The share price of Rockfire Resources PLC (LSE:ROCK) heated up nicely in the afternoon session to 0.51p (up 8.5%) as investors considered the maiden mineral resource estimate at its wholly-owned Molaoi zinc deposit in Greece.
The inaugural resource estimation for Molaoi has delivered an inferred mineral resource of 2.3mln tonnes at 11% zinc equivalent (ZNEq).
Molaoi currently contains 210,000 tonnes of zinc, 39,000 tonnes of lead, and 3.5 million ounces of silver.
2.35pm: Tavistock liked the parent company so much ...
Tavistock Investments hardened 6.9% to 5.85p after it bought LEBC Hummingbird Limited, which maps model allocations for investment funds and portfolios, for £3mln.
Hummingbird is used by investment managers to match their investment solutions with the differing risk profiles identified through the use of "attitude to risk" questionnaires.
Tavistock recently bought a 21% stake in Hummingbird's ultimate parent company, LEBC Holdings.
1.40pm: Judges makes wise decision
Judges Scientific PLC (AIM:JDG) was 10% higher at 7,550p after announcing an acquisition.
The scientific instruments specialist has acquired the entire issued share capital of Geotek Holding and Geotek Coring, a developer and manufacturer of instruments used to measure and log various characteristics of geological cores.
The board expects the acquisition to materially enhance earnings in the current financial year.
12.45pm: Futura Medical grants licence to Cooper Consumer Health
Futura Medical PLC (AIM:FUM, OTC:FAMDF) has granted an exclusive licence for its topical, gel-based erectile dysfunction (ED) treatment MED3000 throughout the European Economic Area, United Kingdom and Switzerland to France-based group Cooper Consumer Health.
Under the agreement, Futura will receive initial upfront payments as well as undisclosed cumulative sales milestone payments.
Shares in the company were 8.7% better at 29.85p.
11.50am: Pelatro flying high as recurring revenues rocket
Pelatro PLC (AIM:PTRO) shares jumped 15% to 21.5p after its full-year results revealed a sharp increase in adjusted underlying earnings (EBITDA).
OK, the precision marketing software specialist still made a loss before tax in 2021 of US$666,000 without those flattering adjustments but even this was a sharp improvement on a loss of U$2.1mln the year before.
Adjusted EBITDA shot up to US$2.8mln from US$0.4mln on the back of an increase in revenue to US$7.3mln from US$4.0mln in 2020. Recurring revenues advanced to US$4.8mln from US$2.9mln in 2020.
10.55am: Quantum Blockchain moves from simulation testing
Quantum Blockchain Technologies PLC (AIM:QBT) rose in value by around a quarter after it said it has started live experimental Bitcoin mining using a standard version of the SHA-256 algorithm.
Quantum said this development has led to the first two knowledge-based algorithms, which govern the SHA-256 (secure hash algorithm 256) computation, being deployed, with mine testing now taking place.
This is the final step of nearly a year’s work by one of the company’s two machine learning teams, Quantum said. A third machine learning team, which started work earlier this year on an alternative solution to the two machine learning methods has already delivered some innovative results.
10.00am: Kainos Group leads the FTSE 250 higher after sparkling results
Kainos (LSE:KNOS) Group PLC, the information technology services provider, led the FTSE 250 higher with a 17% rise to 1,211p after its full-year results.
The company boasted of its 12th consecutive year of growth across a wide range of key metrics.
“Looking forward, we remain confident in our business as the demand for our services has never been higher, our reputation for delivery continues to flourish, while the scale and capability of our organisation continues to grow at pace,” said Brendan Mooney, the chief executive officer of Kainos.
9.05am: JZ Capital Partners surges as it expects to pocket proceeds from sale
JZ Capital Partners Ltd – not a company that dominates the headlines (possibly even its own in-house publications) - was the top riser in London on Monday morning.
The shares surged 37% to 140p after the fund provided a further update in relation to its interest in the secondary fund, JZHL Secondary Fund LP; this is the fund to which the company earlier sold its interests in certain US microcap portfolio companies.
JZ said a portfolio company of the secondary fund has executed an agreement to sell certain of its interests, with the secondary fund consequently expecting to receive a distribution of about US$165-180mln, of which around US$89-94mln is expected to end up in JZ’s coffers.
Driver Group (AIM:DRV) PLC motored 22% higher to 33.5p after the disputes resolution specialist said 25 of its employees in the Middle East will move to a different company on 1 June.
Driver and this other company have agreed the defecting employees will retain certain live project assignments with the employees’ new employer subject to certain restrictive covenants in relation to continuing clients and employees of Driver Group (AIM:DRV).
No exceptional employment termination costs will be payable by the company in relation to the transfer.