Maximise your savings before the end of the tax year with a stocks and shares ISA

Posted on 21st March 201921st March 2019 by shardadmin

This article is not advice or a recommendation to buy, sell or hold any investment. All trading involves risk. Losses can exceed deposits.

An Individual Savings Account, known as an ISA, can be a great option for an individual to maximise their savings. Up to £20,000 per tax year can be subscribed to the tax-free wrapper. And with the end of the tax year fast approaching, now is the time to act if you have not yet exhausted your ISA allowance.

A stocks and shares ISA is an attractive solution as the returns on investments can offer higher returns than alternative investments. With a stocks and shares ISA, an individual doesn’t pay income tax on any interest or dividends received within the wrapper, nor any Capital Gains Tax on investment returns. Any Income or Capital Gains received within an ISA won’t impact the annual ISA allowance.

Cash ISAs are the most popular ISA solution, although interest rates can be unattractive and sometimes offer lower interest rates than a traditional bank savings account. However, the benefit of ISA’s is that there is no ‘all in’ decision to be made. Individuals can choose to split their ISA allowance across different kinds of ISA options, meaning, they can combine a cash ISA with a stocks and shares ISA.

A stocks and shares ISA can include shares in companies, government and corporate bonds, gilts, and collective’s (unit trusts and investment trusts), allowing an individual to form a diversified investment portfolio.

In the current tax year (up to 05 April 2019) and the coming tax year, individuals can save up to £20,000 in an ISA account. However, the ISA will roll over and new subscriptions are added to the previous tax year which can result in a larger investment pot.

With considerable tax benefits and potential better returns from suitable investments, a stocks and shares ISA can offer a great solution for those looking to plan for their future or utilise savings on top of an existing pension plan. You can also plan for your child’s future by utilising a Junior ISA (JISA) which allows up to £4,128 to be subscribed in the current tax year. Whilst a stocks and shares ISA can offer enticing returns, individual due diligence is always necessary prior to any investment being made. The value of an investment may go down as well as up and you may not get back the money you invested.

We looked at a comparison between £10,000 invested, 9 years ago in a traditional bank savings account, cash ISA, and stocks and shares ISA.

The stocks and shares ISA had an annualised return of 4.41%. This was based on the FTSE 100 Index Total Return (inc dividends) and generated a £5,396 return from the original investment.
The cash ISA had an annualised negative return of -0.67% and made a loss of £650, due to inflation.
The standard bank savings account also had annualised negative return with a loss of £1,253, also due to inflation.

Information and details are correct as of 18 March 2019. Past performance is not a guide for future returns.

The Shard Capital Stockbroking team are highly experienced in portfolio management and diversification and can tailor an investment solution for an individual looking to start or grow their ISA.

If you would like more information on a stocks and shares ISA or an alternate investment solution, please contact the Shard Capital Stockbroking team.

Important Information –

This document has been prepared and issued by Shard Capital Partners LLP (“Shard Capital”), which is authorised and regulated by the Financial Conduct Authority.

This document is a marketing communication and not independent research. As such, it has not been prepared in accordance with legal requirements designed to promote the independence of investment research.

This document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities, or related financial instruments. It does not constitute a personal recommendation as defined by the Financial Conduct Authority, nor does it take account of the particular investment objectives, financial situations or needs of individual investors. The information contained herein is obtained from public information and sources considered reliable. However, the accuracy thereof cannot be guaranteed.

The information contained in this document is solely for use by those persons to whom it is addressed and may not be reproduced, further distributed to any other person or published, in whole or in part, for any purpose, at any time, without the prior written consent of Shard Capital. This document may not be distributed to any persons (or groups of persons) to whom such distribution would contravene the UK Financial Services and Markets Act 2000. Moreover, this document is not directed at persons in any jurisdictions in which Shard Capital is prohibited or restricted by any legislation or regulation in those jurisdictions from making it available. Persons into whose possession this document comes should inform themselves about, and observe, any such restrictions.

Shard Capital or its employees may have a position in the securities and derivatives of the companies researched and this may impair the objectivity of this report. Shard Capital may act as principal in transactions in any relevant securities or provide advisory or other service to any issuer of relevant securities or any company connected therewith.

None of Shard Capital or any of its or their officers, employees or agents accept any responsibility or liability whatsoever for any loss however arising from any use of this document or its contents or otherwise arising in connection therewith. The value of the securities and the income from them may fluctuate. It should be remembered that past performance is not a guarantee of future performance. Investments may go down in value as well as up and you may not get back the full amount invested. If you are unsure of the suitability of share dealing specifically for you then you should contact an Independent Financial Adviser, authorised by the Financial Conduct Authority. By accepting this document, the recipient agrees to the foregoing disclaimer and to be bound by its limitations and restrictions.

Shard Capital has in place a Conflicts of Interest Policy relating to its research and marketing communication activities, and disclosure and conflicts in general is available on request.”

