DCD Media Plc (LON:DCD) slipped 17% to 200p after admitting it will require third-party funding over the coming months though it is confident of delivering a positive financial outcome for the full year.
The independent TV distribution and production group said that even if people accessed more home entertainment and on-demand streaming during the coronavirus pandemic, the business environment has been and remains challenging.
However, revenues for the year to March 31, 2021, are expected to surpass the like-for-like performance of the prior year and to deliver a profit although “it is imperative that the DCD Rights team partners with additional funders to provide opportunities in this expanding market”.
11.20am: Galileo Resources higher after confirming COVID-19 has not affected assets
Galileo Resources PLC (LON:GLR) advanced 13% to 1.5p after announcing it is better placed after an “operationally difficult but extremely positive” year.
The exploration and development mining company confirmed none of its assets were adversely affected by the COVID-19 outbreak.
Executive chairman Colin Bird noted that the Glenover Project has attracted some interest for both its rare-earth and phosphate potential, and one company, in particular, has shown interest in the project but requires comprehensive test work to be completed to determine what development plan, if any, it wants to progress.
10.10am: Prospex Energy surges after receiving green light for El Romeral acquisition
Prospex Energy PLC (LON:PXEN) jumped 15% to 2.13p after regulatory approval was received for the acquisition of a 49.9% interest in El Romeral.
El Romeral is an integrated gas production and power station operation in southern Spain.
Additionally, the company announced the issue of £415,838 convertible loan note and associated warrants to new and certain existing investors.
9.15am: Coral Products the top riser after conditionally agreeing to sell some assets
Coral Products PLC (LON:CRU), up 18% at 7.25p, was the top riser in London on Christmas Eve after it announced a proposed disposal of assets.
The specialist in injection moulded plastic products has conditionally agreed to sell Coral Products (Mouldings) and Interpack for an estimated net cash consideration of £7.9mln to One51 ES Plastics (UK), a subsidiary of IPL Plastics Group of the US.
Completion of the sale is expected to occur in February 2021, with a back-stop date of April 30, 2021.
BATM Advanced Communications Limited (LON:BVC) surged 8.2% to 100p after positive news about its test kit for coronavirus (COVID-19).
The company said the kit is effective at diagnosing a new variant of the virus that is rapidly spreading in the UK and elsewhere.
The networking and medical laboratory solutions firm said that it continually tests its kits against any mutations of the virus that are perceived to be clinically material to ensure they are accurately able to detect all known variants of COVID-19.
Proactive news headlines:
Supply@ME Capital PLC (LON:SYME), the fintech platform which provides inventory monetisation services to manufacturing and trading companies, said it has expanded its shareholder base. Five professional investors have acquired a combined 12.2% stake. Their interest followed the completion of transactions aimed at simplifying the company’s ownership structure.
IXICO PLC (LON:IXI), the AI data analytics company focused on neuroscience, has landed a four-and-a-half-year contract worth £3.4mln. It is with an existing client working on a trial of a drug for the rare neurodegenerative condition Spinocerebellar Ataxia type 3 (SCA3), also known as Machado-Joseph disease. Currently, there is no treatment to slow down or reverse the progressive course of this terminal condition.
BATM Advanced Communications Limited (LON:BVC) has said its test kit for coronavirus (COVID-19) is effective at diagnosing a new variant of the virus that is rapidly spreading in the UK and elsewhere. The networking and medical laboratory solutions firm said that it continually tests its kits against any mutations of the virus that are perceived to be clinically material to ensure they are accurately able to detect all known variants of COVID-19. BATM added that the kits also have 4+1 gene discovery capability compared with a market standard of one to three gene discovery, which enables it to provide more accurate results and reduce the risk of false positives and false negatives.
Falcon Oil & Gas Ltd (LON:FOG) has said nitrogen lift operations should start in the next few days at its Kyalla 117 N2-1H ST2 well in the Betaloo basin of the Northern Territory in Australia. The owners of the Betaloo licence decided earlier this month to execute operations without delay to re-enter Kyalla 117 with coiled tubing and apply nitrogen lift to lower the pressure in the wellbore and to assist with achieving and sustaining gas breakthrough. If successful, the operation will allow extended production testing to confirm at the well.
Galileo Resources PLC (LON:GLR), the exploration and development mining company, has said it is better placed after an “operationally difficult but extremely positive” year. In the group’s results statement covering the year to the end of March 2020, Galileo executive chairman Colin Bird reassured shareholders that none of the company’s assets were adversely affected by the coronavirus (COVID-19) outbreak, which picked up pace after the end of the reporting period. “Whilst director and senior management visits were very restricted, the company managed to progress all of its obligations and maintain its rights during the period and up to the time of writing this report,” Bird said.
Cobra Resources PLC (LON:COBR), the gold exploration and mining company focused on the Wudinna Gold Project in South Australia, has announced significant gold intercepts at the Baggy Green deposit. The company noted that the Baggy Green JORC resource is currently estimated at 94,000 ounces and occurs as two deposits. It said 13 holes were drilled to the north and south of, and in between, the existing JORC resource zones, with a further six exploration holes targeting new mineralisation.
Emmerson PLC (LON:EML) said it has appointed its chief executive Graham Clarke to its board as a director of the company with effect from December 22, 2020. The potash development firm noted that Clarke is “a highly experienced fertiliser industry executive with 26 years’ experience in underground potash mining”, with experience in managing all technical disciplines, due diligence processes and stakeholder engagement.
Strategic Minerals PLC (LON:SML) (OTCMKTS:SMCDY), a producing mineral company announced that it has been informed that Peter Wale, an executive director of the company, on Wednesday sold 3,875,000 Strategic Minerals ordinary shares of 0.1 pence each and purchased 3,875,000 ordinary shares through his personal Individual Savings Account (ISA). Following the dealings, the group noted that Wale’s beneficial interest in the company is 76,767,266 ordinary shares representing 4.02% of the issued ordinary share capital.
Mineral & Financial Investments Limited (LON:MAFL)), the AIM-quoted resources investment company, has confirmed it will hold its annual general meeting (AGM) at 11.00am on January 21, 2021, at Censeo House, 6 St Peter’s Street, St Albans, Herts. AL1 3LF. Given the current situation concerning coronavirus (COVID-19), this year’s AGM format will be a closed meeting and purely procedural in format. Also, all resolutions will be taken on a poll (with votes cast by proxy)., and there will be no presentations or Q&A and no refreshments will be provided. Shareholders should therefore not attend the AGM in person this year and are encouraged to appoint the chairman of the meeting as their proxy rather than a named person who will not be permitted to attend the meeting.