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Proactive news summary featuring Tungsten, Gemfields, Nanobiotix, MoPowered, CentralNIC, Forbidden Tech, Statpro, Magnolia Petroleum, Providence

Published: 01:20 23 Sep 2014 AEST

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Tungsten (LON:TUNG), the electronic invoice specialist, said it traded ahead of budget in the first four months of the new financial year.

It revealed July was the company’s busiest month and said the group now has 171,000 registered suppliers.

‘Significant’ multi-national buyers such as GE, British American Tobacco and most recently global healthcare leader Sanofi have selected Tungsten to help automate their accounts payable department.

Gemfields (LON:GEM) first ruby auction contributed to a spectacular rise in revenues last year for the coloured gems specialist.

A tremendous performance from the core emeralds business, where revenues hit a record high, was augmented by the receipts from the inaugural auction of Gemfields' Mozambican rubies.

Revenue in the year ended 30 June more than tripled to US%160.1mln from US$48.4mln, propelling the company into the black, with profit before tax of US$37.0mln versus a loss the year before of US$19.8mln.

Underlying earnings (EBITDA) rose to US$59.3mln from positive EBITDA of US$1.2mln the year before.

Shares in another junior miner, Herencia (LON:HER), advanced after revealing it has a second option to process copper from its Picachos Project in Northern Chile.

It has signed an agreement for the sale or treatment of ore with the owners of the Minera China processing plant, 30km away from the Picachos deposit. Herencia said it is structured ‘along similar lines’ to the MOU with the Tambillos copper processing plant announced last week.

Elsewhere, Nanobiotix (EPA:NANO), the French technology firm pioneering a breakthrough in the field of radiotherapy, said it is setting up shop in Boston as well making a senior appointment to lead the new operation.

The area around the American city is one of the world’s centres for life sciences, as well as being home to world leading universities such as Harvard and MIT.

Nanobiotix chief executive Laurent Lévy said: “The Boston area is the ideal location for us to access new talent, innovative research and clinical expertise in the nanomedicine.” The company has appointed Patrick Tricoli, a 25-year veteran of the pharma industry, to lead the US push.

Motion tracking specialist Seeing Machines (LON:SEE) has extended its relationship with off-road vehicle giant Caterpillar into trains.

Caterpillar is already using Seeing Machine's eye-tracking Driver Safety System (DSS) in its mining vehicle cabs. 

Now, the rail subsidiary Electro-Motive Diesel (EDM) has agreed a three year collaboration deal with Seeing Machines to develop the use of its fatigue monitoring systems for trains.

MoPowered (LON:MPOW), which has developed a software platform for online retailers, has conditionally raised around £3.5mln via a placing and subscription to strengthen the balance sheet and accelerate growth.

CentralNIC (LON:CNIC) has decided that a US$1.62mln investment in Accent Media is just the ticket.

The company revealed last week that it was on the verge of investing in a registrar that was awaiting the results of an application for the rights to a generic top level domain (gTLD) - the bit after the final dot in a web address.

That company has now been revealed as Accent Media, following Accent's successful application for registrar rights over the .tickets TLD.

The Forbidden Technologies (LON:FBT) team is back from what sounds like an exhausting but satisfying stint at the International Broadcasting Convention (IBC) – it was the most successful show ever organised by the IBC, and attracted a total of 55,092 attendees from more than 170 countries.

The show marked the tenth anniversary of the launch of Forbidden's Forscene Cloud video platform, and Forbidden's stand was double the size of previous years, reflecting both the group's higher profile and the growing acceptance of the Cloud as fundamental to the broadcast industry.

Dr Ian Thompson has been hired as client integration director at StatPro (LON:SOG), the provider of analytics software for the investment industry. He will work closely with the product development teams to provide a smooth transition to the StatPro R+ and StatPro Revolution products.

In AIMs oil sector, Magnolia Petroleum (LON:MAGP) shares rose over 5% in early deals as it reported a 93% increase in first half revenue and expects further "excellent" growth to come.

Providence Resources (LON:PVR) confirmed a 3D seismic programme has now been completed over the Drombeg oil prospect in the southern Porcupine basin, off Ireland’s west coast. Over a 73 day period, the Polarcus Amani vessel captured data from a 4,300 square kilometres covering Drombeg and the surrounding area.

It is part of a broader seismic programme which will also include 6,600 kilometres of 2D seismic which is expected to provide a regional context for what is deemed a new exploration frontier.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

12 hours, 59 minutes ago