Jubilee Metals Group Plc – Funding Secured for Kabwe Project and Acquisition

Posted on 21st March 2019 by emmaedwards

Jubilee is pleased to announce that it has executed a share purchase agreement for the acquisition of the Sable Zinc refinery in Kabwe Zambia. The refinery is situated immediately adjacent to the large stock piles of zinc, lead and vanadium that Jubilee has contracted from BMR Group PLC.

In making this agreement the Board is also pleased to announce that they have secured a combination of debt and equity financing to fully complete the transaction and deliver the Company’s Kabwe project.

Highlights

· Consideration for the Sable Zinc refinery is GBP 9.16 million (US$12 million) in stage payments

· The Acquisition reduces the time to build the refinery by some 18 months delivering the first metal within a year from the Acquisition

· Overall project capital to produce first metal is significantly reduced to some GBP18.32 million (US$ 24 million)

· The project will ramp up over a two-year period from 20 tonnes to 40 tonnes per hour producing significant amounts of zinc, vanadium and lead

· Jubilee is financing the Acquisition and ramp up by an equity raising of GBP11.07 million (US$14.5 million) and a secured convertible loan note of GBP6.11 million (US$8 million)

· The Kabwe project is expected to significantly enhance Company earnings on the back of three revenue producing metals

Leon Coetzer, Chief Executive Officer, says:

“I am delighted that, after months of test work, flowsheet design and refinery acquisition negotiations, we can announce the full implementation plan for the Kabwe base metal project. My team and I are looking forward to managing an implementation programme to deliver to our shareholders this outstanding project on time and in budget.

I am particularly pleased that we have been able to secure the support of large institutional funders in the equity placing which, is testimony to Jubilee’s Metals Recovery strategy and the quality of the Kabwe project”

Sable Zinc Kabwe Project (“Project”)

The combined secured funding fully funds the Acquisition as well as the project capital required to implement the Project to produce zinc, vanadium and lead from the surface material at Kabwe. The Project targets an initial processing rate of 20 tonnes per hour producing a zinc concentrate and vanadium pentoxide before ramping up to a targeted 40 tonnes per hour producing zinc metal, vanadium pentoxide and a lead concentrate. The Project targets to produce annually over 8 000 tonnes of zinc, 1 500 tonnes of vanadium and 15 000 tonnes of lead as it ramps up to full capacity over a 2-year period.

Jubilee has already secured Zambian ministerial approval for the transaction. The Minister also waived previous conditions placed on the Kabwe mining licences.

Sable Zinc Acquisition

Jubilee executed the acquisition of Sable Zinc Kabwe Limited in Zambia from two subsidiaries of Glencore plc “Glencore” for a consideration of GBP9.16 million (US$12 million) (ZAR 175.97 million) (the “Acquisition”).

The Acquisition is funded through a combination of debt and equity. Jubilee secured a convertible loan note for GBP6.11 million (US$8 million) (ZAR 117.31 million) with ACAM LP and successfully completed a placing of 491,814,444 new Jubilee shares at an issue price of 2.25 pence per share to raise GBP11.07 million (US$14.50 million) (ZAR 212.57 million) before expenses.

The consideration for the Acquisition is payable in stages as follows:

· US$6,000,000 within 5 business days after fulfilment or waiver of the conditions precedent to the share purchase agreement (“Closing Date”);

· US$3,000,000 on the earlier of the date falling 30 days after the date of completion of the conversion of the Sable Zinc Kabwe plant to a zinc processing plant and the date falling 6 months after the Closing Date (“Second Instalment”); and

· US$3,000,000 on the earlier of the date falling 30 days after the date of commencement of commercial production and the date falling 6 months after the Second Instalment.

The Acquisition is conditional upon the fulfilment of the following conditions precedent as contained in the agreement:

· Approval and/or clearance of the transaction under the Zambian Competition Act; and

· Conclusion of an acid supply agreement for the sale of acid produced at the plant by Sable Zinc Kabwe to Glencore until such time as such acid is required for the operations of Sable Zinc Kabwe in the production of saleable products.

Project loan

Jubilee also, through its wholly owned subsidiary Braemore Holdings (Mauritius) Pty Ltd, successfully secured debt funding of GBP6.11 million (US$8 million) from ACAM LP (“ACAM”), ACAM is an affiliate of two sophisticated investors based in London and New York. The funding is secured over Jubilee’s Zambian assets, bears interest at 12 per cent per annum and is repayable in full 36 months from the date of execution of the funding agreement.

At any time that the loan is outstanding, ACAM may at its absolute discretion, by conversion notice, elect to convert the loan and all accrued but unpaid interest into 5 per cent unsecured convertible loan notes with a conversion price of 2.81 pence (ZAR 53.98 cents) (“Subscription Price”) and a maturity date which falls on the third anniversary of the Closing Date.

