CPP Group (LON: CPP) says that its InsurTech business, Blink Parametric, has signed a new partnership agreement for its flight disruption product with a European insurer. Two contracts have been extended with Canadian partners. Another strategic partnership has been secured with Firemelon, a provider of travel insurance systems to tour operators, which will include Blink’s real time platform in its systems. The shares are 11.4% higher at 206p.
The AGM statement of Tertiary Minerals (LON: TYM) underlines the focus on copper exploration in Zambia and Nevada. The Brunton Pass project in Nevada is the primary focus for 2023. The company has received historical data for the Mukai and Mushima North projects in Zambia, which are near to existing projects and mineralisation. Exploration targets are being identified and field programmes should commence in the next couple of months. There was a 10.2% share price rise to 0.135p.
Falcon Oil & Gas (LON: FOG) has commenced fracking on a well for the within the Amungee Member B shale at the Amungee NW-2H well in the Betaloo Basin, Australia. This will take up to three weeks. This is the first of two horizontal wells. The share price improved by 6.74% to 10.3p.
Libertine Holdings (LON: LIB) is linking up with Sweden-based Azelio to integrate and licence Libertine’s HEXAGEN platform with its energy storage technology. The two companies have worked together since 2020 to evaluate the technology. The share price rose 7.69% to 21p.
Deferral of contracts by clients has led to forecast downgrades for Jaywing (LON: JWNG) and 2022-23 pre-tax profit expectations have been more than halved to £1m, while next year’s forecast has been slashed from £3.7m to £2m. The digital marketing services provider has won an Australian online education services contract that helps to offset some of the expected decline in revenues in 2023-24. The share price slumped 21.8% to 5.375p.
Medical device developer Creo Medical (LON: CREO) is raising £25m at 20p a share and could raise a further £5.2m from an open offer. The share price fell 18% to 22.75p. However, the share price was below 20p earlier in the week. The cash will be used for further development and commercialisation of its minimally invasive electrosurgical devices. Management believes that there could be enough money to reach cash flow breakeven. Directors and management are investing £2.1m.
Asset manager AssetCo (LON: ASTO) has £3.1bn of assets under management, including the recently purchased SVM Asset Management. A loss was reported for the year to September 2022, but that was mainly due to costs and write-downs related to acquisitions. AssetCo is seeking further acquisitions, but this year’s figures will provide a more realistic indication of the underlying profitability of the group after its recent acquisitions. The share price declined 10.5% to 68p.
Baron Oil (LON: BOIL) has published the CPR for the Inner Moray Firth licence P2478 in the North Sea, where Baron Oil has a 32% interest and the operator is Reabold Resources (LON: RBD), which has a 36% stake. Fully listed Upland Resources (LON: UPL) owns the rest. The Dunrobin West prospect has prospective resource of 201mm barrels of oil equivalent gross with a 34% probability of success. The main risks relate to the trap and seal. Baron Oil shares fell 7.5% to 0.235p, although Reabold Resources shares are 2.08% higher at 0.245p.
Ex-dividends
i3 Energy (LON: I3E) is paying a dividend of 0.17p a share and the share price rose 0.12p to 20.02p.
Knights Group Holdings (LON: KGH) is paying an interim dividend of 1.53p a share and the share price fell 1.1p to 76.9p
Mattioli Woods (LON: MTW) is paying an interim dividend of 8.8p a share and the share price is 5p lower at 620p.
