Pelatro PLC (LON:PTRO) has said it is “confident of delivering a performance in line with expectations for 2020” after the customer engagement software specialist reported an increase in its revenue visibility for the year. In a trading update to be delivered at the companys AGM on Wednesday, the company said its activities had been “minimally impacted” by the coronavirus pandemic and that demand for its solutions had “not flagged. As a result, Pelatro said its revenue visibility for 2020 had increased to US$5mln with annual recurring revenue (ARR) rising to US$4.7mln. In a separate statement later, Pelatro said that each of the resolutions as set out in the notice of AGM dated May 20, 2020, were duly passed by shareholders on a show of hands without amendment.
Pelatro's aim of achieving double-digit annualised recurring revenues within two to three years “looks very achievable” and should be a catalyst for the re-rating of its shares, according to broker Cenkos. “Fair value in our view lies in a multiple range of 5-7 times, ie a possible doubling or more of the share price,” they said, reiterating their buy recommendation.
Panther Metals PLC (LON:PALM) has launched a high-resolution airborne electromagnetic (AEM) and magnetics geophysics survey on the Big Bear gold project in Ontario, Canada. It is using contractor Prospectair Geosurveys which is flying the high-resolution AEM and Magnetics surveys. The programme will comprise some 678 line kilometres. It will use a system designed to provide increased resolution of near-surface targets, popular with Canadian gold and base metal explorers. Panther noted that preliminary data will be expected within 3 days of the survey completion, and data modelling and interpretation reports will be due in July.
ReNeuron Group PLC (LON:RENE) has received regulatory approvals in the US and UK to expand its phase IIa stem cell studies in people with the degenerative eye disease retinitis pigmentosa. In the same announcement, investors were told the company would focus its in-house activities on the retinal disease programme, while also developing its exosome-based technology. This, ReNeuron chief executive Olav Hellebø said in the statement, provided the company “with significant near-term opportunities to deliver value-enhancing data and commercial partnerships”.
Metal Tiger PLC (LON:MTR) noted that its 17.1% owned associate Southern Gold Limited has updated on its drill programme, which is confirms gold-containing mineralisation. In a statement, Southern Gold said that three new holes were drilled at the Aphae project and all have intersected significant sulphide and/or silica flooded vein breccia and base metal sulphide veining. Detailed assay results are pending. In a separate statement, on Tuesday afternoon, Metal Tiger also updated on another associate Kalahari Metals Limited (KML). Metal Tiger owns 62.2% of KML which is preparing to restart drilling at the Kitlanya East (KIT-E) project by the end of June. It comes as Botswana is gradually relaxing coronavirus (COVID-19) restrictions. Drilling at KIT-E was suspended in early April. During the lockdown period KML remodelled and interpreted data and preliminary drill results and this has led to a refinement of the follow-on targets.
Frontier IP PLC (LON:FIPP) said a joint project between it and the University of Cambridge to tackle gum disease has received a £52,891 grant from the National Biofilms Innovation Centre (NBIC). The proof-of-concept award will support an eight-month project to explore the potential of origami-like DNA nanostructures to disrupt the dental plaque biofilms formed by P.gingivalis, the bacterium responsible for gum disease. Built around the work of Dr Ioanna Mela, the investigation will also attempt to identify at least one DNA nanostructure to take forward into commercial development in partnership with industry.
Chariot Oil & Gas PLC (LON:CHAR) has highlighted its continuing work to advance the Anchois gas field, offshore Morocco, to define the project and unlock debt financing. Posting its full-year 2019 results, the company confirmed that completion of pre-FEED work for the gas field is the key strategic focus for the group through the remainder of 2020. It is working to progress concept testing, selection and definition, along with engineering modelling and design. Meanwhile, commercially, it is aiming to secure heads of terms agreement with potential offtake partners.
TomCo Energy PLC (LON:TOM) has raised £1.5mln of new capital from a share placing, with the funds earmarked for the Greenfield Energy joint venture in Utah. The group sold 375mln new shares at a price of 0.4p each, with the number of new shares representing 136% of its current share capital. The placing was arranged by broker Turner Pope Investments and investors will additionally receive one share warrant for every two placing shares they purchase – exercisable at 0.8p over the next two years. TomCo has established the Greenfield Energy LLC joint venture vehicle with engineering partner Valkor LLC to pursue the development of an oil sands plant.
Quadrise Fuels International PLC (LON:QFI) has clarified the report by TomCo Energy PLC (LON:TOM) about an exclusive licence for the use of MSAR alternative fuel technology in Utah The alternative fuels group said it has been working with Valkor Technologies, which has just set up a joint venture with Tomco, to investigate the potential deployment of MSAR technology on heavy and paraffinic oil deposits in Utah Evaluation work is going well, Quadrise said, which might lead to the granting of a conditional licence for MSAR on commercial terms to Valkor. At this stage, no licences or rights to licences for the use of MSAR technology have been granted to Valkor for hydrocarbons produced from oil sands in Utah or for any other purpose.
Tekcapital PLC (LON:TEK) the UK intellectual property investment group focused on creating marketplace value from university technology, has said its portfolio company Belluscura PLC is making good progress with its 510K premarket submission to the US Food & Drug Administration (FDA) though it has been impacted by coronavirus (COVID-19) associated external supply chain issues which has increased the scarcity of certain key components, increased lead times, and reduced capacity at part manufacturers and testing facilities. The group said Belluscura is in the process of completing the final surety tests and anticipates it will receive 510K clearance in the second half of 2020. Belluscura is focused on developing novel oxygen-based treatment platforms that can be adapted and applied in a wide range of markets beyond those traditionally applicable to a single product or product line.
Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF) has released a virtual site presentation which showcases progress on the process plant site, Lake Way Village, trench network and various construction works at the Lake Way Sulphate of Potash (SOP) Project in Western Australias northern Goldfields region.To view the presentation, visit this link: https://www.investi.com.au/api/announcements/so4/d31c6791-c39.pdf
ADM Energy PLC (LON:ADME), an AIM-listed oil and gas investing company has announced the appointment of Hybridan as lead broker of the company with immediate effect.
Keywords Studios PLC (LON:KWS) was started at a buy recommendation by broker Shore Capital as it initiated coverage of the technical services provider to the video games development industry Analysts Katie Cousins and Roddy Davidson noted that Keywords is building the worlds leading tech and creative services platform focused on video games, “the most complex of interactive content”.
Advanced Oncotherapy PLC (LON:AVO), the developer of next-generation proton therapy systems for cancer treatment, said it has been informed that Seamus Mulligan has a total beneficial interest in it of 30,405,721 ordinary shares of 25p each, Read More – Source