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Breakfast News - ReNeuron, Gattaca, Eco Atlantic Oil & Gas and more...

Published: 11:37 19 Apr 2018 BST

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AIM:

Total number of AIM Companies (Incl Susp):

942*

Total number of AIM Companies trading:

889*

*as at close of business 18 April 2018

Standard List**  of Main Market:

Total number of Standard List Companies

(Incl Susp):

136*

Total number of Standard List Companies trading:

123*

*as at close of business 18 April 2018

 

NEX Growth Market:

Total number of NEX Growth Market Companies (Incl Susp):

87*

Total number of NEX Growth Market Companies trading

85*               

*as at close of business  18 April 2018

                                *A corporate client of Hybridan LLP

**  Standard Listing as defined by Hybridan LLP to be a business with strictly operational activity

 

                          

Dish of the day

No Joiners Today

Off the menu    

DHAIS has left NEX Exchange.

Stadium Group has left AIM following a cash offer.

                                               

What’s cooking in the IPO kitchen?

AIM

KRM22, a closed-ended investment company with a particular focus on risk management in capital markets, is looking to join AIM. Offer tbc, expected 30 April 2018

Serinus Energy -international upstream oil and gas exploration and production company. Its principal assets are located in Romania (development phase) and Tunisia (production phase).  Raising c.£10m. Offer TBA.  Due mid May.

 

Main Market Premium Listing

Avast, global cybersecurity provider with 435m users worldwide. In 2017, the Group's Adjusted Billings was $811 million, Adjusted Revenue was $780 million, Adjusted Cash EBITDA was $451 million.  Seeking to raise $200m. Due in May.

Fundamentum Supported Housing REIT. Raising £150m. Focussed on UK Social Housing assets. Due 2 May

Vivo Energy—retailer and marketer of Shell-branded fuels and lubricants in Africa, Due in May. 100% secondary sell-down of existing Shares by Selling Shareholders,  No new Money. Pricing TBA

Gore Street Energy Storage Fund—Seeking to raise £100m for the purposes of investment in a diversified portfolio of utility scale energy storage projects.  Due 03 May.

O

dyssean Investment Trust—Raising £100m at £1. Due 1 May. The Company will primarily invest in smaller company equities quoted on markets operated by the London Stock Exchange.

                              

Brunch Buffet

ReNeuron (LON:RENE) 74p £23.4m

The “UK-based global leader in the development of cell-based therapeutics,  announced that it is the lead industry participant in a new £1.5m grant award from the UK's innovation agency, Innovate UK, to advance development of its hRPC stem cell therapy candidate for blindness-causing degenerative diseases of the retina.

The grant has been awarded under Innovate UK's Medicines and Manufacturing Round 1: Challenge Fund and will co-fund a collaborative programme of work to be undertaken by ReNeuron and its partners, the Cell & Gene Therapy Catapult, Roslin Cell Therapies and University College London.  The project will allow the generation of further cell banks of ReNeuron's hRPC cell therapy candidate as well as the development of product release assays for late-stage clinical development and subsequent commercialisation of the therapy.

ReNeuron's hRPC cell therapy candidate is currently being tested in a Phase I/II clinical trial in the US, in patients suffering from the blindness-causing disease, retinitis pigmentosa. This new grant follows an earlier grant awarded by Innovate UK which supported the late pre-clinical development of the hRPC cell therapy candidate.”

FYMar19E rev £0.05m and pre-tax loss £26.58m.

 

Sunrise Resources (SRES.L) 0.14p £3m

The “company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA, advised the results of exploration recently carried out by the Company at its Baker's Gold Project in Western Australia.

Highlights:

Dicky Lee open pit developed in project area in the 1980s for production of specimen gold-quartz nuggets.

Mapping and chip sampling of gold bearing quartz-stockwork veins in Dicky Lee open pit; gold values to 32.1 grammes/tonne gold ("g/ t Au"), averaging 1.7 g/t Au.

Infill soil sampling at DRL4 target confirms 500m long gold-in-soil anomaly, increases tenor and enhances definition of drill target.

Commenting today, Executive Chairman Patrick Cheetham said: "These new and positive exploration results were generated at low cost and enhance the value and marketability of the Baker's Gold project as we continue our divestment programme of non-core assets and focus on the development our CS Pozzolan-Perlite Project in Nevada, USA."

 

Gattaca (LON:GATC) 193p £59.68m

HYJan18 results from the specialist Engineering and Technology (IT & Telecoms) recruitment solu­tions business.

Group Net Fee Income grew 12% on a statutory basis, with underlying growth in group NFI of 2% to £39.8m.

International NFI grew 5%driven by strong performance in the Americas (+30%), offset by a fall in Other International of 13%. 

Continued underperformance of Technology has resulted in a non-cash impairment of £17.1m. Underlying EPS down 25% to 14.5p. Interim div 3p.

“In February and March the business broadly traded in line with the Board's expectations. However, the changes being implemented in the Technology division in the coming months, alongside the economic challenges facing some of our sectors and territories make the backdrop to our full year expectations, which have a final quarter weighting, more challenging than at the time of the trading update of 7 February 2018, with the consequence that the Board now expects underlying profit before tax for the full year to be approximately 15% below its previous expectations.” “The Board believes the core parts of our strategy, which includes profitable international diversification and increasing activity in more innovative staffing models, remains sound, as does our hub and spoke model (low number of high density principal offices with small satellite sales offices). This structure has enabled Gattaca to deliver superior conversion rates over time.”

 

Eco Atlantic Oil & Gas (LON:ECO) 31.1p £49.5m

Update on the processing and interpretation of its recently acquired 2,550 sq km of 3D seismic on the Company's Orinduik Block, offshore Guyana.

