Oxford Biomedica (OXB) shares tick up 13.13% to 1,135p as it doubles sales forecasts
The FTSE 250 gene and cell therapy group announced today an update on the 18 month supply agreement the group had signed with AstraZeneca UK Ltd back in September 2020.
The company confirmed to investors that following the successful manufacture of large-scale batches of AstraZeneca's COVID-19 Vaccine, AstraZeneca has now committed to an increase in the number of batches required from Oxford Biomedica during the second half of 2021.
As a result of this, OXB is raising revenue guidance for expected cumulative revenues from AstraZeneca by the end of 2021 from in excess of £50m to in excess of £100m, and as a result, it now expects significant growth in Group Operating EBITDA in the year ending 2021.
Mkango Resources (MKA) soared 22% to 30.5p following positive results at Songwe
Shares in the group have risen by over 15% since it unveiled that results from a flotation pilot plant programme had proven effective in scaling up a new, optimised flotation regime for the Songwe Hill Rare Earths Project in Malawi of which the company holds a 51% interest in.
Mkango is developing the 51% owned Songwe Hill rare earths project in Malawi with the ongoing Feasibility Study funded through a £12m investment by partner, Talaxis Limited.
Mkango said the results position it as one of the very few companies outside China with an advanced stage project positioned to supply the critical rare earths essential for the green transition.
"These excellent flotation pilot results for the Songwe feasibility study are a significant improvement versus the 2015 pre-feasibility study and is expected to have a positive impact on downstream hydrometallurgical operations, the piloting for which has already commenced,” it told investors.
Harvest Minerals (HMI) shares jump 18.03% to 3.5p as it expands marketing channels
In recent weeks, the remineraliser producer has expanded its marketing channels for its direct application natural product, KP Fértil®, after it received approval from the Ministry of Agriculture, Livestock, and Food Supply enabling it to sell smaller bags of the product.
KP Fértil®, produced at its 100% owned Arapua Fertiliser Project in Brazil, was previously only able to be sold in 13-50 tonne bulks or one-tonne big bags suited for the larger wholesale farmers and smaller scale agricultural market and co-operatives, respectively.
The addition of the 25kg bag option provides ‘an important diversification of marketing channels to include small to medium sized farmers and resellers,’ the group highlighted.
Prior to this expansion, Harvest had already seen a strong 1Q21 sales performance for its KP Fértil® with 8,872 tonnes sold during the quarter. This performance represents a 166% increase over the sales realised in 1Q20, despite the challenges imposed by the pandemic.
Harvest said its Q1 sales performance keeps the business on track to meet its 2021 sales target. Looking ahead, the Group stated that it has new target regions planned for 2Q21.
Galantas Gold Corporation (GAL) shares rose 17.24% to 34p as it raises $7.9m
The firm has now completed an oversubscribed private placing which the firm had previously unveiled in April to fund the Galantas Gold Mine in Omagh, Northern Ireland to full production and accelerate exploration plans to expand the high-grade gold resources.
This morning’s placement resulted in the issuance of 26,663,264 units at a price of C$0.30 per "Unit" for aggregate gross proceeds of C$7.9 million. The company explained that each unit comprises one share and one warrant exercisable into one additional share at C$0.40.
In addition to the placing, the company announced that Roland Phelps has retired as Galantas' President, CEO and as a member of the board of directors. As a result, Mario Stifano, an experienced mining executive, will now take over as Chief Executive Officer.
The company also highlighted to investors that its existing offtake agreement with Ocean Partners has now been extended from a minimum total of 50,000 tonnes of concentrate deliveries to a minimum total of 150,000 tonnes and marketed at market rates. Meanwhile, Galantas also noted that the maturity dates of various loan notes have also been extended.
HomeServe (HSV) shares fell 5.40% to 981p as UK home repair business falls
Shares in the home repair firm fell despite it reporting a 15% increase in revenues to £1.3bn for the year ended 31 March 2021 which it attributes to an ‘exceptional’ performance in North American Membership and heating, ventilation and air-con (HVAC) services.
Revenues from the firm’s US business were up 22% with operating profits up 27% to nearly $138m and the new-partner pipeline ‘at its strongest ever’, according to the company.
Despite a ‘very good performance in FY21, with acceleration expected in FY22’, the firm reported a 10% drop in operating profits to £72.5m for its UK business, which is its most established market, due to a continuation of the long-term decline in customers.