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Small cap movers: Orosur Mining strikes gold as it inks deal with US giant Newmont

Published: 05:00 15 Sep 2018 EDT

Handshake over gold and dollar bills

By far and away the biggest mover on AIM this week was Orosur Mining Inc (LON:OMI), with its shares rising 555% to 11.8p since Monday.

The catalyst? A new agreement announced on Monday with America’s Newmont Mining, the world’s second-largest gold producer.

The arrangement means Newmont will be allowed to have an up to 75% stake in Orosur’s Anza project in Colombia by contributing at least US$30mln.

Newmont also purchased around 29mln shares in Orosur, netting the company US$2mln.

FireAngel Safety Technology Group PLC (LON:FA.) stood out as a partnering deal with social housing and care provider Mears sent its shares soaring 34% to 77.5p.

Under the agreement, FireAngel will supply a system to Mears that will help it monitor smoke, heat, and carbon monoxide alarms across its network of over 700,000 properties.

The deal will involve Mears paying a monthly subscription fee to FireAngel for each connection to the system, with the contract lasting at least three years.

Trakm8 derailed

On the other side of the junior market, data firm Trakm8 Holdings PLC (LON:TRAK) dropped 20% to 62p this week after a weak start to the new financial year.

The group, which specialises in vehicle monitoring software, said the first five months of the year had been behind the same period a year ago, with the scrapping of a £1.6mln contract to manufacture electronics and the cancellation of vehicle-monitoring insurance policies by a significant client weighing on its sales.

While there were plenty of ups and downs, the benchmark was little changed over the week, rising 1 point to 1,097. The picture was similar for the FTSE 100.

Clean energy firm redT Energy PLC (LON:RED) has enjoyed a decent run of late, logging an 11.6% gain to 8.5p after being picked to supply the NHS and other public sector sites with energy storage.

The contract means redT will supply its industrial battery tech not only to the health service but to central government, local authorities, schools, and universities across the UK.

While the company did not cite a specific figure for the contract, it said the NHS was one of the biggest energy consumers in the UK, with costs totalling over £750mln every year.

Meanwhile, Hong Kong-based CCTV supplier UniVision Engineering Limited (LON:UVEL) was eyeing up an increase of 16.6% to 1.6p after its trading for the first four months of its financial year came in “significantly ahead” of last year.

After securing a contract with MTR Corporation, the company that runs Hong Kong’s metro, worth around 407.3mln Hong Kong dollars (£39.5mln), UniVision said its revenues for the period had risen to £4.5mln from £1.5mln, adding that it had also seen a sharp rise in its pre-tax profits.

Winkworth wanted

In the capital, estate agent M Winkworth PLC (LON:WINK) was up 13.7% to 124p over the week after a pickup in rental activity.

The company said it had seen record numbers of rental applicants registering and expected the trend to continue with rent prices moving upwards.

However, the uncertainty around Brexit coupled with higher stamp duty dragged on its finances, with gross letting sales staying flat in the first half of its financial year at £21.3mln, while income from home sales dropped to £10.8mln from £11.7mln.

Rounding off the risers for the week was Water Intelligence PLC (LON:WATR), with a share rise of 10.9% to 374p after the provider of leak detection services achieved strong growth across all its revenue streams in the first half.

Total revenue for the firm was up 39% at US$11.8mln in the first six months, while pre-tax profit rose 32% to US$1.54mln as the company continued to invest in technology to boost growth and enhance its brand.

The firm also increased the cash generated from its operations by 78% to US$455,000.

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