Water Intelligence shares fell 0.6% to 810p in early morning trading on Tuesday after the company announced a $17 million expansion to its credit facilities.
According to the water solutions and infrastructure company, the investment will include an additional $15 million contributed to further acquisitions of its American Leak Detection franchises (ALOC), alongside a two-year extension on its $2 million working capital line.
Water Intelligence said that the $17 million expansion is set to complement the firm’s £12.5 million, which it raised from an equity placement in Q4 2021.
The group added that the financing would facilitate continued accretive growth in favour of all shareholders, due to the ALOC’s $15 million in non-dilutive capital to reacquire part of the estimated $100 million in profitable gross sales currently being executed within the company’s American Leak Detection subsidiary.
“We are pleased to deliver for shareholders an optimal corporate finance plan that blends debt and equity to reinforce accelerated growth at a lower cost of capital,” said Water Intelligence executive chairman Dr. Patrick DeSouza.
“The expansion of our credit facilities and launch of a relationship with M&T Bank, which has substantial additional capabilities, are very exciting.”
“Today’s bank transaction complements Q4’s expansion of our investor base with first-tier institutional funds.”
“We look forward to continuing to deliver strong results despite the volatility that currently characterizes the wider marketplace.”
“For the Group itself, market demand for water infrastructure solutions continues to be strong.”
IP Group shares were up 1.7% to 91.3p in early morning trading on Tuesday following the firm’s announcement that its portfolio company First Light Fusion had achieved world first fusion results with ‘projectile fusion.’
The project was independently validated by the UK Atomic Energy Authority (UKAEA), and harnessed the bespoke target technology produced by First Light.
The portfolio company reportedly spent less than £45 million on the project and said it holds a faster rate of performance improvement than any other fusion scheme in history.
First Light Fusion is also working towards a pilot plant which would produce 150 mega-watts of electricity and cost less than $1 billion in the 2030s.
The firm is working with UBS Investment Bank to explore options for the upcoming stages of its commercial and scientific development.
The IP Group added that it was optimistic that this project would see First Light Fusion double in value, and third-party valuation suggested that a doubling to quadrupling could be hit in the coming funding round.
The IP Group held an undiluted beneficial holding on 27.4% in First Light Fusion of 27.4% in December last year, amounting to £57.3 million.
“Following the success of Oxford Nanopore, Ceres Power and others, this is another example of IP Group having helped establish a business with the potential to have enormous impact and supporting it over many years to a significant inflexion point,” said IP Group CEO Greg Smith.
“In this case, we helped found First Light in 2011 with the belief that its differentiated technology had the potential to provide a much cheaper route to fusion energy.”
“Hitting the fusion milestone is a hugely important step on that journey and we’re delighted for the team at First Light and are extremely proud of their achievements.”
“We continue to have strong conviction in the Company and the potential its technology offers.”
Mining development and exploration company Greatland Gold announced drilling results from its 2021 drill programme at its Scallywag license on Tuesday. The assay results demonstrated widespread geochemical anomalism, indicating the presence of mineralising processes and validating the area’s development potential.
The results of the seven holes dug at four prospects, as well as the ground Electro-Magnetic survey, have been collected. The ground electro-magnetic investigations have discovered new conductor targets for drilling in 2022.
The drilling campaign and ground EM survey at Scallywag in 2021 were the second stage of a comprehensive exploration programme that began at Scallywag and included seven holes totalling 3,863m, testing the Swan, Barbossa West, Architeuthis and Teach targets.
Swan
Swan is made up of a strong, deep aerial EM conductor (A33) that is found in an interpreted fold structure with a corresponding gravity high that has evolved next to or truncated by structures in the Kaliranu Fault Zone.
Between 15 to 25 metres of transported sediments blanket the Swan area. Huge, dark, siliceous massive silty sandstone, quartzite, dominates the geology.
On the target, two observation holes, SWD001 and SWD002, as well as three lines of ground EM, were completed. A further 1.5 km east of Swan, hole SWD003 was bored to test an aerial EM anomaly.
The geology and geochemistry of drill holes SWD001, SWD002, and SWD003 were all promising.
Conductor plates were identified to the west and east of hole SWD001.
The Au-Bi-Te-Sb (Au-gold, Bi-bismuth, Te-tellurium, Sb-Antimony) abnormal intersections could be peripheral to higher-grade mineralisation associated with the new ground EM conductive plates.
The presence of several intervals of moderately intense quartz-carbonate veining, patches of sericite, hematite, and albite hydrothermal alteration, trace sulphides, anomalous Au and Bi-Te-Sb pathfinder metal geochemistry, and a possible supergene dispersion zone, all suggest mineralising fluids were active in the area.
