Iofina plc (LON:IOF) is confident it can improve profitability and revenue as it takes advantage of an improved iodine marketplace, it said. Spot prices have risen 25% to US$24 per kg since the start of the year and continue to head north, and moving forward, the group will increase output but at lower unit costs.
Rose Petroleum PLC (LON:ROSE) is raising £3mln of new capital through an issue of share, with the cash earmarked for programmes in the Paradox basin, Utah. It is issuing 75mln new shares to new and existing investors at a price of 4p, compared to Thursday’s closing price of 5p.
VAST Resources PLC (LON:VAST) is aiming to re-open its Baita Plai Polymetallic mine in Romania in the middle of 2018, it said, posting full year results for the year to end March - a period, which saw output at its two existing mines rise. The group passed a major hurdle last month, when it received the right to mine at Baita Plai in Romania, where the firm also has the Manaila mine.
Westminster Group PLC (LON:WSG) said it had made “significant progress” on a long-term project in the Middle East and promised a further update “shortly”. At a reported £35mln a year, the airport deal would be transformational. It is one of several contracts currently under negotiation that are part of the security company’s increased focus on managed services.
Tharisa PLC (LON:THS) says it expects to produce 150,000 ounces of PGM (platinum group concentrate) and 1.4 Mt (million tonnes) of chrome concentrates in full year 2018, as it said its accquisition of MCC’s assets was now unconditional and effective from October 1. As reported previously, Tharisa will buy from MCC certain existing mining equipment, spare parts, as well as transfer employees currently on site and deployed at the Tharisa mine in South Africa
Cadogan Petroleum PLC (LON:CAD) revealed that chief executive Guido Michelotti had used his 2015 and 2016 bonuses to buy shares in the AIM-listed oiler.He bought over 4.63mln shares at 8.25p a pop.
Mining investor Metal Tiger PLC (LON:MTR) reported another strong rise in the value of its direct equities division in its latest half year. There was a net gain on investments at the half year of £2.06mln (£2.14mln) with the value of the Direct Equities division at 30 June totalling £6.35mln.