The artificial intelligence (AI) expert has won a new contract with the Australian Rail Track Corporation (ARTC).
Maestrano’s Airsight subsidiary will install its Corridor Insights LiDAR (Light Distance and Ranging) plus high-resolution camera equipment onto an ARTC data collection rail car, for the purpose of collecting accurate digital imagery and a “point cloud” of the rail network. This data will be processed by the Corridor Insights Artificial Intelligence (AI) platform, to measure encroachment and extract and match network assets, such as track-side equipment.
11.30am: Altitude Group hits the heights after it announces a “major” alliance with Advertising Specialty Institute
The agreement is with the Advertising Specialty Institute (ASI), which is the largest media, marketing and education organisation in the world, serving the US$24.7bn US promotion products industry through a network of over 23,500 distributors, decorators and suppliers.
Altitude said that as a result of the alliance its own AIM Smarter Portal and AIM Tech suite now have access to the ASI’s ESP database of products and suppliers, the largest of its kind in North America.
10.30am: Plus500 in the minus column again after a trading update
The contracts for difference (CFD) trading platform operator said it expects to report revenue and underlying earnings (EBITDA) for 2019 of about US$354mln and US$190mln respectively.
The shares ended 2017 at around 1,370p but plummeted in 2019 after a profit warning in February.
9.30am: CyanConnode on a charge as its partner makes formal purchase order
The purchase order, worth £3.3mln, was announced last month and has now been formally signed.
It includes a full set of terms and conditions under which the project will be implemented.
Volga’s average production in December was 4,505 barrels of oil equivalent per day, which was 4% lower than the month before.
The gas plant unit was working without disruption during the month while the liquefied petroleum gas (LPG) expander unit was tested and tuned. This new unit has enabled a higher rate of LPG extraction from the gas stream compared to that achieved with the original LPG unit, Volga said.
Proactive news headlines:
Avation PLC (LON:AVAP) has begun a strategic review which may include the possibility of the company selling itself. The aircraft leasing firm said the strategic review will consider multiple options to “maximise value for shareholders” including merger and acquisition activity, sales within the firm’s aircraft portfolio, as well as the sale of the entire company.
Open Orphan PLC (LON:ORPH) has landed a three-year contract with a ‘tier-one’ German pharmaceuticals company, building on an existing relationship. No financial details were given, though the group said the new deal guaranteed “significant annual revenue” with work expected to get underway this month. Open Orphan unit Venn Life Sciences will provide the new customer pharmacokinetic services that allow the researchers to decide dosing and assess for drug side-effects.
Echo Energy PLC (LON:ECHO) told investors that it has carried out perforation and started stimulation operations for the Campo La Mata x-1 well, at the Tapi Aike project. The mechanical stimulation of the Campo La Mata x-1 well’s deeper secondary target, in the Anita formation, will now begin shortly, the company said. It noted that it will subsequently move on to the shallower primary target, the ‘Magalllanes 20’, which will be perforated and undergo mechanical stimulation. This work is expected to take two weeks.
Tremor International Ltd (LON:TRMR), the video advertising technology company, is to acquire Unruly, News Corp‘s programmatic video marketplace. In return for transferring ownership of Unruly to Tremor, News Corp (NASDAQ:NWS) will receive a 6.91% stake in the AIM-listed firm. Tremor has also entered into a global partnership with News Corp that will equip Tremor with the exclusive right to sell out-stream video on more than 50 News Corp titles in the UK, US and Australia.
Seeing Machines Ltd (LON:SEE) says it has optimised its FOVIO driver monitoring system (DMS) to specially address new European requirements on driver drowsiness and distraction detection due to come into force in 2022. The AIM-listed firm said the new FOVIO variant will be optimised for basic systems that are compliant with the Euro new car assessment program (NCAP), a performance review to evaluate the safety of new vehicles, with the capacity to support more advanced DMS requirements if needed. In a separate announcement, the firm also unveiled plans to showcase its FOVIO DMS technology at the CES 2020 consumer technology show in Las Vegas between 7-10 January.
Bahamas Petroleum Company PLC (LON:BPC) has opened its new Bahamian mutual fund to investors. The company set up the fund last month in order to give qualifying Bahamian investors a route to invest in the company and its upcoming hydrocarbon exploration activities in the waters off the islands. The fund is open to qualifying investors between 6 January until 7 February 2020.
NQ Minerals PLC (LON:NQMI) (OTCMKTS:NQMLF) has delivered another record-breaking set of production results from its Hellyer mine in Tasmania, Australia. During 2019 the company returned steadily increasing production of lead concentrate, such that, in the first quarter, production was running at 4,712 tonnes, while by the end of the year production had hit 8,160 tonnes. Total lead concentrate production for the year rang in at 24,980 tonnes.
Shefa Gems Ltd (LON:SEFA) said its chief financial officer, David Ben David is investing US$50,000 (£38,290) in the company via a convertible loan made out on the same terms as a previous loan of US$200,000 announced in November 2019. This loan is in addition to another previous loan made by David in March.
Genel Energy PLC (LON:GENL) has announced that the TT-34 well at the Taq field will commence production “around the middle of January”. In a statement, the oiler said the well is nearing completion, with a maximum combined flow rate of over 3,900 barrels of oil per day (bopd), while it will have an initial output of between 1,500 and 2,000 bopd once it comes on stream.
Nu-Oil and Gas PLC (LON:NUOG) has raised £420,000 in a share placing to enable the company’s entry into new contracts. Nu-Oil, in a statement, said that the injection of capital will allow it to engage consultants and third party due diligence providers as it moves towards a ‘reverse takeover’ transaction. It issued 800mln new shares to investors at a price of 0.0525p
Zenith Energy Ltd (LON:ZEN, CVE:ZEE) has agreed to advance £250,000 to Anglo African Oil & Gas PLC (LON:AAOG) in the form of a secured loan. The purpose of the loan is to give Anglo African (AAOG) additional working capital to tide it over until Zenith buys AAOG’s 80% interest in the latter’s subsidiary company that owns a 56% stake in the Tilapia field in the Republic of Congo. The acquisition of the stake is, it should be noted, conditional on AAOG shareholders approving the sale; there is potentially another option on the table in the form of a proposal from Jub Capital, the investment manager focused on smaller companies, to pump money into AAOG although AAOG’s management has expressed scepticism over Jub’s proposition.
OPG Power Ventures PLC (LON:OPG) as confirmed that, under the payment of a scrip dividend of 0.6p per share in respect for full-year 2019, shareholders will receive one new ordinary share for every 30.25 existing ordinary shares, based upon the scrip price of 18.15p per share. As a result, a total of 12,823,311 scrip shares will be issued today to shareholders on the register as at 13 December 2019.