leadf
logo-loader
viewIofina PLC

Proactive news headlines: Iofina, Power Metal Resources, Personal Group, Symphony Environmental …

A glance at some of the day's highlights from the Proactive Investors newswire

Newspapers and coffee cup
Your daily round-up from the world of Proactive

Iofina PLC (LON:IOF) saw its shares rise strongly on Tuesday after it said it has signed binding documentation to refinance its entire debt by entering into a new loan agreement with First Financial Bank, (NASDAQ:FFBC), a Cincinnati-headquartered, US regional bank. The specialists in the exploration and production of iodine and manufacturers of specialty chemical products said the facility provides the group with debt capital of up to US$18mln, with the proceeds to be used to pay off existing debt and to provide working capital for the group. It said a total amount of $13mln was available and drawn on closing of this arrangement.

Power Metal Resources PLC (LON:POW) has released assays results from due diligence sampling at the Silver Peak project in British Columbia, Canada. The project includes the Eureka-Victoria silver mine, the first Crown-granted mineral property in British Columbia. Ten channel sample and one grab sample assay results were received from ALS Canada laboratories and two showed bonanza silver grades. Significant copper and lead grades were also returned. Among the highlights were 0.50 metres grading 10,718 grams per tonne silver, 2.14 % copper and 2.99 lead, and 0.50 metres grading 14,937 grams silver, 3.05% copper and 11.95% lead.

Rock Resources Australasia Ltd, a joint venture between Red Rock Resources PLC (LON:RRR) and Power Metal Resources (LON:POW), has released the results of an NI 43-101 technical report on the BMV gold project. BMV comprises eight exploration licences out of the twelve for which the joint venture has applied, all of which are subject to pending licence applications. The report highlights several areas where the exploration potential is “excellent.”

Personal Group Holdings PLC (LON:PGH) achieved revenue and profit growth in the first half of 2020 despite the impact of the coronavirus (COVID-19) pandemic. Group revenue in the six months to the end of June 2020 rose by 1.3% to £30.4mln, up from £30.0mln in the first half of 2019. Adjusted underlying earnings (EBITDA) climbed 9.9% to £5.0mln from £4.5mln the previous year while profit before tax increased 2.3% to £4.2mln from £4.1mlm. The employee services provider said its balance sheet remains strong with cash and deposits of £19.0mln and no debt.

Symphony Environmental Technologies PLC (LON:SYM) said that Brazilian supermarket chain Cotripal has launched a new range of shopping bags using its technology. The carrier bags contain both Symphony’s d2w (biodegradable) and d2p (antimicrobial) additives and will be made by Plastifilme, which has been working with d2w since 2004. Testing of d2p samples by UNICAMP University in Brazil according to ISO 21702 found a virus reduction of 99.9% in only one hour, said Symphony, which is vital during the coronavirus pandemic. Alien Metals Ltd (LON:UFO) has begun follow-up detailed geological mapping and sampling at the Hamersley iron ore projects in Australia. The programme is designed to validate recently announced exploration targets across both projects and will consist of four-to-five kilometres of grid-based sampling across priority prospects, and detailed mapping over exposed iron ore formations.

Ergomed PLC (LON:ERGO) saw its adjusted underlying earnings (EBITDA) surge by 40% year-on-year in the first half of 2020 and the company said it expects to see the momentum continue in the second half of the year, driven by demand for its pharmacovigilance (PV) and contract research organisation (CRO) services. The group reported adjusted EBITDA of £9.1mln, up from £6.5mln in the same period of 2019, and profit before tax grew to £6.0mln from £4.1mln the previous year. Total first-half revenue rose by 14.8% to £40.4mln from £35.2mln in the corresponding period of 2019, with service fee revenue up 25.9% - or 18.0% on a like-for-like basis, excluding Prime Vigilance USA, which was acquired in January 2020 - to £36.9mln.

Mosman Oil and Gas Ltd (LON:MSMN) told investors it has now spudded the Falcon-1 well at the 50% owned Champion project in East Texas. The well is being drilled directionally to penetrate two prospective target zones in the Frio sandstone, a prolific production zone in the area. The targets, Hartburg and Nodosaria, are located between 7,400-7,500 feet. Mosman also noted that, at the 16.5% owned Stanley project, a service rig that arrived to site last week completed its planned workover of the Stanley-1 well and the well resumed oil production. The service rig will move on to the Stanley-4 well to bring it into production.

