9.48am: Parsley Box drops 7.5%

It’s not a good day for food delivery companies to join the market.

Deliveroo has slumped around 20% on its market debut and Parsley Box Group PLC (LON.MEAL)  is also heading in the wrong direction.

The company, founded in 2017, specialises in delivering ready meals which do not need to be stored in a fridge or freezer to what it calls the “underserved Baby Boomer+ consumer”, i.e. people aged 60 and over.

As part of its entry to AIM it raised £5mln for the company and £12mln for shareholders who sold part of their stakes.

At the placing price of 200p, it was capitalised at around £83.8mln. But it is worth 7.5% less than that now, with the shares down 15p to 185p

 

8.27am: Mining group positive on rock samples

Rockfire Resources PLC (LON.ROCK) has attracted attention after an update from its Lighthouse site in North Queensland, Australia .

The company said it had received positive rock samples from the Bell Rock gold prospect at the 100% owned area, and also confirmed an early stage copper discovery.

Chief executive David Price said: “The receipt of multiple, highly encouraging rock sample results from Bell Rock…is an exciting advancement of the prospect.

“A new copper prospect within the Lighthouse tenement, called “Otway”, was identified from structural interpretation by Rockfire’s geologists.. During Rockfire’s first exploration visit to conduct mapping and sampling, one rock sample returned 0.25 % copper and a highly unexpected result of 0.28 % cobalt. Three other rock samples returned elevated copper above 300 ppm Cu. Further work is needed to understand the geology of this early-stage prospect.”

Rockfire’s shares have risen 6.45% or 0.05p to 0.83p.

Bigblu Broadband PLC (LON.BBB)  has bounced 5p or 4.65% to 112.5p after what it described as “a transformational year.”

It said: “We commenced the year with a reconstitution of our entire debt facilities at highly competitive rates with our lead banking partner Santander Bank UK plc. During the year, we successfully disposed of the UK and European Satellite operations to our industry leading partner Eutelsat for maximum aggregate consideration of up to £39.3m, a value that the Directors believe was extremely attractive. We ended the year with the announcement of three substantial contract wins in Quickline and a fourth just after the year end worth a combined total of around £30m under the BDUK Superfast Programme to improve connectivity in deep rural communities to around 30,000 premises using a combination of fixed wireless and fibre technologies.”

Full year like-for-like revenues rose 4.3% with earnings up 29.7% to £6.2m. 

 

 

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