During the loan period, Jubilee may notify ACAM of its intention to prepay the whole of the loan balance by prepayment notice. On the date of any prepayment Jubilee will issue warrants to ACAM to a value equal to 50 per cent of the amount of the loan and all accrued but unpaid interest thereon divided by the Subscription Price.

Jubilee and ACAM have agreed to work together, without obligation from either party, to explore funding solutions for future expansion projects outside of South Africa as opportunities arise.

Equity Placing

The Company has successfully completed a placing of 491,814,444 new ordinary shares of 1 pence each (“Ordinary Shares”) in Jubilee (the “Placing Shares”) at a price of 2.25 pence (ZAR 43.22 cents) per share to raise approximately GBP 11.07 million (ZAR 212.57 million at current exchange rates) before expenses.

The placing includes the issuance of 1,473,055 warrants priced at a premium of 50 per cent of the placing price or 3.38 pence (ZAR 64.83 cents) per warrant share valid for a period of 2 years.

The Placing Shares have been issued, conditional on Admission (as defined below), as fully paid and rank pari passu in all respects with the existing ordinary shares, including the right to receive all dividends and other distributions declared on or after the date on which they are issued. Application will be made for the Placing Shares to be admitted to trading on AIM and to be listed on the AltX of the JSE Limited, which is expected to take place on or about 28 March 2019 (“Admission”).

Following Admission, the Company’s total issued share capital will comprise 1,855,300,673 Ordinary Shares. As the Company does not hold any Ordinary Shares in treasury, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company following Admission.

The combined Loan and Placing ensures that the Kabwe project is fully funded to reach its operational targets. The funding was successfully secured in partnership with the Company’s lead arranger RiverFort Global Capital Ltd and its corporate broker Shard Capital Partners LLP with assistance from WH Ireland.

United Kingdom

21 March 2019

Contacts

Jubilee Metals Group PLC

Colin Bird/Leon Coetzer
Tel: +44 (0) 20 7584 2155 / Tel: +27 (0) 11 465 1913

Corporate Adviser

RiverFort Global Capital Ltd

Brian Kinane

Tel: +44 (0) 753 496 7789

Corporate Broker

Shard Capital Partners LLP
Damon Heath/Erik Woolgar
Tel: +44 (0) 20 7 186 9900

Nominated Adviser

SPARK Advisory Partners Limited
Andrew Emmott/Vassil Kirtchev
Tel: +44 (0) 203 368 3555

JSE Sponsor

Sasfin Capital (a member of the Sasfin group)

Sharon Owens
Tel +27 (0) 11 809 7500

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Jubilee Metals Group Plc – General Operations and Projects Update

Posted on 21st March 2019 by emmaedwards

Highlights

· Company continues to grow

· PlatCro Chrome operation acquired in January 2019 already contributing to group earnings ahead of schedule of GBP0.9 million (ZAR16.06 million) combined for January and February 2019

· The PlatCro PGM project accelerates deliveries of PGM containing material to Northam’s Eland platinum concentrator, scheduled to commence PGM recovery and refining during May 2019

· Jubilee completes commissioning and bringing into operation of industry first DCM fine chrome plant delivering saleable chrome concentrate to the market

· The Hernic project continues to deliver strong earnings combined for January and February 2019 of GBP1.10 million (ZAR19.69 million)

1= * 6 Element Platinum Group Metals

Leon Coetzer, Chief Executive Officer, says:

“The period has been remarkable both operationally and financially for Jubilee leading to a solid South African platform which precedes our targeted growth into base metals in Zambia.

Jubilee has continued to demonstrate its ability to deliver projects on-time and in budget. The quarter to date has delivered major growth in both our South African chrome and PGM operations.I am particularly pleased with the team’s performance at PlatCro Chrome delivering positive earnings ahead of schedule of GBP0.90 million during the months of January and February 2019.

The progress is testimony to the operational excellence and tenacity of the Jubilee team.

We continue to consolidate our projects to further advance earnings and fast track our expansion plans both within and outside of South Africa.”

PlatCro chrome and PGM project

Jubilee completed the acquisition of its PlatCro chrome project in January 2019 and delivers positive earnings ahead of projections for January and February of GBP0.90 million (ZAR16.06 million).

The PlatCro PGM project accelerated deliveries of the PGM containing material to Northam’s Eland platinum concentrator, scheduled to commence PGM recovery and refining during May 2019. The project targets to process up to 60 000 tonnes per month of PGM material equating to a production potential of 30 000 PGM ounces per annum which equals the current Hernic PGM operation.

DCM fine chrome project

The DCM fine chrome plant was brought into production during January 2019 and ramped up to reach commercial production levels during March 2019. The project is the first of its kind in the industry targeting the recovery of the super fine chrome component currently lost to tails by the chrome industry. The DCM plant holds a capacity to process up to 25 000 tonnes per month of chrome containing tailings material. Jubilee will target to roll-out this process to its other operations.

