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Breakfast News - Sareum, UK Oil & Gas, Gama Aviation and more...

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Small Cap Breakfast                           

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AIM:

Total number of AIM Companies (Incl Susp):

937*

Total number of AIM Companies trading:

881*

*as at close of business  30 May 2018

Standard List**  of Main Market:

Total number of Standard List Companies

(Incl Susp):

137* 

Total number of Standard List Companies trading:

124*

*as at close of business  30 May 2018

NEX Growth Market:

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

85*

Total number of NEX Growth Market Companies trading:

83*               

*as at close of business  30 May 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   

Candover Investments plc (CDI) has left the Premium segment of the Main Market today

                                  

What’s cooking in the IPO kitchen?

NEX Exchange

Stratmin Global Resources RTO of Signature Gold  a specialist Australian gold exploration company focused on the exploration and development of large-scale Intrusion Related Gold System. Offer TBA. Due 4 June.  Will leave AIM under rule 41.

AIM

Block Energy— UK based oil exploration and production company whose main country of operation is the Republic of Georgia.  Raising £5m at 4p. Mkt cap £10.3m. Due 11 June.

Codemasters Group— video game developer and publisher, specialising in high quality racing games.  Offer primary raise of £15m, secondary of £170m at 200p. Market cap of £280m. Due 1 June.

Strongbow Exploration (TSX:SBW) intends to dual list on AIM.  Holds rights to the South Crofty underground tin mine, a former producing tin mine located in the towns of Pool and Camborne, Cornwall . The project is estimated to require the Company to raise £25 million over the next 18 months to progress to a production decision. Offer TBS. Due June.

Yew Grove REIT—newly formed Company will pursue its investment objective by investing in a diversified portfolio of Irish commercial property. Offer TBA. Due Late May

 

Main Market (Premium)

Utilico Global Income—  new actively managed income investment trust raising up to £100 million . Due 22 June.

On the horizon (speculative and rumoured IPOs)

Press reports that Abu Dhabi's VPS Healthcare which operates about 20 hospitals and over 125 medical centers across the Middle East, Europe and India,  is considering a London IPO.

            

Breakfast Buffet

Sareum* (LON:SAR) 0.77p £21.28m

“The specialist cancer drug discovery and development business, announced that it has regained worldwide rights to preclinical-stage small molecule inhibitors of Aurora and FLT3 kinases that have shown potential in acute myeloid leukaemia (AML) and other haematological cancers.” “The work done to date by HMUBEC has provided encouraging insights to the potential of the lead Aurora+FLT3 inhibitor candidate in AML and other haematological cancers. We are pleased to regain the worldwide rights to these inhibitors, particularly as recent industry activity suggests a resurgence of interest in Aurora kinase as a target for cancer drugs. In taking back full control, we now have the flexibility to further address the IV formulation issues and fully explore oral routes of administration including the use of novel delivery technologies that have emerged in recent years.”

 

UK Oil & Gas  (LON:UKOG) 1.45p £56.17m

The Oil and Gas Authority ("OGA") has extended the licence term of its 100% owned PEDL234 licence ("Licence") from 30 June 2018 until 31 Dec 2023

The Licence will now be converted to the 14th Licence Round Master Clauses Agreement which permits a Retention Area ("RA") covering the entirety of the 300 km2 Licence area to be created.

The agreed RA work programme includes:

Drilling of two further Kimmeridge Limestone step-out exploration wells in two new sites in the central area of the Licence. One well will also appraise the potentially significant Godley Bridge-1 Portland gas discovery

In the event of a commercial discovery, drill and flow test an appraisal well or sidetrack. Note that a sidetrack to the BB-1 discovery would fulfil this commitment 

 

Northbridge Industrial Services  (LON:NBI) 129.5p £33.54m

AGM Statement. "As we noted in the preliminary results announcement on 12 April 2018, sentiment in the oil and gas industry had begun to improve following the agreement between OPEC and other producer countries to reduce surpluses. This improvement in sentiment has become more noticeable since the beginning of the year, as the price of Brent crude continued to increase and approached $80 per barrel, and exploration and production activities have increased. This has been most apparent in our operations in Australia and our newly formed Joint Venture in Malaysia, with our local partner, Olio Resources SDN BHD. As a result of this, we have placed our first capital investment order for drill pipe since 2014. However, whilst activities have begun to increase, rental rates still remain depressed and will take some further time to recover.” FYDec18E rev £28.2m, pre-tax loss £2.5m.