Open Orphan PLC (LON:ORPH) has announced that its Venn Life Sciences subsidiary has secured an important new contract to support a major European pharmaceutical company. The specialist CRO pharmaceutical services company, which is the world leader in the testing of vaccines and antivirals using human challenge clinical trials, said the Paris team of Venn will be assisting a prospective, multicentre, longitudinal, non-interventional oncology study which is expected to enrol over 750 subjects whereby Venn will handle all data management, statistics and medical writing for the study. The group said the contract reinforces Venn's position as one of the leading providers of data-management, statistics and medical writing services to many of Europe's leading pharmaceutical and biotech companies, a service the Company has a strong track record or providing. In a separate statement, Open Orphan also said it has received a notice of exercise of warrants by an investor who participated in the Venn loan note financing in December 2018 over 269,866 ordinary shares of  0.1 pence each in the capital of the company at a price of 0.1p per share for 95,539 ordinary shares and at a price of 2.2p per share for 174,327 ordinary shares. The gross proceeds of this exercise received by the company amounts to £3,930.74.

Bango PLC (LON:BGO) said it has partnered with EPIC ON, the premium OTT platform by IN10 Media Network, to expand access to EPIC ON's vast array of subscription-based entertainment content into new regions. The AIM-listed data-driven commerce platform noted that EPIC ON is a multiform content platform enabling users to Watch, Play, Listen, Read and engage with innovative ways on a single app. Users can access its content on a monthly paid subscription basis.  Under the agreement, EPIC ON will work with Bango to expand its global presence, growing its paying user base and opening up access to its wealth of content and services by offering customers alternative payment methods.

Learning Technologies Group PLC (LON:LTG) revealed it is to acquire eCreators, Australia's largest provider of Moodle, the leading open-source learning management system (LMS), as the UK firm also reported its first-half results. The company said it will initially pay A$5.5mln (roughly £3.1mln) in cash for eCreators and will integrate the Aussie firm into its existing Moodle business. The acquisition will be funded from existing cash and is expected to immediately improve Learning Technologies’ earnings. Separately, Learning Technologies’ half-year report showed an increase in underlying adjusted earnings before interest and tax (EBIT) to £20.1mln (excluding non-cash items) from £19.4mln the year before.

Parity Group PLC (LON:PTY) has said activity is picking up again after coronavirus (COVID-19) pandemic disruption affected the first half of the year. Revenue in the six months to end June 2020, fell by a third to £29.9mln while underlying profits were £61,000 against £203,000. Since June, things have improved, Parity said, helped by new contracts including two slots in the Scottish government’s online purchasing system and a consultancy slot on a cyber services training contract in Northern Ireland in partnership with CyberGym.

Coinsilium Group Limited (AQSE:COIN) has updated shareholders on efforts to revive the token economics of the Indorse (IND) digital currency asset, through the use of a new decentralised finance (DeFi) based model, with the company now looking forward to key catalysts next month. The Aquis-exchange listed investor holds a 10% interest in Indorse and owns 5.79mln IND tokens, representing around 15.37% of its circulation. Eddy Travia, Coinsilium chief executive, said the firm is working closely with the Indorse team in the development of a comprehensive strategy to update the token model to what is being referred to as ‘IND 2.0’. A new ‘Light Paper’ is due to be published in mid-October, to layout in more detail the proposed developments and updates which will feature in Indorse 2.0.

ADES International Holding PLC (LON:ADES) has confirmed revenue growth of 13.4% to US$249.3mln for the first six months of 2020. The group said this demonstrated its resilience to the exceptional challenges posed by the coronavirus (COVID-19) pandemic and oil price volatility. Half-year underlying earnings (EBITDA) improved by 3.6% to US$93.3mln, though a normalised version of the figure – to exclude one-offs charges – shows an 11% gain to US$99.9mln. The group's margin was trimmed to 37.4% from 40.9% in the same period a year earlier. The company reported a net profit of US$15.5mln, versus US$3.2mln.