Hernic project

The Hernic operation continued to deliver strong earnings despite a delayed start-up following the December break and the challenges posed by increased power outages from the South African power grid. The Company expects production to return to previous levels from March 2019. Hernic delivered operational earnings of GBP1.10 million for January and February 2019. The Company expects to further grow the earnings potential as its targets to increase delivery of feed material to the operation.

United Kingdom

20 March 2019

Contacts

Jubilee Metals Group PLC

Colin Bird/Leon Coetzer
Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913

Nominated Adviser

SPARK Advisory Partners Limited
Andrew Emmott/Vassil Kirtchev
Tel: +44 (0) 203 368 3555

Corporate Broker

Shard Capital Partners LLP
Damon Heath/Erik Woolgar
Tel +44 (0) 20 7 186 9900

JSE Sponsor

Sasfin Capital (a member of the Sasfin group)

Sharon Owens
Tel +27 (0) 11 809 7500

Ashley Boolell gives an update on the global Commodities market

Posted on 20th March 201920th March 2019 by shardadmin

Ashley Boolell, Partner at Shard Capital Commodity Derivatives gives an overview of the March Commodities report, and what affect Brexit may or may not have on the global market.

Watch his full overview

For more information on Shard Capital Commodities, please contact Ashley Boolell on 0207 186 9921 / ashley.boolell@shardcapital.com

WideCells Group Plc – New Media Business Created

Posted on 18th March 2019 by emmaedwards

WideCells is pleased to announce that it has created a division encompassing a new media and technology business focussed on providing online marketing, content and technology driven products. The Board intends to propose a change of name of the Company to Iconic Labs plc.

To this effect, two new executive directors are joining the Board with immediate effect: John Quinlan as CEO and Liam Harrington as CBO who were instrumental in growing UNILAD into the world’s most viewed and largest social first publisher. The Company has also appointed additional non-executives, to bring important strategic insights, details of which are below.

Highlights

· New media and technology business focused on providing online marketing, content and technology driven products

· Experienced management with proven track record drawn from key individuals at UNILAD, the world’s largest social media publisher

· Cash flow focussed business model with pre-identified contracts, an identified path to profitability and exceptional growth prospects

· Taking advantage of structural change in the online market through proprietary technology and the team’s exceptional insights and network

· Well positioned and with funding to enable rapid organic growth and active roll-up strategy

· Substantial historic liabilities in the process of being settled and resolved

Executive Chairman, David Sefton, said: “Iconic Labs represents an exceptional opportunity for this Company. The skills and experience of the team in the new media marketing space, as shown through their track record at UNILAD, the world’s largest social first publisher, can deliver an exciting and uniquely positioned business. The growth of this market is accelerating at an unprecedented pace; global mobile ad spend is projected to increase from US$138 billion in 2018 to US$212 billion in 2021. The team has the model to capitalise on this.

“We are also highly focused on shareholder returns and value creation and have worked with the team to develop a robust plan which manages costs, so that they are driven by increases in revenue whilst at the same time maintaining high growth. Both the Board and the team are committed to achieving net positive free cashflow this year. Finally, we will continue to support the development of the stem cell services business from a solid footing and will invest on a scheduled, drip fed basis, against achieving milestones on a new, careful development plan and at the same time resolving substantial historical liabilities built up by Wide Cells. Iconic Labs can also help with the education and information challenges of Wide Cells.”

New Iconic Labs CEO John Quinlan said: “We understand how to build a business and generate revenue in the new media space. We have a unique proposition, in an extraordinarily high growth area. On the back of revenue growth from pre identified contracts in our Agency Consultancy division, we will roll-out a range of services, content and cutting-edge technology that target future generation audiences and establish a leading position in the new media sector. Exciting times are ahead; we’re going to grasp every opportunity to build a business that creates value for our clients, ourselves and our shareholders.”

OVERVIEW

Iconic Labs is a new media and technology business focussed on providing online marketing, content and technology driven products to allow companies to increase consumer engagement and create iconic brands. Leveraging the team’s unique knowledge and expertise of content and technology gained from their time at UNILAD, which achieved revenues in excess of £10 million per annum, the Company aims to deliver best-in-class consultancy advice, products, content, marketing and distribution for its clients.

Iconic Labs operates in a dramatically growing market which is driven by several key changes within the industry: consumer habits shifting to digital and social from TV and print; increasing numbers of distribution platforms all fighting for premium content to attract audiences; and traditional agencies struggling to adapt to client demands and new technologies. As examples, global mobile ad spend is projected to increase from US$138 billion in 2018 to US$212 billion in 2021, while SVOD services rose from 14% of households in 2014 to 39% in 2018.

The Board has recognised the team’s key differentiators to capitalise on this space which include: its network of developers, influencers and creators within the space who understand what moves the dial to create trends; experience in consumer data interpretation and insights, and critically its understanding of technology and a platform agnostic approach that utilises all tools at its disposal, as well as its ability to identify consumer trends and what makes an app, content or product go viral.

