Avesoro Resources PLC (LON:ASO) has suspended all processing and mining operations at the Youga gold mine in Burkina Faso following yesterday;’s security breach.
The shares tumbled 11% to 59p as the company said its chief executive officer, Serhan Umurhanm was on his way to the mine to assess the situation and determine when operations cane recommence.
As a precaution, all company staff at Youga have been relocated to Ouagadougou. Government security forces will remain on site to protect the company's assets.
Update on the Security Breach at Youga - https://t.co/rVl5kV3Wcp
— Avesoro Resources Inc. (@ASOResources) August 9, 2019
12.45pm: IXICO lands two new client contracts
IXICO PLC (LON:IXI) has confirmed it is on track to hit market expectations and said it is optimistic on the outlook for 2020.
Despite the board’s optimism, the shares fell 6.5% after another client stopped a trial after an interim data review. The total financial impact will be £3.5mln over full term of the agreement, which runs to 2025, IXICO said.
“Client change notifications are an industry norm, reflecting the key decisions made by our clients in the course of their clinical research studies as they learn more about the safety and efficacy of their drug assets,” said Giulio Cerroni, chief executive.
11.30am: TLA Worldwide to become a cash shell
TLA Worldwide plc (LON:TLA), a sports marketing business, backtracked 7.4% to 0.625p after announcing the proposed sale of its Australian businesses.
QMS Media will pay an enterprise value of A$28.235mln for the Australian businesses, which are being acquired on a debt-free basis.
The sale would leave TLA Worldwide as a cash shell, as it offloaded its US businesses late last year.
10.30am: WPP turns a corner – possibly
WPP PLC (LON:WPP) reported a 0.6% fall in like-for-like sales in the first half of the year as the advertising behemoth continued its drastic slimming campaign.
The performance in the second quarter was slightly ahead of market forecasts, with sales returning to growth, and in line with full-year guidance and medium-term targets.
“Clients are responding well to our new offer, as evidenced by recent wins and expanded assignments including from eBay, Instagram and L'Oréal,” said chief executive Mark Read.
WPP shares were the top performers among blue-chips on Friday, up 7.3% at 981.4p.
9.30am: Morgan Sindall raises full-year expectations after a strong first half
Construction and regeneration firm Morgan Sindall Group PLC (LON:MGNS) cranked up adjusted profits by 20% on flat revenue in the first half of 2019.
The shares were up 5.6% at 1,278p after the company said, after a strong first-half performance, it now expects to deliver a result for the full year that is slightly ahead of the board’s previous expectations.
The secured order book was up 19% from a year earlier to £4.2bn while the regeneration & development pipeline was up 6% to £3.3bn.
Shares in Alexander Mining PLC (LON:AXM) tumbled 18% to 0.035p after the company placed a mind-boggling 2.38bn shares at 0.02p a share, raising £475,000.
The funds raised will be used to keep the lights on and for business development purposes.
Nigel Burton, currently the non-executive chairman of Regency Mines and Remote Monitored Systems has been appointed to the board as a non-executive director.