Anglesey Mining (LON:AYM) (AYM 58p / £88.83m)
Anglesey’s directors have exercised 2,500,000 share options at an average price of 7.2p per share and have immediately sold them on to Gartmore Investment and another unnamed institution for 56p per share. In addition, the company has raised £1.4 million by placing another 2,500,000 new shares at 56p per share to the same investors. The funds will be used for working capital purposes.
Avacta Group (LON:AVCT) (AVCT 1.24P / £17.81m)
Provider of high value technologies and services to the pharmaceutical and diagnostics markets announced that it made its first sale and installation of the Optim system to the US, which is the biggest market for the product. Optim is designed to accelerate and reduce the cost of drug development through early stage analysis of drug compounds, which helps identify the best candidate drug compounds for development and optimum processing conditions. Optim is capable of delivering such information at least 10 times faster than any other approach, whilst the single-use sample holder feature of the product is expected to lead to significant recurring consumable revenues. In November last year the Company announced very positive final results for the period to 31 July 2010. With news of sales to the US market and the Company’s results, 2011 could be very interesting indeed for Avacta.
Bahamas Petroleum (BPC 13p / £128.36m)
Following up on last year’s seismic data indicating the potential of super-giant traps of hydrocarbons on the Company’s licences in The Bahamas, the Company has engaged Osprey Navigation to perform a close grid 2D seismic survey in order to define drillable targets and resource potential in place.
Beowulf Mining (LON:BEM) (BEM 41.75p / £66.72m)
In October 2010 we wrote on the commencement of a drilling programme for Beowulf’s wholly owned Kallak South iron deposit, and subsequent to this the Company has announced drilling results which confirm the presence of an estimated 400 million metric tonnes of iron ore of similar type and quality to that encountered at the Kallak North deposits. An international consultancy group has started work to complete an independent JORC compliant resource estimate for the Kallak North deposit schedule to be completed in late Q1 2011. Preliminary results indicate the presence of more that 175 million tonnes of iron ore,…
