The diamond miner said the two-month shut down at Lesotho Electricity's Muela hydropower station had ended on 1 December, after maintenance work was carried out.
Firestone added that insurance claims were being compiled over the loss of profit and additional $1.1mln costs incurred for renting diesel generators which powered their plant from 26 October.
Another miner, Eurasia Mining PLC (LON:EUA) climbed 14% to 2.8p after saying licence applications for its Monchetundra and West Kytlim projects in Russia were “progressing well” as it advanced plans to expand its presence in the area.
In an update, the AIM-listed miner said it has also received written approval from Rosnedra, the Russian federal subsoil management agency, for subsoil use in relation to its Tipil licence.
Tipil, which comprises 24.5 square kilometres at West Kytlim and has reorted sedimentary units hosting deposits of platinum group metals (PGM), is now awaiting a formal meeting with the local mines commission to complete the application process.
For the year ended 30 September, the company swung to an underlying (EBITDA) profit of £500,000 from a £600,000 loss in the prior year, while revenues rose 40% to a record level of £7.6mln.
IXICO is on the rise after securing £7.7mln in new and expanded multi-year contracts during the year, as well as three new agreements in the first part of its current year.
1.30pm: Augmentum Fintech struggles to augment investment gains
Zopa saw its valuation fall by 47% to £188mln yesterday after an urgent fundraise yesterday allowed it to keep its bank licence, which was set to expire within days.
Augmentum said today that upward valuations of its portfolio companies to the tune of £14.9mln were offset by the Zopa write down, leaving an overall gain on investments of £4.6mln.
Character Group PLC (LON:CCT) saw a dramatic downturn, falling 7.2% to 385p after reporting that the Christmas season is not bringing higher sales for its current range of Peppa Pig, Pokemon and Dr Who toys.
“Challenging trading” has affected trading in the festive season and will hit performance in the first months of its new financial year, the AIM-listed toymaker said in its annual results statement.
Its expecting the second half to pick up on the back of new lines featuring licensed-in brands such as Peppa Pig, Teletubbies and Scooby-Doo, scheduled to launch from January through to early summer.
Vodafone PLC (LON:VOD) rang in a 0.6% lower share price of 145p following news of its link-up with Amazon Web Services.
The tech companies will team up to offer business customers in Europe edge computing capabilities, which is where devices, which are running software on the cloud, take on key parts of the computing and processing in order to increase privacy and reduce the time it takes for data to be sent from one point to another.
Back in May, the telecoms provider revealed a £6.6bn annual loss and cut shareholder dividends.
10.30am: Webis Holdings races ahead with betting business
Webis Holdings PLC (LON:WEB) galloped ahead, up 8.3% at 1.3p after announcing that its advance-deposit betting business WatchandWager signed an extension to continue its horse racing operations at Cal Expo Harness Racing.
WatchandWager has extended its contract the start of May in 2025, including a clause to extend the lease until 2030, if they both agree to.
Webis has been operating live racing at the event since 2012, and said “our commitment to Cal Expo and racing ensure that WatchandWager will remain a major stakeholder in the positive expansion of gambling in the state of California for many years to come”.
Shares in MaxCyte Inc. (LON:MXCT) jumped 7.1% to 121p when the firm inked a new development and commercialization agreement with KSQ Therapeutics, a biotechnology company using its proprietary CRISPRomics discovery platform to achieve higher probabilities of success in drug development.
Under the agreement, KSQ gains the rights to use MaxCyte's Flow Electroporation technology and ExPERT instruments for the advancement of KSQ's engineered tumour-infiltrating lymphocyte (eTIL) programs, which the global cell-based therapies and life sciences company is developing for the treatment of PD-1 refractory solid tumours.
Stock Spirits Group PLCs (LON:STCK) shares rebounded, up 5.7% at 199.2p after the alcohol distiller revealed plans to expand distillation capacity in Poland, with profits rising due to strong vodka sales.
Profit before tax rose by 25% to €38.3mln in the year to the end of September, said the spirits and liqueurs seller in its full-year results on Wednesday.
More than half of revenues were contributed by bumper vodka sales of €171mln in Poland, Europes biggest market for the spirit, where it is planning to spend €25mln on building additional distillation capacity in the next three years.
9.30am: M&C Saatchi's shares almost halve on profit warning
The company cut profit expectations for a second time in less than three months, with adjusted underlying pretax profit for the full year to fall between 22% and 27% compared with last year.
