2.55pm: Lansdown Oil buoyed by Barryroe decision
Lansdowne Oil & Gas (AIM:LOGP) PLC put on 4.8% at 0.55p after an update by Providence Resources PLC (AIM:PVR, OTC:PVDRF) on the Barryroe field off the coast of Ireland.
“Today's announcement by Providence of the conclusion of its review, now confirms that an appraisal well is a vital next step in moving the Barryroe Field forward under a phased development programme,” Lansdown said.
Lansdown has a 20% interest in the Barryroe Field.
READ Providence Resources unveils Barryroe plan to appraise in 2023 and produce by 2026
1.58pm: Trident Royalties sees strong growth in the fourth quarter
Trident Royalties PLC (AIM:TRR) hardened 7.9% to 48p after publishing its fourth-quarter activities update.
The company said royalty payments totalled US$375,000, with the current quarter “poised for substantial increase”.
“The number of producing assets within the portfolio increased by 350% in the quarter – increasing not only the scale but, importantly, the diversification of our portfolio,” said Adam Davidson, the chief executive officer of Trident.
12.01pm: Angus Energy sees price correction
Angus Energy PLC (AIM:ANGS) plummeted 20% to 0.8p following a successful raising of £1.4mln via the placing of 175mln ordinary shares at 0.8p each.
The reduction in share price is simply due to the price of the placing being at a reduced price to yesterday’s closing price of 1p.
The net proceeds of the placing will be applied to provide an increased contingency at Saltfleetby, geothermal subsurface and site acquisition work and for general working capital purposes.
10.11am: Windward drops
Windward Ltd (AIM:WNWD), which floated on AIM in December, has seen its shares fall 11% to 10.1p, rowing almost back to the 155p price of its initial public offer, as the maritime data specialist semaphored a profit warning due to salary inflation pressures.
A day after Bank of England governor Andrew Bailey suggested workers do their bit for the economy and refrain from asking for pay rises, Windward said its investment in headcount and these salary pressures, which are consistent with what is being reported across the technology sector, would lead to an EBITDA loss for the past calendar year "slightly higher than expectations", and that the salary cost pressures are expected to continue in the current year.
On the upside, the company said annual contract value increased 38% to US$21.1mln in the year and total revenue 18% to roughly US$17.3mln, with customer numbers increasing to over 80 from 45 at the start of the year.
Furthermore, directors were said to expect an acceleration in new business and revenue growth in 2022.
8.53am: Streams flows higher
Mobile Streams PLC (AIM:MOS) shares buzzed higher in early trade on Friday, climbing almost 14% to 0.61p on the news that it intends to launch games, esports and "metaverse services" to Vodafone India customers by the end of March.
Furthermore, it said "advanced discussions" are underway with India's Jio mobile network too, about potential launches.
Mobile Streams said it has now "reinvigorated and re-launched" in all territories for the legacy business, completing the turnaround of the legacy business that the new management took over.
Alien Metals Ltd (AIM:UFO, OTC:ASLRF) also hummed higher, rising 11% to 0.89p after revealing more high grades of iron ore from sampling at its Hancock project in Pilbara, Western Australia.
Bulk samples from the Ridge C resource returned an average grade of 62.2% with low levels of impurities.
The sampling indicates that the high-grade material commences from less than 1m below surface, with boss Bill Brodie Good saying the results "demonstrate the quality of the project and continue to give us great confidence in the planning and development process we are progressing".