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Diploma surges after raising full-year expectations

Diploma PLC (LON:DPLM) saw its shares rise by a tenth to 3,030p after it boasted of a “very strong first-half performance”.

The electrical components supplier raised full-year expectations after the six months to the end of March 2021 saw underlying revenue growth of 2% from a year earlier and a rise in the profit before tax to £42.5mln from £41.6mln in the corresponding period 12 months earlier.

Having deferred payment of an interim dividend last year because of COVID-19, the company recommended payment of an interim divi of 12.5p this time around.

1.35pm: KEFI hit by mining licence rumours

KEFI Gold and Copper plc (LON:KEFI) dived 5.4% to 2p after speculation in the press about the mining licence for its Tulu Kapi project.

KEFI said it is not aware of any breach of any licence conditions and has not received any warning letter from the Ethiopian Mines Ministry about the possible cancellation of the mining licence; neither has it had notice of such an intended letter flagged to them formally or informally.

All parties involved in the project are extremely busy closing the financing and development preparations as outlined in the company’s recent announcements, KEFI said.

12.40pm: W Resources lower after announcing intention to raise funds

W Resources PLC eased 1.5p to 7.75p after it said it expects to raise about £2.5mln via a placing.

The company will use most of the proceeds to create a permanent solution to the high water levels at its La Parrilla mine in Spain.

The company is taking steps to lower the water level and regain access to the higher-grade ore at La Parrilla and significantly increase tungsten and tin production there.

11.45am: Bould over …

Bould Opportunities PLC (LON:CIZ) is not doing well in its early days as a listed stock, with the cash shell’s shares down 23% at 7.25p.

The company, once known as Photonstar LED and soon to be renamed Cizzle Biotechnology, returned to the market last Friday after placing shares at10p a throw.

Cizzle Biotechnology is a spin-out from the University of York and was initially funded by Yorkshire Cancer Research, White Rose Technology Seed Corn Fund, Finance Yorkshire Seedcorn LLP and Viking Members, who with management, invested in the project to support the development of a prototype blood test.

10.50am: Orders flood in at Cerillion

Cerillion Technologies Limited (LON:CER) climbed 9.8% to a 52-week high of 670p following well-received interim results.

The billing, charging and customer relationship management software solutions provider revealed a record half-year performance for new orders in the six months to the end of March, with new orders up 148% to £23.6mln from £9.5mln a year earlier.

The back-order book is at a record level and indeed, according to Louis Hall, the group’s chief executive officer, all major performance measures are “moving to new highs”.

10.00am: Futura rises despite tapping the market

Futura Medical PLC (LON:FUM) shares advanced 11% to 48.7p despite tapping the market over the weekend for funds.

The company, best known for its gel to treat erectile dysfunction, raised more than £10mln through its oversubscribed placing of shares at 40p a pop.

The company also raised £2mln through an offer at the same price to retail investors on the PrimaryBid platform.

9.05am: Immunodiagnostics Systems succumbs to offer from PerkinElmer; MyHealthChecked lifted by second order from Boots

Immunodiagnostic Systems Holdings PLC (LON:IDH) shares jumped 45% to 370p after it agreed to a 382p per share offer from PerkinElmer.

The acquisition values Immunodiagnostic Systems at about £110mln, and implies an enterprise value (i.e. adjusted for debt/cash) of around £88mln.

PerkinElmer is a US privately-owned life sciences and diagnostics company.

In other diagnostic news, MyHealthChecked PLC (LON:MHC), which used to be called Concepta until last December, headed 17% higher to 4.9p after it signed a second tract with Boots the Chemist.

Boots has agreed to stock the MyHealthChecked COVID-19 at-home nasal swab kit, laboratory testing service and logistics for day two and day eight coronavirus testing for international arrivals.

Today’s rise wiped out most of last week’s share price decline; a week ago, the shares were trading at around 5.25p.

Proactive news headlines

Shield Therapeutics PLC (LON:STX), developer of a breakthrough new product for anaemia, has opened the door to investment from the US with a stock market quote on the OTCQX Best Market.

Zoetic PLC (LON:ZOE) said it is trading profitably as its latest market update revealed it has brought in an additional US$1mln of orders for its Chill CBD smokes and chews in the space of two weeks.

