Seeing Machines Limited (LON:SEE) advanced by a tenth to 3.28p after unveiling a new embedded product strategy for the automotive market.
The AIM-listed firm, which specialises in artificial intelligence (AI) powered operator monitoring systems, said the new three-pillar strategy is targeting the “rapidly expanding camera-based interior monitoring market”.
"It's an exciting time in the automotive industry and I'm delighted to be announcing our detailed technology strategy, which has been constructed to closely support OEMs as they design cars to meet mounting safety standards and deliver convenience features for their customers”, Seeing Machines chief executive Paul McGlone said in a statement.
2.10pm: Computacenter surges after upgrading full-year expectations
Computacenter PLC (LON:CCC) surged 14% to 2,300p in the early afternoon after upgrading its full-year expectations ahead of interim results due next week.
The computer services provider said the strong performance seen in the first half of its current year has continued for the first two months of the second half.
“It has become clear to the board that the likely out turn for the year as a whole will be materially above the board's previous expectations,” it added.
12.30pm: Nostra Terra Oil & Gas shoots up after Texas acquisition
Nostra Terra Oil & Gas Company PLC (LON:NTOG) shot up 38% to 0.31p at lunchtime after acquiring 100% working interest in the Caballos Creek Oil Field, which will increase the oilers total daily production by 25%.
The transaction was agreed with owner Oro Resources and Oro East Tx for US$425,000 and is anticipated to close within the next week.
The AIM-listed company arranged non-dilutive financing from an unconnected third-party for US$430,000, while it is also issuing 3mln ordinary shares to consultants and directors.
11.15am: Ferro-Alloy Resources climbs on new technology for vanadium flow batteries
Ferro-Alloy Resources Limited (LON:FAR) climbed 54% to 13.5p in late morning after revealing it has developed technology for the production of electrolyte for vanadium flow batteries (VFBs).
The vanadium mining and processing company applied for a patent for the production of vanadium electrolyte directly from ammonium metavanadate (AMV). Vanadium electrolyte is used in the operation of VFBs.
The ability to make electrolyte directly from AMV cuts out the cost of conversion of AMV to vanadium pentoxide from which electrolyte is usually made, giving the company not only the required know-how to enter this market, but also a cost advantage over traditional processes, it said.
10.20am: Catena Group slips on investees lower cash flow
Catena Group PLC (LON:CTNA) was a mid-morning faller, losing 12% to 54.25p after admitting a hard hit by the pandemic.
The venture capital company said its sports coaching vehicle Sport in Schools is to resume full operations when schools re-open in September but cash flow was severely impacted by closures since March.
In the year to December, revenue rose 4% to £1.6mln but loss before tax widened 5% to £188mln due to higher expenses.
Elsewhere, Arcontech Group PLC (LON:ARC) shed 8% to 178.06p after saying the outlook remains uncertain with its traditionally long and complex sales cycles potentially getting even longer.
However, the provider of products and services for real-time financial market data processing and trading announced a dividend of 2.5p per share for the year to June 30, up 25% on 2019.
Revenue in the period increased by 4% to £2.9mln while profit before tax rose by 12% to £1mln.
9.15am: Hammerson tops early risers after capital reorganisation
Hammerson PLC (LON:HMSO) was by far the biggest riser early on Wednesday morning, rocketing 343% to 199.4p albeit only on the back of a capital reorganisation.
The troubled commercial property owner announced the capital reorganisation on August 6, consisting of a 1 for 5 share consolidation followed by a 24 for 1 rights issue. The group said, as a result, 153mln ordinary shares of 5p each were admitted to trading today.
The board has said Tuesday that is looking to strengthen Hammerson's financial position, reducing absolute indebtedness and providing liquidity headroom and financial flexibility as it continues to refocus its portfolio towards flagship destinations in the UK and Ireland.
Meanwhile, Barratt Developments PLC (LON:BDEV) advanced 6% to 535.56p after announcing it has enjoyed a boom in sales in recent weeks, with housebuilders also helped by an upbeat housing survey from mortgage lender Nationwide.