An accounting blunder identified in August was also worse than expected, with an audit review suggesting an upward adjustment of £11.60mln.
“A mess would be a polite description,” said Russ Mould at AJ Bell.
The fast-fashion retailer said online sales grew 7% to £20mln in the half-year to 30 September but overall sales dropped 5% to £63.3mln, which it blamed on a wider UK retail sector being hit by macro-economic uncertainty.
The clothing seller has had a disastrous run this year, which included the scrapping of the dividend in June, after the collapse of high street department store House of Fraser and more aggressive discounting wiped out almost all its profits.
Profits already fell 16% to £944,000 in the six months to the end of September due to lower revenues and in the USA short-term pressure on margins due to the impact of increased import tariffs on goods sourced from China.
Shareholders were warned in October of “materially lower” full-year profits, after a breakdown in demand in the first half of the year.
Proactive news headlines:
MaxCyte Inc. (LON:MXCT) has inked a new development and commercialization agreement with KSQ Therapeutics, a biotechnology company using its proprietary CRISPRomics discovery platform to achieve higher probabilities of success in drug development. The terms of the agreement will see KSQ obtain non-exclusive clinical and commercial use rights to MaxCyte's cell engineering platform to develop multiple adoptive cell therapies. In return, MaxCyte is eligible to receive certain milestone payments in addition to other licensing fees.
IXICO PLC (LON:IXI) has achieved its first year of profitability since its admission to AIM in 2013. For the year ended 30 September, the neuroscience analytics firm swung to an underlying (EBITDA) profit of £500,000 from a £600,000 loss in the prior year, while revenues rose 40% to a record level of £7.6mln.
VR Education Holdings PLC (LON:VRE) is to launch a new 5G virtual reality (VR) device in partnership with Deutsche Telekom, US conglomerate Qualcomm Inc (NASDAQ:QCOM) and Taiwanese tech group XRSPACE. The VR technology firm said its ENGAGE platform, which allows users to construct virtual classrooms and other environments, has been selected as a launch application for the new VR headset, which is scheduled for release in the middle of next year.
Advanced Oncotherapy PLC (LON:AVO) is teaming up with one of Americas premier medical centres to assess the potential of the companys proton beam technology. The two-year collaboration with the Cleveland Clinic will evaluate “the target conformity of proton mini-beams compared with x-ray stereotactic body radiation therapy”.
Supermarket Income Reit PLC (LON:SUPR) shares nudged higher on Wednesday as the group saw increased rents for two properties in its portfolio. The firm said a retail price index (RPI) rent review for its Sainsburys supermarket in Ashford, Kent, had resulted in the annual lease payment rising to £4.04mln from £3.93mln per annum. Meanwhile, a similar review for its Tesco superstore in Thetford, Norfolk, will see rents rise to £2.72mln from £2.64mln per annum.
OptiBiotix Health PLC (LON:OPTI) has announced the appointment of Mikkel Hvid-Hansen as European Sales Leader of its wholly-owned subsidiary, ProBiotix Health Ltd. The life sciences business – which is developing compounds to tackle obesity, high cholesterol, diabetes and skincare – noted that Hvid-Hansen is joining ProBiotix Health from a position as International Sales Manager from Cell Biotech Int., a Korean probiotic company selling bulk ingredients and finished products internationally.
Primary Health Properties PLC (LON:PHP) has inked an £8.4mln deal to providing funding for the construction of a medical centre in Eastbourne, England, as the property investor continues to grow its portfolio. In a statement, the FTSE 250-listed healthcare facility builder said that over 18,000 patients will benefit from primary care facilities to be built for two merged GP practices, and the property will be wholly-owned by PHP after completion.
PCF Group Plc (LON:PCG) has its sights set on a £1bn loan book after the specialist lender posted record numbers in its latest year. Loans outstanding rose 55% to £339mln with profits for the twelve months to September climbing by 54% to £8mln.
Alien Metals Ltd (LON:UFO) is buying a formerly producing Western Australia silver mine in a low-cost, all-share deal. The group is acquiring the Elizabeth Hill Silver Project from Karratha Metals Group. Alien is handing over 200mln shares valued at 0.14p each, or £280,000 in total. The stock comes with 50mln warrants attached that are in the moneyRead More – Source