ULS Technology higher after offloading conveyancing platforms

ULS Technology PLC (LON:ULS) shares leapt 22% higher to 74p in early trading on Monday after the company sold two subsidiaries for GBP27.3mln.

The provider of online platforms to support UK consumers who are moving home has offloaded Conveyancing Alliance (Holdings) and Conveyancing Alliance Limited to Project Ophelia Bidco Limited, a company that also controls O’Neill Patient Solicitors LLP, which is the largest conveyancer on the Conveyancing Alliance Limited panel.

The proceeds from the disposal will be used to repay all of the group’s existing debt facilities, leaving around GBP25mln of pro forma cash on ULS’s balance sheet.

Symphony Environmental PLC (LON:SYM) grabbed a 4.9% rise at 22.02p after a highly successful coronavirus (COVID-19) test of antiviral gloves and masks containing the company’s plastics technology.

The assessment was carried out at the Laboratory of Virology at the University of Campinas, Brazil, and researchers looked at how effectively the protective equipment was able to combat the coronavirus strain MHV. This is the same genus and family as SARS-CoV-1, SARS-CoV-2/COVID-19 and MERS.

The results were impressive. The glove, which contained Symphony’s d2pAM antimicrobial technology, showed a 99.99% virus-reduction after only one hour of contact. The d2pAM face mask showed a 99% virus-reduction after one hour of contact with the face mask, and 99.9% after two hours.

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Oracle Power PLC (LON:ORCP) has begun field exploration work at the Northern Zone gold project, in the Kalgoorlie region of Western Australia. The project, located some 25 kilometres from the major gold mining centre in Kalgoorlie – home to ‘Super Pit’, Australia’s second-largest gold mine – is seen to host potential gold mineralisation in ‘auriferous veins in granitic intrusions’, the company said. Oracle’s exploration campaign will see the company acquire high-resolution imagery and digital terrain model of entire the project area. It will also conduct a geochemical survey to refine the targeting model.

Symphony Environmental Technologies PLC (LON:SYM) shares shot up 16% in early trading after a highly successful coronavirus (COVID-19) test of antiviral gloves and masks containing the company’s d2pAM antimicrobial technology. The assessment was carried out at the Laboratory of Virology at the University of Campinas, Brazil, and researchers looked at how effectively the protective equipment was able to combat the coronavirus strain MHV. This is the same genus and family as SARS-CoV-1, SARS-CoV-2/COVID-19 and MERS. The results were impressive. The d2pAM glove showed a 99.99% virus-reduction after only one hour of contact. The d2pAM facemask showed a 99% virus-reduction after one hour of contact with the facemask, and 99.9% after two hours.

Mkango Resources Ltd (LON:MKA) (CVE:MKA) is to be the beneficiary of a grant from the Industrial Challenge Fund, delivered by UK Research and Innovation (UKRI). The grant has been awarded to HyProMag Ltd, a subsidiary of Maginito Ltd, a unit of Mkango in which it holds a 25% stake. The project is “Rare-Earth Extraction from Audio Products” and will investigate ways of recycling rare earth magnets from speakers used in automotive and consumer electronics applications.

Greatland Gold PLC (LON:GGP) said its wholly-owned subsidiary Greatland Pty Ltd has signed a series of new agreements, including a fully formed joint venture deal and loan agreement for the Havieron project with Newcrest Operations Limited, a wholly-owned subsidiary of Newcrest Mining Limited (ASX:NCM). The Australia-focused precious and base metals exploration and development company said it and Newcrest have also signed a new joint venture agreement for the Black Hills and Paterson Range East licences, know as the Juri Joint Venture and Farm-in Agreement. In a statement, Gervaise Heddle, chief executive officer of Greatland Gold commented: “These new agreements with Newcrest represent a landmark moment for Greatland Gold, both in structuring the next stage in Havieron’s development and progressing our exploration efforts across the Paterson region.

Premier African Minerals Ltd (LON:PREM) has returned assay results from recent sampling at its newly acquired Mozambique tenement. The best grade returned was 23.7 grams per tonne gold, with several samples carrying grades of between 1.11 grams and 1.72 grams. “This remains an early-stage exploration and no resource conclusions may be drawn at this time,” said Premier African’s chief executive George Roach in a statement.

CentralNic Group PLC (LON:CNIC) saw revenue more than double year-on-year in the first nine months of 2020, with record organic revenue growth of 17%. The acquisitive internet platform operator saw revenue rise by 118% to US$168.5mln in the nine months to the end of September 2020, up from US$77.1mln the year before. Adjusted underlying earnings (EBITDA) jumped 68% to US$22.1mln from US$31.1mln the year before. Operating profit expanded to US$1.88mln from US$99,000 the year before.

discoverIE Group PLC (LON:DSCV) returned to organic revenue growth in September and in the last two months the group has seen orders running ahead of sales. The designer and supplier of customised electronics saw its momentum checked by the coronavirus (COVID-19) pandemic in the six months to the end of September but the second half of its financial year has started well enough for the company to resume dividend payments. Revenue in the reporting period eased to GBP217.9mln from GBP232.0mln in the corresponding period of last year.