Iconic Labs will roll-out six complementary divisions over a phased period to ensure multiple revenue streams:

· Agency Consultancy – a consultancy business advising companies looking to use social media tools and technology to better engage with consumers and key stakeholders.

· Online Publishing Brands – focused on creating, incubating or acquiring strong, distinct brands known for original content and with multi-platform distribution channels.

· E-Commerce – focused on using existing distribution channels and social media tools to sell a variety of products online.

· Content Licensing – focused on licensing User Generated Content (‘UGC’) created by users who have posted it to social media.

· Content Studio – the establishment of a production studio to create original video formats that are tested on social media and further developed for viewing on TV and Subscription Video on Demand (‘SVOD’) platforms such as Netflix.

· Tech Product Development – focused on developing unique, innovative and forward-thinking products in fast growth sectors.

The initial phase during the first 6-12 months will comprise the launch of the Agency Consultancy division, which the Board believes is quickly scalable and will drive early, high-margin, recurring revenues. As experts at utilising social media platforms and the associated tools, as well as understanding how technology drives and changes a consumer’s behaviour, this division will assist clients (via advertising agencies and directly) with creating and developing brands. This is achieved by establishing marketing and communications strategies that help build audiences and direct revenue generation and social platform monetisation. Simultaneously, the Company will build its distribution and publishing division through organic and inorganic growth, after which it will launch the Content Licensing and E-Commerce divisions followed by the video production division.

The Board believes that most businesses could benefit from Iconic Labs’ knowledge and expertise on social platforms as well as user behaviour to build market penetration. The first target clients will be those who want to attract a future generation and millennial audience as well as those which currently spend significant amounts on ineffective TV advertising, when they should be focused on social media or alternative social platforms. To this end, the team has strong relationships with key publishers and leading brands and anticipates building its client list aggressively.

The team is led by John Quinlan, who is joining the Board as CEO, Liam Harrington as CBO and Sam Asante as COO. They all have wide experience and proven track records in operating in the new media arena, particularly with UNILAD, which they were instrumental in growing into the world’s most viewed and largest social first publisher, with over 40 billion video views and 1 billion engagements in 2017.

To support this team, the Company has assembled a Board with the relevant industry, corporate and financial experience to ensure future growth, including Executive Chairman, David Sefton, and Non-Executive Director, Richard Thompson. Newly appointed Non-Executive Directors include Will Muirhead, Xavier Latil and Rodolphe Cadio.

Will Muirhead is currently Chief Executive of Rocket Sports Internet Limited, an operator of football news websites and social media accounts, Will formed his first business, SportEV, at Edinburgh University in 1999, which developed the technology to power some of the original OTT/SVOD services.

Xavier Latil is the CEO of The Blockchain Group and is a highly experienced executive and entrepreneur with experience in technology, digital communication and e-commerce, communications, marketing and publishing. He also brings considerable experience in managing high growth companies and in particular their international expansion and with his experience and network can significantly help the company and the new management team, in particular with strategic advice.

Rodolphe Cadio is a qualified accountant with considerable board level experience, including currently at Intrasense, Eyelixiby and Clever Cloud. Rodolphe understands the technology and media sectors and will in addition to strategic and sectoral advice, assist the management team in establishing robust and effective financial controls as well as helping to ensure that proper public company financial reporting processes are put in place.

Mr John Quinlan, aged 31, currently holds or has held the following directorships and partnerships in the last five years:

Current Directorships

Past Directorships

Surge Social

AMP Social

Golden Goose Media

Fullist Ltd

Wildfire Social

Mr Liam Harrington, aged 27, currently holds or has held the following directorships and partnerships in the last five years:

Current Directorships	Past Directorships
	Bentley Harrington Ltd

Mr Will Muirhead aged 42, currently holds or has held the following directorships and partnerships in the last five years:

Current Directorships

Past Directorships

Rocket Sports Internet Limited

Tixdaq Limited

SportEV Limited

Mr Xavier Latil aged 46, currently holds or has held the following directorships and partnerships in the last five years:

Current Directorships

Past Directorships

Apophi

The Blockchain Group

Leadmedia Group

Mr Rodolphe Cadio aged 41, currently holds or has held the following directorships and partnerships in the last five years:

Current Directorships

Past Directorships

Intrasense

Eyelixiby

Clever Cloud

Market Abuse Regulation (MAR) Disclosure – Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

**ENDS**

For further information, please visit the Company’s website www.iconiclabs.co.uk or contact:

Shard Capital Partners LLP	Broker – Damon Heath & Erik Woolgar	Tel: +44 (0) 20 7186 9950
St Brides Partners Limited	PR – Melissa Hancock & Juliet Earl	Tel: +44 (0) 20 7236 1177

Horizonte Minerals Plc – Positive Metallurgical Testwork for Vermelho

Posted on 14th March 2019 by emmaedwards

Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) (‘Horizonte’ or ‘the Company’) the nickel development company focussed in Brazil, is pleased to announce positive results from metallurgical and smelting test work on the Vermelho nickel cobalt project, located in the southern part of the Carajás mining district in Pará state, northern Brazil.

