Bowleven PLC (LON:BLVN) dived 13% to 4.01p after posting another full-year loss, albeit a much-reduced one.
The oil and gas exploration group focused on Africa posted a loss before tax from continuing operations of US$2.63mln in the year to the end of June, compared to a loss the year before of US66.56mln.
Last year’s loss figure was inflated by a US$62mln impairment charge.
1.45pm: AVEVA disappoints
AVEVA Group PLC (LON:AVV) shares, down 5.6% at 4,168p, were the second-worst performers on the Footsie after a disappointing set of interims.
The industrial software group saw a sharp drop in earnings in its first half due to the impact of the coronavirus pandemic on revenues.
For the six months to September 30, the FTSE 100 firm reported an adjusted pre-tax profit of £55.3mln, a 37.9% decline year-on-year, while revenues fell 15.1% to £332.6mln.
12.30pm: N Brown Group opts to go small with AIM listing
The clothing retailer, which specialises in having a broader range of sizes in its range, is looking to raise £100mln and hop down from London’s main market to AIM.
The retailer, which owns the Simply Be, Jacamo and JD Williams brands, reported £356.7mln of revenue for the 26 weeks to August 29, down 18% on the prior year.
11.15am: PCI-PAL sees strong rise in quarterly revenues
First-quarter revenues are 44% ahead of the comparative period last year, with revenue visibility against current market forecasts for the year ending 30 June 2021 now at 88%.
The total annual recurring revenue of all signed contracts at the end of October stood at £7.81mln, up from £6.75mln at the end of June.
10.00am: Feedback’s Bleepa to be featured at the World Innovation Summit for Health
Bleepa has been selected as a WISH 2020 Innovation Booster at the summit, which is taking place later this month in Doha, Qatar.
The WISH Innovation Booster provides a chance for entrepreneurs to exhibit their healthcare innovations in front of some of the world’s leading health experts, health ministers, decision-makers, and investors. WISH provides a platform to enable delegates to engage with these cutting-edge ideas that are changing healthcare from the ground up.
9.00am: D4t4 Solutions bags four contract wins
The data solutions providers said two of the contracts were for its Celebrus customer data management platform and the other two were for its Celebrus customer data platform.
“We are in a good position and remain confident about our prospects for the full year with clear visibility on both existing and new business, plus the high level of recurring revenue to be recognised during the second half,” said Peter Kear, the chief executive of D4t4 Solutions in a statement.
The software suite includes the IB Neuro and IB Delta T1 mapping algorithms, which IQ-AI said, “continue to gain acceptance in brain tumour imaging and assessment”.
Today’s rise follows yesterday’s near doubling of the shares price on an announcement that the company had received US Food & Drug Administration 510(k) market clearance for the Liver Surface Nodularity software developed by AI Metrics.
Proactive news headlines:
IQ-AI Limited (LON:IQAI) said the Montgomery Cancer Center in Alabama has bought its Imaging Biometrics subsidiary’s IB Clinic product. The software suite includes the IB Neuro and IB Delta T1 mapping algorithms, which IQ-AI said, “continue to gain acceptance in brain tumour imaging and assessment”. The latter offers an “objective and rapid visual assist” for neuroradiologists that helps identify subtle regions of contrast enhancement on routine MR images.
Feedback PLC (LON:FDBK) is fully funded to execute its growth strategy, the specialist medical imaging technology company said in its annual general meeting statement. The company had a positive cash balance of £4.4mln as at the end of September 2020, which it will use to scale up its core product, Bleepa, a medical imaging communications app. Much of the groundwork now complete, Feedback told investors, and the focus is to further grow Bleepa’s market base and create a strong platform for revenue growth. In a separate announcement, Feedback revealed that Bleepa has been selected as a WISH 2020 Innovation Booster at the World Innovation Summit for Health (WISH), which is taking place later this month in Doha, Qatar.
Argo Blockchain PLC (LON:ARB) has reported increased revenues and wider margins in October from its cryptocurrency mining operations. In a monthly update, the AIM-listed firm reported revenues of £1.2mln, up from £1.1mln in September, while its average monthly mining margin rose to 40% from 37%. The company also reported that it had mined 126 Bitcoin or Bitcoin equivalent (BTC) in October compared to 127 in the prior month, taking the total amount of BTC mined in the year-to-date to 2,254.
Panther Metals PLC (LON:PALM) said reconnaissance work conducted at its Dotted Lake property in Ontario, Canada, has confirmed high-grade gold at surface. Panther submitted a total of seven samples from the under-explored Dotted Lake property for analysis at ALS Laboratories, taken from an area of stripped ground bordering the most northerly point on the Dotted Lake shoreline. This area was cleared in 2010 when four trenches were excavated to investigate gold in soil anomalies identified within small soil sampling grids conducted in 2008 and 2009. The 2010 channel sampling in historical trench Tr-10-4 returned two mineralised intervals – 1.14 grams per tonne (g/t) Au (gold) over 1.00 metre (m) and 9.02 g/t Au & 859 ppm [parts per million Zn (zinc) over 0.40 m with a further 2010 prospecting sample returning Au 16.95 g/t Au & 7.7 g/t Ag from nearby.