Alliance Pharma PLC (LON:APH) has held its dividend and said it is seeing signs of better trading after disruption from the coronavirus (COVID-19) pandemic affected its first half. "We are now starting to see further signs of recovery and expect trading to continue to recover as we move through the remainder of the year,” said Peter Butterfield, chief executive of the healthcare products group in its interim results statement. Revenues in the six months to end June 2020, dropped 7% to £61.7mln with prescription medicines particularly affected as routine treatments were delayed by COVID-19. The company’s flagship consumer healthcare brands were helped by a strong performance from scar prevention treatment Kelo-cote, where revenues were up 8%.

Rosslyn Data Technologies PLC (LON:RDT) has confirmed revenue growth in the first half of 2020 and highlighted higher levels of client engagement since the onset of the coronavirus (COVID-19) pandemic. The company said that although sales opportunities were temporarily delayed during lockdown, in recent weeks it had begun to see increased activity from prospective clients. Revenue and the pipeline remain strong, it added. The group pointed to a focus among larger companies on supply chain resilience, supply chain risk, cost reduction – all of which can be enhanced by the use of ‘Big Data’.

OptiBiotix Health PLC (LON:OPTI) said it has entered into a non-exclusive license agreement for its SlimBiome Medical proprietary weight management product with HiLife Vitamins & Herbs Co Inc. in the US. The life sciences business, which is developing compounds to tackle obesity, high cholesterol, diabetes and skincare, noted that HiLife is a privately owned business which was founded in 1971 to supply its local community with healthy supplements. With the evolution of e-commerce, HiLife rapidly extended its customer base becoming one of the first online health supplement retailers in the USA, and nearly fifty years on, HiLife lists over 5000+ products online having built an established and loyal customer base across the USA, it added. Optibiotix said the signing of the agreement with HiLife is subject to the placing of a trial order and a six month period after which both parties will discuss the terms of the agreement to explore online exclusivity for the USA.

Incanthera PLC (AQSE:INC) said it is delighted with the results of a permeability study for a refined formulation of its Sol anti-cancer skin cream. Sol is a proprietary topical formulation designed to deliver into the skin an active known to prevent the conversion of solar (actinic) keratoses into skin cancer. Against four other comparator products, Sol penetrated further into the skin and delivered the active anti-cancer ingredient deeper thereby boosting the chances of preventing a cancer forming, Incanthera said.

Oriole Resources PLC (LON:ORR) has delivered a profit of £170,000 during the six months to end June 2020. The company was able to reduce administrative expenses to £420,000, particularly by reducing its outlay on consultancy fees in Turkey, where it has legacy operations. The company had £500,000 cash as at the end of August. During the period, the company secured the Senala licence in Senegal for up to a further 10 years and continued to enjoy the participation of IAMGOLD Corporation as its partner.

Blue Star Capital PLC (LON:BLU) has noted that its investee company SatoshiPay has launched its new business-to-business payments platform DTransfer to facilitate instant cross-border payments for businesses.  Built on SatoshiPay's blockchain technology and the Stellar network, DTransfer looks to establish a new standard for global payments, focussing on speed, cost and transparency. It integrates currency exchange into each transaction for customers to track payments in real-time, while will allow approved banks and businesses to join a compliance network to share KYC/KYB data, the company said. The AIM-listed investing company owns 27.7% of the SatoshiPay's share capital.

Shanta Gold Ltd (LON:SHG) is to expand processing capacity at the New Luika gold mine in Tanzania, with the integration of a new pilot plant started, and commissioning scheduled for January 2021. The group said milled throughput nameplate capacity will increase by 14%. The cost has been pegged at US$1.2mln, and will easily be funded by existing cashflow from production, it added. Following commissioning, the annual nameplate processing capacity at New Luika is expected to increase to a baseline of 708,000 tonnes per year, up from current nameplate capacity of 620,000 tonnes, with the projected annual processing rate increased to a baseline of 783,000 tonnes, up from 695,000 tonnes.

Litigation Capital Management Limited (LON:LIT), the disputes funding specialist, said its assets under management rose sharply over the past year while there was a significant increase in firms seeking a legal solution. Coronavirus is likely to accelerate this trend, it added, with the likelihood of a substantial rise in insolvency-related litigation in all the jurisdictions where it operates. In the year to end June 2020, Litigation Capital Management said it received 522 applications for funding, which was a 25% increase on the previous year, though only 3.5% of these received an investment. The Australia-based company funds both portfolios and single cases and said there had been eight resolutions in the two corporate portfolios over the past year.

