AIM Breakfasts

AIM BREAKFAST – 19th December 2016

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 986

Total number of AIM Companies trading: 958*
* As at 16 December 2016

Dish of the Day:

Big Sofa Technologies Group (video analytics) IPO raising £6.1m  at 17p

Off the Menu:

No AIM Leavers Today

Set Menu ISDX Growth:

Total number of ISDX Growth Market Companies (Incl Susp): 85*

Total number of ISDX Growth Market Companies trading: 82*
* As at 16 December 2016

Dish of the Day:

No ISDX Growth Market Joiners Today

Off the Menu:

 No ISDX Growth Market Leavers Today

What’s Cooking in the IPO Kitchen?

Ultimate Products—The Telegraph reports Jim McCarthy, former chief of Poundland has been appointed Chairman of Ultimate Products ahead of a £100m listing in H1 2017. Ultimate Products owns the Beldray cleaning brand and the licence to sell Russell Hobbs and Salter electrical products in the UK.

Breakfast Buffet

NWF Group (NWF.L) 177.5p £86.3m

The specialist agricultural and distribution business delivering feed, food and fuel across the UK, announced a trading update for the half year ended 30 November 2016. Trading was weaker than the comparative half but has improved in Q2. The Board maintains its full year expectations in terms of performance and net debt levels. The acquisitions of New Breed, Staffordshire Fuels and Jim Peet made in the prior year have performed as expected and the mill expansion plans are being successfully delivered.  FY May 17E revs of £487.3m and £8.3m PBT.

Horizonte Minerals (HZM.L) 2.825p £33.1m

The nickel development company focused in Brazil, announced the issuance of a Request for Proposals to engage consulting firms to prepare a definitive Feasibility Study for the Company’s 100% owned Araguaia nickel project which is being developed as the next major nickel project in Brazil.  The RFP follows from positive economic results of the new Pre-Feasibility Study  released in October 2016 and the successful fundraise of £9 million approved by shareholders on 30 November 2016.

Collagen Solutions (COS.L) 6.13p £11m

HY Sep16 results from developer and manufacturer of medical grade collagen components for use in regenerative medicine, medical devices and in-vitro diagnostics.  Revenue and other income increased by 30% to £1.9m. Pre-tax loss of £983k vs 356k.  Cash and  equivalents of £1.67m (31 March 2016: £2.5m). Outlook looking to the long term. ‘While we are still early in the transformation and acceleration of the Company, I believe we have made prudent investments in our core business and the management team is focused on the right priorities for sustainable growth towards our goals for this fiscal year. In the longer term, I feel confident that our target of 5x revenue within 5 years is achievable, based upon the strategy that the management team is executing against.’

 

Bagir Group (BAGR.L) 4p £10.17m

The designer, creator and provider of innovative tailoring has announced a proposed placing of £1.97m at 3.5p by accelerated bookbuild. The proceeds are due to be invested in further development of the Ethiopian operations, including: –  new set up costs for a currently unused production hall to enable it to produce up to 3,000 trousers per day;-upgrading the current local market production hall through the purchase of new sewing equipment and general infrastructure; and for general working capital to support Bagir’s growth.  FYDec16E revs of £50.4m and £2.4m pre-tax loss.

 

Digital Barriers (DGB.L) 36.25p £59.86m

The specialist provider of visually intelligent solutions to the global surveillance, security and safety markets, has secured a $2.1 million contract for its unique ThruVis standoff threat detection camera. ThruVis delivers a level of performance and real world usability unlike any other solution on the market. It can be deployed in various settings, including transport terminals, stadia and event venues, to identify potential threats in real time without disrupting crowd throughput. In recent independent government testing, it proved 100 per cent successful in identifying suicide vests and weapons concealed under clothing. FYMar17E rev of £38.8m and £4m  pre-tax loss.

 

Tri-Star Resources (TSTR.L) 0.11p £9.32m

Update on the Oman Antimony Roaster (OAR).  The OAR is being constructed by the Company’s Omani joint venture company, Strategic & Precious Metals Processing LLC (SPMP).  Tri-Star has a 40% equity interest in SPMP. SPMP has been pleased with responses from potential suppliers of feedstock and has been conducting bulk commercial trials with concentrates containing both antimony and gold.  Additional resources have been added by SPMP to the project team and Tri-Star is confident that the OAR remains on course for commissioning by the end of 2017, as previously advised.

 

San Leon Energy (SLE.L) 45p £239.2m

The Board of San Leon notes the takeover speculation regarding San Leon in the weekend press.  The Board of San Leon confirms that it has received an approach from a possible offeror, which may or may not lead to an offer being made for San Leon.

 

Atalaya Mining (ATYM.L) 127.5p £149m

Nameplate capacity of 9.5Mtpa was achieved during December 2016 at its 100% owned Riotinto Copper Project (Proyecto Riotinto), located in Andalucía, Spain.  The plant reached nameplate capacity during a single run of ten consecutive days during the early part of December, treating an average of 28,685 dry metric tonnes per day and achieving design recoveries and concentrate grades. After normal, scheduled maintenance and plant availability parameters are considered, the current treatment rates are enough to give comfort that the planned 9.5 Mtpa will be achieved during 2017.  Production guidance for 2017 is forecast to be in the range of 34,000 – 40,000 tonnes of copper, sufficient to generate positive cashflow at current prices.

 

Malvern International (MLVN.L) 3.5p £3.23m

The provider of educational services in the UK, Europe and Asia, announced its strategic plan for 2017. The focus will be on strengthening the current operation while planning for the future. Work is underway to improve and expand both the delivery and range of products and services offered by the Group. At the same time measures are being taken to improve the Company’s administrative procedures and processes to ensure that it has a robust system that goes beyond the various regulatory compliance requirements and that can support the future growth of the business efficiently and productively.

 

ProPhotonix (PPIX.L) 5.12p £4.29m

The high technology designer and manufacturer of LED illumination systems and laser diode modules, with operations in Ireland and the United Kingdom, announced that its results for the year ending 31 December 2016 are expected to be ahead of market expectations with revenue forecast to be approximately $16.0 million and operating income of approximately $1.3 million.

 

Head Chef:

Derren Nathan
0203 764 2344
derren.nathan@hybridan.com

*A corporate client of Hybridan LLP

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