Highlights:

· Tests of Vermelho saprolite samples returned an average ferronickel grade of 31.8% nickel;

· The ferro nickel product was of high quality, being low in trace elements and meeting the commercial requirement of stainless-steel manufacturers;

· The results confirm the suitability of the conventional Rotary Kiln Electric Furnace (“RKEF”) for processing Vermelho saprolite ore.

Horizonte CEO Jeremy Martin said, “We are pleased to report the test work has confirmed that it is possible to produce high grade, commercial specification ferronickel from the saprolite and transition ore at Vermelho. These results confirm the suitability of the proposed conventional Rotary Kiln Electric Furnace (“RKEF”) process selected for the Company’s Araguaia ferronickel project is also suitable for processing Vermelho ore. In parallel the test work at SGS Lakefield on limonite samples from Vermelho to demonstrate its suitability for production of high purity nickel and cobalt sulphate to supply the EV battery markets is at an advanced stage and we look forward to reporting on the results of this work.

We currently have a prefeasibility underway for the project and the data from this test work and the work being undertaken by SGS Lakefield, will be incorporated into the study with the objective of demonstrating a robust set of economics for the selected process route.

Elsewhere we continue to advance the construction financing on the Araguaia Project. Against a backdrop of global growth in nickel consumption running at around 4 to 5% per year with stainless steel currently accounting for two thirds of demand. Going forwards and coupled with this continued growth in stainless steel, nickel use in battery chemistry is set to increase significantly. This robust demand story for nickel positions Horizonte well, owning 100% of two Tier 1 nickel projects, within trucking distance of each other with the potential to produce 40,000 to 50,000 tonnes per year of nickel.

Detailed Information

The Company carried out metallurgical testwork at Kingston Process Metallurgy Inc. (KPM) in Ontario, Canada during Q4 2018 into early Q1 2019 on representative samples of Vermelho saprolite and transition ore. After riffling and splitting, the ore samples were crushed to 2mm. A portion of this material was pulverised at approximately 325 mesh to provide samples for thermogravimetric analysis (TGA) and also chemical analysis. A sample of the crushed material was also tested for particle size distribution.

A portion of the material at 85% passing 2mm was placed in a refractory crucible and then calcined in an air atmosphere at 850⁰C for 2 hours; the calcining temperature was based on the results of the TGA testing.

Analysis of the as-received transition and saprolite ore and the calcine produced after initial testing is presented in Table 1.

Table 1. Chemical analysis of Vermelho nickel saprolite ore and calcine

Sample	Analysis, wt. % (dry basis)
Sample	Ni	Co	SiO₂	Fe	MgO	Al₂O₃	CaO	MnO	Cr₂O₃	P₂O₅	LOI	SiO₂/MgO
Ore	2.03	0.05	40.7	13.58	22.4	0.90	0.01	0.13	0.62	0.01	13.8	1.81
Calcine	2.30	0.05	46.7	15.12	25.4	1.06	0.02	0.14	0.71	0.01	1.81	1.84

Note: Generally, the assay of the calcine was consistent with the ore assay after taking into account the loss of chemical water. However, in some cases there was a slight divergence, e.g, as with Co; this difference was not considered material for the tests.

The smelting tests were carried out using a calcine charge of approximately 200 grams and a weighed amount of coal as pre-calculated for the reduction of the iron and nickel oxides in the calcined. Following furnace heat-up, smelting was carried out at 1550⁰C for a period of 2 hours with a small flow of nitrogen to provide a protective atmosphere. After this time, the furnace was allowed to cool under nitrogen, the crucible was then removed and samples of metal and slag were submitted to the laboratory for chemical analysis.

A series of tests were undertaken to produce a lower grade and a higher grade of ferronickel, with the average representing 31.8% Ni – a typical commercial grade. The analysis of metal showed low levels of trace elements (Table 3), indicating that with minimum conventional refining, the ferronickel would readily meet the requirements of commercial stainless-steel plants. It should be noted that cobalt is not payable in the ferronickel product but would be payable in high purity nickel and cobalt sulphate

Table 3. Analysis of ferronickel

Sample	Analysis, wt. % for Ni. Co, Fe, C and S, ppm for the remainder
Sample	Ni	Co	Fe	C	S	Cr	Cu	Zn	P	Si	Mn
Test 1	19.5	0.437	77.2	0.13	0.24	838	238	40	443	86	7.9
Test 2	44.0	0.881	50.5	NA	NA	61	436	276	551	NA	4.3
Average	31.8	0.66	63.9			450	337	158	497		6.1