Live Company Group PLC (LON:LVCG) told investors it has begun to build new properties for significant demand that is anticipated in 2021 and it continues to work with its key partners. In its half-year results statement, LIVE Company noted that revenues are starting to return during the third quarter and the fourth quarter is expected to be stronger. Agreements have been struck giving the company access to ‘World of Beatrix Potter - including Peter Rabbit’ and, separately, Paddington Bear. A new long-term contract was signed for the BRICKOSAURS event which is continuing at the Holon Toto Arena in Israel from October 1, 2020, through to May 3, 2021, before it is installed in a European zoo until November 2021 and goes on tour to Asia for 2022.

Ncondezi Energy Ltd (LON:NCCL) has noted General Electric Company's announcement that it intends to exit the new-build coal power market. Ncondezi said it is in communication with General Electric and confirmed that it has not received any formal notification regarding plans for the Ncondezi 300MW coal-fired power project in Tanzania, for which General Electric is the technology partner, following the US firm's announcement.   In August 2020, Ncondezi signed a term sheet with China Machinery Engineering Corporation, which confirmed CMEC's intention to be the lead investor subscribing for a 60% equity stake in the project.

Vast Resources PLC (LON:VAST) has revealed that Mark Mabhudhu, executive director of the company’s diamond division, has received an offer to join the government-owned Zimbabwe Consolidated Diamond Company as chief executive officer. However, Vast has confirmed that its highly skilled geological and technical team remain employed and that it has identified a high level chief operating officer to manage the project. This individual will be engaged upon confirmation of the signing of the joint venture.

Thor Mining PLC (LON:THR) (ASX:THR) has said it has received A$173,717.25 by way of a Research & Development Tax Incentive refund from the Australian Government, Department of Industry, Innovation and Science. The refund covers a portion of expenditure during the 2019/20 fiscal year on eligible research activities on Australian projects. Mick Billing, executive chairman of Thor Mining, commented: "We are very pleased to have our cash position boosted by this R & D refund. Thor Mining is entering a period of very active work at our Ragged Range gold project, and also with scheduled gold drilling at the Kapunda copper project, and uranium drilling in the USA. These funds, along with those from the recently announced placing of just over £1.0million will be utilised on those projects, with regular newsflow expected."

Afarak Group PLC (LON:AFRK) said it has come to the company's attention that Absa Bank, a South African bank, has brought a claim against the company in the district court of Helsinki. Absa is claiming 75,000,000 South African Rands (approximately 3,8 million euros) added with interest and costs from the company. The claim is based on a corporate guarantee given by the company on behalf on Afarak Mogale. Afarak Mogale entered into business rescue process during the summer 2020 and has not been allowed to pay its debts during these proceedings. Afarak said it will deliver its response to the district court of Helsinki in due course.  

ImmuPharma PLC (LON:IMM), the specialist drug discovery and development company has announced that Lind Global Macro Fund has requested repayment of part of its convertible security issued under a placing. The amount to be repaid in accordance with the terms of the convertible security deed is $1,068,762.50 leaving an amount outstanding under the Lind convertible security of $355,112.50. L1 Capital Global Master Opportunities Fund has not exercised its right to repayment. Following the repayment the company still expects to have sufficient cash resources to fund operations through the end of 2023.

Adamas Finance Asia Limited (LON:ADAM) announced that it has purchased a total of 300,000 of its own ordinary shares of no par value for an aggregate consideration of £78,390.00 (USS101,167.00) on September 16, 2020 under its share buyback authority. The company said its current intention to hold these shares in Treasury. As previously announced, Adamas has the authority to purchase up to a total of £543,340 (US$700,000) of its own stock. John Croft, Adamas Finance Asia chairman commented: "This transaction provided the Company (with) the opportunity to acquire shares at an attractive price in a carefully managed way. The Company is continuing to work hard and proactively to ensure that the wider market understands the significant opportunities offered by our strategy to deliver shareholder value."

Pembridge Resources PLC (LON:PERE) announced that at its extraordinary general meeting (EGM) held on September 21, 2020,  all resolutions proposed for the meeting were passed, including approval of the annual report, the director's remuneration report and the directors' remuneration policy, and the re-appointment of the group’s auditor and authority for the company to agree the auditor's remuneration. Gati Al-Jebouri, Pembridge’s chief executive officer and chairman commented: "We appreciate the support of our shareholders and are pleased that the resolutions at the EGM were passed almost unanimously."

