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Breakfast News -AIM Breakfast : Botswana Diamonds, Stellar Diamonds, Tlou Energy and others

Published: 20:10 24 Oct 2017 AEDT

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What’s cooking in the IPO kitchen?

AIM

AfriTin Mining—Demerger from Bushveld Minerals (BMN.L). Offer TBA. Due 6 Nov. The Uis Tin project (Namibia) is considered the flagship tin asset within the portfolio, as this was once the largest open cast tine mine of its kind in the world .

Novacyt S.A.—Sch1 from the international diagnostics group, generating revenues from the sale of clinical products used in oncology, microbiology, haematology and serology testing. Offer to raise £8.8m at 59.38p with a value of £22.4m. Expected 01 Nov.

Footasylum Ltd—UK-based fashion retailer focusing on the branded footwear and apparel markets announced its intention to seek admission to AIM. Expected value between £130m and £150m. Due Nov 2017.

Central Asia Metals (LON:CAML) -RTO of Lynx Resources. Anticipated market capitalisation at Admission: £404.8m. Raising £113m at 230p. Acquiring the SASA zinc-lead mine in Macedonia from Solway Industries. Due 15 Dec.

OnTheMarket—Intention to float on AIM to raise c.£50m which will be used to fund the growth of the OnTheMarket.com portal, already the third biggest UK residential property portal provider. Expected valuation £200m to £250m.

Orogen plc, to be renamed Sosandar plc on Admission. Sosandar is an online womenswear brand specifically targeted at a generation of women who have graduated from younger online and high street brands, and are looking for affordable clothing with a premium, trend-led aesthetic. Offer to raise £5.3m with market cap of £16.1m, expected 2 November 2017

OG Graphite, brownfield development-stage graphite company focused on the reactivation of its wholly-owned Kearney natural flake graphite mine and mill located 280 km north of Toronto, Canada. Offer TBA, expected late October .

Main Market Premium Listing

Arqiva Group— UK's pre-eminent national provider of television and radio broadcast infrastructure and a leading independent provider of communications infrastructure services. Revenue was £943.8 million for the year ended 30 June 2017 . Adj EBITDA £467m. V Raising c. £1.5bn primarily to deleverage.  Due in November.

Cabot Credit Management  -one of the largest credit management services providers in Europe and the market leader in the UK and Ireland with total 120-Month ERC of £2.2 billion.  Raising c.£195m. Offer TBA. Due November.

ContourGlobal LP— contracted wholesale power generation businesses, with 69 thermal and renewable power generation assets in Europe, Latin America and Africa.  In the year ended 31 December 2016 it generated $905.2 million of combined revenue and $440.4 million of Adjusted EBITDA.  Raising c.$400m. Expected November.

TI Fluid Systems—Maybe second time lucky? Pulled last October. global manufacturer of automotive fluid storage, carrying and delivery systems  seeking to raise €425m  to reduce financial leverage (to approximately 2.0x net debt to Adjusted EBITDA by the end of FY 2017). Possible partial sale by Bain.    Revenue for FY 2016 was €3.3 billion and Adjusted EBIT was €362.1 million

M7 Multi-Let REIT—Intends to raise up to £300m at 100p.  Aims to acquire and hold a portfolio of UK regional light industrial and regional office assets diversified by geography, asset type and tenants that is expected to generate stable income returns and, where appropriate, offer the potential to leverage and enhance returns through active asset management initiatives. Due 13 Nov.

Bakkavor Group  - Provider of fresh prepared food intends to float in November. FY 16 Revenue: £1,763.6 million   FY 16 Adjusted EBITDA: £146.4 million (13.7% CAGR FY 14-FY 16). Part vendor sale and primary raise of c. £100m. Price TBA.

Russia’s En+, owned by Russian aluminium tycoon Oleg Deripaska, has assets in metals and energy, including hydropower.  reported to be seeking dual London and Moscow listing raising $1.5bn

TMF Group , which provides tax, admin and legal support services, reported to be seeking London IPO to raise c. £200m.

People’s Investment Trust—Objective of sustainable wealth creation. Also to list on the Social Stock Exchange. Targeting £125m raise on 17 Oct. No performance fees or executive bonuses in order to focus on long term rather than short term performance.

NEX Exchange

STARTUP GIANTS PLC is a UK-based investment vehicle, which will invest in technology start-ups at the concept stage. Raising £752,700 at £1. Market cap £1m. Due 25 Oct

   
Breakfast buffet

Energiser Investments (LON:ENGI) 1.75p £2.17m

“Energiser Investments plc has signed a binding contract to sell the 20 residential units in the Wellingborough portfolio.

The sale is expected to complete and funds paid to Energiser in November 2017.  The sale price at £2.8m is in line with expectations.  Net of associated bank debt this will return approximately £1.5m of cash to Energiser.  The funds received from the sale will be used to strengthen Energiser’s balance sheet in preparation for the next investment.

Dominic White, Chief Executive commented, “this signals the successful conclusion to our period of ownership of the Wellingborough residential portfolio.  The transaction further adds to the capital available for investment into new opportunities; we look forward to updating shareholders on progress in our self-storage strategy in due course.”