 

Ariana Resources (LON:AAU) 1.27p £13.5m

Joint Ore Reserves Committee Resource update for the Kepez Prospect  (50% interest).

Global resource of c. 371,000t at 2 g/t Au and 14 g/t Ag for 23,900 oz gold and 164,300 oz silver (all categories). New estimate represents a c. 270% increase on a gold only basis from the previous estimate of c. 8,800 oz gold.

Kepez demonstrates potential to be mined as a series of satellite pits to Kiziltepe.

Potential resource extensions are represented by a number of drill holes including 9.6m @ 3.0 g/t Au + 119 g/t Ag, 6m @ 2.7g/t Au + 16 g/t Ag from near surface.

Environmental Impact Assessment extension granted recently to cover part of the Kepez North area; mining permit application process currently underway.

 

Stratex (LON:STI) 0.68p £3.15m

IAMGOLD Corporation has completed its preliminary studies at the Company's 85%-owned Dalafin gold project in Senegal. The mobilisation of drilling equipment to site is nearing completion and IAMGOLD will shortly commence a 5,750m Air Core, Reverse Circulation and diamond core drilling programme at the Madina Bafé prospect in the south of the licence area.

IAMGOLD focusing on exploration at Madina Bafé prospect as part of initial $4M earn-in to 51% of the Project;.

 

Gama Aviation (LON:GMAA) 220p £139.94m

“One of the world's largest business aviation services providers announced the extension of its seven-year Scottish Ambulance Service contract. The contract extension commences in June 2020 for a further period of three years and is expected to be worth in the region of £50m over that period.”

“This is testament to the dedication and expertise of our people, resulting in an excellent track record for delivery that has created an enduring relationship with accompanying contracted revenue streams. The forward visibility these contracts afford allows us to further enhance our support to the Service through the provision of state-of-the-art facilities in Glasgow and Aberdeen."

FYDec18E rev £172.9m and PBT £14.93m.

 

KCR Residential REIT (LON:KCR) 76p £7.49m

KCR Residential REIT announces that it has established a strategic relationship the, with Inland Homes (AIM:INL), the leading brownfield regeneration specialist and housebuilder with a focus on the South and South-East of England, to support the delivery of high quality, low-to-mid-priced housing for rent.

As part of the Agreement, Inland and KCR have identified an initial pipeline valued in excess of £100m from within Inland's current portfolio, comprising investment properties, units under construction and land with planning consent. Through these transactions, Inland intends to build a long term minority shareholding in KCR, providing Inland with exposure to the UK's fast-growing Private Rented Sector.

 

BlueRock Diamonds (LON:BRD) 1.32p £2.29m

The diamond mining company, which owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa  has raised £350k at 1.2p. “In addition to strengthening the balance sheet, the Company will use the larger part of the proceeds to expedite the development of KV01 (Pipe 1), which is very similar in geology and size to Pipe 2, but has an inferred grade of 6.3 carats per hundred tonnes ("cpht"), 40% higher than the inferred grade of Pipe 2 (4.5cpht).  In March 2018, the Company announced its intention to open mining operations in Pipe 1 and expected to be mining Kimberlite from Pipe 1 during Q3 2018.  The Company is ahead of schedule in its development of Pipe 1 with 107,000 tonnes of waste already mined and the first Kimberlite blast expected in the next three to four weeks.”

 

Healthperm Resourcing (NEX:HPR) 160p £13.9m

FYDec17 results.

2017 highlights:

Increased sales revenue of £0.24m in 2017 (2016: £2,000)

First sales realised in the UK and 4 NHS trusts engaged by 31 Dec 2017

Language training school established in the UAE

Loss after tax for the year ended 31 Dec 2017 of £2.1m (2016: £3.1m)

Basic and diluted loss per share for 2017 of £0.24 (2016: £0.38)

Post year end highlights:

New offices opened in London and Manila  

Increased headcount to over 60 full time employees (2017 average: 35)

 

Albert Technologies (LON:ALB) 37.5p £23.4m

The global software company with a proprietary developed autonomous artificial intelligence marketing platform has announced a proposed conditional placing of £13.6m at 37p. Use of funds includes expansion  of the Company's direct sales and marketing activities to support continued growth in its client numbers, as well as increasing the use of Albert within the Company's current customers' digital advertising and media buying campaigns;  and continued investment in the development and enhancement of Albert to ensure the platform retains its position as a market leader.

 

FYDec8E rev $3.3m and pre-tax loss $7.36m.

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