Haydale Graphene Industries dips after securing loan with US Small Business Administration

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Haydale Graphene Industries PLC dipped 4% to 6.85p after agreeing a US$200,000 loan with an interest rate of 3.75% per annum from the US Small Business Administration.


Repayments, including interest and principal, will be paid in equal instalments and will start 18 months from now.


The working capital facility with United Commercial Bank has been closed, the graphene firm said.


12.20pm: Eurasia Mining climbs after progress update


Eurasia Mining PLC (AIM:EUA, FRA:EUH) climbed 32% to 24.4p at noon after highlighting progress across its operations, including significant developments made at its operating West Kytlim mine in Russia.


Its share price jumped more than 20% yesterday, closing at 18.5p, although the miner noted they remain below the 26.5p price at which a US$20mln private placement with US professional institutional investors was completed in May 2021.


Eurasia said single asset risk has been eliminated at West Kytlim, the world’s largest alluvial platinum group metals (PGM) mine, with three washing plants now in production and several open pit areas being stripped as opposed to one area and one plant in previous years. Electricity grid connection and electric dragline are on track to be commissioned as previously announced.


Also, Rosgeo has confirmed to Eurasia that the process on the license for Nyud and Moroshkovoe open pit deposits is in an advanced state.


10.50am: Arcontech drops on profit warning


Arcontech Group PLC (AIM:ARC) dropped 15% to 141.5p after warning that this year’s profit is expected to be flat or lower due to the impact of Covid on net new sales in the financial period just finished.


The real-time financial market data group said any pickup in revenue will not be fully reflected in its results until 2022/23, though the future for its market remains uncertain and it may be some time until it returns to previous levels of activity.


In the year to 30 June, turnover was up 1% to GBP2.9mln and profit before tax was flat at GBP1mln.


Meanwhile, WH Smith PLC (LSE:SMWH) shed 5% to 1,542.5p as it tempered some good short-term news for shareholders with a more downbeat 2022 outlook.


The outcome for the year to the end of August is forecast to be slightly ahead of previous guidance issued on 8 July, however, profitability for the year ending August 2022 is expected to be at the lower end of market expectations.


The retailer said trading continues to be affected by the pandemic but the trends continue to improve.


9.40am: Scotgold Resources lifted by record monthly figures


Scotgold Resources Limited (AIM:SGZ) (AIM:SGZ) jumped 9% to 72.75p in the early morning after monthly production revenues exceeded operating costs for the first time in the company’s history.


In an operational update for August, the gold exploration and production company said it completed two gold concentrate shipments with revenues exceeding operating costs.


Mining activity at the Cononish mine in Scotland continued uninterrupted during the month and focused on the high-grade area of the vein and the necessary development to access future reserves.


Elsewhere, Tissue Regenix Group PLC (AIM:TRX, OTC:TSSNF) added 6% to 0.73p after launching new products DermaPure Meshed and VNEWTM.


The regenerative medicines specialist said both are line extensions that will be sold by its BioSurgery Division and use the firm’s patented decellularisation or dCELL technology.


Unlike alternative processes, dCELL removes 99% of DNA and other cellular debris with virtually no structural disruption. In doing this it allows the “optimal repair, replacement, and/or reconstruction of the damaged extracellular matrix”.

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