Share (LON:SHRE) 26p £37.35m

FY Dec 17 trading update from the independent retail stockbroker. Q3 performance in line with upgraded management expectations, with revenues, excluding interest, increasing by 29%. Reflected the benefit of book acquisitions, healthy trading volumes and net account transfers-in from other brokers. Assets held on behalf of customers have also risen, increasing by 24% to £4.5bn. Share's market share of peer group revenues (excluding interest) continues to increase and, for Q3, the Company's share was 13.9%. This compared to 12.9% in Q2 2017 and 10.0% in Q3 2016. Including interest, Share's market share in Q3 was 10.5%, versus 9.7% in Q2 2017 and 7.7% in Q3 last year. In October, Share completed a significant upgrade to the functionality of first mobile App, launched in August 2016, enabling customers to trade and fund their accounts from the App. Share expects this new functionality to help drive user numbers. FYDec17E rev £18.01m and £0.51m PBT.

Botswana Diamonds (LON:BOD) 2.33p £10.67m

Vutomi project update, South Africa. Eight Group 1 kimberlites re-discovered.  These are the type of kimberlites found in Kimberley itself; Ground geophysical survey underway. Results due next month. Anecdotal evidence indicates that very little, if any, modern exploration technology has been applied to this highly prospective area and this is supported by the landowners, whose families have been in occupation of the properties for a number of generations.  Extensive historical working suggests that these kimberlites are diamondiferous. 

Stellar Diamonds (LON:STEL) 2.88p £1.75m

The diamond development company focused on the Tongo kimberlite development project  in Sierra Leone, announced the award of the Tongo Environmental Licence from the Environmental Protection Agency of the Government of Sierra Leone. It is now expected that the National Minerals Agency will draw up the Tongo Mining Licence for consideration and signature by the Minister of Mines and Mineral Resources.‘ "The receipt of the Environmental Licence marks an important milestone in the proposed development of the Tongo deposit into commercial production. The next milestone will be the drafting of the Tongo Mining Licence. Tongo forms part of the proposed 4.5 million carat combined Tongo-Tonguma mine development which has the potential to be the second largest hard rock diamond mine in West Africa and have one of the highest $/t kimberlite ore values globally."

Distil (LON:DIS) 3.13p £15.6m

HYSep2017 results from the owner of premium drinks brand. •      Revenue increased by 22.8% to £0.818m. Gross profit increased by 22.1% to £459k.     Volume (litres) increased by 41.3. Investment in brand marketing and promotion increased by 36.3% to £199k Reduction in operating loss of 68.1% to £21k (2016: £66k)­•      Cash reserves of £690k (2016: £883k). “We have a greater number of promotional activities planned year on year for the important Q3 period and expect to remain on plan for the full year. Q4 will see our new Blackwood's design and vintage move through the pipeline and begin to reach consumers. An updated website will showcase the new design in December. With uncertainty around the outcome of Brexit we continue to take prudent measures to manage risk and seek further operational efficiencies.” FYMAr18E rev £2.06m, PBT £0.15m.

  Phoenix Global Mining (LON:PGN) 3.88p £8.9m

The “US exploration and development company working on the development of the Empire Mine in Idaho, is pleased to announce that it has added two highly-prospective copper-cobalt properties in the Idaho Cobalt Belt, Lemhi County, Idaho, USA, to its portfolio through its wholly owned Idaho registered company, Borah Resources Inc ("Borah").  Borah has staked and filed the Bighorn and Redcastle copper-cobalt properties.  This is a notable achievement for a company of Phoenix's size given the interest in these properties and the commodity more generally.” Bighorn Property - consists of 29 unpatented claims over 580 acres. Redcastle Property - consists of 30 unpatented claims over 600 acres.  Properties are located in a previously producing area near to the town of Cobalt in Idaho and are proximal to projects being advanced by Canadian junior miners.

Tlou Energy (LON:TLOU) 11.25p £34.37m

“The Company focused on delivering power in Botswana and southern Africa through the development of coal bed methane ("CBM"), is pleased to provide an update on the progress of the 2D Seismic program underway across the Lesedi and Mamba CBM Projects in Botswana Highlights:

Ø Survey commenced on 8 October 2017.

Ø Approximately 40% of the work has been completed.

Ø Project is on time and on budget.

Ø Excellent quality data obtained”

“The seismic survey is progressing well and we are very pleased with the data obtained to date.  Data from the survey is being integrated with existing data with a view to expanding the Lesedi and Mamba Gas Reserves and Contingent Resources.”

Goldplat (LON:GDP) 6.25p £10.47m

Q3 operational update from the  gold producer, with international gold recovery operations located in South Africa and Ghana and a gold mine in Kenya. 95% increase in Au eqv sales to 14,374oz. All operations were profitable during the Quarter at an operational level. Kilimapesa Gold Mine  on track to produce in excess of 5,800oz targeted during FY 2018.  "With operational profitability achieved at all operations and good progress being made on our strategic objectives, I am very pleased with the results for the Quarter. With production rates at Kilimapesa now sustainable at planned levels for Stage 2, focus will be on cost reduction. At GRG good progress is being made in our efforts to grow production through sourcing material from West Africa and South America, and we expect commissioning of the elution plant scheduled to begin towards the end  of  December 2017." PE C.6x.

Vipera (LON:VIP) 5.25p £16.8m

“The specialist provider of mobile financial services is pleased to announce that it has been awarded Platinum status by Mastercard for its Digital Wallet. One of only 4 platinum vendors on Mastercard Engage, Mastercard's new global digital vendor directory, Vipera is also the platinum wallet with the widest global reach: locally supported on 3 continents.

The Vipera Digital Wallet, a market leader in the Middle East, is currently being deployed by processors across Eastern Europe and is also seeing keen interest in Asia where the Motif platform supports over a million active users in Thailand alone.” FYDec17E rev £9.56m and small pre-tax loss.

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...

5 hours, 1 minute ago