The source of an airborne electromagnetic anomaly was not completely explained by drilling. Surface soil sampling will also be tried to see whether a source for the apparent supergene dispersion zone can be found.
Future limited conductor targets were located in the Swan area by recently completed ground EM surveying, which will be followed up with more drilling.
Barbossa West, Architeuthis and Teach
Four drill holes, one each at Architeuthis and Barbossa West, and two at Teach were used to test magnetic and structural targets that had been discovered beneath deep cover along the Scallywag Syncline.
All of the holes intersected the basement at depths ranging from 85 to 240m and achieved their target depths. Several zones of anomalous gold and pathfinder mineralisation have been discovered.
To help clarify the stratigraphy, drive geological understanding, and improve targeting, the drill hole logging and assay data will be reviewed again.
Scallywag Results
SWD001 at the Swan target intersected significantly anomalous Au with Bi-Te-Sb pathfinder geochemistry, including 2.6m at 0.19g/t Au from 35.4m and 3m at 0.19g/t Au from 430m in Swan hole SWD001, coupled with broad zones of substantially anomalous Bi-Te-Sb pathfinders.
Three more holes at the Swan and Barbossa West prospects yielded anomalous gold and pathfinders: 7m at 0.10g/t Au from 18m in Swan hole SWD003, 1m at 0.48g/t Au from 384m in Swan hole SWD002, and 1m at 0.20g/t Au from 296m in Barbossa West hole BWD001.
A ground EM survey was performed, revealing eight intriguing EM conductor plates in four targets, including two plates next to Swan hole SWD001 above, indicating probable higher grade mineralisation close to the anomalism discovered at Swan so far.
Outlook
More work needs to be conducted at Swan, especially in terms of drill testing of ground EM conductor plates to the east and west of the region. The upcoming tests of Swan have become a priority for the group and are planned for by the 2022 field program.
The 2022 exploration drill programme is meant to test ground EM conductors at Pearl, Swan and Swan East.
The use of surface geochemistry with Ultra Fine Fraction geochemistry is planned for appropriate sites.
The group will also continue the analysis of the 2020 airborne Electro-Magnetic survey to find other “Pearl-like” aerial EM anomalies for ground EM follow-up. The drilling results from 2021 and 2020 will also be analysed further and integrated into ongoing basin-wide geophysical and geological modelling to help guide future targeting.
Shaun Day, Managing Director, Greatland Gold, commented, “We are pleased with the results from the 2021 drilling campaign on our 100% owned Scallywag licence. Gold mineralisation has been intercepted in four of the seven holes reported, which is highly encouraging.”
“These results, together with identifying several new conductor targets from the ground EM programme and results from the 2020 work, increases our confidence regarding the prospectivity for intrusion related and other styles of mineralised systems at Scallywag.”
“In addition to identifying prospective drill targets for our 2022 drill program, this rich set of data builds our understanding of the regional and prospect scale geology as we continue to develop and refine our targeting strategy ahead of our 2022 exploration programmes.”
First Tin (LON:1SN) plans to join the standard list during April and it has launched an offer via Primary Bid that closes on 7 April ahead of the planned commencement of dealings on 8 April. There also plans for an ASX listing and a trading facility in Frankfurt.
The plan is to raise £20m - £18.1m after expenses – at 30p a share. This would value the company at £79.6m. Joint brokers are Arlington and WH Ireland.
First Tin is issuing 60 million shares to acquire Taronga Mines, which owns the Australian tin mining assets. It had previously acquired the German assets. That means that First Tin wi...
Increased levels of elective surgery and contributions from recent acquisitions have helped radiology services provider Medica Group (LON: MGP) to have a much stronger second half to 2021. Investment in technology is making the business even more efficient.
Revenues from elective surgery where slightly lower in the first half because of the effect of lockdowns and restrictions. The full year revenues improved from £12.5m to £17.3m as surgery activity built back to previous levels. Along with growth in the NightHawk emergency screening services business, this contributed to a doubling of UK ope...
There were 3 companies that had their AIM quotations cancelled in March, while Summerway Capital was readmitted as Celadon Pharmaceuticals (LON: CEL) on 28 March following the reverse takeover of Vertigrow Technology, which grows indoor hydroponic, high THC cannabis, which will be used for medicines to treat chronic pain.
Two companies were taken over and the other decided it wanted to leave AIM, although it has arranged an alternative matched bargains trading facility.
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7 March 2022
SEC Newgate
PR firm SEC Newgate decided that the AIM quotation was not going to be able to finance its glo...
As part of its global expansion strategy, ZOO Digital, the provider of end-to-end, cloud-based localisation and media services to the global entertainment industry, has announced the opening of ZOO Denmark on Monday.
The facility in Copenhagen will serve as ZOO’s Nordic hub for localization services, and it will contain a cutting-edge dubbing studio that is completely linked with the company’s cloud-based ecosystem.
