Kromek (LON: KMK) has been awarded a $5.9m US government contract for the development of a bio-detection system that provides real-tie threat detection. This should generate £874,000 in the 12-month period to October 2024. The share price continues to recover from its recent all-time low and is 14.5% ahead at 4.75p.
Ironveld (LON: IRON) is raising £450,000 from its largest shareholder Tracarta, while other shareholders will invest £550,000. The subscription price of 0.29p is a premium to the market price, which improved 15.6% to 0.26p. Tracarta’s board nominee Dr John Wardle will become executive chairman. The cash will provide working capital and fund critical repairs at the Rustenburg smelter.
Cornish Metals (LON: CUSN) has commissioned and opened its water treatment plant at the South Crofty tin project in Cornwall. Mine dewatering could take 18 months and the plant will treat the water. The share price rose 7.89% to 10.25p.
A positive AGM statement from telecoms equipment manufacturer Filtronic (LON: FTC) pushed up the share price by 4.13% to 16.4p. Performance is in line with expectations and there is significant potential from the Low Eart Orbit satellite market.
FALLERS
Replacement windows supplier Safestyle (LON: SFE) does not expect to secure additional finance and it is more likely that the business will be sold. The share price slumped 63.8% to 0.58p.
Argentex (LON: AGFX) has appointed Jim Ormonde as interim chief executive. He replaces previous chief executive Harry Adams, who is the second largest shareholder with 12.3%. A strategic review has identified areas of the payments sector to focus on. Jim Ormonde was boss of Cardsave, which was bought by WorldPay, and he has been a consultant to Argentex. Current trading is in line with expectations even though activity levels have been lower. The share price dived 20.9% to 76p, which is the lowest it has been for 15 months.
Hummingbird Resources (LON: HUM) third quarter production figures were slightly better than expected. There was 19,000 ounces of gold produced and the same amount was sold. Selling prices were lower than anticipated and profit was lower than expected. Full year production guidance has been trimmed to 90,000-100,000 ounces. The share price fell 8.65% to 9.5p.
R&Q Insurance Holdings (LON: RQIH) has signed a loss portfolio transfer with a UK motor insurer. This covers a net reserve of $80m. There are a further $900m of similar opportunities. Last week, the company revealed that it is selling its program management business. The disposal should generate $300m of net proceeds. Mazar has been appointed as auditor. The share price dipped a further 3.12% to 15.55p, which is nearly three-quarters down on one week ago.
Ex-dividends
Avingtrans (LON: AVG) is paying a final dividend of 2.8p/share and the share price is unchanged at 380p.
BP Marsh (LON: BPM) is paying a dividend of 2.78p/share and the share price is unchanged at 357p.
Mulberry (LON: MUL) is paying a final dividend of 1p/share and the share price is 2p lower at 183p.
Sylvania Platinum (LON: SLP) is paying a final dividend of 5p/share and the share price is down 5.1p to 73p.
Serica Energy (LON: SQZ) is paying an interim dividend of 9p/share and the share price fell 4.4p to 225.2p.
FW Thorpe (LON: TFW) is paying a final dividend of 4.84p/share and the share price declined 5p to 360p.