Maritime is paying US$2mln in cash and C$0.5mln in shares of Maritime for Rambler’s existing gold circuit at the Nugget Pond metallurgical facility and a number of Canadian exploration properties and royalties.
Rambler chief executive Toby Bradbury said: “We are pleased to announce the completion of the transaction with Maritime to sell the idle gold processing circuit at Nugget Pond and the non-core gold assets acquired as part of the 2016 acquisition of Thundermin Resources.
“Rambler’s focus remains the turnaround of the Ming Mine operations as a platform for expansion and the future growth of its highly prospective mineral properties including Little Deer deposit in the Baie Verte region of Newfoundland.”
Its shares have added 5.56% to 0.39p.
2.36pm: Enviromental group jumps after update
Green engineering group Bion PLC (LON:BION) has been boosted after winning a number of contracts and restarting a biogas power plant.
The company said it expected full year revenues to jump by more than 310% thanks to the engineering, procurement, construction and commissioning contracts and power sales from the Malpom biogas plant in Malaysia.
Bion said it was pursuing further contracts in Malaysia and Indonesia as well as continuing upgrading works at its Kahang and Malpom plants that would allow full operations to resume. It is also seeking to convert and expand its pipeline of renewable energy and waste-to-value projects.
Following the update Bion has surged 53.8% to 3.84p.
12.15pm: Power group powers ahead
XP Power Ltd (LON:XPP) has seen its shares spark up after a positive trading update.
The company, which makes critical power control components for the electronics industry, said first quarter orders were up by 7% and revenues by 23% on a constant currency basis. The increases were helped by strong performances in the semiconductor and industrial technology sectors. But healthcare orders fell compared to a year ago, due to the exceptional COVID-19 related orders received in the first quarter of 2020 not repeating.
It said: “Overall, we remain positive about the group’s prospects but are mindful of the potential impact from foreign exchange movements and the ongoing COVID-19 related uncertainty.
“Longer term, the board believes XP Power to be very well positioned to grow ahead of its end markets, supported by its strong cash generation and a robust balance sheet.”
Its shares are300p or 6.26% better at 5090p.
11.03am: Ultrasound group gets CE mark for scanning system
Intelligent Ultrasound Group PLC (LON:IUG) has been boosted by news of a key approval for a second product.
The company, a specialist in ultrasound artificial intelligence software, said it had received CE approval – required for many products for the UK and EU markets – for its ScanNav Anatomy PNB system.
The system uses the latest AI technology to automatically highlight and enhance a live ultrasound image. The company expects to launch the product in the UK in the second quarter of this year, and is also seeking FDA approval to allow it to be sold in the US.
Chief executive Stuart Gall said: “We’re delighted to have received CE mark approval for our second AI product. Building on the success of ScanNav Assist, our first obstetric AI software that is integrated into GE Healthcare’s recently launched SWIFT ultrasound machine, ScanNav Anatomy PNB will launch into the anaesthesiology ultrasound market and continues the group’s expansion into AI-based real-time clinical ultrasound image analysis. We are particularly pleased that many of the independent clinicians who used ScanNav PNB during product testing think that it would benefit them in their everyday clinical practice.”
The news has lifted it shares 2.3p or 12.96% to 20.05p.
9.59am: Fashion group hopes to cash in from reopening
The business said revenues dropped by 66% to £39.7m, with demand for its outfits for a night on the town curtailed by the lack of social events to go to.
As well as its own store which were closed during lockdown, it also has 72 concessions in Debenhams which will never reopen following the demise of the department store group. But it said revenues from that source had already been declining, so the closure should not have a major impact on profitablity or cash flow.
It said it was looking for new opportunities to grow through its own website and store network, as well as looking for new partners.
Chief executive Tarak Ramzan said: “With prolonged periods of store closures, the past 12 months has been a very challenging period for many in the UK retail sector, and Quiz has not been immune to this. However, against this difficult trading backdrop, the group has taken proactive actions to preserve cash and realign our store estate for the future retail landscape. In addition, we remain confident that there is robust underlying demand from our customers for the Quiz brand and our trademark dressy and occasionwear. We are looking forward to being able to serve customers again through our store estate and to the gradual opening up of the retail and leisure economies over the coming months, which we believe we are well placed to benefit from.”
This positivity has spread to the share price, which is up 8.33% or 1p to 13p.
9.03am: Mining group loses ground
Sadly for investors the company, which is a gold and zinc explorer in Ireland, has had to throw cold water on that idea.
