RUA Life Sciences (LON: RUA) has announced an exclusive global commercialisation partnership with medical device company Corcym for its large-diameter vascular grafts. The share price jumped 35.9% to 62.5p – the highest it has been for one year. RUA’s products are for straight and aortic root grafts and fit with the current portfolio of heart valves supplied by Corcym, which has operations in more than one hundred countries. Gross margin will be shared equally.
The CPP Group (LON: CPP) share price continues to rise even though yesterday afternoon it put out a statement saying it did not know why it had increased. A further 15.3% rise takes it to 219p, up from 110p at the start of the week.
Velocys (LON: VLS) shares rose 13.9% to 4.72p, after it announced a relationship agreement with Bechtel for developing sustainable aviation fuel projects. Bechtel will provide engineering and processing expertise.
Clinical studies operator hVIVO (LON: HVO) did better than expected in 2022. Revenues were 31% ahead at £50.6m and margins were higher than forecast. Pre-tax profit of £5.4m is anticipated. Net cash was £28.4m at the end of the year, when the order book was worth £76m – more orders have been added since then. The share price has picked up this year and it rose a further 12.1% to 167p.
Builders merchant Lords Group Trading (LON: LORD) is growing faster than expected even though markets remain tough. The 2022 pre-tax profit forecast has been maintained at £16m, even though revenues were 3% higher than forecast. Broadening the product range has helped. The share price increased 9.74% to 84.5p. The July 2021 placing price was 95p.
Tracking systems developer t42 IoT Tracking Solutions (LON: TRAC) has secured an order for 1,000 Tetis cargo tracking units from a US-based client. The share price rose 6.5% to 5.75p.
Following the departure of the recently appointed chief executive last week Inland Homes (LON: INL) has sold its greenfield strategic land portfolio. There was a £3.5m profit on the sale that raised £9.5m. There will also be fees for assisting the purchaser. Despite the disposal, net debt has risen to £100m and trading conditions have deteriorated. The 2021-22 loss is expected to be £91m and NAV has fallen to 40p a share. The share price slumped 32.9% to 11.75p.
Beowulf Mining (LON: BEM) is raising up to £9.1m to finance the development of the Kallak iron mine. This includes a £2.1m PrimaryBid offer at 2.06p a share, compared with a market price of 3p, down by one-quarter on the day. The cash will fund a pre-feasibility study and resource drilling, as well as reducing debt.
South America-focused electricity generator Rurelec (LON: RUR) says it is running short of cash and there is little prospect of a dividend from its Argentinian subsidiary. The majority shareholder is against issuing more shares. Management hopes to sell the investment in the Argentinian business and become a shell. The current cash should last into the second quarter of 2023. The share price dipped 13.6% to 0.475p.
Jangada Mines (LON: JAN) says that commodity price volatility is holding up its development plans. Management is waiting for the right time to start the Pitombeiras iron, vanadium and titanium project in Brazil. The completion of the Brazilian election should make it easier to progress discussions with local customers. The share price has fallen 18.7% to 3.7p.
