Shares in Real Good Food PLC (LON:RGD) soared even higher this afternoon as it latest acquisition went down a treat with investors.
The AIM-listed food ingredients business has acquired a controlling stake in Welsh healthy snack bar maker Brighter Foods.
Real Good is splashing £9mln for an 84.33% stake in the business, which is based in Tywyn, Gwynedd, in mid-Wales.
The acquisition is expected to immediately enhance Real Good Food's earnings.
House broker finnCap responded to the news by upgrading its forecast of headline profit before tax for the current financial year by 71% to £6.4mln.
The broker is predicting profit before tax for the financial year just ended of £2.5mln.
Shares gained 32% to 30.8p.
Another company on a tear was Bushveld Minerals Limited (LON:BMN) which gained more than 12% to trade at 8.25p shortly before close after a couple of bits of good news today.
Firstly, the miner revealed it had signed a memorandum of understanding with Chinese group Sinohydro to work on a bankable feasibility study for the Imaloto thermal power plant project in Madagascar.
Fortune Mojapelo, Bushveld’s chief executive, said it was a major step forward for the project.
“Sinohydro and its parent company PowerChina, bring a wealth of technical expertise in building such projects and bringing them into operation.
The MoU reinforces the commercial merits of the project and the bankable feasibility study will add significant value to the development of the power project.”
Investors also welcomed progress on the acquisition of the Vametco vanadium mine in South Africa.
The deal has been in the pipeline for a little while now, but it is finally scheduled to close on Friday of this week.
12pm...Coal Of Africa fired up by Uiskomst acqusition
Coal of Africa PLC (LON:CZA) climbed 16% to 3.08p as it announced the acquisition of the Uiskomst colliery in South Africa from gold miner Pan African Resources plc (LON:PAF).
CoA is in the middle of restructuring the Makhado deposit also in South Africa and said it needs a cash generating asset to cover the costs of this process over the next 3-4 years.
Uitkomst consist of an existing underground coal mine (Uitkomst - South Mine) and a planned life of mine extension into the northern area (Klipspruit - North Mine).
For the 6 months to December, Uitkomst processed 236,011 tonnes and sold, including acquired coal, 327,000 tonnes of metallurgical quality coal for revenues of R225mln and underlying profits of R38mln.
Infinity Energy SA (LON:INFT) climbed 59% to 0.206p as chief executive Gerwyn Williams converted his convertible loan of £480,000 into new shares at an equivalent 0.13p. Williams’ stake now amounts to 36.52% of the investment company’s issued share capital.
Firestone Diamonds PLC (LON:FDI) has found its largest diamond to date, a 110 carat gem-quality light yellow diamond, during the ramp up phase at its Liqhobong diamond mine. The company said this diamond recovery confirms the significant larger stones potential that exists at Lighobong. Shares rose 10% to 49p.
Allied Minds plc (LON:ALM) has announced it is likely to take a $146.6mln writedown on the value of seven of its subsidiaries as part of a restructuring. The Neil Woodford-backed intellectual property commercialisation group said funding will discontinue at its Biotectix, Cephalogics, CryoXtract, Novare Pharmaceuticals, Optio Labs, RF Biocidics and Tinnitus Treatment Solutions businesses.
Shares plunged 17.6% to 219.8p.
9.00am...Rebel FC has Brave Bison fans cheering
Social video broadcaster Brave Bison Group PLC (LON:BBSN) has launched its very own football ‘super-team’, which it reckons will soon rival Premier League teams in terms of popularity.
Rebel FC will be made up of several big-name social media influencers, including YouTube star Callum Airey – A.K.A Calfreezy – who founded the team and has developed it alongside Brave Bison.
Shares rose 10% to 1.24p.
A new Texas reserves reports from Nostra Terra Oil and Gas Company plc (LON:NTOG) boosted its share price by 10% to 2.59p. The report, carried out by petroleum engineering consultant Booth Reeves, confirms 285,000 barrels of proven reserves at Pine Mills and 196,000 barrels across the group’s Permian basin assets.
Real Good Food PLC (LON:RGD) has acquired a controlling stake in Welsh healthy snack bar maker Brighter Foods. The Aim-listed food ingredients business will pay up to £9mln for an 84.33% interest in Brighter Foods, which is based in Tywyn, Gwynedd, in mid-Wales. Shares rose 11% to 27.75p.