7Digital (LON: 7DIG) has won a new contract with Pinterest and the share price has jumped 62.2% to 0.365p. The three-year contract will deliver licenced commercial music tracks to Pinterest via the 7Digital music-as-a-service platform.
Corcel (LON: CRCL) has signed an exclusive 45-day option to acquire 100% of the Mt Weld project in Western Australia. This is near to an existing rare earths mine. An option payment of £15,000 has been made. If the option is taken up, then £200,000 will be paid.
ECR Minerals (LON: ECR) says that drilling at its Creswick gold project in Australia has found exceptionally good grades. ECR highlights a 0.7 metres @ 47.75g/t of gold, but other grades are much lower. Even so, they are significant grades for this type of project and ECR is trying to secure licences for adjoining tenements.
Shanta Gold Ltd (LON: SHG) continues to rise on the back of yesterday’s announcement of three potential bidders – Shandong Gold Group, Yintia Gold and AIM-quoted Chaarat Gold Holdings (LON: CGH). The first two are likely to make a cash bid.
Cambridge Cognition (LON: COG) has won a £1.1m contract with a major pharm company to provide electronic clinical outcome assessments and hardware for a rare blood disease study. This lasts two years. Last week, Cambridge Cognition paid up to £1.7m for eClinicalHealth, which is a virtual clinical trials provider.
Artisanal Spirits Company (LON: ART) says its subsidiary The Scotch Malt Whisky Society has signed a franchise agreement with FJ Korea in South Korea, which is the tenth largest market for scotch whisky. This is a new market for the company.
North Sea gas producer IOG (LON: IOG) is the worst performer on the day with a 53.2% slump in the share price to 8.75p after it suspended drilling at the Southwark A1 well due to fluid losses. The focus has moved to A2 so that IOG can produce gas from this area in this quarter. Second half production guidance for the group has been cut from 30-50 mmscf/day to 22-28 mmscf/day.
Verditek (LON: VDTK) shares have fallen after it said that it is no longer exclusive lightweight solar panels supplier to a joint venture between Bradclad and Protan AB and it has not received any orders since June. The shares slid 36.1% to 1.15p.
Parcel delivery and logistics company DX (LON: DX.) has finally returned from suspension and the share price has slumped by one-fifth to 24p. Given the inability to trade in the shares for more than one year due to the failure to publish audited accounts for 2020-21 due to corporate governance problems, which appear to have been sorted out. Those accounts have been published and the 2021-22 accounts are due in November and are expected to show a pre-tax profit of £19.6m. Non-exec Russell Black has left the board. A new permanent chief executive is being sought.
Real-time assistance products supplier CPP Group (LON: CPP) intends to focus on its insureTech business Blink and its operations in Turkey and India. The Blink business needs to be scaled up. The remaining legacy and non-core operations will be sold or closed. The share price fell 13.6% to 117.5p.
Shares in Revolution Bars (LON: RBG) have fallen 10.3% to 10.5p after yesterday evening’s announcement of the acquisition of Peach Pubs for £16.5m. This will be paid from borrowings. Peach Pub has 21 food-led pubs in the south of England and the Midlands. There should be £1.5m of cost savings from combining the businesses at a minimal cost, but they will not be fully achieved until 2024-25. finnCap has adjusted its 2022-23 forecast for Revolution Bars due to higher energy costs, so the earnings estimate has been reduced by 69% to 0.5p.
