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Live Company experiences boost as two new contracts signed

Last updated: 10:10 25 Feb 2022 EST, First published: 04:18 25 Feb 2022 EST

Petro Matad Limited -

Live Company Group PLC (AIM:LVCG) saw its shares rise by 8.6% to 4p after it announced it had signed two contracts for BRICKLIVE shows.

The first contract for is Paw Patrol, a child’s tv show, and is with Northampton BID, which will run from 12 March to 27 March.

The second is with a heritage steam railway for Paddington which will take place during May half term and is the second time the company will be working with a historic railway company, a statement said.

2:10 pm: Evraz investors as of yet unconcerned by any potential sanctions

Evraz PLC (LSE:EVR) rose by 23% despite the company announcing it is preparing for the “severe downside scenario” as the situation in Ukraine worsens.

The steel giant said revenue grow to US$14mln in 2021 from US$9.7mln in 2020, as shares climbed to 211p.

Its profits also increased by roughly four fold to US$3.1bn, with plans to push ahead in 2022 to improve its operational performance.

As of yet, the company has not been impacted by any of the sanctions imposed on Russia, but believes should it be hit, it will have to reduce spending by US$500mln a year and go to the market to raise capital for 2023 and 2024.

12:59 pm: Net debt a concern for IMI investors

IMI PLC (LSE:IMI) released preliminary results for the year ending 31 December 2021 today which saw its shares fall by 3.47% to 1455p.

Despite an increase in revenue and operating profit from the previous year, investors have seemingly latched onto net debt nearly doubling to £623mln from £316mln.

The engineering company said the increase in net debt incorporates a share buyback programme and the acquisition Adaptas, a manufacturer of solutions for laboratory science equipment.

The company said that it expects “2022 full year adjusted earnings per share to exceed 100p," currently at 92p.

11:46 am: Tintra shares soar following progress on asset sale

Tintra PLC (AIM:TNT), up 37% at 220p, was the top riser on Friday after it updated shareholders on the sale of certain assets.

The company has previously notified of certain regulatory and administrative complexities associated with the sale of assets of Prize Provision Services to Sterling Management Centre.

These have now been materially addressed.

11.10am: Ncondezi dips after updating on its working capital

Ncondezi Energy Limited was down 7.5% to 0.008p following an update on its working capital facility term loan with Seritza Limited.

The power development company said the current outstanding amount is US$300,000, but reassured investors it has sufficient cash to repay the loan and remain funded until the end of the first half of the year.

It added that it is in restructuring discussions with Seritza, which may lead to a maturity extension as well potential non-cash settlement solutions.

Ncondezi plans to submit a written loan restructuring proposal no later than 4 March 2022, with Seritza saying it will not call in the loan for a period of 30 days while the restructuring is finalised.

10:15 am: Eurasia Mining is unaffected by sanctions on Russia

Eurasia Mining PLC (AIM:EUA) soared by 28% to 14p after it announced that current sanctions imposed by the UK, US and EU will have no impact on its operations.

The palladium, platinum, rhodium, iridium and gold producing company with operations in Russia reaffirmed it has no accounts or relationships with Russian state-owned banks, which have been targeted with sanctions.

It also said that a weak Rouble will positively impact the bottom line of the company when selling metals in the domestic markets.

The sanctions do not prevent the company from executing any of its strategies in the area.

9:18 am: Seplat rises following acquisition of Mobil Producing Nigeria Unlimited

Seplat Energy Plc (LSE:SEPL) climbed 8.6% to 101p after it entered into an agreement to acquire the entire share capital of Mobil Producing Nigeria Unlimited.

Completion of the transaction is subject to ministerial consent and other required regulatory approvals.

The company is paying US$1,283 million upfront plus up to US$300 million in contingent consideration.

Petro Matad Limited (AIM:MATD, OTC:PRTDF) dives 8.7% to 3.7p following an operational update that spoke of possible delays to its drilling programme.

The company has advanced negotiations with operational service providers for the 2022 work programme and has secured some price reductions compared to the 2019 drilling programme. The Mongolia-focused explorer is pushing for operational activity to start after the winter hiatus in the second quarter of 2022, with the re-entry, stimulation, and completion for production of Heron 1. The equipment and personnel required for this work are largely already in Mongolia.

However, currently, the timing of the availability of drilling equipment and crews for the drilling of additional Heron wells has not been confirmed by the contractors. The most active Chinese drilling contractor along with the other, mainly Chinese, service providers have been affected by Covid-related travel restrictions.

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