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Small Cap Wrap - Kromek Group, Amur Minerals and more...

Banquet BuffetPhysiomics* 3.9p  £2.8m (AIM:PYC)Physiomics completes over-subscribed £0.83m (gross) fundraise to fund growth opportunities  at 3.5p. On 3 March 2020, the Company announced, as part of its unaudited interim results statement,

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Physiomics* 3.9p  £2.8m (AIM:PYC)

Physiomics completes over-subscribed £0.83m (gross) fundraise to fund growth opportunities  at 3.5p. On 3 March 2020, the Company announced, as part of its unaudited interim results statement, that it held cash and cash equivalents of £434k as at 31 December 2019 and that it had achieved a small positive cash inflow for the six months ended on the same date.  On 19 March 2020, the Company further confirmed that it had a strong pipeline of work and the Directors believe that this has been further strengthened since that announcement. 

In this regard, in the last two working days, the Company has received a strong indication that a significant contract is likely to be signed with a new large pharmaceutical client, with which it has been in discussions since late 2019.  Proceeds  to enable it to carry out activities including increasing its sales & marketing spend, recruiting a further member of its technical team and further investing in its personalised medicine technology as well as for general working capital purposes. 

Dr Jim Millen, CEO said: "We are delighted by the response to this over-subscribed fundraise.  We thank our current shareholders for their continued support and have achieved another milestone by welcoming our first small-cap institutional fund onto the register.  We believe this is reflective of our strong commercial traction over the last four years. 

 

Xeros Technology Group  1.53p  £30.4m (AIM:XSG)

The developer and provider of water saving and filtration technologies with multiple commercial and domestic applications, today advises  that its partner in France, Georges SAS, is now using its Xeros-enabled washing machines to clean fabric face masks worn by French key workers during the current Covid-19 pandemic. Georges SAS has put in place a programme with SNCF in Lyon to clean and sterilise up to 25,000 masks each week. SNCF workers each having their own masks which are individually tracked and traced through their lifecycle.

 

Kromek Group 22p  £75.8m (AIM:KMK)

Kromek has been awarded an extension to its contract by the Defense Advanced Research Projects Agency ("DARPA"), an agency of the US Department of Defense, to detect and identify pathogens in an urban environment. This follows successful completion of the base period of the contract which was awarded by DARPA in December 2018 to develop a vehicle-mounted biological-threat identifier. Under the terms of the new contract, Kromek has been awarded up to $5.2m to further work on its mobile wide-area bio-surveillance system capable of detecting airborne pathogens. The total contract period is up to June 2021. The completed system aims to extend the existing SIGMA network for biological threats as part of DARPA's SIGMA+ initiative. 

The miniaturised system will be capable of detecting viruses and bacteria and is intended to be located on vehicles to detect the presence of a pathogenic threat. The small, unmanned system that will run all day will also be capable of being used in high footfall areas, such as hospitals and airports.

 

AorTech  111p  £18m (AIM:AOR)

The United States Patent and Trademark Office has notified AorTech that its Application Number 15/995,050 will issue as Patent Number 10,676,560 entitled "BIOSTABLE POLYURETHANES" on 9th June 2020.

 

The invention relates to a biostable polyurethane or polyurea comprising: (a) a soft segment comprising a polysiloxane of the general formula disclosed in the Patent; and (b) greater than 0 and less than 40 wt % of a hard segment which is a reaction product of a diisocyanate and a linear difunctional chain extender, processes for their preparation and their use in the manufacture of biomaterials, implantable medical devices and polymeric heart valves. Bill Brown, Chairman of AorTech, said: "We are delighted that at the same time as major steps are being made in the development of our ElastEon™ enabled medical devices, our Intellectual Property portfolio relating to the ElastEon™ family of world class biostable polymers has been expanded further by the grant of this latest US patent. We currently anticipate reaching the significant milestone of commencing animal testing on the ElastEon™ sealed graft in the coming weeks."

   

Christie Group  79p  £21m (AIM:CTG)

Christie Group has accepted the offer of a CLBILS loan in the sum of £6 million. The loan terms require that it is drawn down in full. The loan will be additional to existing bank facilities and cash resources. The new loan is a precautionary and prudent measure ready to assist with working capital and operational changes in response to the disruption caused by the Covid19 pandemic as the Group's businesses re-establish more normalised trading.

Chris Day has agreed to delay his retirement from the Board of Christie Group plc and will now step down from the Board no later than 30th September 2020. In line with a number of other businesses, Christie Group plc has obtained permission to delay the publication and filing of its 2019 annual results until no later than 30th September 2020, if required. As previously reported, the Group expect the 2019 results to be in line with market expectations.

 

Amur Minerals 1.15p  £10.6m (LSE:AMC)

£0.5m placing at 1.05p. The proceeds of the Placing will be used to progress development of the Company's Kun-Manie nickel copper sulphide project and for general working capital purposes.

 

Cambridge Cognition 27.5p  £8.6m (AIM:COG)

The Company has recently won several new contracts to support pharmaceutical clients in delivering virtual clinical trials, including two contracts collectively worth over £1 million - the majority of which is expected to be recognised this financial year.

 

Traditionally, clinical trials build a comprehensive profile of the patient population from thorough, but infrequent, assessments in clinics. However, in efforts to curb COVID-19 transmission rates, the pharmaceutical industry has reduced site visits for their clinical trials and in some cases temporarily suspended patient recruitment. The broad expectation in the sector is that clinical trials are likely to resume in late Q2 or early Q3 2020. However, in search for an immediate solution and to reduce the chances of similar delays in the future, pharmaceutical companies are shifting from the traditional model of in-clinic assessments to, where possible, technology-driven solutions that support testing subjects remotely without the need for people to travel so frequently to clinical trial centres.   Having delivered almost 50,000 assessments online, Cambridge Cognition has been supporting virtual clinical trials since the launch of its cloud-based platform in 2017. 

 

Phoenix Copper 22.5p  £11.9m (LSE:PXC)

-      £1,760,000 raised at 18 pence per share

-      Placing & subscription oversubscribed

-      Use of proceeds:

o  Diamond drilling at the high-grade Red Star silver / lead deposit

o  Additional drilling and metallurgical engineering on the precious metals extensions at the Empire open-pit

o  Gold exploration at Navarre Creek

 

Plant Health Care 10.25p  £25.8m (AIM:PHC)

Update on its completed 2019 field trials of the PREtec peptide PHC279 for the control of plant diseases in corn, wheat and lettuce crops. Highlights:

 US Corn: -     PHC 279 increased corn yields by 9-15% when applied as a foliar spray, creating potential grower value of $54 - $82 per acre at current average prices.

-     PHC279 significantly improved the control of two key corn diseases by as much as 50%, even under heavy disease pressure.

Spring wheat:- -     PHC279 increased yield by as much as 17% when added to the standard disease control program, which is worth $86 per acre at current prices.

Lettuce:-      PHC279 increased yield by as much as 22% compared to fungicides alone.

-     PHC279 also improved disease control as much as 31% following foliar application.

          

Hurricane Energy 6.8p  £135.4m (LSE:HUR)

The UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, provides an update in relation to planned activities on the Lincoln subarea of Licence P1368, part of the Greater Warwick Area ("GWA").

 

In light of the COVID-19 pandemic, Hurricane has requested extensions to certain licence commitments pertaining to Lincoln. The Oil and Gas Authority has responded positively to these requests, extending the deadline for commencement of the GWA joint venture's commitment well on Lincoln to 30 June 2022 and extending the deadline for plugging and abandoning well 205/26b-14 (Lincoln Crestal) to 30 June 2021.

 

 

 

 

 

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