Beowulf Mining PLC (LON:BEM) shed 5% to 4.5p as it considers legal action against the “unacceptable delays” by the Swedish government.

The miner has been waiting for the green light on an exploitation concession for Kallak, a magnetite iron ore deposit in the north of the country.

The AIM-listed firm was told in September the dossier was under preparation and sent a second poke in December which went unnoticed.

Meanwhile, BigDish PLC (LON:DISH) rose 3% to 2.99p as the company announced a switch to centralised telesales marketing from Manchester has doubled the number of restaurants using its yield management system in just a month.

Numbers of restaurants signed up have increased by 150% to 351 since November, according to an update by the company, which is a platform to helps restaurants in the UK to fill up their spare capacity and optimise their revenues.

The service, which is designed to help restaurants fill tables at quiet times, will roll out to 56 Wildwood and dim t sites this year.

1.50pm: CentralNic on the rise with new chairman 

CentralNic PLC (LON:CNIC), the domain name and web services specialist, continued its recent good run with a 3% rise to 88p.

A trading update is due shortly, though George O’Connor at house broker Stifel attributes the improvement in sentiment more to the appointment of tech and e-commerce veteran Iain McDonald as chairman in December.

CentralNic has made several acquisitions and delivery on its plans had been a concern for the market.

But with the new chairman in place, investors have been reassured about execution and the direction it is heading.

O’Connor raised his share price target to 189p from 181p last week and expects the trading statement to confirm progress within the existing business accompanied by more details on Team Internet, the recent acquisition in Germany.

Team Internet is a good fit with the existing web-services business and there are significant cross-selling opportunities, he adds.

Meanwhile, FireAngel Safety Technology Group PLC (LON:FA.) dropped 8% to 14p after reporting full-year underlying operating loss is expected to be 31% wider at £2.9mln.

There will also be an extra £3.2mln extra charges taking the total to £5.3mln, the developer of home safety products said.

Most of these relate to the legacy battery warranty issue, stock provisions and non-cash intangible development costs.

12.15pm: Open Orphan’s London facility could treat coronavirus victims

Is the market missing a trick with Open Orphan PLC (LON:ORPH)?

Its recent acquisition of hVivo means it is now the owner of the largest commercial quarantine clinic in northern Europe.

While it is normally used for vaccine trials, the 24-bed London facility is thought to be one of the few centres in the UK able to safely treat coronavirus victims.

OO’s shares, up 20% in the year to date, were rose 1% 6.1p.

Allergy Therapeutics (LON:AGY) has a pathfinder in the form of Aimmune Therapeutics (NASDAQ:AIMT), which last week won regulatory approval for Palforzia, America’s first drug treating life-threatening reactions to peanuts.

UK group Allergy is itself developing an inoculation to prevent anaphylaxis.

Its jab, called PolyVac Peanut, will enter the clinic later this year – so it is some way behind the Aimmune’s product.

Still, the early signs for PolyVac are encouraging with preclinical data carried in the Journal of Allergy & Clinical Immunology suggesting a single injection helped mice generate “sustained immunity and protection through vaccination”.

Broker finnCap reckons Aimmune’s success has “read-across” implications for Allergy Therapeutics’ valuation.

The American group is worth £1.5bn, finnCap’s healthcare analyst Mark Brewer pointed out.

Even allowing for a conservative 9.6% chance of success, that still puts the “implied risk-adjusted net present value” of PolyVac at between £85mln and £110mln, he said in a note to clients.

The British firm’s market capitalisation is currently £71.5mln – that’s an enterprise value of around £32mln given the £39.7mln cash on the balance sheet at the year-end.

Bear in mind, Allergy (flat at 11.24p) turned over more than £50mln in the last six months.

11.20am: React Group shines with deep cleaning contract

React Group PLC (LON:REAT) was a bright spot in late morning rising 8% to 0.65p on the announcement of a new £121,000 deep cleaning contract.

The specialist cleaner was hired by an existing customer to work at a “prestigious” health sector site based in central London for seven months.

“We are delighted that our established track record within the health sector has once again been recognised with this recent contract award,” said executive chairman Gill Leates.

In a different branch of the health sector, Scancell Holdings PLC (LON:SCLP) shot up 185 to 9.1p after updating on its lead skin cancer drug, SCIB1.

The Oxford-based pharma company said it will ramp up patient recruitment after receiving the green light to start a phase II clinical trial by the US authorities.

The drug will be administered in combination with Keytruda, a Merck-developed treatment that helps the immune system fight the disease, in study parallel to an existing one in the UK.

