Digital Look Sharecast | 17 Feb, 2017 15:57 - Updated: 21:15 | | |
Shares in Brave Bison fell after the online video and marketing firm warned that revenue in 2017 will be “substantially lower” than 2016 due to two material contract losses at the end of last year and the potential discontinuation of certain low margin business.
It said that the lower revenue is a continuation of the trend it saw in the second half of 2016.
Herencia Resources confirmed on Friday that, following “prudent cash management” and an ongoing working understanding with creditors, it believes its working capital position remains satisfactory until the end of February.
The directors of the AIM-traded firm said they remained in discussions with major shareholders to provide further funds to meet Herencia's working capital needs and to progress the development of the Picachos copper project.
Cambria Africa confirmed the result of its open offer and the conversion of VAL's loan into Cambria ordinary shares on Friday, having initially announcing the offer to qualifying shareholders on 28 November in a bid to raise up to £1.25m.
The AIM-traded company said the open offer closed for applications on 15 February, and said valid applications were received for 15,918,606 new ordinary shares, raising £159,186.06.
Asa Resource Group
Asa Resource Group posted an update on operations and exploration activity for the quarter to 31 December on Friday, with old production and sales 3% lower at Zimbabwe’s Freda Rebecca Gold Mine, at 15,365oz.
The AIM-traded firm said revenue at the mine decreased by 14% to $18.4m on a lower gold price, although its all-in sustaining C3 costs also decreased by 5% to $1,055/oz.
Landore Resources posted the maiden mineral resource estimate and report for the BAM East Gold Deposit on its Junior Lake Property, Ontario, Canada on Friday.
The AIM-traded company confirmed a 301,000 ounce gold maiden resource estimate for the deposit, with a time frame of one year from discovery to estimate.
Printed circuit board laminate and LED solutions supplier Holders Technology announced its audited results for the year ended 30 November on Friday, saying both its PCB and LED segments achieved modest revenue growth in the year, with margins maintained.
The AIM-traded firm said PCB overheads were reduced, while LED overheads increased due to additional sales recruitment, and the result before restructuring and impairment costs was somewhat behind 2015.
Shares in Metal Tiger are down more than 16% despite it confirming the discovery of an "exciting new zone of mineralisation" beneath the T3 Resource, in Botswana's Kalahari Copper Belt.
"We think that this new discovery has the potential to significantly improve the dynamics and economics of the T3 Deposit," said chief executive Michael McNeilly, referring to the joint-venture project with partner MOD Resources.
Shares in Tern are up more than 6% as it swung to an annual pre-tax profit in 2016 -- helped by a handsome uptick in the fair value of investments -- in what it described as a "pivotal" year.
Pre-tax profit was £5.3m, from a loss of £185,121. Tern also recorded a £5.8m rise in the fair value of its investments, from 363,492. Net assets were £11.2m, from £1.7m.
African agricultural company Agriterra announced its results for the six months to 30 November 2016 on Friday, with revenue from continuing operations falling to $8.1m from $9.4m year-on-year.
The AIM-traded firm posted a gross profit of $0.82m, down from $1.47m, although thanks to a larger profit on the disposal of property, it narrowed its operating loss to $0.77m from $1.55m.
AIM-listed explorer Ithaca Energy has started production at its Stella oil field in the North Sea.
The company said that production has been started from the field along with oil exports to the adjacent shuttle tanker.
Driver Group’s revenue for the 2016 financial year revenue increased but the company swung to a loss as it implemented a recovery plan.
Meanwhile, the construction company is also aiming to raise £81m through an accelerated bookbuild in order to “normalise the capital structure of the business”.
London stocks edged lower in early trade on Friday after North Korea reportedly threatened to test a hydrogen bomb over the Pacific and as investors awaited a key speech by Prime Minister Theresa May.
Kim Jong-un has responded to Donald Trump's recent threats where the latter said he would "totally destroy" North Korea if the US or its allies were attacked.
Smiths Group reported a small decline in full year underlying revenue but 11% growth on a reported basis thanks to the weak pound and said strategic progress made in the year set it up to return to growth next year.
Oil rig builder Lamprell posted a drop in first-half revenue on Friday as it warned that revenue for 2018 would be 10% lower on the year.
Specialist provider of products and services for those over 50, Saga, reported “consistent growth” of 5.5% in its underlying profit before tax for the first half on Friday, to £110.2m.
London stocks were set for a weaker open on Friday, taking their cue from downbeat sessions in the US and Asia after North Korea reportedly threatened to test a hydrogen bomb over the Pacific Ocean.
Tanzanian gold miner Acacia Mining said its third mine in the country is likely to start generating cash again after positive results from a trial to increase the proportion of sellable gold bars.
North Korean leader Kim Jong-un Friday mocked Donald Trump as "mentally deranged" – and warned he will make the US president "pay dearly" for threatening the destruction of his country at the United Nations. Then hours later Ri Yong Ho, the North Korean foreign minister, raised the stakes suggesting Pyongyang could consider a hydrogen bomb test on the Pacific Ocean of an unprecedented scale. - Telegraph
Stocks finished lower on Thursday, as traders tried to work out the implications of the US central bank's policy announcement on Wednesday, despite a raft of better-than-expected readings on the economy.