Breakfast News - Directa Plus, Symphony Environmental, Salt Lake Potash and others


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Gore Street Energy Storage Fund—Seeking to raise £100m for the purposes of investment in a diversified portfolio of utility scale energy storage projects.  Due 12 April.

Odyssean Investment Trust—Raising £100m at £1. Due 1 May. The Company will primarily invest in smaller company equities quoted on markets operated by the London Stock Exchange.

Report in the press that AMC is seeking to spin off Cinema Chain ODEON

Breakfast buffet

Directa Plus (DCTA.L) 50p £22.1m

The “producer and supplier of graphene-based products for use in consumer and industrial markets, is pleased to announce the successful completion of industrial field testing of Grafysorber® at an oil treatment plant of OMV Petrom, a leading Romanian integrated oil and gas company and one of the largest in Southern Europe. The tests demonstrated that the deployment of Grafysorber® improved the quality of water used for the injection process (further details provided below). The parties will now work together on the second phase of trials to expand the tests to treat a further contaminant.” “The purpose of the field tests was to trial the ability of Directa Plus' Grafysorber®, which was used in a dedicated treatment facility on a site of OMV Petrom, to remove petroleum hydrocarbons from produced water so that it could be used as injection water. The field tests demonstrated positive results in the industrial decontamination of produced water. In particular, Grafysorber® was successful in significantly reducing the concentration of total petroleum hydrocarbons (TPH) in the produced water to less than 0.5ppm.”

One Media IP Group (OMIP.L) 8.25p £7.21m

“Further to the announcement of 18 December 2017, One Media iP Group plc (AIM: OMIP), a digital media content provider that exploits intellectual property rights around music, video and copyright technology, is pleased to announce the appointment of Lord Michael Grade as Non-Executive Director and Ivan Dunleavy as Non-Executive Chairman of the Group.

The appointments are part of the Group’s stated ambition to capitalise on the growth of the music sector and to pursue further acquisitions in keeping with its original buy and build strategy.

As stated previously, the music industry is being led by growth in the streaming services provided by sites such as Apple Music, Spotify and Amazon, and the advent of devices like the Amazon Echo (Alexa) or Google Home has led to consumers continuing to change their music buying habits and embrace streaming services. The Group believes that this technology-led evolution will ensure that the industry will reap the benefits and enjoy sustained long-term growth.”


Symphony Environmental (LON:SYM) 23.5p £35.75m

“Bob Wigley, a Non-Executive Director of Symphony Environmental Technologies plc (AIM: SYM), a global specialist in products and technologies that "make plastic smarter" addressing the 2018 Economic and Social Council (ECOSOC) Partnership Forum held at the United Nations HQ in New York on 4 April 2018 said that 11 countries, most recently Saudi Arabia have now adopted oxo-biodegradable plastic technology which will help solve the world's plastic pollution problems. Mr Wigley's remarks included:   "Recently, some governments have moved on from encouraging the recycling and reuse of plastics to reducing the amount of plastic used in the first place, but we all know that it is going to take a very long time to persuade citizens not to use plastic to the extent that they do today.

There is another option, which is removing plastic from the environment. The problem is that more than half of waste plastic ends up in the environment and we are not doing anything about it. That in turn causes the problem in the oceans as well as problems for politicians, because litter is lying around and citizens, understandably get cross about it. “

Cora Gold (LON:CORA) 13.75p £7.56m

Cora Gold Limited, the West African focused gold exploration company, is pleased to announce that it has completed the first reconnaissance drill programme at the highly prospective Tekeledougou Gold Project in southern Mali.

·     17 reconnaissance reverse circulation drill holes for 2,007m completed at Tekeledougou

·     Two prospects (Kouroudian and Woyani) drilled to vertical depths of 110m to 125m

·     Large footprints uncovered via artisanal workings extending up to 600m in length

·     Broad zones (40m to 50m true widths) of intense quartz observed in drilling with deep weathering profile

Both prospects within approximately 8km of Hummingbird Resources plc's ("Hummingbird") Yanfolila Gold Mine, (Hummingbird is a 33.85% shareholder in Cora)

Initial assay results from Tekeledougou expected late Q2 2018

Immedia (LON:IME) 28p £4.08m

“In March 2017 Immedia, a supplier of multi-media content and digital solutions for leading brands and global businesses, announced that it was undertaking a significant trial of its live broadcast services with a third party on behalf of a major UK high street financial institution.

Today, the Company is delighted to announce that subsequently it has signed a substantial equipment installation contract with a designated contractor on behalf of the same major UK financial institution.  This installation work, in more than 450 branches, is to be undertaken in the current financial year.

