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CleanTech Lithium lifted as it signs technology deal with US group KMX

Last updated: 15:38 26 Apr 2022 BST, First published: 09:16 26 Apr 2022 BST

lithium

CleanTech Lithium PLC (AIM:CTL) has signed an agreement with Texas based KMX Technologies for its Laguna Verde and Francisco Basin projects in Chile.

The memorandum of understanding with KMX, a market leader in vacuum membrane distillation, will establish a commercial framework for using KMX´s technology to concentrate lithium, while achieving higher water recovery and lower energy intensity.

CleanTech said the move was in line with its strategy to produce battery grade lithium by the second half of 2024, with near zero carbon emissions and the lowest environmental impact.

CleanTech chief executive Aldo Boitano said: "This memorandum is another important step in our mission to produce sustainable battery grade lithium for the electric vehicle industry with the lowest environmental impact and CO2 footprint.

"By utilising a best-in-class technology which concentrates lithium in a single stage process with higher water recovery and lower energy usage and compliments our commitment to use 100% renewable energy and Direct Lithium Extraction process, we believe, once in production, we will be one of the greenest lithium producers globally."

CleanTech's shares are 5.44% better at 28.89p.

2.57pm: Origo Partners (AIM:OPP) on the slide as shares to be delisted from Aim

Origo Partners (AIM:OPP) has slumped after the Isle of Man-based investment company said its shares would be suspended from Aim on 28 April and delisted a month later.

The move comes after its nominated advisor Arden Partners (AIM:ARDN) PLC was taken over by Ince Group PLC and said it would no longer act for Aim companies.

Origo has decided the financial implications of appointing a new advisor were not in its best interests, given it had fulfilled its objectives of monetizing all its saleable legacy investments and returning the proceeds to shareholders. 

Origo said it would announce details of a payout of all distributable cash ahead of the delisting. Eighty per cent of the proceeds will be paid to the holders of its redeemable preference shares and 20% to holders of its ordinary shares.

Once the shares are suspended from trading there will be no formal mechanism for trading shares although it is planning to set up a matched bargain facility.

Its shares are down 33.33% at 0.07p.

2.12pm: BlueJay benefits from Finland update

Shares in BlueJay Mining PLC (AIM:JAY, OTCQB:BLLYF) are flying after a positive update from Finland.

Its Enonkoski nickel-copper-cobalt joint venture with Rio Tinto in eastern Finland is set to begin further drilling after the necessary expenditure was approved.

Thomas Levin, chief operating officer of BlueJay subsidiary FinnAust Mining Finland, said: "I am delighted to report that our exploration activities at the Enonkoski joint venture project in eastern Finland will continue shortly. The exploration programme is currently being finalised, but we are aiming to commence diamond drilling in May targeting mineralisation at near-mine target areas with the focus on follow-up drilling of the drill campaigns in 2021...

"Detailed interpretation work completed on the assay results from 2021 and early 2022.. shows that our activities are focusing on high potential targets on this underexplored nickel-copper-cobalt belt."

Bluejay shares have climbed 9.09% to 8.39p.

12.47pm: Nightcap lifted by positive results from Adventure Bar deal

Investors in Nightcap PLC (AIM:NGHT) are toasting the success of its acquisition of Adventure Bar Group.

Under the terms of the original deal, the vendors could receive additional shares in Nightcap if Adventure met certain targets within two years of its acquisition last July.

Now the company has said Adventure - whose brands include Tonight Josephine, Bar Elba and Escapologist  - had hit the earnings milestones significantly earlier than originally expected, triggering the payouts.

Nightcap said it was confident Adventure would make a positive impact for the remainder of the current financial year and beyond. In March and April 2022, Adventure acquired three new sites for its bars in Cardiff, Liverpool and Bristol, with several further site acquisitions planned for later this year.

Nightcap shares are up 5% at 18.9p.

11.49am: Toople surges as it appoints new chief operating officer

Toople PLC (LSE:TOOP) has rung up an impressive rise after appointing a new chief operating officer.

Greg Bryce joins the firm, which provides telecom services to small businesses, after a career which ranges from start-ups to multinationals.

He began at WorldCom, set up BT reseller Telecom 10 as also worked fromm 118 118 Media and DMGT. Most recently he has been working as a mentor to start-ups in the healthcare, education, and telecoms sectors.

None-executive chairman Richard Horsman said: "Greg is... industry agnostic with expertise across private equity, fundraising, sales, finance, marketing, customer success, HR, IT and product development...

