GCM Resources PLC took over the top slot on the FTSE riser board, jumping 31.4% higher to 5.125p after the owner of the Phulbari coal and power project in north-west Bangladesh said it has agreed a further extension of two years to its consultancy agreement with Bangladeshi-controlled company DG Infratech Pte Ltd.
Under the agreement, DG will provide the company with advisory, management, lobbying and consultancy services for which GCM will pay a monthly retainer of £15,000 and the issuance of 363,636 shares at 4.125 pence per share.
"I am delighted to continue to engage the services of DG Infratech and look forward to working with them to drive significant progress in pursuit of our goals," said GCM chief executive Michael Tang in a statement. "Our primary objective remains to deliver an impact project for the people of Bangladesh, providing low cost and sustainable electricity in the country.".
2.55pm: Artemis Resources falls as it sees no significant nickel or copper results from first drill hole at Osborne prospect
Shares in Artemis Resources Ltd shed 10.9% to 2.05p after the Perth-based miner said no significant nickel or copper results had been found in laboratory analyses of samples from the first drill hole at its Osborne nickel prospect in Australia.
In a separate statement regarding its Greater Carlow project, Artemis also revealed that holes ARC395 and ARC396 "did not return any significant mineralisation, in line with the offset of the lodes already discovered by holes ARC403 and ARC404".
However, the company - which has gold, copper and cobalt projects in Australia - did report "encouraging results from several new exploration targets which it said will be investigated further" from a new gravity survey at Carlow, and also identified a "significant new exploration target" to the east of Carlow via downhole electromagnetic surveys.
2.05pm: CyanConnode up as India subsidiary receives its largest-ever order
CyanConnode Holdings PLC was Monday's biggest gainer in afternoon trading, soaring 25% higher to 18.5p after the smart mesh network technology company announced that its India subsidiary has received its largest-ever order.
The AIM-traded firm said the order, placed by Genus Power Infrastructures, was for one million of its 'Omnimesh' modules, together with advanced metering infrastructure, standards-based hardware, Omnimesh head-end software, a perpetual licence, and a support and maintenance contract.
The company said the order related to a smart metering deployment in the northeastern state of Bihar, with the supply of Omnimesh modules expected to start in September, and installation completed within two years. The support and maintenance contract would run for eight years, and would start on completion of the installation phase.
"We are delighted to have received this order from our long-standing partner Genus, which cements our position as the largest provider of narrowband radio frequency smart mesh networks for smart metering in India. This single order will almost double the number of modules we have deployed in India to date," said CyanConnode executive chairman John Cronin in a statement.
11.30am: Open Orphan higher as hVIVO subsidiary inks £10.4mln contract
Open Orphan PLC shares added 6.7% to 12.00p after the specialist contract research organisation (CRO) said its hVIVO subsidiary has signed a £10.4mln contract with a top-five global pharmaceutical client to manufacture a new batch of H1N1 influenza challenge virus.
The AIM-listed company will develop a new influenza challenge strain then conduct a human challenge trial to test the client’s oral antiviral candidate. The announcement marks the third such human challenge contract entered into with the leading pharmaceuticals client.
Open Orhan chief executive officer Yamin 'Mo' Khan said: “We're delighted to be working again with this top-five global pharmaceutical company to test its antiviral, using a new influenza strain developed by our highly experienced team."
11.10am: Wizz Air weak as chief financial officer Jourik Hooghe decides to step down
Shares in Wizz Air Holdings PLC shed 6.7% to 2,173p after the European budget airline said its chief financial officer Jourik Hooghe has decided to step down.
The company said Hooghe will be succeeded by Ian Malin, who will join the airline on October 1, 2022. Malin has spent more than two decades across Big Four firm KPMG, Allco Finance Group, Seabury and Unical Aviation, the company noted.
In a statement, Wizz Air said Hooghe is leaving to seek “opportunities outside of the company”. However, it added, that he will be available during until the end of December 2022 during the transition period.
10.55am: Rosslyn Data up as it reveals first enterprise customer through Chain IQ
Shares in Rosslyn Data Technologies PLC (AIM:RDT) took on 9.5% at 2.30p after the AIM-listed firm announced its first enterprise customer through its partnership with Chain IQ Group, an indirect procurement service provider.
Rosslyn said it will provide its procurement analytics platform under a five-year contract to a tier one Japanese bank, which the board considers strategically important to the group. Chain IQ and Rosslyn have undertaken several proofs-of-concept with potential customers since forming their partnership last year, with this new deal representing the first transition to a full customer.
This initial contract is of small value, but the group said it expects to be awarded further contracts because of its relationship with Chain IQ.
10.45am: Base Resources reports record full-year profits, revenue
Base Resources Limited (AIM:BSE, ASX:BSE) saw its shares rise 10% to 19.80p in morning trade on Monday as the African mineral sands producer and developer posted record profits and revenue for the year to end-June 2022 boosted by higher prices for mineral sands.
Base reported underlying earnings (EBITDA) of US$158.7mln, up from US$96.6mln the previous year, as revenue grew 41% to a record US$279.1mln.
The Australian-based company said it plans to pay a final dividend of A$3.0 cents per share.
“We have completed another operationally strong year and, with the continued improvement in mineral sands prices throughout the period, we were able to achieve record financial outcomes,” commented Base managing director Tim Carstens. “This, and our disciplined management of costs, has enabled continuation of robust returns to shareholders.”