The Kitchen is empty.
Andrada Mining 5.9p £90.7m (ATM.L)
An African technology metals mining company with a portfolio of mining and exploration assets in Namibia announces that it has produced lithium concentrate in the form of a high purity petalite concentrate consisting of 0.5 tonnes of petalite at 85% purity assayed at 4.16% Li2O. Potential offtakers have indicated that this concentrate composition represents a desirable lithium product. Construction of an on-site lithium pilot plant is on schedule with completion due during June 2023, and commissioning expected in July 2023.
Coro Energy 0.18p £5.0m (CORO.L)
The South East Asian energy company with a natural gas and clean energy portfolio announces its final results for the year ended 31 December 2022. Coro resumed and increased gas production from its Italian onshore operations to benefit from the rise in gas prices in Italy resulting in a profit of US$ 2.6m for the year and a cash benefit to the Group. The Group continued its progress toward commercialising the Mako gas field and is progressing its planning and permits for both renewable solar and wind projects in the Philippines.
Cora Gold 3.8p £14.1m (CORA.L)
The West African focused gold company announces its final audited results for the year ended 31 December 2022. Ahead of construction, Cora's Sanankoro Gold Project highlighted several milestones including: updated Mineral Resource Estimate (MRE) provided a 14% increase in total MRE ounces for 24.9 Mt at 1.15 g/t Au for 920 koz, optimised project economics, which included: 52.3% internal rate of return, 1.2-year payback period, US$71.8m first full year free cash flow (FCF) and US$234m FCF over the life of the mine. The mine is set to start in 2023.
Ilika 43p £68.1m (IKA.L)
A developer in solid-state battery technology provides an update on trading, Stereax® manufacturing, and Goliath product development. The Company expects to announce revenues of approximately £0.8m (2022: £0.5m), and an EBITDA loss of £7.0m (2022: EBITDA loss of £6.4m). Ilika has been improving process yield and qualifying initial product batches of their Stereax M50 cells and has released its first customer shipment in April 2023. Product development of Goliath, Ilika's large format battery for electric vehicles and consumer appliances, has continued to progress to schedule. The Group is trading in line with management expectations.
Kinovo 50p £31.1m (KINO.L)
The property services Group that delivers compliance and sustainability solutions announces the following contract wins. As announced on 22 February 2023, the Company was awarded a new contract worth £12m over five years by The Hyde Group (Hyde). This contract now offers the potential to deliver £40m over the next eight years. Kinovo has also been awarded two further contracts with existing clients; one with the London Borough of Barnet undertaking mechanical work with a value of £1m over seven months and the other for the Royal Borough of Greenwich, with a value of £1m over a year.
Norman Broadbent 5.88p £3.6m (NBB.L)
A quoted Executive Search and Interim Management firm offering a diversified portfolio of integrated Leadership Acquisition & Advisory Services announces its Quarter 1 2023 trading update. Revenue up 67% to £2.92m (Q1 2022: £1.75m), net fee income up 66% to £2.43m (Q1 2022: £1.46m), and 4 additional fee earners hired in Q1 2023 covering Digital and Technology, Investor Practice, Industrial Automotive and Change and Transformation. The Company aims to grow over the coming years in a sustainable fashion.
Oncimmune Holdings 39.1p £29.0m (ONC.L)
The global immunodiagnostics group announces that it has sold its wholly-owned subsidiaries, Oncimmune Limited (including the CE-marked IVD EarlyCDT® Lung blood test, antibody platform and research and development pipeline) and Oncimmune Europe GmbH to Freenome Holdings, Inc. for a total of £13m in cash. The Board has been considering several options for the realisation of value from non-core assets and is focusing its corporate strategy on the development and growth of its pharma services offering through the acquisition of the ImmunoInsights Business.
Quadrise 1.25p £17.6m (QED.L)
The supplier of innovative energy solutions for a cleaner planet, provides an update on its fuel trial in Morocco. Quadrise personnel at the client site confirmed the MSAR and bioMSAR fuel quality and fully commissioned the Company's pumping and heating unit at load. The cold start-up of the combustion unit was carried out, but unfortunately, whilst running at 100%, a mechanical component in the PHU failed progressively, reducing the available unit load achievable from the Quadrise burner. The parties agreed to pause the trial such that the part could be replaced. The Company looks forward to returning and completing the test fully during the next production run with its team.
Yourgene Health 0.22p £7.0m (YGEN.L)
The international molecular diagnostic group announces the reappointment of Dr. Joanne Mason, Chief Scientific Officer, as a Director of the Company with immediate effect. Dr. Mason has been leading the development of Yourgene's next generation molecular diagnostics, in particular in the area of reproductive health, helping the Company deliver on its new product roadmap and commercial success.
Zinc Media Group 112.5p £24.5m (ZIN.L)
The television, brand and audio production group announces that it is partnering with Idris Elba's Green Door Pictures and Sabrina Elba's Pink Towel to make PAID IN FULL: The Battle for Payback (working title) for public broadcasters CBC (Canadian Broadcasting Corporation) and the BBC. This multi-million-pound international co-production series is commissioned by CBC and the BBC, and funded and co-produced by a partnership between Abacus Media Rights and Media Musketeers Studios. The Board are proud to be working with Idris Elba and Sabrina as Executive Producers to showcase this documentary.
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The information contained in this document is based on materials and sources that are believed to be reliable; however, such information has not been independently verified and therefore it is not possible to confirm such information as being accurate. This document is not intended to be a complete statement or summary of any securities, markets, reports or developments referred to herein. No representation or warranty, either express or implied, is made or accepted by Hybridan LLP, its members, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information contained in this document, nor should it be relied upon as such.
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