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Stanley Gibbons 2.35p  £10m (AIM:SGI)

Covid-19 update.

· All areas of the business remain open and functioning other than the physical shop.  Along with the Publications Department, Customer Services team, Rare Stamp and Baldwin‘s businesses, the shop remains open for telephone and email enquiries and orders. 

· No auctions were planned for late March or April. Has delayed planned auction in May but will shortly be launching an online only auction with a view to potentially doing more of these hereafter.  All phone and email lines across the business remain manned throughout normal business hours.

“The coin market has remained quite robust in recent weeks and we have seen evidence of more people showing an interest in both coin and stamp collecting. The higher end of the stamp market has however seen a more pronounced impact from the current situation.”


Anpario 380p  £87.6m (LON:ANP)

Anpario has been and continues to operate with little disruption in terms of production and delivery to customers on a worldwide basis.  The strong performance in the first quarter is from customers increasing stock levels and recent business development initiatives coming to fruition.  Anpario entered this crisis with a strong balance sheet and as at 25 April 2020 has a cash balance of £13.8m. The Board reaffirms its commitment to the previously announced final dividend of 5.5p.

Anpario has recently filed an international patent application for an invention following a combined and successful research programme with the University of Reading. This research demonstrated that Anpario has developed a natural essential oil composition that could reduce the presence of certain antimicrobial resistant bacteria in the gut of young cattle.  


Red Rock Resources  0.225p  £1.53m (AIM:RRR)

Update on its wholly owned subsidiary Red Rock Australasia Pty Ltd (RRAL).

The Company through RRAL has applied for EL 007271, a 130 sq km exploration license area in the Victoria Goldfield of Australia south of Ballarat, and has agreed to issue new shares in RRAL to Power Metal Resources plc (AIM:POW) to give POW a 49.9% shareholding in RRAL.


Malvern International 0.225p  £0.6m (AIM:MLVN)

As has previously been announced, all of Malvern UK learning centres are currently closed as is its school in Singapore. While some teaching has been successfully moved online, the Company has experienced a very significant drop in revenue and cash inflow. As there is no certainty as to when and how COVID restrictions will be lifted or how quickly trading activity will be able to resume, there is considerable uncertainty as to the Company’s prospects. It is currently anticipated that the Company’s existing working capital facilities will be exhausted by the end of May. The Company is in discussion with its existing major shareholders and debt providers regarding the raising of additional funding.


Randall Quilter 146p  £293m (LON:RQIH)

The global program management and legacy acquisitions specialist, is pleased to announce US$100 million of new equity investment into the Group by way of:

· a US$80 million subscription by Brickell Insurance Holdings LLC, an investment vehicle controlled by 777 Partners, for a new series of preferred stock issued by Randall & Quilter PS Holdings Inc., an indirect wholly owned subsidiary of R&Q, which are exchangeable at a price of £1.35 per Ordinary Share

· a US$20 million subscription by funds managed by Hudson Structured Capital Management  Ltd. at a price of £1.35 per Subscription

Proceeds from the Investment will be utilised primarily to invest in the growth of R&Q’s program management and legacy businesses.


Diaceutics 120p  £83m (AIM:DXRX)

Cancer Testing and Diagnosis Suffers Sharp Downturn, finds Diaceutics

–  Diaceutics data analytics shows 31% drop in the number of newly-diagnosed patients with lung cancer

–  Data also shows decrease in the number of colorectal, breast and ovarian cancers patients diagnosed

–  14% drop in newly-diagnosed patients with acute myeloid leukemia

–  Insights based on real-time information from Diaceutics’ data lake based in the US


Braveheart Investment Group 21p  £5.9m (AIM:BRH.L)

£275k placing at 17p, a discount of approximately 24.4 per cent. to the closing mid-market price per existing ordinary share of 22.5 pence on 28 April 2020

The Company intends to use the net proceeds of the Placing to enable the it to continue to provide additional financial investment into its Strategic Investments being: Paraytec Limited (100 per cent.), Pharm 2 Farm Limited (51.7 per cent.), Kirkstall Limited (64.67 per cent.), Gyrometric Systems Limited (19.95 per cent.), Phasefocus Holdings Limited (25.00 per cent.) and Sentinel Medical Limited (38.38 per cent.).


EKF Diagnostics 39.1p  £177.6m (AIM:EKF)

Agreement with Source BioScience UK Ltd , which provides Laboratory testing services for the NHS, to supply PrimeStore MTM, a novel patented sample collection device, to be used for its growing COVID-19 testing service.


Yesterday, the Company announced that is in the final stages of establishing a UK production line for the PrimeStore MTM sample collection kits at its site in Penarth, South Wales, to meet increasing demand. The Penarth site is expected to produce 12,500 sample collection tubes a day once normal production is established, with smaller early batch volumes expected to be shipped to Source BioScience next month.


Mirada 122.75p  £9.1m (AIM:MIRA)

FY Mar 20 update.  Total revenues for the year in excess of $13.0 million (FY19: $12.3 million), with adjusted revenues excluding discontinued activities. EBITDA of $4.0 million (FY19: $0.8 million), with adjusted EBITDA (excluding the one-off gain from the sale of Mirada Connect) of $2.3 million, lower than current market expectations but more than 180% growth on last year .  Significantly, EBITDA in the second half of FY20 is expected to be in excess of $2.0 million (H2 FY19: $0.9 million).


Regarding COVID-19, the whole Company transitioned to remote-working and has been performing without incident for more than six weeks. We continued implementing and deploying new product features as planned, without delays, and we do not foresee any operational constraints for the time being. Although our customers are currently experiencing exceptional increase in demand for their services owing to generalised lockdowns in their territories, it is still too early to predict the long term impact of the present situation on their businesses.


Kore Potash 0.9p  £14m (LON:KP2)

Results of recent drilling at the Dougou Extension (DX) Potash Solution Mining Project, as part of the DX pre-feasibility study PFS.


· Drilling of diamond drill infill holes for the DX PFS was completed during Q1 2020

· Significant high grade sylvinite intersections include:

o  Hole DX_07 containing 4.2 m grading 56.4% KCl

o  Hole DX_09B containing 4.9 m grading 32% KCl

· Results from these drill holes being incorporated into the DX PFS



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Derren Nathan

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