Small cap news round-up
Following a share buy-back by an Australian miner, AIM-listed explorer Red Rock Resources has received £537,131($655,874).
In the share buy-back by Jupiter Mine, Red Rock tendered 6% of the 27.32m shares it held in Jupiter, which is equates to about 1.2% of its issued share capital.
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Salt Lake Potash has widened its first-half pre-tax loss on the back of higher exploration, evaluation and business-development expenses.
Its primary focus during the period continued to be the advancement of the Lake Wells' Project, which was located in the Northern Goldfields of Western Australia.
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H&T Group has bumped up its full-year pre-tax profit and improved its total dividend in what it styled as a strong set of financial results in a challenging industry.
The pawnbroker delivered a full-year pre-tax profit of £9.7m, from £6.8m. Revenue was up at £54.8m, from £47.5m. Its total dividend was 5.3p a share, up from 4.5p a share.
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Internet of Things-focussed technology company Telit Communications published its results for the year to 31 December 2016 on Monday, with revenues up 11.0% to $370.3m.
The AIM-traded firm said IoT services revenues were up 36.5% to $35.1m as the group increasingly focuses on those services.
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Shares in Everyman Media Group are up more than 5% after it swung to a full-year pre-tax profit on improved revenue, and entered a new up to £20m debt facility.
Full-year pre-tax profit was £540,00, from a loss of £730,000. Revenue was £29.5m, from £20.3m.
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AIM-listed specialty metals producer Wolf Minerals has received confirmation from Resource Capital Fund VI of the release of a further £10m from the 12-month secured bridge loan facility of up to £30m.
Wolf said the increased bridge facility reinforces RCF's continued support of the company's financial requirements and operations as it works towards commercial production and design performance at the Drakelands open pit mine.
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Smart Metering Systems announced on Monday that it has agreed a new £280m revolving credit facility with a syndicate of banks, comprising Barclays Bank, Santander UK, HSBC UK, Clydesdale Bank and Bank of Scotland.
The AIM-traded firm said the facility replaces its existing £150m facility, which was announced in March 2016.
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Specialty pharmaceutical company ShieldTherapeutics announced an intellectual property update on Monday, including that IP Australia had granted a composition of matter patent protecting the active substance of Feraccru - the company's lead product for the treatment of iron deficiency anaemia - to late October 2035 in Australia.
The AIM-traded firm said the Australian patent, entitled "Crystalline Forms of Ferric Maltol", was granted utilising an expedited examination under the Global Patent Prosecution Highway program, based on the UK patent "Polymorphs of Ferric Maltol" granted by the UK Intellectual Property Office in September 2016, protecting the active substance of Feraccru through to October 2034 in the UK.
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Anti-microbial technology company Byotrol has bought Winch Pharma Consumer Healthcare for up to £114,000 as part of a move to consolidate its supply chain.
The AIM-listed company paid £70,000 up front and will pay up to £44,00 in 2018, subject to contract renewal by Winch Pharma’s major customer, the NHS Business Services Authority.
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Shares in eServGlobal are down more than 3% after commenting further work is needed despite clear evidence of turnaround in full-year 2016.
"The task of a complete turnaround remains in focus," the company said in a statement.
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Galantas Gold Corporation announced on Monday that underground development had commenced on the Omagh gold property, County Tyrone, Northern Ireland.
The AIM-traded firm said initial works were for the formation of a portal initial tunnel entry area in the western side wall at the base of the Kearney open pit.
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Shares in Quadrise Fuels International plummeted on Monday after the company announced that shipping giant Maersk will suspend its trial of a new vessel powered by its alternative fuel until the end of the year.
Quadrise, which supplies MSAR emulsion technology and fuel as a low-cost alternative to heavy fuel oil, said that although the trial is suspended Maersk confirmed that has been successful to date and it wants to continue to work with Quadrise to explore commercial options.
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Clinical-stage pharma company Scancell Holdings says in 2017 it will focus on raising the funds necessary to commence a Phase II SCIB1 trial in combination with a checkpoint inhibitor.
The company is developing two distinct immunotherapy platforms, each with broad applications and targeting multi-billion dollar markets.
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Mineral exploration and development company Beowulf updated the market on its graphite drilling programme at its Aitolampi prospect, part of its 100% owned Pitkäjärvi 1 exploration permit, on Monday.
The AIM-traded firm said four diamond drill holes were completed as part of an eight hole programme, with approximately 505 metres drilled in total, with drill holes extended 350m along strike for the main conductive zone.
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Brain health company Ixico has won a $1.5m contract from a pharmaceutical for its imaging clinical trial technology and services.
The contract with an existing customer will see the company supply services for a phase two clinical trial of patients in the early stages of progressive supranuclear palsy, a Parkinson's-like neurodegenerative condition caused by the premature loss of nerve cells in certain parts of the brain, with the study is expected to complete in 2020 and possibly extended.
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AIM-listed miner Vast Resources has promoted chief geologist Craig Harvey to chief operating officer.
Harvey has been a consultant to Vast as chief geologist since 2013, working on the company’s two producing mines which were commissioned during his tenure.
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Support service provider Pennant International Group’s contract with Public Services and Procurement Canada has been amended, adding £2.3m (CA$3.8m) in value to the deal.
Pennant Canada’s contract for its OmegaPS software to be used throughout the Canadian Department National Defence, which runs to September 2018, will now allow for additional services to "be called upon as and when required by the customer".
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AIM-listed Porta Communications is to represent clothing brand F&F Tesco in the UK and manage a network of agencies across Europe, including Poland, the Czech Republic, Hungary and Slovakia, for an undisclosed sum.
F&F will work with the fashion team at Publicasity, Posta’s public relations agency, and its partner agencies including Odd London and MediaCom, to promote the brand through media engagement, press events and support brand partnerships.
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Shares in Rex Bionics fell almost 70% after it said it would likely need external funding by the end of April to remain as a going concern, and at the same time outlined strategic talks with a "substantial" international partner and a potential AIM de-listing.
"Despite intensive efforts over recent weeks on the fundraising and discussions with existing and new public market investors, while the company had received some indications of funding support, these have been insufficient to cover the minimum requirement," said Rex Bionics.