Nostra Terra Oil & Gas Company PLC (LON:NTOG) rocketed 50% to 0.6p after announcing over half of its current revenue stream is protected.
Under a hedging contract with oil major BP PLC (LON:BP), the Texan oiler will provide 1,800 barrels per month until June and 1,500 barrels per month thereafter until December.
The AIM-listed firm also extended a lending facility, from which it can draw US$1.78mln, until January 2022.
The AIM-listed pharma company confirmed that the EU filing for MED3000 is likely by the end of July, with the US Food & Drug Administration submission expected by the end of the third quarter.
Futura also said it had just over £2.5mln at the December 31 period-end, topped up in January by a fundraiser that brought in a gross £3.25mln.
1.50pm: Christie Group drops after profit warning
The AIM-listed firm, which provides business service to various sectors such as healthcare and hospitality, said many activities related to stock have been suspended.
The pharmacy segment continues to operate to support the crisis, while the majority of UK staff have been furloughed.
In the risers, Seeing Machines Limited (LON:SEE) surged 19% to 2.05p after inking a pre-production licence deal for its driver monitoring system (DMS) technology with an automotive firm.
The AIM-listed artificial intelligence company will receive a pre-production licence fee of US$5mln before June 30, 2020, in addition to future volume-based royalty payments.
It said the deal has been entered into under the terms of a pre-existing non-exclusive collaboration agreement for Seeing Machines’ to provide its DMS tech for an ongoing automotive programme.
11.45am: Botswana Diamonds lifted by licence awards
The AIM-listed firm also renewed four existing licences where previous analysis revealed “well defined targets”.
The African country is entering a 28-day lockdown beginning on Thursday so work will commence once the state of emergency is lifted.
The foreign exchange specialist continues to see “very strong growth in customer numbers” in the year to 31 March.
Full-year revenue is expected to rise 30% to £29mln, with forex turnover exceeding £12bn compared to £10.8bn in 2019.
10.30am: Central Asia Metals slips on uncertain outlook
Central Asia Metals PLC (LON:CAML) tanked 15% to 132p in mid-morning after flagging an uncertain outlook, as commodity prices are weakened by the coronavirus outbreak.
Operations have not been disrupted so far though the firm said it is “very conscious that the situation could change swiftly in the coming weeks and months”.
The AIM-listed miner is for now keeping the full-year production guidance of 12,500-13,500 tonnes for copper, 23-25,000 tonnes of zinc and 30-32,000 tonnes of lead.
The home credit and digital loans business said that if the situation worsens it can manage cash flows by reducing lending.
So far the firm has seen a “significant” impact on collections in the home credit business as agents are no longer allowed to visit customers.
9am: 7Digital rises on contract renewal
The digital music solutions company said it will continue providing music streaming content to GrandPad, the first tablet designed for people over 75.
The AIM-listed firm’s platform has been integrated with GrandPad since 2016.
Elsewhere, Faron Pharmaceuticals Oy (LON:FARN) shot up 12% to 524p after announcing its drug Traumakine has been admitted to a large-scale global programme that will assess its potential in treating severe pneumonia. That includes patients suffering from coronavirus.
Faron said its interferon beta-1 formulation will be delivered intravenously, which the AIM-listed company reckons offers the best “delivery route” for critically ill patients.
Proactive news headlines:
Faron Pharmaceuticals Oy (LON:FARN) (NASDAQFIRSTNORTH:FARON) said its drug Traumakine has been admitted to a large-scale global programme that will assess its potential in treating severe pneumonia, including patients with coronavirus (COVID-19). Faron said its interferon beta-1 formulation will be delivered intravenously, which the company reckons offers the best “delivery route” for critically ill patients.
Westminster Group PLC (LON:WSG) has said it continues to trade satisfactorily with a surge in orders for fever screening equipment offsetting reduced activity at its guarding arm and the Sierra Leone airport security contract. Overall, and in spite of coronavirus disruption, the business has performed well and been profitable in the three months to March, it said. Revenues were more than £4mln, an increase of 30% over a year ago, while cash holdings were £2.2mln.