NA=Not available

For further information visit www.horizonteminerals.com or contact:

Horizonte Minerals plc
Jeremy Martin (CEO)	+44 (0) 203 356 2901

Numis Securities Ltd (NOMAD & Joint Broker)
John Prior Paul Gillam	+44 (0) 207 260 1000

Shard Capital (Joint Broker)
Damon Heath Erik Woolgar	+44 (0) 20 186 9952

Tavistock (Financial PR)
Gareth Tredway Annabel de Morgan	+44 (0) 207 920 3150

About Horizonte Minerals:

Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil. The Company is developing the Araguaia project, as the next major ferronickel mine in Brazil, and the Vermelho nickel-cobalt project, with the aim of being able to supply nickel and cobalt to the EV battery market. Both projects are 100% owned.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION

Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, the ability of the Company to complete the Acquisition as described herein, statements with respect to the potential of the Company’s current or future property mineral projects; the success of exploration and mining activities; cost and timing of future exploration, production and development; the estimation of mineral resources and reserves and the ability of the Company to achieve its goals in respect of growing its mineral resources; the ability of the Company to complete the Placing as described herein, and the realization of mineral resource and reserve estimates. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: the inability of the Company to complete the Acquisition as described herein, exploration and mining risks, competition from competitors with greater capital; the Company’s lack of experience with respect to development-stage mining operations; fluctuations in metal prices; uninsured risks; environmental and other regulatory requirements; exploration, mining and other licences; the Company’s future payment obligations; potential disputes with respect to the Company’s title to, and the area of, its mining concessions; the Company’s dependence on its ability to obtain sufficient financing in the future; the Company’s dependence on its relationships with third parties; the Company’s joint ventures; the potential of currency fluctuations and political or economic instability in countries in which the Company operates; currency exchange fluctuations; the Company’s ability to manage its growth effectively; the trading market for the ordinary shares of the Company; uncertainty with respect to the Company’s plans to continue to develop its operations and new projects; the Company’s dependence on key personnel; possible conflicts of interest of directors and officers of the Company, the inability of the Company to complete the Placing on the terms as described herein, and various risks associated with the legal and regulatory framework within which the Company operates. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

Path Investments Plc – Withdrawal from Proposed Transaction

Posted on 13th March 2019 by emmaedwards

Further to the announcement made on 1 March 2019, Path Investments plc (TIDM: PATH), provides an update regarding the Heads of Agreement the Company entered into with ARC Marlborough Pty Limited (“ARC”) in relation to the proposed acquisition of ARC by the Company (the “Proposed Transaction”), originally announced on 18 January 2019.

As part of its preliminary steps towards a definitive Share Purchase Agreement, Path undertook initial technical, legal and corporate due diligence in relation to ARC, its directors and the mining lease ML80098 in Queensland, Australia. Following this initial work, after due Board consideration and discussion with Path’s advisers, the Company has informed ARC of its withdrawal from the Proposed Transaction.

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

***ENDS***

For further information:

Path Investments plc

Christopher Theis, Andy Yeo +44 (0) 20 3934 6630

Shard Capital (Financial Adviser and Broker)

Simon Leathers, Damon Heath +44 (0) 20 7186 9900

IFC Advisory (Financial PR & IR)

Tim Metcalfe, Heather Armstrong, Miles Nolan +44 (0) 20 3934 6630

Erris Resources Plc – Positive Metallurgical Results

Posted on 13th March 2019 by emmaedwards

Erris Resources plc, the European focused mineral exploration company with a portfolio of zinc and base metals projects in Ireland and gold projects in Sweden and Finland, is pleased to announce positive results from preliminary metallurgical test work at the Abbeytown mine project in County Sligo, Ireland.

Highlights

· Study indicated that production of a good quality, saleable concentrate can be achieved

· Flotation rougher test work indicated that good results could be achieved over a broad range of primary grind sizes, even as coarse as 80% passing 212μm

· Results demonstrated excellent recoveries including 96.2% lead and 95.8% zinc

· High silver credits identified with 448ppm silver in the lead concentrate and 340ppm in the zinc concentrate with no significant deleterious elements

· The Bond Ball Mill Work Index was 8.76kWh/t, classifying the sample as being soft with respect to grindability indicating that any potential development could enjoy favourable processing costs as it would require relatively low primary milling power requirements

· Straightforward standard flotation process can be utilised for the recovery of concentrates

Erris Resources CEO, Anton du Plessis, said, “The results of the preliminary metallurgical study at Abbeytown are very positive and show that good quality lead and zinc concentrates can be produced using a standard flotation process. Furthermore, the recoveries are excellent, the concentrate is clean with respect to penalty elements and the grindability characteristics of the mineralised sample are positive. The results further reinforce our confidence in the economic potential of the Abbeytown project.”

