeld is currently Chief Operating Officer of Ara Petroleum LLC Oman responsible for two subsidiary E&P companies operating within Oman.
And finally, Orosur Mining Inc (LON:OMI), the South American-focused gold producer, developer and explorer announces that Pablo Marcet, a Non-Executive Director of the company sold 1,000,000 shares on 22nd August at a price of CAD$0.315 (£0.188). Marcet now holds 1,215,338 shares of the Company, representing 1.23% of the shares outstanding.