Cora Gold leads small cap risers as it boasts "exciting high grade results"

By Jamie Ashcroft / May 01, 2018 / www.proactiveinvestors.co.uk / Article Link

Africa focussed explorer Cora Gold Limited (LON:CORA) soared some 33% higher after revealing what the company described as "exciting high grade results" from drilling at the Tekeledougou project area in Mali.

Mobile-commerce group ATTRAQT Group plc (LON:ATQT) saw its shares 11% higher with the news of a new chief executive appointment, with Luke McKeever joining later this month, additionally, a regulatory statement confirmed the holdings of Lombard Odier Asset Management.

Management Consulting Group PLC (LON:MMC) shares fell back more than 21% as it released financial results for 2017 which included the admission that "additional change and investment" would be needed to advance the transformation launched by the company last year.

"Due to the uncertainty regarding the timing of potential claims under the various disposals carried out in 2015/6 and the longer time frame to execute the turn round in Proudfoot, we will look to raise additional finance to ensure that we can complete the changes in Proudfoot and deliver value to shareholders," MMC chief executive Nick Stagg told investors.

Similarly, Imaginatik Plc (LON:IMTK) shares slipped 12% lower following a trading update which informed investors that "it may become necessary to seek additional funding" whilst a process to formally sell the company is progressed.

Stem cell specialist WideCells Group Plc (LON:WDC) lost half its value, after it revealed that discussions with its financial advisers with a view to a fundraising have taken longer than originally anticipated.

As a result, the company had to delay publication of its annual financial statements for the year ended 31 December 2017.

9:30am: Just Eat, Virgin Money and Pipehawk among Tuesday's early risers

Just Eat Plc (LON:JE.) advanced around 5% in Tuesday's early deals after it revealed an impressive first quarter,

The app-based takeaways ordering group delivered a 49% jump in first quarter revenue as an earlier Easter and the acquisition of Hungryhouse boosted orders. The online takeaway food company said revenue in the three months to March 31 rose to ?177.4mln from ?118.9mln a year ago as total orders increased 32% to 51.6mln.

In the UK orders grew 24% to 29.7mln, supported by orders during the Easter holiday weekend and a contribution from Hungryhouse following the completion of the acquisition at the end of January.

Richard Branson's banking venture Virgin Money Holdings (UK) Plc (LON:VM. gained 3.59% after updating on the first quarter, revealing a 10% increase in mortgage balances despite tough competition in home ending.

Virgin Money maintained its full year guidance.

On the AIM-market, life science group OptiBiotix Health plc (LON:OPTI) climbed around 6%, to 73.10p, as it highlighted media interest generated by a potential commercial partner, Seed Health.

Optibiotix pointed out that Seed has purchased its LP-LD product for use in a multi-strain product, intended for launch in the US in May 2018, and that an article in Business Insider US referred to clinical studies published in the scientific journal PLOS One - which showed one of the probiotics contained in the product reduced "bad" cholesterol and increased "good" cholesterol.

Engineering minnow PipeHawk plc (LON:PIP) saw its shares more than double, rising 127% in early deals, after it confirmed what it described as 'significant' new business, landing contracts that it had previously hoped to get.

Proactive news headlines:

OptiBiotix Health plc (LON:OPTI) saw its shares jump on Tuesday after the life science firm noted media interest generated by a potential commercial partner, Seed Health. In a statement, the AIM-listed firm - which is developing compounds to tackle obesity, high cholesterol, diabetes and skin care - pointed out that Seed purchased its LP-LD product for use in a multi-strain product intended for launch in the US in May 2018.

Kromek Group PLC (LON:KMK) said it expects to report revenue growth in its full-year results as new and previous contracts boosted earnings. In a trading update ahead of its results, the AIM-listed provider of radiation detection equipment said it expected its underlying earnings (EBITDA) to break even, in line with market expectations, as it saw a growth in sales through executing both previously-signed agreements as well as new high-value contract wins during the year.

Union Jack Oil PLC (LON:UJO) financial results for 2017 reflect a year of "considerable progress", that's according to executive chairman David Bramhill. The onshore UK oiler has continued to grow its portfolio, both during and after the reporting period, and, Bramhill described himself as "enthusiastic" about the future.

WideCells Group PLC (LON:WDC) said publication of its annual financial statements for the year ended 31 December 2017 has been delayed pending completion of the audit process and will be later than the required publication date of Monday 30 April 2018. In a statement, the healthcare services company focused on providing stem cell services noted that it has been in discussion with its financial advisers with a view to a fundraising, in the absence of which the group is at risk of not being able to continue trading as a going concern.

SkinBioTherapeutics PLC said it has finalised plans for human study of cosmetic application of its SkinBiotix treatment while announcing progress with the manufacturing scale-up of the product. The former first: the assessment of 120 female volunteers with dry skin will take place in the third quarter with testing being carried out by clinical research firm Alba Science. This study is double the original size.

