Simec Atlantis Energy PLC (LON:SAE) has been chosen to supply tidal generation equipment and offshore construction services for a demonstration project in Japan. The Y1,800 (£13mln) project is in the straits of Naru Island and is being run by Kyuden Mirai Energy. Separately, Atlantis also announced it has completed the acquisition of the maintenance side of Scottish hydro business Green Highland Renewables for a nominal sum. And at Uskmouth, a waste-to-power project in Wales, Atlantis has also awarded the combustion system design and development contract to Japanese firm Mitsubishi Hitachi.
InnovaDerma PLC (LON:IDP) is set to launch a new category and brand in 800 Superdrug stores that could eventually generate sales of up to £80mln a year. The exact details are being kept under wraps until closer to launch date. However, the maker of the popular Skinny Tan range said it and the retailers efforts will be focused on the “topical side of the business”.
Oncimmune Holdings PLC (LON:ONC) said it had the potential to generate “material revenues in 2020 and beyond" after whats been a pivotal year for the diagnostics specialist. In its annual results statement the developer of the EarlyCDT product used to detect cancer said it had “minimum sales commitments” of £42mln.
Thor Mining PLC (LON:THR) (ASX:THR) said it has recently begun talks with potential investors about a second of its projects and it also expects an initial resource estimate from the Bonya prospect in Australia before the end of the year. In its latest quarterly review, Thor's executive chairman Mick Billing said management has started “cutting non-essential project and corporate expenditure in order to conserve cash resources” while it continued to carry out talks with investors about its core Molyhil project and now also with US investors about the Pilot Mountain project in Nevada.
KRM22 PLC (LON:KRM) has signed up three new customers for its risk management software, boosting its annual recurring revenues to £4.3mln. The first new customer is a quantitative investment firm which will use the companys market surveillance application, Irisium, to monitor market activity to increase transparency, integrity and confidence in their offering. KRM will also provide production services to assist the customer with daily alerts monitoring.
Block Energy PLC (LON:BLOE) has completed drilling its sidetrack well at West Rustavi in Georgia. WR-38Z went to a depth of 2,634m with a horizontal section of 646m into field's primary oil-bearing Middle Eocene formation.
Echo Energy PLC (LON:ECHO) and operator CGC have decided on the location for the first of a four-well exploration drilling programme at the Tapi Aike licence in Argentina. The well is in Chiripia Oeste, the eastern portion of the Tapi Aike 3D survey area, and will be re-named Campo La Mata x-1 (CLM x-1).
Genel Energy PLC (LON:GENL) has been notified that production on the Tawke licence will average around 120,000 barrels per day at the end of 2019 and to stay at that level into 2020. DNO is the operator of Tawke (in the Kurdistan Region of Iraq) while Genel has a 25% stake.
Crossword Cybersecurity PLCs (LON:CCS) Rizikon security product is to be offered to customers of its larger rival, NCC Group PLC (LON:NCC), following a collaboration between the two firms. The Rizikon portal will be offered to NCC customers as part of its third-party cybersecurity audit service, making it easier for them to assess the risk of their suppliers and identify any vulnerabilities in the supply chain.
INTOSOL Holdings PLC (LON:INTO) returned to profitability in the first half of the year after improving profit margins and cutting costs. The boutique travel group, which runs a portfolio of owned and managed hotels in South Africa, said margins were boosted by new revenue streams added in the six-month period to 31 July, including marketing of events and incentive travel.
Salt Lake Potash Limited (LON:SO4) (ASX:SO4) has outlined its next steps following the publication of a bankable feasibility study for its Lake Way project earlier this month. The BFS indicated a post-tax value of A$479mln (£254mln) based on 245,000 tonnes of sulphate of potash annually over a 20-year mine life, numbers the company described as 'outstanding'. Project financing of up to US$150mln has been agreed with Taurus Funds Management.
Kibo Energy PLC (LON:KIBO) said the first flexible power plant it developed has prequalified for the auctions to a win up to a 15-year capacity market contract under the UK government's reserve power scheme. Kibos 60% MAST Energy Developments subsidiary has been created, in partnership with Italian firm AB Group, to focus on building power plants for this market.
Braveheart Investment Group PLC (LON:BRH) said that valuations for its directly held investments are largely unchanged from those seen at the end of last year following a capital restructuring. In a statement with the firm's interim results, Braveheart's chief executive Trevor Brown said: "Progress continues across a broad front and we remain optimistic that this will eventually be reflected in enhanced returns to shareholders."
Red Rock Resources PLC (RRR) has announced that it will receive A$680,996 (approximately US$467,980 or £363,447) after Jupiter Mines Limited (ASX:JMS) declared an interim dividend equivalent to A$0.04 per Jupiter share. Red Rock holds 17,024,914 shares (0.87%) in Jupiter which owns 49.9% of the Tshipi Borwa manganese mine in South Africa The trading price for Jupiter shares in the market is A$0.325 per share, and the dividend represents a six-month yield of 12.3%. Andrew Bell, Red Rocks chairman, commented: "Jupiter continues to show strong cash generative abilities with what we believe to be a lower cost base than its peer group; with a hundred-year life of mine this makes it able to strengthen its position in poor markets as well as good.”
Pembridge Resources PLC (LON:PERE) announced late on Tuesday that it has entered a convertible loan agreement with its chief executive and chairman Gati Al-Jebouri. The miner said it will immediately receive £1mln to be used for “general working capital purposes”, with the option to receive an extra £700,000 over the lenders discretion, both at an annual interest rate of 8%.
European Metals Holdings Ltd (LON:EMH) (ASX:EMH) said it believed the Czech state-owned power utility is close to completing due diligence before making its agreed investment in the company. EMH, which first announced agreement in July that could see CEZ Group become its largest shareholder and co-development partner for the Cinovec lithium tin project, also said it had A$1.03mln cash in the bank at the end of September.
Alba Mineral Resources plc (LON:ALBA) said testing at its Amitsoq project in southern Greenland cRead More – Source
