What’s cooking in the IPO kitchen?
AIM
Touchstone Exploration— Oil exploration and production company active in the Republic of Trinidad and Tobago. Interests of approximately 90,000 gross acres. Production c. 1,300 boepd. Raising £1.45m. Expected mkt cap £7.5m. Due 26 June.
I3 Energy –Schedule 1. Independent oil and gas company with assets and operations in the UK. Offer TBC, 7 June admission.
Verditek— Schedule 1 update. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Issue price 10p. Admission in late May.
Tiso Blackstar Group—Schedule 1 update. Media, entertainment and marketing solutions group/ £160m mkt cap. Admission only. Expected late June.
Main Market Premium Listing
AIB—Intention to float from AIB, Ireland's leading retail and commercial bank . The Minister for Finance intends to sell approximately 25% of the Ordinary Shares of AIB. Prospectus and announcement of the price range due in mid-June 2017.
Curzon Energy—Report on Proactive Investors of intended LSE float this year with acquisition of coal bed methane assets in Oregon. Looking to raise £3m plus.
NLB Group—financial and banking institution based in Slovenia, with a network of 356 branches. Seeking Ljubliana Stock Exchange listing with GDRs on the LSE. Expected mid June.
Flying Brands (LON:FBDU)—Prospectus approved by FCA. RTO of Stone Checker Software, supplier of technology solutions in the field of kidney stone analysis and prevention. Has raised £550k at 3p. Subject to GM on 15 Jun.
AEW UK Long Lease REIT—Intention to Float. Up to £150m raise. Admission early June. UK specialist and alternative property
Kuwait Energy— $150m raise plus vendor offer. Admission due June. 2p reserves 810.0 mmboe
Breakfast buffet
Nature Group (LON:NGR) 9.38p £7.4m
FYDec16 results from the provider of port reception facilities and waste treatment solutions for the oil, marine and process industries. Revenues down 26% to £11.9m. Underlying op loss widened to £1.62m (2015: -£1.13m). Cash balances up to £0.38m (2015: £0.28m). Maritime core focus unchanged. Seeks growth via adjacent locations (Currently Texas and Benelux) and new product offerings including collection of fixed waste (Marpol Annex V in Rotterdam) and servicing inland vessels in Rotterdam, having successfully won a tender for the next 3 yrs. New ‘waste treatment at source’ contracts in oil and gas. ‘With a successful execution of these activities, combined with a further downsized organization, we believe we will deliver an improved performance compared to 2016.’
Trakm8 (LON:TRAK) 117.5p £41.94m
The telematics and data provider to the global market place, announced a contract extension by Iceland Foods Limited, the UK's leading frozen food retailer. The contract extension covers the provision of Trakm8's Route Monkey Optimisation software and updates Trakm8's Roadsense telematics with Trakm8's latest "RoadHawk 600" integrated 4G video and telematics solution, with data provided via Trakm8's latest data solution "Insight". The new contract extension will run until April 2024. Trakm8, through Route Monkey and Roadsense, has been providing solutions for over 1,500 Home delivery vehicles and optimising over 11 million deliveries per year. Significant enhancements in the next generation solutions. FYMar18E rev £32m and PBT £3m. 16x PE.
Bezant Resources (LON:BZT.L) 1.15p £3.5m
Acquisition, commissioning and operation of the Company's first gold-platinum production plant with commissioning targeted to occur during Q2/Q3 2017. Experienced Colombian mining contractors, Exumax, will shortly commence mining operations on the Company's FKJ-083 licence area . - Recovery of first platinum and gold within two months of commencement of mining operations. Operations will be based at the mining camp used for exploration, which includes a platinum and gold storage room and is located close to the town of Condoto and its nearby airport.
OPG Power Ventures(LON:OPG) 41.25p £145m
The developer and operator of power generation plants in India, announces its trading update in respect of the full year ended 31 March 2017.
Highlights
· Total generation c4.4 billion units up 30% from 3.3 billion units in FY16;
· Chennai plant load factor ("PLF") of 76% and 63% for Gujarat;
· Gujarat PLF up from 52% in FY16 and consistent with long term target of 75%;
· Management expect FY17 results to be in line with consensus expectations;
· Group debt repayment profile significantly improved; 62 MW Karnataka solar project - construction set to begin next quarter. FYDec17E rev £181m and £34.24m PBT. 2.7% yield.
Oncimmune Holdings (LON:ONC) 140p £71.43m
The early cancer detection company developing and commercialising its proprietary EarlyCDT® platform technology, announces it has obtained the CE mark for EarlyCDT®-Lung test in an ELISA kit format. EarlyCDT®-Lung is a simple autoantibody blood test that can detect lung cancer up to four years earlier than other methods. The Company is now ordering its first batch of commercial kits which will be available within four months in time for launch. The kit has the advantage of running on already well established ELISA-96 well-Microplate-Instruments that hospitals worldwide have as standard equipment in their laboratories. FYMay18E rev £2.6m and £4.2m loss.
Horizonte Minerals (LON:HZM) 2.8p £32.8m
The nickel development company focused in Brazil, is pleased to announce the complete results of the 30 hole pre-excavation drilling programme on its 100%-owned Araguaia nickel project. High grade nickel intersections include: 4.97 metres grading 2.44% Ni
o 8.69 metres grading 2.31% Ni
o 8.62 metres grading 2.19% Ni
o 11.14 metres grading 2.07% Ni
o 11.05 metres grading 2.02% Ni
· Delivery of a key milestone as part of the Feasibility Study ('FS')
· Trial excavation work underway with the aim of converting Probable Reserve to Proven Reserve, conform resource re-conciliation and overall mining conditions.
Tlou Energy (LON:TLOU) 6.75p £20.5m
The company focused on delivering power in Botswana and southern Africa through the development of coal bed methane ("CBM"), has appointed Velseis Pty Ltd, an experienced seismic survey contractor, to undertake a fully funded seismic survey for both its 100% owned Lesedi CBM Project and the adjacent Mamba Permit. 250 km 2D seismic programme targeted to commence Q3 2017. Target areas considered to be highly prospective for the addition of Gas Reserves. “This survey will give us the opportunity to expand our Gas Reserves and Resources as we progress towards developing the first CBM gas to power project in Botswana.”
Dalradian Resources (LON:DALR) 82p £205.2m
Additional results from its underground drill program at the Curraghinalt gold deposit in Northern Ireland. The Company concluded its most recent phase of drilling in May, having completed approximately 9,580 metres in 27 holes. Results are still pending for 9 holes. Preparations are underway to drill approximately 30,000 metres from surface this summer, consisting of primarily step-out holes. Highlights include 2.04 m of 63.98 g/t gold and 1.37 m of 75.69 g/t gold. “I am also pleased to report that since the end of March we have raised an additional $1 million through warrant exercises."
Eurasia Mining (LON:UA) 0.52p £8.1m
The platinum and gold production company, announces that the Reserves Report and Feasibility Study for the Monchetundra palladium and platinum Project, submitted in late December 2016 (see RNS dated 22 December 2016), have now been approved by the Russian State Agency for Subsoil Use. Global, state approved Reserves and Resources within the Monchetundra Project comprise Russian standard C1 and C2 categories of 55.9 tonnes (1.9 million ounces) palladium equivalent with major additional gold and base metal credits, at two open pittable locations. This is a bigger opportunity than West Kytlim which Eurasia is due to bring into production this year.