A 62% increase in home completion volumes to 1,439 in the eight weeks to August 23 was attributed to a combination of pent-up demand, the Stamp Duty holiday “and an understanding that Help to Buy will only be available to first-time buyers and regional home price caps will exist from April 2021”. Total forward sales, including joint ventures, as at August 23, 2020, stood at 15,660 homes, valued at £3.7bn.
Proactive news headlines:
Zephyr Energy PLC (LON:ZPHR) told investors that a portion of its acreage in Utahs Paradox basin has been selected for assessment in a US Department of Energy backed study. The study, entitled “Improving Production in Utah's Emerging Northern Paradox Unconventional Oil Play", will be conducted by the University of Utah's Energy & Geoscience Institute (EGI) and the Utah Geological Survey (UGS). As part of the study, the EGI and UGS plan to drill a vertical stratigraphic test well to gather data to improve the understanding of the Paradox Basin play. This well will be drilled within Zephyr-leased acreage, subject to the negotiation of final funding terms and permitting. The well will be funded via DOE grant and is slated before the end of 2020.
Ferro-Alloy Resources Limited (LON:FAR) revealed that it has developed technology for the production of electrolyte for vanadium flow batteries (VFBs). The vanadium mining and processing company, with operations based in Southern Kazakhstan, said it has applied for a patent for the production of vanadium electrolyte directly from ammonium metavanadate (AMV). Vanadium electrolyte is used in the operation of VFBs. The ability to make electrolyte directly from AMV cuts out the cost of conversion of AMV to vanadium pentoxide from which electrolyte is usually made, giving the company not only the required know-how to enter this market, but also a cost advantage over traditional processes, it said.
Thor Mining PLC (LON:THR) said assays from the latest stream sediment sampling program at the Ragged Range project in its Pilbara Goldfields tenements in Western Australia have “exceeded management expectations”. The AIM-listed group said the results from 2020 detail sampling support extend from two 2019 test sites defining a zone of “highly anomalous gold”, with sampling results having also defined an overall broader target zone and demonstrated potential to host a “significant gold bearing system”. Thor also said samples defining the 13 kilometre gold target zone are from separate drainage catchments and supported the potential of gold mineralisation along the entire strike length.
Oncimmune Holdings PLC (LON:ONC) said it is “building momentum” with its ImmunoINSIGHTS offering after signing its fourth partnership agreement with a top-ten bio-pharma company in under four months. Oncimmunes expertise will be deployed to in a pilot programme to profile patients receiving a type of cancer drug called an immune checkpoint inhibitor. Specifically, the aim is to assess which patients are most likely to tolerate and respond positively to the treatment. The programme, which will see the deployment of the biomarker discovery engine, SeroTag, is expected to be concluded by in the second quarter of next year.
BlueRock Diamonds PLC (LON:BRD), the AIM-listed diamond producer, has announced the sale of 3,805 carats of the gemstones and is changing its policy on the announcement of individual diamond sales. The group, which owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa, said the stones were sold at an average price of US$330 per carat for an aggregate consideration of US$1,255,000. The group said, it is modifying its announcement policy such that for the foreseeable future BlueRock will announce all individual diamonds valued at above US$50,000 when formally valued.
Tissue Regenix Group PLC (LON:TRX) has reported significantly reduced losses in the first half of its current year as the company highlighted continued “strong” demand for its products despite market disruption caused by the coronavirus pandemic. For the six months ended June 30, 2020, the regenerative medicine group reported an underlying EBITDA loss of £2.1mln, narrowed from a £3.6mln loss in the prior year, while revenues were maintained at the same level as a year ago at £6.1mln. The company also highlighted a reduction in its overhead cost base to £5.5mln from £7.1mln in the first half, adding that it has also secured additional distribution agreements in the period for its Matrix OI, DentalFix and AmnioWorks products to diversify its sales portfolio.
Zoetic International PLC (LON:ZOE) has announced a deal to sell its legacy oil and gas assets located in Colorado. The deal is worth US$376,000 though minimal net proceeds will be retained once a US$276,574 debt is repaid to ANB Bank and historic amounts due to operator True Oil are paid. The company expects final proceeds will be less than US$20,000. Significantly, with the exit from oil and gas business, the Cannabis and CBD products company will eliminate the groups most substantial liabilities and operating cosRead More – Source
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