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Breakfast News - Emmerson; MaxCyte; Jangada Mines

Breakfast News - Emmerson; MaxCyte; Jangada Mines

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*as at close of business  09 November 2018

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*as at close of business 09 November 2018                        

*A corporate client of Hybridan LLP

**  Standard Listing as defined by Hybridan LLP to be a business with strictly operational activity


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Lionsgold has left AIM under AIM rule 41 although intends to seek re-admission in due course.        

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Mission Marketing Group (LON:TMMG) 55.5p £46.8m

The technology-embraced marketing communications and advertising group, announced that it has today sold its BroadCare business to Carehome Selection Limited, part of the CHS Healthcare group for £4.4m in cash.

Given its specialist nature and the constraints in moving the appeal of the software beyond its current Client base, the Board concluded that BroadCare was non-core to the Group's main activities and better suited to an organisation already providing a wide range of services to the NHS.

In the year ended 31 Dec 2017, BroadCare, which is run by Nicola Joyce, provided a profit contribution to the Group of £0.5m. 

FYDec18E rev £78.7m, PBT £9.4m, div 2p.

High Growth Capital  (HASH:NEX)  1.275p £37.1m

Christopher Fong will be appointed as CEO of the Company, conditional on completion of satisfactory due diligence. Chris (53) has 30 years of experience working across both public and private sectors. He began his career in Australia working on regional media and activation campaigns for Philip Morris. In 1992 he joined the Yellow River Network, Asia's largest production services facility. YRN controlled a network of music & film production, visual effects and animation companies including Singapore's first broadcast uplink satellite facility. Chris later established Renaissance Films and Evolution, a boutique film production and VFX company, with operations in Singapore, Malaysia and Indonesia.  The Company’s Investment Strategy will be to initially effectively become a UK, Canadian and Australian-focused medicinal cannabis and related products’ index tracker and investor.

NQ Minerals  (NQMI:NEX) 11.25p £36.1m

NQ  has successfully produced from its Hellyer polymetallic operation in Tasmania, Australia its first lead, gold and silver concentrate lot, and delivered it to Traxys Europe SA under a standing offtake arrangement signed in Aug 2018; 

Payment from Traxys has been promptly received, which inaugurates the first operational cash flow generated by Hellyer operation since it started its production in Sept 2018.

“This now represents the start of positive cash flow at Hellyer for at least the next 10 years. Again, we are very proud of the management and team at Hellyer, and the efforts made to move the low risk and low cash cost project into production. The cash flow will certainly provide many opportunities for Hellyer over the next ten years."

AFH Financial (LON:AFHP) 393p £165m

FYOct18 trading update from the financial planning led wealth management firm.

Revenues for the year expected to exceed £50m, up 49% (2017: £33.6m), driven by integration of acquisitions made during the year, continuing progress of previous acquisitions and higher average levels of revenue generated by existing advisers. Continued expansion of EBITDA margin, reflecting operational gearing

Funds under Management reached £4.5bn in Oct 2018 (2017: £2.8bn)

Trading for the full year in line with current market expectations

Board remains confident of the Company's prospects and achieving its stated objectives of revenues of £75m, underlying* EBITDA margin of 20% and £5bn Funds under Management.

FY Oct 18E rev £49.5m, PBT £10.1m.

Jangada Mines (LON:JAN) 2.5p £5.9m

The “natural resources company developing South America's largest and most advanced platinum group metals ('PGM') project, announced a substantial reduction in the preliminary capital expenditure, as a result of the creation of an updated process flowsheet in partnership with Consulmet Metals (Pty) Ltd, for its Pedra Branca PGM project, in the north-east of Brazil.

Pedra Branca currently has a JORC (2012) compliant resource of approximately 1.45 million ounces of PGM+Au at a grade of 1.3g/t PGM+Au (2.5 g/t Pd Eq), 140 million pounds of nickel, 26 million pounds of copper and 6.7 million pounds of cobalt.”

Northern Bear (LON:NTBR) 79p £14.6m

The family of businesses  <> provides specialist building services to local authorities, housing associations, NHS trusts, universities, construction companies and national house builders throughout Northern England and beyond.

Revenue of £28.6m (2017: £27.2m)

Operating profit of £1.7m (2017: £1.4m)

PBT of £1.6m (2017: £1.3m)

Basic EPS of 6.9p (2017: 5.9p)

Cash generated from operations of £2m (2017: £0.9m)

Net bank debt of £0.3m at 30 Sept 2018 (31 March 2018: £0.8m; 30 Sept 2017: £0.6m)

“The results for the Period were exceptionally strong and we continue to hold a high level of committed orders. The Board considers the outlook for trading in the second half of the year to be very good and we hope to report another strong set of results for the full financial year.”

Transense Tech (LON:TRT) 44p £5.3m

“The provider of sensor systems for the industrial, mining and transportation markets, announced that Translogik, its trading division providing tyre management solutions, has won a contract to supply 24 iTrack II mining tyre monitoring systems including the full suite of Data Analytics for large haul trucks at Southern Copper's Cuajone mine in Peru.

These systems are to be supplied on a subscription model basis. This method allows mining companies to benefit from the productivity gains and overhead savings provided by using the system without any of the associated capital cost while providing Transense with a recurring revenue stream.”

MaxCyte (LON:MXCT) 198p £100.8m

The “global cell-based medicines and life sciences company, announced today that it has entered into a research agreement with Kite, a Gilead Company. Under the terms of the agreement, Kite will use MaxCyte's Flow Electroporation® Technology platform to enable non-viral cell engineering.”

"We're excited to provide Kite the ability to leverage our versatile cell engineering platform to enable gene-editing technologies for research and development of important new therapeutics," said Doug Doerfler, President & CEO of MaxCyte, Inc. "This agreement further underlines MaxCyte's position as a leader in non-viral cell engineering for cell therapies."

Emmerson (LON:EML) 3.5p £21.9m

“The Moroccan focused potash development company, announced that it has completed the preliminary design and cost estimates for the port upgrade necessary to allow the export of potash product at the Port of Mohammedia from the Company's 100% owned Khemisset Potash Project located in northern Morocco. This work has been completed by independent Moroccan engineering consultant, Sigma Plus, a sub-consultant, as part of the forthcoming Scoping Study which is due to be released in the near-term. The completed estimates have confirmed the potential for further significant capital cost savings for the Project.

In an update to previous guidance, the Company now expects the Scoping Study to be published in Q4 2018, well ahead of schedule.”

Total budgeted cost for construction of port upgrades is approximately $7.5m including a 30% contingency

Allied Minds (LON:ALM) 63.09p £151.6m

“Allied Minds portfolio company, Spin Memory, Inc., the leading MRAM developer formerly known as Spin Transfer Technologies, Inc., today announced its $52m Series B funding round, and entry into a commercial agreement with Arm for the licensing of Spin Memory's Endurance Engine design IP to address static random-access memory (SRAM) applications, and a commercial agreement with Applied Materials, Inc. to create a comprehensive embedded MRAM solution.”

The fundraise was completed at a pre-money valuation that is the same as the valuation included in Allied Minds' OAV stated at our H1 2018 results. Following the completion of the second closing of the transaction, Allied Minds' ownership of Spin Memory's issued share capital is expected to be 40.88%.



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