Greatland Gold PLC (LON:GGP) has revealed that its partner at the Havieron gold project in Western Australia, Newcrest Mining (ASX:NCM) has completed stage 2 of the farm-in agreement by spending US$20mln on exploration. Newcrest is now embarking on stage three of the farm-in, and in accordance with the agreement now holds 40% of Havieron, with the remaining 60% interest retained by Greatland. In order to complete stage 3 of the farm-in, Newcrest must spend an additional US$25mln and deliver a pre-feasibility study.
Seeing Machines Limited (LON:SEE) has inked a pre-production licence deal for its driver monitoring system (DMS) technology with a major automotive tier one partner. Under the agreement, the AIM-listed firm will receive a pre-production licence fee of US$5mln before June 30, 2020, in addition to future volume-based royalty payments.
Iconic Labs PLC (LON:ICON) has reported reduced losses for the first half of its current year, as predicted, fueled by an increase in demand for its online content. For the six months ended December, 31, 2019, the company reported a loss of £848,233, down from a £1.18mln loss a year ago, while also recording revenues of £2,500.
CentralNic Group PLC (LON:CNIC) has reshuffled its leadership with a number of new appointments and director changes. Among the changes, the group’s chief operating officer, Alex Siffrin has said he will step down from the role and his position on the board and there is a new chief people officer and a new head for the firm’s reseller division.
Base Resources Ltd (LON:BSE) said it has drawn down the full US$75mln available under its existing revolving credit facility. As at February, 29, 2020, Base had cash reserves of US$37.7mln and no debt. It added that, supported by sound customer demand, production at the company’s Kwale mineral sands operation in Kenya has continued uninterrupted, with broad health and safety procedures implemented to minimise the risk of coronavirus to personnel and surrounding communities.
Anglo African Oil & Gas PLC (LON:AAOG) has provided a further financing update, noting the receipt of £50,000 from strategic investor Forum Energy to allow the company to satisfy near-term creditors. The company has in turn issued 22.72mln additional shares to Forum, at a price of 0.22p each.
Caledonia Mining Corporation PLC (LON:CMCL) (TSE:CAL) said its board has resolved to defer approval of a declaration of the group’s second quarterly dividend of 2020. The group has paid a quarterly dividend since 2014 and the payments are an important element of the company’s strategy to create and enhance shareholder value.
Echo Energy PLC (LON:ECHO) has updated on its debt restructuring negotiations, noting that debt holders have indicated support – albeit with interest payments for March not paid. It said amendments to the terms have been agreed for Echo’s £1mln loan facility, which carries 12% interest. Interest will roll up into the loan’s principle over the coming months, and as such quarterly cash interest payments are suspended until after March 2021.
Learning Technologies Group PLC (LON:LTG), the provider of services and technologies for digital learning and talent management, said that, further to its announcement of March 24, all conditions relating to the acquisition of Open LMS have been satisfied and that the transaction completed on March 31.
Afarak Group PLC (LON:AFRK) said it has temporarily shut all its mines in response to a lock-down order from the South African government which went out last week. Some sites, however, like Stellite and Zeerust, continue to treat tailings and to undertake toll treatment for third parties, it added. The move follows a difficult 2019 for the company, in which chrome prices were low.
INTOSOL Holdings PLC (LON:INTO), the award-winning international luxury travel company, said it has appointed Nigel Brent Fitzpatrick as its chief financial officer (CFO) effective from April 2, 2020.
Ariana Resources PLC (LON:AAU) the AIM-listed exploration and development company operating in Europe, has announced the completion of a detailed independent assessment of the Kiziltepe, Tavsan and Salinbas projects by international consultants of the Proposed Partner, following completion of the Memorandum of Understanding announced on November, 25, 2019. Dr Kerim Sener, Arian’s managing director, commented: “We are pleased to report the completion of the due diligence work of the technical consultants. A period of internal review will now be conducted by the Proposed Partner and Proccea. In addition, draft definitive legal documentation has been prepared and is being reviewed by the Parties. We look forward to reporting further on the proposed deal in due course.”
Capital Drilling Limited (LON:CAPD), a leading mining services company focused on the African markets, has announced the appointment of Berenberg as its joint corporate broker with immediate effect. It added that Berenberg will work alongside the company’s existing corporate broker, Tamesis Partners.