Arc Minerals Ltd (LON:ARCM) has sold for A$30,000 an option to sell its interest in the Šturec gold project in Slovakia.
MetalsTech Limited, an Australian listed mineral exploration company, will be able to exercise the option to acquire the project or a gross consideration of up to US$8mln.
Shares in Arc were up 8% at 2.7p on the news.
2.30pm: AO World’s Dutch courage rewarded
The white goods seller said it is to close its operations in the Netherlands to focus on its German business.
AO World’s Dutch operation, which made a £2.8mln adjusted underlying loss in the six months to 30 September, will be closed in the second half resulting in a full-year impact of £3mln.
1.30pm: ECSC hits the button in the third quarter
The cybersecurity company reported record levels of Consulting, Managed Services and Incident Response revenue in the three-month period.
The three business lines had seen organic growth of around 25% in the period, while for the fourth quarter-to-date consulting bookings reached record levels.
12.30pm: Tri-Star hits production milestone in Oman
The company’s antimony-gold processing facility in the Port of Sohar Free Zone, located in the Sultanate of Oman, produced antinomy metal at the world standard commercial grade of 99.65%.
Tri-Star’s share of the processing facility is held through its 40% interest in Strategic & Precious Metals Processing.
“This proves the metallurgy of the process and enables us now to focus on full-scale commercial production,” claimed Adrian Collins, the chairman of Tri-Star.
11.30am: Spectris on track to meet full-year expectations
The FTSE 250 company has made a decent fist of things in a tough second half of the calendar year, with like-for-like (LFL) sales flat year-on-year in the four months since the beginning of July.
“Our LFL sales were flat in the period, up 1% in the year to date, against a tough comparator last year and the slowdown in the macroeconomic environment. We have the usual second-half weighting and significant fourth quarter to deliver. We remain on track to meet our expectations, subject to end markets not deteriorating further, as we continue to focus on what we can control,” said Andrew Heath, the chief executive of Spectris.
10.30am: ITM Power and Iwatani to collaborate in North America
The companies will work together to deploy multi-megawatt electrolyser-based hydrogen energy systems in North America.
Particular areas of interest lie in the California hydrogen refuelling station market and large-scale liquid and gaseous renewable hydrogen production for domestic and export markets.
9.45am: Kape Technologies the top riser after proposing acquisition of digital privacy specialist
The company is paying US$95.5mln for LTMI Holdings, the company that owns Private Internet Access, and is also taking on around US$32.1mln of LTMI’s debt.
Kape will also acquire LTMI’s suite of digital privacy products.
9.00am: Cash calamities befall PetroTal and Plutus
PetroTal Corp (LON:PTAL) shares plunged 18% to 20.6p after the company revealed its cash pile was not as high as previously indicated.
The seventh bullet point in the oil producer’s third-quarter update slipped the bad news in with no fanfare: the company’s cash and cash equivalents position as at September 30 was US$20.5mln and not roughly US$40mln as stated in the company’s stock market announcement of 21 October.
The company said its October announcement incorrectly classified some current asset items as cash and cash equivalents.
The company revealed it has ceased to receive management fees from its six FlexGen sites and its management contract with Attune Energy.
The loss of management fees will have a negative impact on the company’s working capital position, leaving it “highly constrained” as this is presently the group’s sole revenue stream.
Redx Pharma PLC (LON:REDX) said grant funding for its latest project provided “validation” of its scientific capabilities.
Hurricane Energy PLC (LON:HUR) is beginning drill stem testing on the Warwick West well, located in the UK’s West of Shetland continental shelf.
Alien Metals Ltd (LON:UFO) has notified the seller of the Hancock Ranges and Brockman iron ore projects, Windfield Pty Ltd, that it intends to exercise its option to acquire a 51% interest. The decision follows the completion of the technical due diligence report.