The group’s main customers are in the hard hit oil and gas sector but since 2005 the company has been coating aerospace components and courting Airbus as a potential customer.
The final part of the approval process is complete, following technical qualification of the Hardide-A coating by Airbus as an alternative to hard chrome plating.
Shares rose 8% to 1p.
Security camera group Petards PLC has won a a contract to supply Stadler Bussnang with its eyeTrain CCTV and Automatic Selective Door Opening systems.
The new contract, worth £4.3mln, will see CCTV and ASDO systems integrated into Stadler's FLIRT(UK) trains.
Shares rose 13% to 32.2p.
2pm...Bellzone heads higher as Guinea agrees to Kalia development
“The Minister's letter expresses his hope that Guinea and Bellzone will make their best efforts to reach a consensus on any consequential residual points so that a formal record of the agreement can be signed within one month,” said the company.
As a result of the progress, Bellzone has completed the final draw-down of US$0.5mln from the first loan facility of US$6.5mln agreed with Hudson Global.
Shares rose 32% to 0.31p.
Sabien Technology PLC (LON:SNT) slumped 56% as it warned the slow conversion rate of the pipeline to confirmed sales orders will mean its trading performance for the financial year will be considerably below expectations.
A further fundraising today has raised £475,000 at 1p, and the share fell to 1.32p to reflect the substantial discount.
10.00am...Circle Holdings retreats from market's gaze as Tosca backs buy-out
Tosca, through three funds, already owns 26.75% and does not think that operating in the public listed markets is optimal for the private healthcare group ' in terms of the achievement of its business plan'.
Circle was the first private group to run a NHS hospital when it was put in charge of Hinchingbrooke Hospital in Huntingdon, but it walked away from the contract two years ago after heavy criticism saying that contract was no longer sustainable due to spending cuts.
China New Energy PLC (LON:CNEL) stormed higher as it won contracts with Ghana’s Supercare and CNBM General Machinery in China to construct a new ethanol plant in Ghana.
The new cassava-to-ethanol plant will produce 45mln litres of ethanol per annum to be used primarily by the food industry.
CNE’s portion is US$12.5mln with the contract to start in May 2017 and commissioning for the first quarter of 2018.
Shares rose 30% to 1.52p.
Baron Oil PLC (LON:BOIL) has been repaid the final £200,000 owed to it by renewables group InfraStrata. Baron can receive an additional £200,000 if InfraStrata is taken over or sell sits assets. Shares rose 14% to 0.37p.
Proactive news headlines
The annual results statement from Faron Pharmaceuticals Ltd (LON:FARN) charted a period of progress and success with its main drug candidate. Traumakine, used to treat acute respiratory distress syndrome, is undergoing a phase III clinical trial with results expected in the second half.
Lucky Wingabar, mySQUAR Limited's (LON:MYSQ) casual gaming platform, has been officially launched with five casual games designed for short playing times.