Mycelx Technologies Corp had surged by over 6% on the bourses, post the company announced a contract win with a new SABIC affiliate customer. The company has been awarded a contract for up to $1.1m to deploy in-country rental fleet equipment to manage the oily water treatment needs for a new SABIC-affiliate customer. This would allow company to respond rapidly to its customers’ needs.
The CEO of the company, Mr. Connie Mixon commented, “I am pleased to announce another contract win for MYCELX, and we are delighted to add another SABIC affiliate to our customer base. This is the latest win driven by our recently strengthened Middle East team. In this instance we have leveraged the success of a similar rental fleet application, which provided significant cost savings and operational efficiencies. Today's news highlights further acceptance of our industry leading clean water solutions in Saudi Arabia and will provide continued momentum as we head into the second half of this year and into 2018”.Read More >
Georgian Mining Corporation had risen by over 12% on the London stock exchange post the company announced that it has raised US$7 million through significantly oversubscribed placing and subscription of 34,149,638 new ordinary shares of no par value in the capital of the Company, with new and existing shareholders in the Company, at a price of 16 pence per Placing Share .
The net proceeds of the Placing will be primarily used to expand the resource development at the Kvemo Bolnisi (KB) copper and gold project in Georgia beyond the existing JORC estimate of 2.22 Mt @ 0.8% Cu and 0.1 g/t Au as well as to advance regional exploration. The Project is located on the Tethyan Belt, which is host to multiple high grade copper-gold deposits and producing mines in Turkey, Armenia, Serbia and Georgia.Read More >
On The Beach Plc. Had gained over 5% on the bourses, post the company announced that its subsidiary On the Beach Travel Ltd has agreed to acquire the entire issued share capital of Sunshine.co.uk Limited, an online travel agent based in the UK, for a total consideration of £12.0m. The consideration will be funded from the company’s cash resources and bank facilities in the form of an extension to the Group's existing working capital revolving credit facility with Lloyds Bank plc. It would be split in two parts i.e. 755 would be paid on completion and remaining 25% would be paid in December. However, the company also confirms that this would not impact the dividend policy of the company.
SDX Energy Plc. had lost over 11% on the bourses, post the company announced that that drilling on the SD-1X well at its South Disouq concession in the Nile Delta area of Egypt has now reached its second target depth. The well has now been drilled to a total depth of 11,068 ft. Hydrocarbons were present in the deeper intervals, which indicates a working petroleum system within this section. Additionally, the well confirmed both the presence and quality of the reservoir intervals within this section