Scotgold Resources Ltd (LON:SGZ) gas said it is on course to commence Phase 1 production at the Cononish gold and silver mine last today. Phase 1 targets average annual gold equivalent production of 9,910 ounces. Phase 2, which targets the expansion of production to 23,500 ounces, has been brought forward by 11 months to May 2022, the group added.

Custodian REIT PLC (LON:CREI) has acquired four industrial units covering an aggregate 23,250 square foot on Hilton Business Park, Derby, one mile from the A50 which connects the M1 and M6. The agreed purchase price of GBP1.975mln was funded from the company’s existing cash resources, resulting in net gearing increasing to the group’s 24.1% loan to value.

OKYO Pharma Limited (LON:OKYO) has said it expects to make an investigational new drug application for a treatment it is developing for dry eye disease (DED) in December 2021. OK-113 inhibits Chemerin, one of a key group of cell surface receptors called G-protein coupled receptors (GPCRs), which play an important role in inflammation and were the basis of the 2012 Nobel Prize in Chemistry. The drug candidate has shown “potent anti-inflammatory activity” in preclinical testing, investors were told in commentary accompanying OKYO’s interim results.

Location Sciences Group PLC (LON:LSAI) has signed up a second US customer for its Verify Audience platform and is continuing its work with the NHS to help analyse how people’s movements are affecting the spread of coronavirus (COVID-19) infections. The marketing location data specialist said US group The Spoken Thought, which trades as Mira, will use the platform to verify audience segments independently and offer customers a visibly differentiated premium product. The two companies have been working together throughout 2020 and this formal agreement will now allow Mira to deliver more accurate high-value audience segments to its customers.

Eco Atlantic Oil & Gas Ltd (LON:ECO) told investors it has successfully negotiated the reissue of four licences in the Walvis Basin, offshore Namibia. The licences awards remain conditional subject to customary final government signature, the company added. It negotiated the reissues and the establishment of a new 10-year life cycle for each of the four new Petroleum Exploration Licenses.

Bushveld Minerals Limited (LON:BMN) has satisfied the conditions required to draw down from the Orion Mine Finance facility announced at the end of September. The vanadium producer is in the process of drawing down funds from the US$30mln production financing agreement and has also informed Orion it plans to issue convertible loan notes to the finance group in return for US$35mln. The production financing agreement will provide funding to continue to grow production at Bushveld’s Vametco project and to repay debt.

Bahamas Petroleum Company PLC (LON:BPC) told investors that, in Trinidad, the Goudron field’s Enhanced Production Sharing Contract (ESPC) has now been signed. The ESPC gives the company with the continuing exclusive right to extract petroleum at Goudron until June 30, 2030. It replaces an existing 10-year production sharing contract which was due to expire at the end of 2020. The company noted that the ESPC had been anticipated earlier this year but was delayed amidst the coronavirus (COVID-19) pandemic.

US Oil & Gas PLC (USOP), in a statement at Friday’s close, announced that the Eblana-9 well, in Nevada, was spudded on November 27. The well is targeting a prospect in Hot Creek Valley that is estimated to host some 28 million barrels of oil in place. It will be a vertical well, drilled down to a depth of 5,300 feet. A total of three horizons are targeted – anticipated at 4,420 feet, 4,920 feet, 5,140 feet.

Gore Street Energy Storage Fund PLC (LON:GSF) has initiated the programme to finance a major expansion of its portfolio of industrial battery assets. The first stage is a subscription and placing of 60mln new shares at 100p each to be sold through an initial placing, offer for subscription and intermediaries offer. Following this initial raise, Gore Street intends to issue up to a further 250mln shares at the same price.

Tharisa PLC (JSE:THA) (LON:THS) boosted revenue by 18.4% to US$406mln in the year to September 30, 2020. The firm’s earnings rose by 119.8% to US$113.1mln, while operating profit rose 262% to US$87.6mln. Earnings per share increased by 305.0% to 16.2 US cents. Net cash flow was US$73mln as the company’s chrome and platinum group metal production in South Africa was supported by strong commodities prices.

Caledonia Mining Corporation PLC (LON:CMCL) has fully equipped the new central shaft at its Blanket gold mine in Zimbabwe, from the base to the collar. The shaft is now on track to be commissioned in the first quarter of 2021. The work has been completed considerably below budget and within a time frame to underpin the company’s expectation of delivering production of 80,000 ounces of gold in 2022.

AFC Energy PLC (LON:AFC) said it has appointed Iain Thomson as its new Head of Communications & Stakeholder Management, effective from January 4, 2021. The provider of hydrogen power generation technologies said it is a newly created role that will see Thomson take on the day-to-day responsibility for the company’s Communications & Investor Relations programme.