Vox Markets
Market Report
15:30, 24th September 2020

Pets at Home (PETS FOLLOW) shares rocket 26.21% (AIM:PETS) to 385p following positive trading update 

Today’s trading update confirmed the positive upward trend in trading seen in the last eight weeks of 1Q21 has continued into 2Q21 across both retail and veterinary operations with double-digit Like-For-Like growth in customer sales through the eight-week period to 10 September 2020. 

Shares in PETS have soared since lows of 227p seen in July to Open today at 326p and trade up to intraday highs of 384p. 

Source Twitter 

Tekcapital (TEK FOLLOW) shares jump 26% on news that Salarius has signed a sales and distribution agreement for LATAM. 

Under the agreement, FXM will provide integral solutions including logistics and technical consulting on the development of the market for Salarius including securing meetings with the top snack food manufacturers, flavor houses, contract manufacturers and other food companies looking for full flavor, low sodium alternatives, along with attendance at food trade shows such as the Food Technology Summit and Expo in Mexico City. 

In Mexico, 2020 revenue in the snack food segment is projected to be US$5.68 billion.  

"FXM is thrilled to enter into a strategic partnership with Salarius. We are excited to introduce MicroSalt® as a solution in our portfolio for the new Mexican labeling concerning the reduction of sodium content. Integrating Salarius into our family of world class manufacturing partners is complimentary to the FXM business model and is in alignment with our strategic vision for growth." says Gilberto Olvera Hernández, CEO of FXM. 

Katoro Gold (KAT FOLLOW) shares advance 10% following 1H20 Results 

In particular, the Company highlighted it has entered into a binding conditional agreement to participate in a strategic gold production opportunity in South Africa, focused on the reprocessing of an existing 1.34 million ounce of gold JORC compliant tailings resource. 

Other highlights included reaching a final agreement with Lake Victoria Gold Limited ("LVG") for the disposal of Reef Miners Limited for a total staged cash consideration of up to US$1.0 million and a 1.5% Net Smelter Royalty and the placing to raise £1.1m (gross) through an oversubscribed placing at 1.5p to finance the continued development of the Company's project portfolio. 

Source Twitter 

Dekel Agri-Vision (DKL FOLLOW) shares jump 10% following positive production and sales update 

The Company’s production and sales update for its Ayenouan palm oil project in Côte d'Ivoire for August 2020 highlighted Year-on-Year Crude Palm Oil (“CPO”) production rose 3.6% to 1,551 tonnes in August as materially higher extraction rates more than offset a 9.7% reduction in fresh fruit bunches delivered to the mill for processing.  

Together with a 25.7% increase in global CPO prices for August 2020 (compared to August 2019), September 2020 is expected to see a continuation of the recent trend of improving year on year financial metrics.  

Dekel Agri-Vision Executive Director Lincoln Moore said; "With the upcoming half year report expected to show a more profitable H1 financial performance compared to last year, and with the large scale cashew processing project on course to commence first production in Q2 2021, Dekel is entering an exciting period in its development and I look forward to providing further updates in due course." 

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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