AIM-listed Corero Network Security PLC (LON:CNS) jumped 16% to 6p as it announced two new customer wins plus an additional purchase from an existing customer.

The contracts, which combined total US$1mln, are for its SmartWall DDoS (distributed denial of service) protection product.

The network security firm said it made a “strong” start of the new year.

10.30am: NAHL crashes to all-time low after profit warning

NAHL Group PLC (LON:NAH) crashed 42% to an all-time low of 56.01p after warning the outlook for 2020 is now “significantly” lower than previous expectations.

The National Accident Helpline owner has stashed the dividend in the glovebox for now and is putting the brakes on capital expenditure in the personal injury division.

This business is being hit by uncertainty due to government reforms originally planned for April, although NAHL’s residential property segment is expected to grow despite the difficult UK market.

Meanwhile, SpaceandPeople PLC (LON:SAL) had slightly better luck, dropping a relatively mild 5% to 11.44p following a lukewarm trading update.

The advertising space manager said revenue for the year to 31 December was lower than expected, but gross profit and profit before taxation were in line with estimates thanks to lower direct costs.

Its dividend was increased by 33% to 0.75p while management added it was awarded a multi-year agreement by Abellio.

Broker Arden Partners plc (LON:ARDN) slid 3% to 15.5p as revenue for the year to dropped 10% to £6.6mln due to political uncertainty.

The company said the small and mid-cap community saw reduced activity levels as many investment decisions were put on hold pending some form of clarity.

The current year has started “well” after the election has provided more clarity.

9.30am: Starcom rises thanks to smart padlocks demand

Starcom PLC (LON:STAR) was an early riser on Monday jumping 13% to 1.3p after flagging “significant progress” in its range of products suggesting a “promising growth trajectory” in the new year.

The remote tracking specialist said Lokies, its smart keyless padlock, is in growing demand and “could become the market leading product” among competitors.

GPS tracker Kylos is also performing well, Starcom added, noting that its full-year results are expected to be in line with expectations.

Meanwhile, ADM Energy Plc (LON:ADME) advanced 19% higher to 4.8p on a deal with commodities trader Trafigura.

The natural resources investment company said the “strategic alliance”, once formed, will find potential deals in the African energy sector.

For any projects approved by Trafigura, ADM will be provided with pre-financing of up to US$100mln to acquire or develop the assets.

Moving to the energy sector, Oracle Power PLC (LON:ORCP) surged 24% to 0.8p after a major investor agreed to a 12-month lock-in for 200mln shares.

His Highness Sheikh Ahmed Bin Dalmook Al Maktoum, a member of the ruling family of Dubai, will not sell, transfer or otherwise dispose of the rights to its stake.

“We would like to express our gratitude to His Highness for volunteering to enter into the Lock-In arrangement, highlighting his long-term view towards Oracle,” said Naheed Memon, chief executive of the AIM-listed firm.

Proactive news headlines:

Oracle Power PLC (LON:ORCP) has entered into a shareholder lock-in agreement with His Highness Sheikh Ahmed Bin Dalmook Al Maktoum and Sheikh Ahmed Bin Dalmook Al Maktoum Private Office One Person Company LLC. The Lock-in is being entered into voluntarily by His Highness and is effective for a term of 12 months. During this period His Highness has agreed not to sell, transfer or otherwise dispose of the rights to any of the 200mln Oracle shares that he owns.

Scancell Holdings PLC (LON:SCLP) said it will ramp up patient recruitment after receiving the green light to start a phase II clinical trial of its cancer treatment in the US. This followed the granting of investigational new drug status for SCIB1 by the Food & Drug Administration (FDA) for use in people with late-stage melanoma.

Corero Network Security PLC (LON:CNS), the network security company, has announced two new customer wins for its SmartWall DDoS (distributed denial of service) protection product, plus an additional purchase from an existing customer, totalling US$1.0mln over the course of the contracts. Ashley Stephenson, Corero’s CEO commented: “We have made a strong start to 2020 with these new and existing customer wins demonstrating the increasing traction for our SmartWall products.”

BigDish PLC (LON:DISH) said a switch to centralised telesales marketing from Manchester has doubled the number of restaurants using its yield management system in just a month. Numbers of restaurants signed up have increased by 150% to 351 since November, with January alone seeing a 120% rise.

ADM Energy Plc (LON:ADME) shares surged on Monday morning after it struck a deal with commodities trader Trafigura to find potential deals in the African energy sector. If the planned “strategic alliance” is formed, AIM-listed ADM will be in charge of “originating, analysing, developing, structuring and negotiating” potential projects with other parties and then will present them to Trafigura for “further evaluation”.