ZOO Denmark provides clients in the entertainment business with a local base for Danish dubbing. An expanding network of dubbing talent will use the Copenhagen facility, helping to meet the industry’s capacity needs and supporting a considerable and extensive public demand for localised media in the region.
ZOO Denmark meets the highest technical requirements expected in media localisation as part of the ZOOdubs enabled network of recording and mixing facilities and is backed by the company’s end-to-end dubbing platform, ZOOdubs, to ensure consistent audio quality and security.
Content makers and recording artists have more freedom, choice, and scalability for dubbing projects with this consistency across in-studio and remote recording situations.
“Scandinavia is an important region for our clients, so we want to be right there with them – providing the choice, talent capacity and quality of services they’ve come to expect from ZOO,” said Stuart Green, Chief Executive Officer, ZOO Digital.
“ZOO Denmark also enables us to support our cloud-based dubbing network with an in-territory base as needed, offering greater flexibility and a modern approach to dubbing.”
“This is another important regional launch as we continue to scale and build capacity in key growth regions for our clients.”
The JPM Global Equity Income Fund will provide investors with stability in times of uncertainty through exposure to the world’s largest brands.
The tragic Russian invasion of Ukraine has sent waves through financial markets and will likely continue to cause uncertainty for months to come.
In such a period, investors may seek out those companies with reliable cashflows generated from resilient business models.
These characteristics are typically associated to the world’s largest companies – a focus of the team at JPM Global Equity Income.
The JPM Global Equity Income Fund has provided the highest returns for 1, 3, and 5 years amongst OEICS focused on the global equity sector.
JPM Global Equity Income Fund
The fund size is £185mn with a current yield of 2.07%, and their benchmark is the IA Global Equity Income index.
The JPM Global Equity Income Fund has consistently outperformed the IA Global Equity Income index. The funds’ 1 and 5-year returns were 13.5% and 65.6%, significantly higher than the IA benchmark of 8.3% and 35.2% over the same period.
Portfolio
JPM Global Equity Income Fund has invested mainly in the US, Europe, and the Middle East, excluding the UK and emerging markets with weights of 59.6%, 20.1%, and 6.2%. The fund has 3.2% of holdings in the UK.
Investors will be pleased to see that JPM Global Equity Income Fund has limited exposure to Russia and China and the volatility those markets are experiencing.
The fund has focused its investments in the technology sector associated with hardware and software with 11.4% and 6.6% holdings followed by banking and pharmaceuticals with 11% and 9.9%.
Microsoft has a weight of 4.9%, making it the top holding for JPM Global Equity Income Fund. Microsoft is a technology giant in the US whose shares remain stable. The company has a dividend yield of 0.8% and the shares have climbed by 354% in the past 5 years.
JPM Global Equity Income Fund has a 2.4% investment in McDonald’s, the global fast-food chain. McDonald’s has a dividend yield of 2.3% and has seen profits increase by 59% in 2021 to $7.5bn from 2020.
The fund includes the beverage giant Coca-Cola and has a holding of 3.9% in the company. The company has a dividend yield of 2.93% and shares have seen a 43% increase.
In addition, JPM Global Equity Income Fund has invested in Mastercard and Abbvie, to add to their diverse portfolio of income producing heavyweights.
CareTech shares rose 4.7% to 745p in early afternoon trading on Monday after the company reported a possible takeover offer from DBAY Advisors.
The care provider group confirmed that it received a non-binding indicative proposal from DBAY Advisors for a possible offer for the firm’s entire share capital, both issued and yet to be issued.
CareTech announced that DBAY Advisors recommended an offer price of 750p in cash per group share.
The firm mentioned that the proposal included a non-voting share “alternative offer” for shareholders to roll-over part of their investment to retain an interest in CareTech’s prospects beyond the potential acquisition, which the company confirmed would remain limited to up to 30% of issued capital.
CareTech said that discussions were currently in the early stages, and the group highlighted that could be no certainty that an offer would be made.
All conditions in the agreement for the acquisition of Media Management have been satisfied, and the acquisition of Media Management has now been completed, following the admission of 1,737,261 new ordinary shares in Ebiquity’s share capital to trading on AIM earlier this morning and compensation by the company for the balance of the initial consideration, both in accordance with the terms of the agreement for the acquisition of Media Management.
Total Voting Rights
The total number of Ordinary Shares in issue after admission will be 84,891,181, with each share carrying one vote.
To satisfy awards under the company’s share option plan, the Ebiquit Employee Benefit Trust holds 4,200,000 issued Ordinary Shares.
These share options have yet to be exercised, and the trustee has agreed to abstain from voting the Ordinary Shares it owns. As a result, 4,200,000 Ordinary Shares are not considered to have voting rights.