Angling Direct PLC (LON:ANG) said its stores are now closed as per the UK government’s new coronavirus lockdown restrictions but will remain trading through a call-and-collect service. Angling Direct added that its web store remains fully operational for both the UK and European sales, and its distribution centre is geared to fulfil increased demand through this channel, with the upcoming Black Friday and Christmas period. The largest specialist fishing tackle and equipment retailer in the UK continues to reel in the customers with the momentum achieved in the first half of its financial year (i.e. six months to end-July) being sustained and sales remaining robust through October.
Frontier IP Group PLC (LON:FIPP) has reported a sharp rise in the value of its investment portfolio as well as a profit surge following what it said was “strong commercial and technical progress” in its full year. For the year ended June 30, 2020, the AIM-listed firm reported a 47% increase in the fair value of its portfolio to £19.4mln, while its net asset value per share increased to 51p from 41.4p. Meanwhile, the company’s pre-tax profit surged 78% to £4.18mln while revenues and other operating income jumped 49% to £6.4mln reflecting a net unrealised profit on investment revaluations of £5.97mln.
Open Orphan PLC (LON:ORPH) said its hVIVO arm has won a £2.5mln contract to carry out an influenza human challenge study for an unnamed US biotechnology company. The latest deal builds on significant new business wins in the areas of respiratory syncytial virus and coronavirus (COVID-19). The challenge study will take place at the company’s 24-bedroom quarantine clinic in east London in the second half of next year with completion due by the end of 2021.
Personal Group PLC (LON:PGH), a leading provider of employee services in the UK, has said it anticipates the payment of its fourth and final dividend in respect of its financial year ending December 31, 2020, following the publication of its audited full-year results in March 2021. The group said its board has taken a more prudent approach to the fourth dividend for 2020 which has historically been declared and paid during the fourth quarter. Given the recent UK government announcement of further national lockdown restrictions and ongoing uncertainty, it added, the final amount will now be determined and announced following the year-end.
Jubilee Metals Group PLC (LON:JLP) said it has executed several copper-cobalt tailings transactions that have nearly doubled its rights to copper tailings in Zambia. The AIM-listed firm said the transactions have secured the rights to an additional 115mln tonnes of copper and cobalt-containing surface tailings as part of its strategy to expand operations in the country, taking its total access to around 270mln tonnes of tailings. The deal, secured through Jubilee’s subsidiary Braemore Platinum Limited, provides the firm with the exclusive right to process the 115mln tonnes of tailings through the implementation of a copper and cobalt processing facility.
Anglo Pacific Group PLC (LON:APF) chief executive Julian Treger has described the company as encouraged by the operational performance across its mine royalty portfolio over the third quarter. Mines have continued to function without material disruption due to the coronavirus (COVID-19) pandemic, he noted in a trading update. “The actions taken by the underlying operators suggests that we could see a stronger finish to the year across the portfolio at a time when certain commodity prices are showing signs of improvement,” Treger said. The royalty company reported that a total of £6.4mln was generated from its portfolio in the quarter ended September 30, 2020, compared to £6.5mln in the second quarter.
FastForward Innovations Ltd (LON:FFWD) has highlighted an update from its investee company, EMMAC Life Sciences Group, in which the European cannabis firm noted growth in its key markets. In the update, EMMAC said the growth in its European markets coincided with rising demand for premium medical cannabis and wellness products. The company also said UK cannabis markets, in particular, were witnessing “significant momentum” with the firm “leading the way in enabling greater patient access in terms of product accessibility and cost for patients”. EMMAC also said that despite significant efforts by all parties involved, the negotiations regarding the proposed business combination between Andina Acquisition Corp and EMMAC have been mutually terminated as it was not possible to finalise negotiations to the satisfaction of both parties.
Deltic Energy PLC (LON:DELT) told investors that Royal Dutch Shell PLC, operator of Licence P2252 in the North Sea, has confirmed its commitment to the drilling of a well on the Pensacola prospect in 2021. Well planning including design work and rig scoping has already begun, the company added. It noted that Shell has been given a short extension for P2252, to the end of March, in light of the coronavirus (COVID-19) pandemic to allow the analysis of seismic data ahead of a formal drill decision.
Zoetic International PLC (LON:ZOE) has announced revised terms for the sale of its 75% interest in the DT Ultravert to Path Investments PLC. Under the new terms, the buyer will issue 30mln Path shares to Zoetic rather than 15mln shares as agreed originally in May. Path will no longer additionally issue 15mln share warrants to Zoetic, and, a previously envisaged orderly market agreement will no longer apply to the shares issued by Path. Zoetic is no longer selling the Kansas nitrogen assets to Path, and, Path will no longer pay royalties on future revenues back to Zoetic.
Conroy Gold and Natural Resources PLC (LON:CGNR), the gold exploration and development company focused on Ireland and Finland, announced on Thursday that it has received a notice to exercise warrants over a total of 208,333 ordinary shares of €0.001 each at an exercise price of 16p each, for which funds of around £33,333 have been received by the company. The warrants were issued as part of the fundraising announced on February 18, 2020, and the proceeds from the exercise of the warrants will be used by the company for general working capital purposes.
Seeing Machines Limited (LON:SEE), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, has announced that it will hold its annual general meeting at its head office in Canberra, Australia at 5.00pm Australian Eastern Daylight Time (AEDT) on Monday, November 30, 2020. The meeting will be held virtually from 80 Mildura Street, Fyshwick ACT 2609. Shareholders may choose to participate online. To view the live webcast online, shareholders will need to visit: https://seeingmachines.zoom.us/j/92458597003pwd=V0NjQzcxaVFYZFVDS2k4eklvdUZyQT09