It was time to crack open the champagne for day one of dealings for Spinnaker Acquisitions (SPAQ) as the green / sustainable investments company was admitted to the standard segment of the Official List.
By Zak Mir
Spinnaker has strict rules in terms of target businesses including those operating in a sector eligible for LSE Green Economy Mark, have revenues, but need not yet be profitable and must not simply be green–washing.
Native in-game advertising group, Bidstack (BIDS) is pleased to announce a new partnership with T-Bull S.A., one of the largest mobile game developers in Poland, for its free-to-play title Racing Classics PRO: Drag Race & Real Speed. T-Bull was founded in 2010 in Wrocław and has grown from a five-person operation to a team of more than 60 staff. It was listed on the Warsaw Stock Exchange in 2018. T-Bull’s games have been downloaded more than 250 million times and the popularity of its titles continues to grow.
Rocky mountain focused Zephyr Energy (ZPHR) provided an update on the State 16-2LN-CC drilling operations as well as to announce an increase in its operated land position through the acquisition of an additional 12,260 acres in the Paradox Basin, Utah, U.S. The company said drilling operations have proceeded in line with expectations. At present, the well has been drilled to a total depth of 10,100 feet and has successfully landed in the Cane Creek reservoir at an approximate 85 degree angle.
Shearwater Group (SWG), the organisational resilience group that provides cybersecurity advisory and managed security services announced its final results for the year ended 31 March 2021. It revealed strong cash generation and growth in underlying EBITDA and said it was well-positioned for FY22. It achieved 155 new customer wins in the period (FY20: 150). There was new software revenue of £1.3m secured from new clients and up-selling (FY20: £2.1m), with FY20 benefiting from a large one-off contract, plus non-recurring sales associated with widespread moves by customers to remote working in the prior year.
Bluejay Mining (JAY) has signed a binding term sheet and entered into a conditional agreement for the sale of its Paltamo and Rautavaara Nickel-Zinc-Copper-Cobalt projects in Finland to Metals One for a combination of cash and shares totalling £4m. Metals One has informed the Company that it intends to seek a listing on the AIM market of the London Stock Exchange in 2021.
Much followed Hurricane Energy (HUR) updated on its Lancaster field operations. Production operations at the Lancaster field have resumed following the Aoka Mizu FPSO’s scheduled annual maintenance shutdown. Hurricane said production from the 205/21a-6 well is currently stabilising, and a further update will be given in the Company’s next monthly production release, which is scheduled for mid-August 2021.
United Oil & Gas (UOG) revealed the signing of non-binding Heads of Terms on an agreement to sell UK Central North Sea Licences P2480 and P2519 to Quattro Energy for a headline consideration of up to £3.2 million (c. US $4.4 million). Initial payment of £2 million at completion of the transaction. On Field Development Plan approval, a further consideration of £1.2 million.
Challenger Energy (CEG), updated on production testing of the Saffron-2 appraisal well. Since the last announcement of 14 July 2021, the drilling rig has been fully demobilised, to be replaced at site by a Challenger Energy workover rig along with production tanks and major production equipment. Once the well has been fully “cleaned-up”, pressures, oil and fluid types, and production rates from the Lower Cruse zones of the well can be ascertained. After this the other 200ft of net pay identified in the Upper and Middle Cruse zones will be perforated and tested, to give a full assessment of the well’s production potential.
Nevada focused Great Western Mining Corporation (GWMO) announced the results of its Trafalgar Hill drilling programme at the Olympic Gold Project. Here it was able to report high grade intercepts of up to 8.90 grams/tonne gold. The company said drilling results support the potential for target expansion. The potential size and value of the company’s prospects are therefore underpinned with a successful vein extension and step-out drilling is planned. At West Ridge results revealed prospectivity from a deeper epithermal vein.
Empire Metals (EEE) unveiled the results of the third phase of reverse circulation and infill diamond drilling at its Eclipse Gold Project. The resource exploration company said third phase of RC drilling has delivered encouraging results and supports the scaling of the Project’s mineralised footprint, The RC drilling has confirmed the existence of several parallel veins in addition to the main Eclipse vein and the diamond drilling has replicated intercepts from previous RC drilling as well as providing an invaluable insight into the nature of the mineralisation and the alteration zones.
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