Nanosynth Group rallies strongly after update on Pro Larva mask launch in India

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Shares in Nanosynth Group PLC, up 41% at 1.16p, were the best performers in London after the company updated on a distribution agreement in India.


Following the recent launch of the company’s Pro Larva anti-viral mask in India, Nanosynth is looking to make delivery of 250,000 masks in the next few weeks, with the remainder of the initial order to follow.


These masks will, in part, be distributed to interested parties in India, with whom its distribution partner, VKE has been in discussions, to help establish the level of demand and timeframes for future orders.


2.35pm: Aura aglow after upgrading resource estimates at the Tiris Uranium Project in Mauritania


Aura Energy Limited was up by a tenth in the afternoon after upgrading the resource estimates at the Tiris Uranium Project in Mauritania.


The miner reckons it holds 56mln pounds, which is 10% more than initially calculated.


“We are very excited by this Resource Upgrade at the Tiris Uranium Project, as it confirms our belief that the Resource will continue to increase in size as further exploration work is undertaken,” said chief executive and managing director Peter Reeve.


“The company continues to seek operating and capital expenditure cost reductions, whilst concurrently planning future exploration activities to further increase resource size and the potential of the opportunity. With Stage 2 exploration initiatives now underway, including an opportunity review to lower operating costs and capital expenditure, Aura is also exploring the potential positive impact on Tiris operating cost from vanadium by-product recovery.


1.50pm: Amigo edges higher after swinging to profit


Amigo Holdings PLC (LSE:AMGO) advanced 2% to 8.09p as it turned a profit in the latest quarter after it left the amount it had set aside for settling customer complaints little changed.


The controversial money lender said in its fiscal first-quarter (April-June) results that the provision for settling complaints had been left broadly unchanged from the end of the previous fiscal year at GBP338mln.


“The extremely challenging situation facing Amigo, resulting from the significant liability for compensation payments for historical lending, provides the context for our first quarter results,” said Mike Corcoran, the chief financial officer of Amigo.


“Within this context, the performance of the business in the first quarter has been better than anticipated. As Amigo is not currently lending, the business is cash generative and our cost reduction programme has been effective. The level of collections remains robust with the impact of Covid-19 less than originally projected.”


12.45pm: Bidstack higher after partnership with Suji Games


Bidstack Group PLC added 8% to 2.02p at lunchtime after signing a partnership with independent Turkish developer Suji Games for the free-to-play simulation title Hyper Airways.


Hyper Airways is an animated simulation game that has been downloaded more than 5 million times and is available on both iOS and Android. The game puts the player in control of an aeroplane and its passengers as they fly through obstacles and take care of those onboard throughout the flight.


According to Newzoo, it generated revenues of US$86.3bn in 2020, with hyper-casual games at the forefront of rapid growth. Figures from Sensor Tower showed that in 2020 hyper-casual games represented almost a third of all mobile game downloads.


11.35am: Travel sector reacts to UK’s latest green list update


Travel stocks weakened on Friday after the latest update of the UK’s lists for international travel.


Canada, Denmark, Finland, the Azores, Switzerland, Liechtenstein and Lithuania were added to the green list, while Montenegro and Thailand are now deemed high risk and were moved to the red list.


TUI AG (LSE:TUI) and Wizz Air Holdings (AIM:WIZZ) plc were down 2% to 313.8p and 4,885.5p respectively, while easyJet plc shed 1% to 803.3p before lunchtime.


10.25am: Air Partner (LSE:AIR) takes off after upbeat update


Air Partner (LSE:AIR) PLC rose 9% to 91.8p in mid-morning after noting it has continued to trade strongly in the face of some strong headwinds.


Travel restrictions and “general uncertainty” around the pandemic don’t appear to have impeded the firm’s progress as it said it would deliver a first-half profit of not less than GBP3.7mln.


“We continue to see a strong recovery in our private Jets division,” the aviation services group said.


“The UK has exceeded pre-Covid levels over the summer months as we have welcomed a number of first-time private jet flyers, in addition to seeing increased demand from many of our existing customers.”


9am: East Imperial early riser after new supply agreements Down Under


East Imperial PLC (LSE:EISB) was one of the few early risers on Friday morning, up 13% to 13.75p after unveiling a series of significant new supply agreements across Australia and New Zealand.


The self-professed “purveyor of ultra-premium beverages” will supply Countdown stores and New World supermarkets in New Zealand.


It has also secured an agreement with Metcash, one of Australia’s largest wholesalers, to stock its beverages to independent retailers across Australia. Metcash supplies and supports more than 10,000 independent retailers and over 90,000 wholesale customers across the food, grocery, liquor and hardware industries.


“This is a significant step forward for East Imperial as we look to accelerate our retail offering, a core element of our growth strategy,” said chief executive and founder Tony Burt.


“I’m delighted that since our listing in July we have added over 600 outlets across Australia and New Zealand. The team continues to work on similar placements throughout the wider Asia Pacific and US regions.”

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