It said: “The company notes the significant rise in its share price yesterday and references made on an investor forum to an article dated 22 March 2021 from bne IntelliNews regarding a potential reverse takeover of Arkle by a Mongolian mining organisation.
“The company confirms that the 162 group of companies (including Arkle) were approached about assisting with the financing of this mining project by an intermediary but have since declined to progress matters and there are no discussions regarding a reverse takeover taking place.”
Its shares – which hit a peak of 1.15p on Monday – are down 14.91% or 0.16p at 0.94p.
8.23am: Model maker ahead of expectations
The company, which is starring in its own TV documentary to be aired later this year, said fourth quarter sales were ahead of budget and the same period last year. So full year sales were better than anticipated and 28% higher than the previous year.
In January it warned of a slow start to the year due to Brexit hold-ups on products sent to Europe and the effects of the pandemic. But now it says: “Whilst the COVID-19 pandemic continues to present uncertainty, both Hornby and our suppliers have been able to operate more effectively through the current restrictions than was the case in the first lockdown, as evidenced by the resilient levels of activity seen in the fourth quarter.”
The news has sent its shares up 11.11% or 5.5p to 55p.
It has jumped 12.16% or 3.75p to 34.6p after forecasting its full year earnings – due to be reported in July – will be well ahead of expectations and the £4m reported in the previous year. It expects to have £14.8m of net cash, up from £8.9m.
It said: “The resilient and improved trading performance across the group is due to multiple factors but primarily as a result of the company being able to respond proactively and quickly to the numerous demands for its healthcare services during the global COVID-19 pandemic, through which the company has assisted the NHS in providing frontline care across the UK.”
Next Fifteen Communications PLC (LON:NFC) said it is currently trading ahead of management expectations after a strong start to the new financial year.
Open Orphan PLC (LON:ORPH) said it is at an “advanced stage of planning” to spin out certain non-core assets and is also making preparation for capital reduction that would pave the way for the demerger.
IronRidge Resources Ltd (LON:IRR) found its highest grade lithium so far from an ongoing drilling programme at new targets adjacent to the Ewoyaa lithium project in Ghana, West Africa. Multiple high-grade lithium intersections were found alongside the highest grade of 4% lithium oxide over 1 metre.
Mode Global Holdings PLC (LON:MODE) has reported “strong growth” in its Bitcoin trading volumes during the first quarter amid a sharp increase in new customers. The financial technology group said that Bitcoin trading volumes in the period had increased by 316% compared to the fourth quarter of 2020, while the number of new customers jumped 200% over the same period as the price of Bitcoin reached record highs.
Jersey Oil & Gas (LON:JOG) has appointed industry veteran Les Thomas as an independent director.
Vast Resources PLC (LON:VAST) has appointed Edward Hollings as processing manager at its Baita Plai polymetallic mine in Romania. Hollings has worked in base and precious metal projects for 15 years, specialising in metallurgy and processing. In his role as processing manager at the Baita Plai flotation plant, he will become a key part of the new full-time expert management team on site at Baita Plai as the new upgraded mine plan is implemented and successfully delivered over the course of 2021.
Corero Network Security PLC (LON:CNS) saw order intake hit record levels in the second half of 2020. Revenues rose 74% to US$16.9mln in 2020 from US$9.7mln in 2019, with revenues in the second half of the year up 93% at US$10.7mln from US$5.5mln in the same period of 2019.
Tharisa PLC (LON:THS) produced 35,000 ounces of platinum group elements during the second quarter to 31 March 2021, an increase of 11.5% year-on-year. Chrome concentrate production was up 15.5% to 358,400 tonnes year-on-year, and specialty chrome production was up 11.8% to 85,600 tonnes.
VietNam Holding Limited (LON:VNH) saw its net asset value (NAV) rise 1.1% in March, extending the gain in the first-quarter of 2021 to 10.4%. Since the start of the financial year in July 2020, the NAV per share has risen 53.1%.
SourceBio International PLC (LON:SBI) shares advanced after it reported strong revenue and profit growth in 2020 driven by its (Coronavirus) COVID-19 antigen testing services and its Infectious Disease Testing business unit, set up last May.
Coro Energy PLC (LON:CORO) updated investors following its recent acquisition of Global Energy Partnership Limited and its portfolio of operated renewables projects. According to the statement, work is underway to progress its new flagship wind and solar projects in the Philippines which will each have some 100 megawatts of capacity.
Sigmaroc PLC (LON:SRC) said underlying revenue and profits surged in 2020