Today's AIM Risers: Kromek's $1m Contracts, Greatland's Gold Target, LA Metro Teams With Thruvision
Below is a roundup up of today's small cap news highlights & AIM risers.
redT Sells Energy Storage Machine
Energy storage solutions company today announced it has sold a 300 kWh redT energy storage machine to Anglian Water.
Shares were up 12% on the news, which also saw redT sign a collaborative partnership agreement with Anglian Water to optimise its energy storage across its water utility sites.
The company received the initial commercial order for four Gen 3 units, which will be installed at one of the company’s water treatment sites in the UK. The units have a combined capacity of 60 kW of power and 300kWh of energy and will be coupled alongside approximately 500kWp of on-site solar.
Pathfinder Shares Up After Director Change
Shares in rose 19% today after announcing that Nick Grew has stepped down as a director of the company.
With the move, which comes into effect 20 August 2018, former non-executive director Scott Richardson Brown is now an executive director.
In an RNS, the company said: “The directors thank Nick for his unwavering commitment and persistence in preserving the Company's prospects of achieving a resolution to Pathfinder's dispute over mining licences in Mozambique.”
Silence Therapeutics Executive Chair Departs
There is a similar story at AIM-listed , which were up 15% after announcing that Dr. Annalisa Jenkins was leaving her role as executive Chair and Director with immediate effect.
Dr. Andy Richards, CBE, a non-executive Director of Silence Therapeutics since September 2016, is will assume the role of non-executive Chair in an interim capacity as the company looks for a new Chair.
Dr. David Horn Solomon, Chief Executive Officer of Silence, commented: "In a short period of time, Annalisa has been responsible for upgrading our R&D operations, and reshaping the company strategy. Silence is now in a much better position to compete in the newly approved drug modality of RNAi, and we are excited to continue our drug development based upon our proprietary platform.”
LA Metro Will Use AIM-Listed Company's Bodyscanners
shares were up today after recent news that its bodyscanners will be used by the LA Metro.
Last week, the Transportation Security Administration (TSA) announced it had partnered with the LA Metro to deploy a “new advanced portable passenger screening technology” to help detect weapon and explosive device security threats on the county’s transit system.
With the news, Metro said it had purchased several devices built by AIM-listed Thruvision - namely its TAC-TS4 portable terahertz millimeter wave passenger screening devices.
The units will be “placed at locations throughout the Metro system and are equipped with software that quickly and unobtrusively screens individuals for concealed threats”.
New Collaboration For Versarien
today rose 6% after announcing a new collaboration agreement with AXIA Materials.
The agreement is to develop graphene enhanced composite materials and smart graphene devices using both Versarien's proprietary Nanene graphene nano platelets and proprietary Graphinks graphene inks.
Neill Ricketts, CEO of Versarien, commented: "We look forward to working with AXIA and their customers to develop a variety of graphene enhanced systems and technologies. The relationship with AXIA is an important step for Versarien and illustrates the wide range of applications that Versarien's Nanene and Graphinks can be applied to.”
Kromek Wins Two Contracts Worth $1m
AIM-listed radiation detection technology company today said it had won two new contracts worth a total of $1m.
The contracts are with a new OEM customer and an existing Bone Mineral Densitometry (BMD) customer, and both contracts commence immediately with one delivered over an 18-month period and the other within the current financial year.
Kromek CEO Dr Arnab Basu said: "We continue to add new OEM customers in the medical device sector, working with them to build the next generation of medical instrumentation.”
Wolf Minerals Completes Funding
rose today after announcing the conditions related to its funding have now been satisified.
The specialty metals producer Wolf Minerals WLFE said “all the conditions precedent to the standstill arrangements and amended and restated agreements with the company’s existing senior lenders and Resource Capital Fund VI L.P. (RCF VI) have been satisfied.”
With this, the company has been granted a waiver of ASX Listing Rule 10.1 that allow the company to grant RCF VI security for the amended bridge facility without shareholder approval.
Greatland Gold Identifies Large Gold Target
shares were also up after identifying a large gold target at its Firetower Project.
The precious and base metals exploration and development company said a new large new gold target has been outlined by results of a 3D Induced Polarisation survey at its 100% owned Firetower gold project in Tasmania, Australia.
The technical report revealed “a large gold target, approximately 1,000 metres long, traversing east-west across the Firetower prospect, which is open to the east and up to depths of 400 metres”.
Gervaise Heddle, Chief Executive Officer, commented: "We believe that these models represent a potential breakthrough for our exploration efforts at Firetower and will help us to unlock the true potential of this high-grade, near-surface gold deposit.”
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