Eco has recently received the latest set of deliverables in relation to the 3D seismic survey including PSTM Angle Stacks and associated Inversion products that better define the geological lithology of the play, provide a better imaging of the sands, and allow the interpreters to more closely define target fluids.

Tullow and Eco have begun their review and interpretation of this latest data set, which has also been copied and forwarded to Total E&P Activités Pétrolières. This is in addition to other previously received sets of filtered PreSTM Fast Track and data sets from Tullow, which in turn, have also already been received by Total for their review, in accordance with its 25 % farm-in option agreement and to help expedite the farm-out process.

The Company has been very encouraged to date by the quality of data received and interpretations to date, which have firmed up the previously outlined targets as well as identifying new additional potentially sizeable structures.

 

Phoenix Global Mining (LON:PGM) 4.2p £9.76m

“The North American-focused base and precious metals exploration and development company, is pleased to announce the results of the Preliminary Economic Assessment (PEA) for its Empire Mine project in Custer County, Idaho, USA.”

8,124 Tonnes Annual Copper Production (16% above original projections).

$65m average annual revenue, assuming $8,265 per tonne copper price across life of mine

8-Year Mine Life @ 0.24% Copper Cut-Off Grade

76% Heap Leach Copper Recovery

$61.2m pre-production capex

$4,068 per tonne Copper Cash Cost of Production

$53.66m after tax NPV (7.5% discount)

23.5% IRR after tax

PEA is based on open pit oxide copper production only, and excludes any potential revenue from gold, silver or zinc

 

Stratex International (LON:STI) 0.68p £3.15m

The gold-focused exploration and development company in Turkey and Africa, reports that Thani Stratex Resources Ltd, in which the Company holds a 30.4% interest, has today announced final results for its Phase 2 drilling programme at the Pandora gold project in Djibouti. These drilling results include one outstanding (>30 g/t Au) intersection on the previously untested Pyrrha vein.  Over 3,000m of drilling.

The best drill results include1:

8.30m @ 7.21 g/t Au from 144.55m, including 0.80m @ 26.10 g/t Au (Ok-D-25);

10m @ 1.20 g/t Au from 130.00m including 5.85m @ 1.90 g/t Au (Ok-D-29);

35.07m @ 1.28 g/t Au from 109.55m including 9.80m @ 3.06 g/t Au and 2.40m @ 1.75 g/t Au (Ok-D-31);

1.1m @ 5.10 g/t Au from 42.00m including 0.50 m @ 9.91 g/t Au, and 1.22m @ 55.40 g/t Au from 50.38m (Ok-D-32);

3.54m @ 2.35 g/t Au from 100.46m (Ok-D-33).

 

Shearwater (LON:SWG) 3.05p £30.34m

“The  digital resilience group, is pleased to announce that its recently acquired portfolio company, GeoLang Holdings Limited, has been awarded its first enterprise licence contract under G Cloud.

Under the terms of the agreement, GeoLang will deploy Ascema for Endpoint for an initial 3,500 end users on a rolling annual subscription, representing the launch of their new GDPR focused Data Loss Protection software platform for enterprises. 

Through this deployment, Ascema will initially enable the customer to detect all Payment Card Industry ("PCI") and Personally Identifiable Information ("PII") held across endpoints and servers via GeoLang's patented, keyword matching algorithm, which will assist in the production of PCI and PII audit compliance reports and facilitate General Data Protection Regulation "Subject Access" and "Right to be Forgotten" requests.

We could see no forecasts.

 

Redcentric (LON:RCN) 78.5p £117.82m

“Redcentric, a leading UK IT managed services provider, is today issuing a trading update for the year ended 31 March 2018.

The Company's trading results for the year were in line with the Board's expectations.

Net debt as at 31 March 2018 was £27.7m which was better than the Board's expectations. This is due to continued strong operating cash flows which reflect improved trade debtor collections.

The Company will report its full year results for the year ended 31 March 2018 on 28 June 2018.”

FY Mar19E rev £104.8m and PBT £12.5m.

 

MyCelx Tech (LON:MYX) 102.5p £19.28

 

The clean water technology company providing patented solutions for the Oil and Gas market and commercial industrial markets worldwide, announced that it has secured a new purchase order in Saudi Arabia and has sold equipment in Australia. The new purchase order is for a three-month extension for the rapid response unit that was placed in February 2018 and was secured in collaboration with one of the Company's Saudi waste management partners. The equipment sale in Australia marks the first sale into the LNG market in that country. As a result of these two developments, which have a combined revenue impact of $2.7m, and following the significant purchase order secured earlier this month, the Company is pleased to increase its 2018 revenue forecast range to $16 - $17m. Current consensus is $13.6m with a $0.4m pre-tax loss.

The Company continues to pursue further opportunities and looks forward to leveraging its success to expand its installation base in Saudi Arabia and Australia.

 

Cronin Group (LON:CRON) 2.5p £13.77m

“The company focusing on digitizing chemistry, announces that it has now entered into a second agreement for its DigitalGlassware™ Pioneer Programme, further to its previous announcement on 6th Feb 2018 that it had signed Memoranda of Understanding with leading international life science reagent and chemicals manufacturers.

The Company's DigitalGlassware™ platform, comprising a powerful and easy-to-use software interface with a unique, low footprint sensor array, collects, stores and processes data generated from chemical experiments and allows access to reproducible chemistry via internet protocols. Data analysis need not just be performed retrospectively, but in real-time and a-priori, delivering back to the users, data which when combined with artificial intelligence and machine learning technologies, has the potential to dramatically increase reproducibility and provide unique insights.”

We could see no forecasts.

 

 

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