Georgian Mining Corporation (LON:GEO) practically tripled in share price after it received confirmation of tenure for two key deposits in the Bolnisi Project licence area.
The National Agency of Mines (NAM) confirmed the tenure of Kvemo Bolnisi East and Dambludi.
Alongside this tenure confirmation, correspondence from NAM seeks to return the remainder of the Bolnisi Project licence area, including three further deposits identified by the company, being Kvemo Bolnisi West, Tsitel Sopeli and Balichi, to the State. Georgian Mining intends to appeal against this decision.
3.10pm: Saga on a rising tide
Saga PLC (LON:SAGA) cruised 6.9% higher to 44.64p after it said its insurance broking and travel businesses were both continuing to improve.
Recent trading has given management confidence in the strategic U-turn taken last year, Saga said.
Reporting on the end of an eventful year to end-January, the over-50s products and services specialist said full-year underlying profit before tax was “in line” with wide previous guidance of somewhere between £105mln and £120mln amid the still-tough insurance and travel markets.
2.30pm: Audioboom's Originals Network gets three new podcasts
The podcasts are 'The Sitch with Mike and Lauren', 'Truth vs Hollywood' and 'Life's Little Mysteries'.
"We remain extremely excited by the continued expansion of our Audioboom Originals Network, which is central to our growth strategy, underpinning higher margin returns and further enhancing our IP [intellectual property]," said Stuart Last, the chief executive officer of Audioboom.
1.30pm: Itaconix scrubs up well
Itaconix PLC (LON:ITX, OTCMKTS:ITXXF) has unveiled a new addition to its range of high-performance detergent polymers, sending it shares 14% higher to 1.45p.
The new product, Itaconix TSI 322, is the result of what the firm said was ongoing engagement with current and potential customers for “dishwashing detergents to meet changing consumer buying behaviour”.
The polymer is designed to deliver “excellent performance” while replacing multiple ingredients to deliver cost savings and more compact and sustainable products, the company said.
12.30pm: Bid approach absolutely topping for Frenkel shareholders
Under the City code on takeovers, Harwood has until 5pm on 25 February to go firm with its offer or walk away.
11.30am: Golden Rock on a roll after block of shares changes hands
Wei Chen, an executive director of the company, trousered £420,000 after selling is entire shareholding at the equivalent of 9.375p a share.
The shares have been bought by GSB Gold Standard Banking, whose principal operations include trading rare and raw materials and precious metals.
10.30am: Luceco an early bright spot after lifting profits guidance
The company revealed that adjusted operating profit is expected to be in the range of £17.5mln to £18.0mln for 2019, up from £8.5mln in 2018.
The guidance range for adjusted operating profit in 2020 has been lifted to £20.0mln - £21.5mln.
9.30am: It has to be Yu
The independent supplier of gas, electricity and water to the UK business sector said revenues for 2019 are expected to be ahead of expectations at around £110mln, up from £80.6mln the year before.
Adjusted underlying earnings (EBITDA) are expected to be at least in line with market expectations, Yü Group said.
The board now expects to deliver reported revenues for 2019 of about US$30mln, down from US$34mln in 2018, which is in line with market expectations. EBITDA and pre-tax profits are also expected to be in line with market expectations for the year.
Proactive news headlines:
Avacta PLC (LON:AVCT) has established proof-of-concept for a potential new cancer therapy that combines two established treatments and which outperformed the best-in-class medication in the lab. The group's TMAC drug conjugate has brought together a PD-L1 checkpoint inhibitor with an I-DASH drug warhead using the company’s two technology platforms – its Affimer immunotherapies and pre|CISION chemotherapies.
Itaconix PLC (LON:ITX) (OTCMKTS:ITXXF) has unveiled a new addition to its range of high-performance detergent polymers. The new product, Itaconix TSI 322, is the result of what the firm said was ongoing engagement with current and potential customers for “dishwashing detergents to meet changing consumer buying behaviour”.
SDX Energy PLC (LON:SDX) told investors that its latest new well in Morocco, OYF-2 has successfully encountered commercial quantities of gas, in excess of pre-drill estimates. The OYF-2 well was drilled down to a depth of 1,210 metres. It encountered gas in both the upper and lower Guebbas formations. Both reservoir targets were found to be thicker and of better quality than expected, SDX revealed in a statement on Tuesday. The company noted that the discovery confirms that its core productive area extends to the north.
Premier African Minerals Ltd (LON:PREM) has signed a cooperation agreement with MN Holding Ltd for the supply of mining and exploration machinery and for professional assistance with the optimization of the Premier's various mining and exploration operations. Separately, Premier African said that Regent Mercantile Holdings Ltd has agreed to a further extension to the repayment terms of the convertible loan note for US$350,000 entered into on the 21 June 2019.
Coinsilium Group Limited (LON:COIN) has announced a strategic investment agreement with IOV Labs, the developer of a smart contract platform secured by the Bitcoin network. The blockchain investment and advisory firm said under the terms of the deal, IOV will invest £250,001 into Coinsilium through a private placement to subscribe for around 9.4mln new shares at a price of 2.65p each, a 29% premium to its closing price on Monday.
IronRidge Resources Ltd (LON:IRR) has delivered a maiden mineral resource for the Ewoyaa lithium project in Ghana. The new resource amounts to 14.5mln tonnes grading 1.31% lithium oxide (Li2O) across three deposits, Ewoyaa, Abonko and Kaampakrom.
Oncimmune Holdings PLC (LON:ONC) has shared the findings of a report that showed its EarlyCDT Lung product is more cost-effective than the current method of diagnosis - computed tomography (CT) surveillance. In fact, the study, led by Leeds University Academic Unit of Health Economics, said the test sped up the process of discovery too. The company’s technology had an incremental cost-effectiveness ratio of less than £2,500 when compared with CT surveillance, the Leeds report concluded.