There is also a contract in place with this financial institution relating to the production and delivery by the Company of live radio services for an extended trial period.

At this stage, until the service contract is competed in full, the Company is restricted from disclosing any further information. “

We could see no forecasts.

TP Group (LON:TPG) 5.5p £40.6m

“The specialist services and engineering group, is pleased to announce that it has been awarded a contract by the Ministry of Defence (MoD) worth up to £1.2 million over 12 months to provide specialist support to the Land Environment Tactical Communication and Information Systems (LE TacCIS) Program, with the potential for the contract to reach £2.3 million over 2 years.

This contract award follows the previous work that TP Group has undertaken with Army HQ on this programme, first announced in October 2016. This contract is for the supply of skills in Systems Engineering, Project and Programme Management and other specialist activities to support the delivery of this £3.2 billion MoD programme.”

FYDec18E rev £35.9m and £3.4m EBITDA,

Nostra Terra Oil and Gas (LON:NTOG) 3.63p £4.9m

Report on production at its Twin Well and provide a permitting update for its assets in the Permian Basin in Mitchell County, Texas. Average production at the Twin Well for the last 30 days was 58 barrels of oil per day ("bopd").

The Twin Well was drilled to a total depth of 3,200 feet, encountering more than 113 feet of gross oil pay in aggregate across multiple prospective zones, with oil currently being produced from the Clear Fork Formation. Nostra Terra owns a 53.25% Working Interest in the 120 acre lease which has two additional drill ready locations, one of which is now permitted.

The Company has now received approval for the two additional permits, where the Company owns a 73% Working Interest. Accordingly, Nostra Terra now has permits to drill three new wells. All three wells will target the Clear Fork formation and share similar economic profiles to the recently drilled Twin Well. In addition, Nostra Terra continues to assess additional locations to permit, beyond the three awarded, for future drilling.

As previously announced, Nostra Terra expects to commence drilling operations at the first of the three new wells in early May 2018.

Salt Lake Potash (LON:SO4) 32.3 p £56.5m

“The Company has today executed a Memorandum of Understanding (MOU) with Mitsubishi Australia Limited and Mitsubishi Corporation (Mitsubishi) for the first formal Offtake Agreement for the Goldfields Salt Lakes Project (GSLP).

The formal Offtake Agreement will provide Mitsubishi with sales and offtake rights for up to 50% of the Sulphate of Potash (SOP) production from a Demonstration Plant at the GSLP, for distribution into Asia and Oceania and potentially other markets.

Salt Lake Potash is completing studies for construction of a Demonstration Plant producing up to 50,000tpa of high quality SOP, and plans to distribute production through a small number of global distribution partnerships.

The MOU is non-binding and sets out the key terms for a subsequent formal Offtake Agreement as the Demonstration Plant is developed. “


Location Sciences (LON:LSAI) 0.02p £3.09m

The “mobile location and data intelligence expert,  announced the completion of its first programme of work under the Google Location Services Provider, or "LSP" certification, for Wren Kitchens. Location Sciences is one of only three certified Google LSPs, and the only one outside of the US.

The Google LSP programme ensures that providers offer location hardware, software and services that have been verified by Google engineers to be compatible with its location platforms. The project saw the installation of proximity network infrastructure to connect consumer footfall at the Wren Kitchens showrooms with online activity, and provide an ongoing LSP service across the Wren estate.

Location Sciences is also pleased to announce it has completed the supply of location data services to the Consumer Data Research Centre ("CDRC"). The CDRC was established by the UK Economic and Social Research Council to supply data to world-class researchers from the University of Leeds, University College London, University of Liverpool and the University of Oxford.

Frontier IP (LON:FIPP) 80.5p £30.8m

Frontier IP, which specialises in commercialising intellectual property, has agreed to provide extra development and engineering support to portfolio company Fieldwork Robotics in return for an increased stake in Fieldwork from 21 per cent to 27.5%

The move will enable Fieldwork to accelerate development of its agricultural robots following interest from the industry.

Fieldwork, a spin-out company from the University of Plymouth, has been incorporated to develop and commercialise the work of Dr Martin Stoelen, Lecturer in Robotics, and his team. The technology consists of a soft, adaptable robot arm and highly sensitive grippers able to handle delicate items.

Frontier IP's increased support will allow Fieldwork to develop a proof-of-principle, field-test ready prototype robot for harvesting vegetables, such as cauliflower. Frontier IP's technology team will help plan the project and work on design, software and electronics.

The project demonstrates the flexibility of the Fieldwork system, where the grippers and tools at the end of the arms can be changed for different applications. Work is well advanced on a soft-fruit picking robot, which has attracted considerable interest from leading producers.

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