Eco (Atlantic) Oil & Gas Limited (LON:ECO)  has reported a 29% increase in the estimate for the amount of oil contained at its Orinduik Block, offshore Guyana. Gross prospective resources are now estimated at 5.14mln barrels on a p50 basis or best basis, which amounts to a net 771mln barrels to Eco for its 15% stake.

Directa Plus (LON:DCTA) has won a second contract for its graphene-enhanced oil contaminant treatment Grafysorber through subsidiary Setcar. The contract is with GSP Offshore, part of the Romanian oil services group GSP, and worth €5mln over a seven-year period.

IronRidge Resources Ltd (LON:IRR) has returned more high-grade gold as well as broad intersections in the latest batch of assay results from exploration at the Zaranou gold project in Côte d’Ivoire. The results form the final batch of assays from the company’s maiden exploration drill programme which totalled 7,448 metres of aircore drilling in 151 holes and 1,593 metres of reverse circulation drilling in 10 holes. Among the highlights were six metres at 6.44 grams per tonne gold, and two metres at 7.11 grams per tonne gold.

Yellow Cake PLC (LON:YCA) has revealed results for the quarter to 31 December 2019. The company’s estimated net asset value rang in at 211p per share, a significant premium on the current share price of 187p. Total assets amounted to US$245.3mln, comprising largely of 9.62mln pounds of physical uranium (U3O8) valued at a spot price of US$25.00 per pound.

Integumen PLC (LON:SKIN) has formed an alliance with a specialist supplier to municipal and utility customers in order to broaden distribution for its RAWTest water testing product. The AIM-listed company’s Rinocloud subsidiary agreed a commercial development partnership with South Africa’s Acumen Software to create a combined offering of Acumen’s integrated mobile asset and management software platform with RinoDrive’s data analytics, data refining capabilities and RAWTest AI real-time water monitoring service.

Verona Pharma PLC (LON:VRP, NASDAQ:VRNA) said David Zaccardelli has replaced Jan-Anders Karlsson as chief executive, while Mark Hahn has been drafted in as chief financial officer. The respiratory drugs specialist said Karlsson was retiring after eight years with the company and will pursue non-executive roles, while former CFO, Piers Morgan will remain in place until the end of the month “to provide an efficient transition and complete required financial reporting”. The two new senior hires have come from Dova Pharmaceuticals, which was last year sold to Swedish Orphan Biovitrum AB in a US$915mln deal.

Polarean Imaging PLC (LON:POLX) announced that Dr Jonathan Allis has assumed the role of non-executive chairman of the clinical stage medical imaging technology company with immediate effect. In a statement, the AIM-listed firm – which is developing a proprietary magnetic resonance imaging (MRI) drug-device combination – noted that Dr Allis has a wealth of direct knowledge in healthcare and the medical imaging contrast agent industry and is currently the founder and chief executive officer of Blue Earth Diagnostics, which was recently acquired by Bracco Imaging for US$450mln.

Angling Direct PLC (LON:ANG), the UK’s largest and fastest-growing fishing tackle and equipment retailer, has appointed Dilys Maltby, who has extensive experience working with consumer brands both as a consultant and as a client, as a non-executive director of the company with immediate effect. In a statement, the AIM-listed firm said Maltby, who has a strong track record in advising international consumer brands on their purpose, brand strategy and proposition, will be working with its board “to review, identify and deliver on its purpose”.

Gulf Keystone Ltd. (LON:GKP) has confirmed that a gross payment of US$20.1mln (US$15.8mln net) has been received from the Kurdistan Regional Government for Shaikan project crude oil sales during September 2019.

Resolute Mining Ltd (ASX:RSG) (LON:RSG) has strengthened its balance sheet by repaying a US$130 million acquisition bridge facility that funded the cash component of Resolute’s acquisition of Toro Gold Limited in July 2019. Repayment of the facility was funded from proceeds of the company’s recent equity raising in combination with available cash on hand.

Base Resources Limited (LON:BSE) (ASX:BSE), the African mineral sands producer has advised shareholders that the latest company presentation, which was given at the Arlington Pre-Daba conference and will be presented at the 121 Mining Investment conference – both in Cape Town, South Africa – is available from the company’s website.  www.baseresources.com.au.

Danakali Limited (ASX:DNK) (LON:DNK) said shareholders can view the group’s Investing in African Mining Indaba conference presentation on the company’s website. https://www.danakali.com.au/investor-relations/corporate-presentations