OptiBiotix Health PLC (LON:OPTI) has extended the terms and territories of its original distribution agreements with CTC Holding and Cambridge Commodities. The agreement with CTC Group has been extended to include the distribution of OptiBiotix’s SlimBiome Medical and GoFigure products. Cambridge Commodities, which has the right to distribute OptiBiotix’s SlimBiome weight management technology in the UK, has now been granted exclusivity for its UK distribution rights while the distribution has been extended to include Ireland.
Motif Bio PLC (LON:MTFB) is a step closer to becoming a cash shell after coming to an arrangement with Hercules Capital, its senior secured lender. Motif’s directors are focused on sourcing an appropriate reverse takeover candidate for the company. Once it has officially been designated as a cash shell, which will happen once the agreement with Hercules becomes effective, the company will have six months to execute a reverse takeover, otherwise, its AIM listing will be suspended.
Condor Gold PLC (LON:CNR) (TSE:COG) has been granted an extension until July 2021 to allow it to complete the conditions of the key environmental permit it has already been granted to develop and extract ore from the proposed open pit at the La India gold project in Nicaragua. Meanwhile, the mine schedule and waste dump schedule have been completed for the La India open pit, which hosts an economic mineral reserve of 6.9mln tonnes grading 3.1 grams per tonne gold for 675,000 ounces of gold in total.
Pembridge Resources PLC (LON:PERE) has begun haulage of copper concentrate from its Minto mine in the Yukon in Canada to an ore storage facility 450 kilometres south in Skagway, Alaska. The miner said haulage will be continuous until an ice bridge across the Yukon River breaks up in the spring, after which it will recommence in June where it will be shipped across the river by barge.
Clear Leisure PLC (LON:CLP) has provided investors with an update on two companies in its technology portfolio, PBV Monitor and ForCrowd. The investment firm said Italian legal database firm PBV, in which it holds a 10% stake, has received a €300,000 investment from an Italian investment firm that also holds a minority stake in Clear Leisure.
Amur Minerals Corporation (LON:AMC) has released findings of a new study as part of its Russian approvals process. The study, on the Kun-Manie project’s rock mechanics, is a part of the company’s Permanent Conditions TEO – which is a Russian equivalent of a feasibility study process – and it has now been filed with the authorities.
Jubilee Metals PLC (LON:JLP) has posted a 74% increase in combined second-half revenue to £25mln when set against the first half of the year, as new production from its Windsor operation came on stream and consolidated. Jubilee has made a speciality in recent years of producing metal from tailings and old dumps, in particular, chrome and Platinum group metals. The growth in revenue translated to a 47% increase in combined second half operational earnings to £8mln.
Next Fifteen Communications Group PLC (LON:NFC), the digital marketing and communications firm is confident of repeating strong revenue and profits growth in the coming year. In a trading update covering the year to the end of January 2020, the firm said revenues and profits should be up year-on-year by a double-digit percentage and it expects to repeat that sort of growth in the coming year. The top line has been dented a bit by the recent strength of sterling but revenues for the full year are still expected to be broadly in line with the board’s expectations.
BlueRock Diamonds PLC (LON:BRD) is meeting with the local community around its Kareevlei diamond mine in South Africa, following a peaceful demonstration on Sunday. BlueRock holds a 74% interest in Kareevlei. Production at the mine has not been materially affected, and all operations are online.
Anglo African Oil & Gas PLC (LON:AAOG) has told investors it is “currently perfecting the security” which is being granted to Zenith Energy Ltd as part of a £250,000 loan agreement. Zenith agreed to provide the loan alongside its acquisition of an 80% interest in AAOG’s Tilapia field in the Congo, and to complete the process, AAOG must make changes to the now part-owned subsidiary in the Republic of Congo.
Bluejay Mining PLC (LON:JAY) expects to hear a response in early February to its environmental impact application for the Dundas minerals sands project in Greenland. The social impact assessment (SIA) is also in its final round following a review and amendment process with the Ministry of Mineral Resources, said the explorer.
ECSC Group PLC (LON:ECSC), the provider of cybersecurity services, said it has received an Award for Excellence at PCI (Payment Card International) London 2020, the region's best-known gathering of payment risk and security professionals. The annual awards recognise the outstanding work across the payment card industry, reflecting demonstrable best-in-class abilities. This will be the fourth year in a row that ECSC has received this accolade. Ian Mann, ECSC’s chief executive officer commented: "This is testament to our time within the industry and the wealth of expertise across the whole business."
Bango PLC (LON:BGO), the mobile commerce company, announced that on 27 January 2020, its chief executive officer, Paul Larbey purchased 17,297 ordinary shares in the company at a price of 104p each. Following the purchase, the group noted, Larbey has a beneficial interest in 18,297 Bango ordinary shares representing approximately 0.03% of the group’s total issued share capital.
accesso Technology Group PLC (LON:ASCO), the premier technology solutions provider to leisure, entertainment, hospitality, attractions and cultural markets, said it was notified that its non-executive chairman, Bill Russell purchased 20,000 ordinary shares in the company on 27 January 2020, at an average price of 345p each. Following this purchase, the group noted that Russell holds an interest of 30,000 accesso ordinary shares, representing approximately 0.1% of the group’s issued share capital.
Verona Pharma PLC (LON:VRP) (NASDAQ:VRNA), a clinical-stage biopharmaceutical company focused on respiratory diseases, announced that its CFO, Piers Morgan will present a corporate overview and host one-on-one meetings at the LSX World Congress taking place in London on February 4-5, 2020.