Electronic and electro-mechanical components supplier LPA Group (LON: LPA) has won three major contracts worth £4m. They are with French rail operator SNCF Voyageurs for interior LED lighting, Siemens Mobility, also for LED lighting, and seating manufacturer Grammer for eat electronics and lighting for trains in France. The SNCF contract last five years while the others are deliverable in 2025 and 2026. The share price increased 31.6% to 75p
Nioko Resources is making a recommended offer of 2.68p/share for Hummingbird Resources (LON: HUM). This is the same as the price of the debt-to-equity swap previously announced. That takes the Nioko Resources stake in Hummingbird Resources to 72%. The share price jumped by one-third to 2.2p.
Diagnostic tests developer Abingdon Health (LON: ABDX) has secured a deal with US-based Find Out From Home, where it owns a 17% stake, for evaluation, regulatory and clinical testing services for four sexually transmitted disease tests. This will enable filings for FDA and other approvals. The deal is worth $2m and the initial order is worth $350,000. The new Doncaster laboratory helps the company to offer these services to international clients. The share price rose 10.3% to 8p.
Oil and gas producer Arrow Exploration (LON: AXL) has completed drilling of the Alberta Llanos-1 exploration well, which has intersected four reservoirs. This could be the third field on the Tapir block in Colombia. Flow testing will follow. Zeus upgraded its target share price from 54p to 55p, while Canaccord Genuity maintains its target price at 50p. The share price improved 5.75% to 23p.
FALLERS
Cadence Minerals (LON: KDNC) has signed a letter of intent with Hesperian Metals to acquire tungsten antinomy gold licences for projects in Spain and Portugal. Both have old workings and the main focus is tungsten. Cadence Minerals will acquire up to 40% of licences through a payment in cash and shares and commitment to spend €2.4m on exploration. The deal is subject to due diligence. A placing is raising £1m at 1.5p/share. The share price slumped by two-fifths to 1.65p.
Blue Star Capital (LON: BLU) is asking for shareholder approval for a share consolidation and reduction in the par value of shares to 0.001p so that it can raise cash from a share issue. This will be done by consolidating 200 shares into one new share and then subdividing them into one ordinary and 199 deferred shares. The £150,000 subscription will be at 2p/share post-consolidation. The share price fell by one-quarter to 0.015p pre-consolidation.
Conygar Investment Company (LON: CIC) reports a decline in NAV from 159.4p/share to 103p/share in the year to September 2024. That is mainly due to a £28.3m write down on the value of group properties, plus a specific £1.4m in the value of the investment in the proposed residential development at the Fruitmarket site in St Philip’s Marsh, Bristol. There is £4.7m in cash, but borrowings have tripled to £55.9m. The share price slipped 15.5% to 49p.
Yesterday evening Nativo Resources (LON: NTVO) says that the overall consideration for the Morrocota gold mine acquisition will be lower than originally agreed. There will also be a delay in the investment. The share price declined 8.33% to 0.0022p.