E-therapeutics PLC (LON:ETX) and C4X Discovery Holdings plc (LON:C4X) are to pool their knowledge to try to find a treatment for Parkinson's Disease.

ATTRAQT Group plc (LON:ATQT) has announced the appointment of Luke McKeever as its chief executive officer, with interim executive chairman Nick Habgood to revert back to his former non-executive role. The AIM-listed online merchandising, onsite search and eCommerce personalisation provider said McKeever will join the Group on 21 May 2018 and will take over the reins from Hapgood following a short handover period.

Symphony Environmental Technologies plc (LON:SYM) said it has signed a collaboration and strategic investment agreement with French company Eranova SAS. The AIM-listed biodegradable plastics maker said Eranova has developed a technology which extracts starch from algae for use with other materials. The starch can be combined with other polymers to produce compostable and biodegradable resin.

Fertility aid manufacturer Concepta PLC (LON:CPT) believes it has sorted the supply side problems in China that hit its numbers in 2017.

 Harry Potter publisher Bloomsbury Publishing PLC (LON:BMY) has strengthened its presence in the academic book market with the acquisition of IBT Tauris.

Motif Bio Plc (LON:MTFB, NASDAQ:MTFB) said the results of its REVIVE-2 phase III clinical trial of its lead drug iclaprim have been published in the peer-reviewed journal Antimicrobial Agents and Chemotherapy. The next-generation antibiotic was used to treat acute bacterial skin and skin structure infections (ABSSSI) and was found to be as effective (the term is non-inferior) to the current standard of care, a drug called vancomycin.

HemoGenyx Pharmaceuticals PLC (LON:HEMO) chief executive Dr Vladislav Sandler described 2017 as a "significant year" after the company listed on the market and inked a collaboration with Oxford University. But perhaps the most exciting development occurred after the period-end as the company was able to show that its CDX antibodies can attack and eliminate acute myelogenous leukaemia.

Nasstar Plc (LON:NASA) saw narrowed losses and improved margins in its full-year results as its "Nasstar 10-19" strategy began to bear fruit. The AIM-listed IT services provider reported a reduced loss before tax of ?1.2mln from ?1.8mln the year before on revenues of ?24.5mln, up from ?18.7mln previously.

Chaarat Gold Holdings Ltd (LON:CGH) has outlined in more detail the terms of its potential acquisition of the Kumtor mine in Kyrgyzstan. Chaarat will offer US$400mln in cash, to be funded by debt and equity as well as organising for the return of US$400mln in shares to the current owner of Kumtor, Centerra Gold (TSE:CG). That US$800mln valuation represents a 30% premium on the value placed by Centerra on Kumtor, according to Chaarat's reading of Centerra's financial statements. Separately, Chaarat has also started drilling at its Tulkubash project, and has already intersected mineralisation.

The recent A$5.7mln fundraising undertaken by Metminco Ltd (LON:MNC) will go in pary towards exploration on the Tesorito prospect on the Quicnhia project in Colombia. The company has also initiated discussions with Anglogold Ashanti in relation to a farm-in or joint venture deal at Chuscal, also part of the Quincha project.  Meanwhile, Metminco has also made advances in the permitting process for the Miraflores gold project. A plan of work was submitted in January.

Rambler Metals and Mining PLC (CVE:RAB) (LON:RMM) generated revenues of US$28.3mln in the year to December 2017, up from the US$28mln booked in the corresponding period a year ago. Fourth quarter sales rose to US$8.4mln, up from US$7.3mln in the third quarter and US$5.4mln in the corresponding quarter in 2016. Big Pic in April.

W Resources PLC (LON:WRES) told investors that it has kicked off a new drill programme at the S??o Martinho gold project in Portugal. The company will now carry out five weeks of reverse circulation drilling, comprising fifteen holes or 2,000 metres.

Vast Resources PLC (LON:VAST) has signed a Memorandum of Understanding with Botswana Diamonds PLC (LON:BOD) to investigated diamond opportunities together in Zimbabwe. Under the terms of the MoU the two companies have agreed to exchange information derived from past exploration on areas prospective for diamonds in Zimbabwe and to form a special purpose jointly owned company.

Premier African Minerals Ltd (LON:PREM) has accepted the general offer made by Arc Minerals Ltd (LON:ARCM) to all shareholders of CASA Mining Limited. Premier has thereby converted its entire interest in Casa into new Arc Minerals shares.  Premier will end up with a 1.9% stake in Arc.

Cabot Energy PLC (LON:CAB) has told investors that non-executive chairman John Murphy intends to step down, once a successor has been found. Murphy has held the position since September 2013.

Primary Health Properties PLC (LON:PHP), one of the UK's leading investors in modern primary healthcare facilities, has announced the appointment of Peter Cole as an independent non-executive director of the company. Cole is the chief investment officer of Hammerson PLC (LON:HMSO), the FTSE listed owner, manager and developer of retail destinations in the UK, Ireland and continental Europe.

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