Franchise Brands PLC (LON:FRAN), a multi-brand franchise business, announced that Julia Choudhury, its corporate development director, has purchased 15,306 ordinary shares of 0.5 pence each in the company at a price of 98p each. Following this purchase, Choudhury now has a total interest in 1,544,671 ordinary shares, equivalent to 1.6% of the company's total voting rights.

FastForward Innovations Ltd (LON:FWD), the AIM-quoted company focusing on making investments in fast-growing and industry-leading businesses, has announced the appointment of a new broker, Shard Capital Partners, with immediate effect. Optiva Securities will cease to act as the company's broker, it added.

Inspiration Healthcare Group PLC (LON:IHC), the global medical technology company has said it will announce its unaudited interim results for the six months ended July 31, 2020, on Tuesday, October 6, 2020. It noted that Neil Campbell, the group’s chief executive officer and Jon Ballard, chief financial officer will deliver an online results presentation open to all existing and potential investors on Tuesday, October 6, 2020, at 9.30am UK time.  The presentation will also allow for questions and answers and is expected to end at 11:00am. Details of the presentation and the access codes to attend will be forwarded to existing and potential investors who register their interest in advance with Alex Walters at Cadogan PR via email to [email protected]. Inspiration Healthcare also noted that it has been shortlisted for the Best Use of AIM Award and the AIM Transaction of the Year Award in the 25th AIM Awards sponsored by BDO in association with the London Stock Exchange.

Minds + Machines Group Limited (LON:MMX), the top-level domain registry company, has announced that its interim results for the six months ended June 30, 2020, will be published on Wednesday, September 30, 2020. It added that a investor live presentation will be held digitally at 3.00pm BST on October 6, 2020, on the Investor Meet Company platform. Investors can sign up to IMC and add to join the live presentation via: https://www.investormeetcompany.com/minds-machines-group-limited/register-investor

ADM Energy PLC (LON:ADME), a natural resources investing company, has said it expects to announce its interim results for the six months ended June 30, 2020, on Tuesday, September 29, 2020. The company said it will host an investor meeting, via conference call, on October 1, 2020, at 3.00pm BST. On the call, the company's CEO, Osamede Okhomina, and its chairman, Peter Francis, will discuss the interim results and provide an operational overview of the business as well as the drivers for the industry and ADM. This will be followed by a question and answer session. There will be no new material or trading information provided on the day. Interested parties can register to attend using the following link: https://docs.google.com/forms/d/1umfzyTUp8XP8icZvuoHwLSKvs4yPz9I6Nv29gAbb2r8

Proactive Research has issued a note on Tiziana Life Sciences PLC (LON:TILS)(NASDAQ:TLSA) which recently announced plans to begin a clinical study of its nasally administered Foralumab in coronavirus (COVID-19) patients in Brazil. Analyst Emma Ulker says the rationale, delivery approach and data are very promising and clearly require substantiation in COVID-19 patients.

Almost six out of 10 small and medium-sized business owners (57%) who expect to make a loss this year anticipate they will be back in profit within two years, a survey has found. More than a quarter of SMEs (27%) expect to make redundancies as part of the potential recovery actions over the next 12 months because of the COVID-19 crisis, one in four anticipate having a recruitment freeze, while 13% say they will ask staff to take a pay cut.   Some 13% of SMEs anticipate closing part of their business and 7% do not expect the business to survive and some 6% anticipate they will have to sell their businesses, according to research of 306 SME business owners and bosses commissioned by MBH Corporation Plc (FRA:M8H).

Quick facts: Iofina PLC

Price: 12.6375 GBX

LSE:IOF
Market: LSE
Market Cap: £24.25 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Iofina PLC named herein, including the promotion by the Company of Iofina PLC in any Content on the Site, the Company receives from said issuer...

FOR OUR FULL DISCLAIMER CLICK HERE

Iofina is 'on track and well funded' after reducing debt and staying...

Iofina PLC's (LON:IOF) Tom Becker talks to Proactive London about their production projections which remain 'on track'. Becker explains that the debt refinanced last month 'significantly reduced', meaning they are now a 'bankable business'. He explains that Iodine prices are still...

3 days, 2 hours ago

20 min read