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Dish of the day No Joiners  Today Off the menu No Leavers Today. Last week there were no Joiners but the following leavers from AIM.  Columbus Energy, Safe Harbour Holdings and Cello Health. What’s cooking in the IPO kitchen?

Vast Resources PLC - Breakfast News -

17 August 2020


*A corporate client of Hybridan LLP


Dish of the day

No Joiners  Today

Off the menu

No Leavers Today. Last week there were no Joiners but the following leavers from AIM.  Columbus Energy, Safe Harbour Holdings and Cello Health.

What’s cooking in the IPO kitchen?

Kibo Energy PLC, the multi-asset Africa focused energy company, is seeking admission for its 100% owned UK subsidiary Sloane Developments Ltd , which will be renamed Mast Energy Developments PLC ('MED'), to the Standard List of the London Stock Exchange plc . Targeted for Q4 2020. The MED business strategy is to acquire and develop a portfolio of flexible small-scale power generation assets, exploiting a growth niche market in the UK for Reserve Power generation to balance out the national grid at critical times. 

TruSpine is a medical device company in the spinal device market. The Company is developing disruptive technologies to for use in the spinal stabilisation market, commencing with the following three devices: Cervi-LOK - for the cervical and upper thoracic spine Faci-LOK - for the lumbar and lower thoracic spine, and GRASP Laminoplasty - a treatment for decompression of the spinal cord. AQSE admission due 20 Aug

Banquet Buffet

Vast Resources 0.225p  £27.5m (LON:VAST)

Following the previous announcements made on 12 & 15 May & 24 July 2020 regarding the Baita Plai Metallurgical Test Work, the Company can confirm that it has received the final draft report of the results from Grinding Solutions, based in the UK.

Highlights of the test work include:

Copper recoveries range between 88.2% - 93.8% into a copper concentrate

Gold recoveries into the copper concentrate range between 72.7% - 78.2%

Silver recoveries to the copper concentrate range between 69.3% - 83.0%

Zinc recovery of 51.1% into a zinc concentrate with gold and silver credits

Molybedenum recovery of 65.3% into a molybdenum concentrate with gold and silver credits

Gravity recoverable gold potential as visible gold was seen on the shaking tables when attempting the de-leading of copper concentrates


Highland Gold 293.7p  £1.1bn (LON:HGM)

Inaugural Sustainability Report for the year ended 31 December 2019, which signifies the Company's enhanced approach to sustainable development. 

2019 Key Sustainability Highlights include

• Awarded the grand prix for social responsibility at MINEX 2019, the largest metals and mining industry forum in Russia.

• Ranked #2 for lowest environmental impact among the 40 largest metals & mining companies in Russia by the World Wildlife Fund for Nature. • Lost Time in Injury Frequency Rate (LTIFR) at 2.6, down 35% from 2018. • No tailings-related incidents registered

· 93% of water withdrawn recycled or reused • 5,443 tonnes of waste plastic collected during a company-wide environmental initiative • US$2.2m invested in environmental protection initiatives, a 22% increase from 2018

Enhanced approach to sustainable development includes • Appointed a Deputy CEO for Sustainable Development • Carried out extensive external health and safety audit • Pioneered a culture improvement programme centred around core company values • Conducted the first company-wide employee engagement survey


KRM 22  34.5p  £9.2m (LON:KRM)

Major customer contract for a suite of the Company's risk management products.


The Company has completed the signing of the UK Brokerage firm referenced in the Company's trading update of 21 July 2020.  The four-year contract, worth £1.2m over the life of the contract, covers a wide range of the Group's products delivered via the Global Risk Platform including the Company's 'At Trade' and 'Post Trade' Market Risk modules, in addition to the Market Surveillance module. 


Totally 19.25p  £35.1m (LON:TLY)

The provider of a range of healthcare services across the UK and Ireland,  announced a number of contract extensions, including 12-month extensions for services provided at Urgent Treatment Centres in Greater London,   along with funding to pilot additional clinical services in the North East of England.

The extensions and pilot are worth a total of c.£7.5 million and have been awarded to Totally's wholly-owned subsidiaries Vocare Limited, and Greenbrook Healthcare Limited , which together form Totally's Urgent Care Division.


Falanx  1.95p  £7.8m (LON:FLX)

Falanx has been awarded an important contract for the provision of cyber security services to one of the major suppliers of services to the UK public sector.


Following the recent launch of Triarii, its new cyber security platform, the Company has secured this strategically significant order to supply Triarii to several UK public sector organisations through a new reseller partnership. 


Whilst the immediate recurring revenues are relatively modest at this stage, these are expected to grow over time. 


Infrastructure India 0.775p  £5.3m (LON:IIP)

The infrastructure fund investing directly into assets in India, provided an  update on trading and the impact of COVID-19 on IIP's portfolio companies.  On 8 June 2020, following more than two months of national lockdown, the Government of India commenced a phased reopening of economic activities and adopted a cluster containment strategy in order to prevent spread of the disease. 

IIP's largest asset, Distribution Logistics Infrastructure Limited has terminals located in each of the National Capital Region. Maharashtra and Tamil Nadu, which remain the most affected regions in India, and the restrictions in place have hindered construction progress and regulatory approvals.

IIP's hydro assets are performing as expected with some disruption to administrative functions and localised delays, but overall the impact of COVID-19 has been limited with all sites accessible and fully staffed. The impact at Indian Energy Limited  has been greater, with one wind farm project, Theni, which sells power under a Group Captive Scheme to manufacturing and retail customers, experiencing lower consumption of power particularly during lockdown. In response, IEL has begun diversifying its customer base. 

Despite the extraordinary upheaval encountered by all businesses in India during the pandemic, infrastructure assets are long term and the IIP Board believes that the prospects of the logistics markets in India remain strong.


Oriole Resources  0.375p  £3.4m (LON:ORR)

US$300,000 sale agreement with its joint venture partner Anadolu Export Maden Sanayi ve Ticaret Limited Şirketi ('Anadolu'), in relation to the Karaağac mining royalty in Turkey. Oriole has received an initial tranche of US$50,000 in cash from Anadolu, with the balance contingent upon the commencement of mine construction at the Karaağac project .


Minoan Group 1.25p  £6.2m (LON:MIN)

The resort development company announces its unaudited interim results for the six months ended 30 April 2020.


 · Like-for-like net loss reduced substantially for the six-month period

· Successful reorganisation of finances

· Partnership and other Project discussions to be accelerated

· Greek government has enacted, and continues to enact, specific legislation designed to improve the quality of its tourism offering and to encourage retirees to settle in Greece

· Post Covid 19 demands will  add to the attractiveness of the development


TP Group TPG 7p  £54.5m (LON:TPG)

TP Group has been awarded an extension worth c.£2.0 million to its existing 2-year c.£5.0 million customer support contract with the Ministry of Defence , first announced in February 2020.

This contract increases the Group's customer support to the Army HQ's multi-billion-pound Land Environment Tactical Communication and Information Services & Systems  Programme. The uplift will run alongside the existing contracted work, until early 2022.


Live Company Group 12p  £10.6m (LON:LVCG)

Restructuring of the Company's balance sheet via the securing of  a new CBILS lending facility with Close Leasing Limited Highlights


· New lender Close Leasing Limited introduced with lower annual cost of capital.

· Lending facility with Riverfort and YA II repaid and closed.

· Cancellation of ESA with Riverfort and YA II and purchase of shares into trust.


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0203 764 2344

[email protected]


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