"Importantly he also has extensive M&A experience, having successfully overseen acquisitions worth in excess of £200 million.  These complementary skills, combined with his previous telco experience, will prove invaluable as we seek to capitalise on new opportunities that are presenting themselves in light of a continually more digitally connected UK."

Meanwhile chief financial officer Paul White has resigned with immediate effect to pursue other business interests.

Its shares have surged 53.33% to 0041p.

11.07am: Immotion upbeat on entertainment business but plans to spin off other divisions

Immotion Group PLC (AIM:IMMO), the UK-based immersive entertainment group, has seen a faster than expected post-COVID-19 recovery and is now planning to spin off divisions it set up to boost revenues during the pandemic.

The company said full year revenues rose 230% to £9.4mln and earnings recovered from a £1.7mln loss to a £0.9mln profit.

Its key location based entertainment business benefited as sites reopened and confidence returned, providing further opportunities to launch new sites at aquariums and now zoos.

The firm's first large-scale zoo installation contract for a large 24 seat theatre style installation has been agreed and is expected to be signed this week.

A further US zoo agreement is at the final contract stage, and there is a strong pipeline of discussions and opportunities.

Since the year end, first quarter revenue from the entertainment business has tripled to £1.8mln with April revenue expected to exceed £800,000 following a buoyant Easter.

So it has decided to focus future investment on its core business, rather than the Home Based Entertainment and VR division and Uvisan - a specialist in UVC sanitising cabinets - which were set up to help it survive the pandemic.

Chief executive Martin Higginson said: "Whilst we rightly took the decision in the middle of the COVID-19 pandemic to launch two new businesses, HBE and Uvisan, as a way of hedging our position, we have decided it is in the best interest of our shareholders that we allocate all our resources to the location based entertainment business.  We believe this will maximise returns, and therefore we will be looking to spin out HBE and Uvisan, seeking external investment for both."

Its shares are up 4.14% to 4.53p.

10.02am: Corero out of the red as cyber security booms

Corero Network Security PLC (AIM:CNS) is climbing higher after it moved out of the red.

The cyber defence specialist said full year revenues rose 24% to US$20.9mln and it turned a US$4mln loss into a US$1.4mln pretax profit.

It saw a record level of activitiy thanks to increasing demand for Distributed Denial of Service solutions which it said "continues to be fueled by the acceleration of digitisation and the ongoing need for business continuity."

Chief executive Lionel Chmilewsky said: "We have secured 44 new customers in 2021 and have, in parallel, significantly strengthened the relationship and level of activity with our strategic alliances and channel partners...

"We have exited 2021 with a strong new international business pipeline, and we continue to significantly invest in our sales and marketing resources and capabilities to strengthen our market reach and penetration."

9.16am: Northcoders heads north after positive update

From the NHS to Grimsby Town football club, software training specialist Northcoders Group PLC (AIM:CODE) is seeing increasing demand for its services.

The company said full year revenues rose 124% to £3mln, with gross profits up from £0.9mln to £2.2mln.

It runs consumer courses designed for individuals seeking a career as a software developer, as well as helping corporate clients with digital services.

It has 315 hiring partners, and during the period it added the likes of PrettyLittleThing, Informa and Wren Kitchens.

Corporate agreements signed during the year included Ove Arup and NHS Digital. It also extended a contract with the Department of Education in January.

It is expanding its training hubs from Manchester to Leeds, Birmingham and Newcastle. 

It also received a request from Jason Stockwood, the chairman of Grimsby Town, to establish a facility at the club's stadium, which is planned for the third quarter of 2022.

Chief executive Chris Hill said: "As the need for software and technology skills continues to increase, and digital transformation takes priority for organisations in almost every sector, Northcoders' market leading reputation is driving demand for our training. This, coupled with our extended government contract, gives us confidence in our ability to fulfil our significant growth ambitions."

With trading in the current year starting well, its shares are up 7.84% to 275p, compared to last July's flotation price of 180p.

Also heading higher isPCI-PAL PLC (AIM:PCIP).

The company, a cloud provider of secure payment solutions for business communications, has climbed 6.57% to 73p after saying a strong performance since the half year means its full year results are likely to be better than current market expectations.

A court has put a cost budget of £1.3mln on a patent infringement case brought by competitor Semafone, a claim which PCI-PAL refutes.

The company said: "This agreed budget puts a ceiling on the maximum amount of costs that could be awarded against the losing side, subject to the judge's discretion, should the case go to court.

"The next step is for Semafone to provide to the court by the end of April 2022 detailed disclosures as to their reasons why they believe PCI Pal infringes their patent. PCI Pal has to provide to the court detailed reasons as to why Semafone's patent is invalid by the same date."

 

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