UK News

Gama Aviation slips after warning on second half trading

Gama Aviation PLC (LON:GMAA) slid 7% to 33.9p after warning the second half will be impacted by reduced government support in the UK.

The AIM-listed aviation company said the underlying performance will be similar to the first half and trading to end of September in line with management expectations.

In the six months to June 30, revenue dropped 23% to US$93mln while last years £3mln profit before tax turned into a £4mln loss.

12.15pm: Orosur Mining rockets after Agnico Eagle joins Colombian project

Orosur Mining Inc. (LON:OMI) rocketed 79% to 9.75p after Agnico Eagle joined Newmont at the Anzá Project in Colombia, owned by Orosur.

NYSE-listed Newmont and Agnico will jointly assume and advance Newmont's prior rights and obligations to carry out exploration at the project, with Agnico acting as operator.

“To now have two of the world's top 10 gold miners (combined production of over 7.5 million ounces per year) investing in our project is testament to its potential and we look forward to an eventful year,” said Orosur chief executive Brad George.

11.30am: Hawkwing zooms up after raising cash at a premium

Hawkwing PLC (LON:HNG) zoomed up 775% to 3.5p in late morning after raising £1.2mln after placing shares at 3p per share, a 33% premium to the 2p per share admission to the new listing.

In fact, the cash shell, which sold its Australian sports management and marketing agency last year, has also moved from AIM to the standard listing segment of the main market.

The proceeds will be used to acquire technology companies that provide solutions for specific industries such as digital marketing, medical applications, business and financial services and the sports sector.

10.30am: IDE Group tumbles on full-year results warning

IDE Group Holdings PLC (LON:IDE) tumbled 27% to 1.28p in mid-morning after warning revenue and underlying earnings (EBITDA) will be lower in the second half of the financial year due to uncertainty around the timing of certain contracts and projects.

The IT provider expects to have sufficient cash resources throughout the forecast period, however the levels of cash fluctuate and at times in the forecast period are relatively low and it may end up requiring additional funding.

The AIM-listed firm announced further job cuts due to the decrease in certain service lines as a result of the pandemic.

Meanwhile, Trafalgar Property Group PLC (LON:TRAF) slipped 14% to 0.14p after admitting its recent move into the assisted living sector has not proved to be a success.

The firm is now concentrating on its core activity of property development for residential homes and apartments.

Sales of completed units have been delayed by some months since the start of the pandemic, however the construction had been completed, though there were also delays in getting planning permission for other potential new sites.

9.20am: Diurnal Group shoots up on US approval for Alkindi Sprinkle

Diurnal Group PLC (LON:DNL) shot up 15% to 76.16p early on Wednesday after announcing the US Food and Drug Administration approved Alkindi Sprinkle as replacement therapy for children with adrenocortical insufficiency (AI).

AI is a condition in which the adrenal glands do not produce adequate amounts of steroid hormones, primarily cortisol.

The firm partnered with Eton Pharmaceuticals to commercialise the drug in the US, while it has already launched in Europe.

Elsewhere, Iconic Labs PLC (LON:ICON) advanced 12% to 0.016p on the back of a commercial partnership agreement with Glimpse Protocol, a provider of advanced technologies to Ad-tech.

Iconic Labs said this collaboration allows it to be well positioned to become industry leaders in the cookieless advertising space and future proof this part of the media companys business.

Glimpse Protocol will benefit from Iconic Labs advertising experience and access to multiple platforms, including to trial their technology.

Proactive news headlines

Iconic Labs PLC (LON:ICON) has unveiled a commercial partnership agreement with Glimpse Protocol, a provider of advanced technologies to Ad-tech. The media company said this collaboration allows it to be well-positioned to become industry leaders in the cookieless advertising space and future-proof this part of its business.

Genedrive PLC (LON:GDR) said its coronavirus testing kit been approved by the South African health products regulator.

Bahamas Petroleum Company PLC (LON:BPC) told investors it expects to spud the Perseverance-1 exploration well before Christmas, as it gave its latest operations update on preparations.

Integumen PLC (LON:SKIN) has signed a memorandum of understanding with the WaterRising Institute to supply equipment to detect pathogens including COVID-19 in the Great Lakes region in Michigan.

Chaarat Gold Holdings Ltd (LON:CGH) said the impact of military action between Azerbaijan and Armenia in the Nagorno-Karabakh region has been “minimal” on the company's operations.

Sensyne Health PLC (LON:SENS) chief executive Lord Drayson said the wider adoption of clinical artificial intelligence (AI) and remote patient monitoring during the pandemic “underlined the growth potential that our model can deliver”. He was speaking following the publication of preliminary results that showed that Sensyne was gaining significant commercial traction for its model.

Zoetic International PLC (LON:ZEO) appears to have emerged from a transitional year in a strong position with its branded cannabidiol (CBD) line registering significant early growth. The sale of legacy oil and gas assets has allowed the team to focus on the core business and the consumer reaction to the companys CHILL tobacco-free CBD 'smokes' and CBD chew pouches products has “exceeded expectations”, investors were told.

Open Orphan PLC (LON:ORPH) said it is targeting growth with strong operational cash flow in the second half of 2020 and is on target to be operationally profitable in the fourth quarter of the year.

Tiziana Life Sciences PLC (LON:TILS) (NASDAQ:TLSA) said it is “well positioned” to advance its pipeline of drug candidates following what it said was a “busy six months”.

ImmuPharma PLC (LON:IMM) has posted a reduced loss in the first half of its current year despite disruptions caused by the coronavirus (COVID-19) pandemic as it continued to focus on progressing its Lupuzor lupus treatment.

S&U PLCs (LON:SUS) chairman Anthony Coombs has highlighted a “very encouraging” rebound in the companys trading following the UK's pandemic lockdown and there were “significant opportunities” to attract new customers and increase market share going forward.

Minds + Machines Group Limited (LON:MMX) is expecting a stronger second half as the recovery from the pandemic-related impacts continue. The website domain company, in its interim results statement, noted that its business is traditionally second-half weighted and it is expecting both revenues and earnings (operating EBITDA) to be ahead of the first half.

City Pub Group Plc's (LON:CPC) executive chairman has warned that the chancellors Winter Economy Plan isnt suitable for the pub sector and will result in significant job losses. “The current package of support simply does not go far enough stave off immediate and permanent damage to an industry that pays significant tax and employs 10% of the UK's workforce,” Clive Watson said in a statement with the groups interim results.

NQ Minerals PLC (AQSE:NQMI)(OTCQB:NQMLF)(OTCQB:NQMIY) generated sales of £15.6mln during the six months to June 2020. Pre-tax losses amounted to £18mln, after £14mln in financing costs were added to selling and distribution expenses and administrative costs.

W Resources PLC (LON:WRES) said although the coronavirus pandemic has had an affect, production is building at its La Parilla mine as it staRead More – Source




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