Empire Metals Ltd (LON:EEE) appointed Shaun Bunn to the board as managing director effective from 1 June 2021. Bunn is a metallurgist based in Perth, Western Australia, with over 35 years’ experience in exploration, mining, processing and project development, including over 25 years’ experience in the gold mining sector.  

Futura Medical PLC (LON:FUM) raised more than £10mln through its oversubscribed placing of shares at 40p a pop. The company also raised £2mln through an offer at the same price to retail investors on the PrimaryBid platform.

Guild Esports PLC (LON:GILD) said it has launched an online esports training platform, Guild Academy, to drive the growth of its talent pool of future pro players, fanbase, and long-term revenue streams.

4D pharma PLC (LON:DDDD, NASDAQ: LBPS) said it will present phase II data from its Live Biotherapeutic, Blautix, which was used to treat patients with irritable bowel syndrome subtypes IBS-C and IBS-D. It will do so via a poster session at Digestive Disease Week, on May 22 from 12.15pm EDT to 1pm (5.15-6pm BST).

Cobra Resources PLC (LON:COBR) has completed 138 out of a planned 976 holes in its geochemistry sampling programme on the Wudinna gold project in South Australia. The work will aid in confirming the orientation of known mineralisation at the Barns and White Tank prospects ahead of a reverse circulation drilling programme.

EQTEC PLC (LON:EQT) and MetalNRG PLC (LON:MNRG) are teaming up to acquire and recommission a waste-to-energy plant in Italy. The plant was built around EQTEC’s proprietary and patented Advanced Gasification Technology.

Inspiration Healthcare Group PLC (LON:IHC) has won an order worth more than £1.25mln to supply ventilators to China.

Pelatro PLC (LON:PTRO) said it has secured several contracts for change requests amounting to around US$300,000 that will be delivered in 2021. 

Union Jack Oil PLC (LON:UJO) in its results statement told investors it remains ‘highly positive’ as it looks to its prospects.

i3 Energy Plc (LON:I3E, TSX:ITE) has announced a new mutually beneficial agreement with Baker Hughes to restructure a contract entered into previously in 2019.

Caerus Mineral Resources PLC (LON:CMRS) has completed 24 of a planned 39 drill holes at its North Mathiatis copper-bearing waste stockpiles in Cyprus.

Directa Plus PLC (LON:DCTA) has reported a 144% surge in revenues over 2020 as the maker of graphene-based products said it had maintained its focus on delivering products into its core environmental remediation and textile verticals.

Landore Resources Ltd (LON:LND) said drilling on the BAM gold deposit, part of its Junior Lake property in Canada, is set to resume on Wednesday after being suspended for the spring thaw. Bonanza grade gold has already been intersected during the current drilling programme.

Cornish Metals Inc (LON:CUSN)(CVE:CUSN) lost C$1.6mln during the year to 31 January 2021, as exploration and evaluation work continued on its portfolio of assets in Cornwall. During the financial year, the company raised C$2.4mln and used it for a proof-of-concept drill program at the famous South Crofty tin project and for general working capital purposes. 

Emmerson PLC (LON:EML) lost £1.5mln in the year to 31 December 2020 as it continued to work up its Khemisset potash project in Morocco. Cash and cash equivalents stood at £1.14mln at the end of a year during which the company made significant operational, corporate and commercial progress towards establishing what it terms “Africa’s first large-scale potash mine”.

Kodal Minerals PLC (LON:KOD) said a mining licence application for its flagship Bougouni lithium project in Mali is advancing and also provided an update on the exploration programme for its Ivory Coast gold assets.

MGC Pharmaceuticals Ltd (LON:MXC) (ASX:MXC) said it has submitted a patent application for its CimetrA medical product to the Slovenian Intellectual Property Office (SIPO).

Faron Pharmaceuticals Oy (LON:FARN) released promising data from a clinical study of its Bexmarilimab cancer treatment.

W Resources PLC (LON:ARES) expects to raise about £2.5mln via a placing and will use most of the proceeds to create a permanent solution to the high water levels at its La Parrilla mine in Spain.

Panther Metals PLC (LON:PALM) announced that it has received notice of exercise of a total of 1.3mln warrants with an exercise price of 6p per share, raising £79,100 for the company. 

United Oil & Gas PLC (LON:UOG), the growing oil and gas company with a portfolio of production, development, exploration and appraisal assets, announces that it has received notices of exercise of warrants to subscribe for a total of 19,650,000 new ordinary shares, which it has issued for an aggregate cash consideration of £315,000.

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