Venture Life Group (LON:VLG): Trading update
Market Cap: £21m; Current Price: 58p
Revenues up 57%
Venture Life issued a trading update for the year ended 31 December 2016.
The Group achieved record revenue of £14.3 million, an increase of 57% on the prior year.
The Group also expects its first full year of EBITDA profitability.
Associated cash conversion has also improved and as at 31 December 2016, the Group had cash of approximately £2.0 million.
Finally, the Company reported that its order book for 2017 is building well and January 2017 was 45% higher when compared to actual revenue recognised in January 2016.
NORTHLAND CAPITAL PARTNERS VIEW: Venture Life had a very good year in 2016. The Group’s growth strategy is delivering. Not only has the Company achieved record revenues, it is also now EBITDA profitable. Moreover, 2017 is off to a strong start.
Keras Resources (LON:KRS) – CORP: Placing
Market Cap: £6.5m; Current Price: 0.45p
Raises £600,000 to support the Klondyke Gold Project
Keras Resources has raised £600,000 through the placing of 171,428,571 shares at 0.35p per share, representing 10% of the Company’s issued share capital.
Following admission there will be 1,619,398,194 shares in issue.
NORTHLAND CAPITAL PARTNERS VIEW: Keras Resources will use these funds to support ongoing exploration at its 100%-owned Klondyke Gold Project, located in Australia. The funds will also be used to retire 12-month loan notes secured in February-16 and general working capital
Premier African Minerals (LON:PREM) – SPECULATIVE BUY*: Zulu update
Market Cap: £5.2m; Current Price: 0.2p
Completion of drill programme
Prem has completed a 2,500m drilling programme at the Zulu Lithium and Tantalum Project, located in Zimbabwe.
NORTHLAND CAPITAL PARTNERS VIEW: Premier African Minerals has completed its drill programme at the Zulu Lithium and Tantalum Project ahead of its target of mid-February. Sample preparation is underway and assay results will be announced in due course.