Further Information

The Company has received results from a preliminary metallurgical study carried out on samples from the Abbeytown zinc-lead-silver-copper project in County Sligo, Northwest Ireland. The metallurgical testing consisted of a bond mill index test and a bench flotation test performed by Wardell Armstrong in Cornwall, UK.

The sample consisted of 36.4kg of mineralised Index bed and crinoidal limestone collected from the underground workings and exposed mineralisation in the Abbeytown pit. Underground channel samples, results of which were reported on 12 September 2018, were duplicated to make up the sample. The bulk sample contained high concentrations of lead (8.36% Pb) and zinc (13.1% Zn). The sample also contained appreciable levels of silver (129g/t Ag). The concentrations of some common penalty elements in the head sample were 210ppm As, 0.12ppm Bi, 940ppm Cd, 68.4ppm Co, 3.72ppm Hg, 137ppm Ni and 158ppm Sb.

Flotation rougher test work indicated that good results could be achieved over a broad range of primary grind sizes, even as coarse as 80% passing 212μm; recoveries were generally excellent (>90%) to high-grade rougher concentrates (>49% Pb and >42% Zn), regardless of grind size/reagent scheme. Optimum results were achieved in Test FT7, in which a lead rougher concentrate was produced assaying 69.5% Pb and 3.02% Zn at recoveries of 96.2% and 2.6% respectively, and a zinc rougher concentrate assaying 46.6% Zn and 0.61% Pb at recoveries of 95.8% and 2.0% respectively.

Kinetic analysis indicated the potential for generation of a lead flash-float concentrate. Even using a coarse primary grind of 80% passing 212μm, almost 70% of the lead could be recovered to a concentrate assaying >75% Pb after only one-minute roughing. Cleaner testing indicated no benefit to multiple stages of cleaning, with a single stage yielding saleable-grade concentrates and additional stages resulting in large losses to recovery with only very marginal upgrading; and using a primary regrind P80 of 125μm and no regrinding of the rougher concentrates, a lead cleaner concentrate was produced assaying 76.6% Pb and 2.69% Zn at recoveries of 95.7% and 2.1% respectively. A zinc cleaner concentrate was produced assaying 51.8% Zn and 0.52% Pb at recoveries of 94.4% and 1.5% respectively.

The excellent results of the preliminary metallurgy study give confidence to the Company to continue advancing the Abbeytown Project. It should be noted that this was a preliminary test and that the mineralised sample material may differ from that intersected in drilling as it contained a significant amount of Index Bed calcarenite material with no shale present in the sample. However, the style of mineralisation is similar across the Abbeytown area and consists of coarse galena and sphalerite within calcarenites, grits, limestone or shale with low amounts of associated pyrite. Mineralisation remains open to the south of the area of mineralisation reported in the final surface diamond drilling results announced on 24 October 2018 and the Company will aim to increase the known footprint of mineralisation through the identification of additional targets south of hole ERAB005 which contained 15.63% Zn+Pb combined and 90.68 g/t Ag over 4.1m located 375m south of the southernmost extent of the old workings.

The technical information in this announcement has been compiled on behalf of Erris by Aiden Lavelle and Neil O’Carroll. Aiden Lavelle (BSc (Hons), MSc, MIGI, P.Geo ) is Erris’ chief operating officer. Neil O Carroll B Eng (Chem) (Hons) is an independent mineral processing consultant and previously having held the position of Head of Metallurgy & Projects at the Lisheen mine, and having worked on various base metal deposits throughout Ireland, has sufficient experience relevant to the activity which he is undertaking to qualify as a Competent Person in accordance with the guidance note for Mining, Oil & Gas Companies issued by the London Stock Exchange in respect of AIM Companies, which outlines standards of disclosure for mineral projects. Mr O Carroll consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

*ENDS*

For further information visit www.errisresources.com or contact:

Anton du Plessis /Aiden Lavelle	Erris Resources plc	+353 (0) 94 902 8481
David Hart/Liz Kirchner	Allenby Capital (Nominated Adviser)	+44 (0) 20 3328 5656
Erik Woolgar	Shard Capital (Joint Broker)	+44 (0) 20 7186 9952
Andy Thacker	Turner Pope Investments (TPI) Ltd (Joint Broker)	+44 (0) 20 3621 4120
Isabel de Salis/Gaby Jenner	St Brides Partners (Financial PR)	+44 (0) 20 7236 1177

Notes

Erris Resources plc (EPIC: ERIS.L) is an AIM quoted, European focused, discovery driven exploration company. Supported by Canadian mining majors, Osisko Gold Royalties, which has a 18.9% interest in the Company, and Centerra Gold KB Inc, a wholly owned subsidiary of TSX listed Centerra Gold Inc., the Company has an established portfolio of zinc and base metals assets in Ireland and gold projects in Sweden, which it is looking to further build on. Led by a highly qualified team with extensive corporate and sector experience, Erris Resources’ strategy is to create shareholder value through commercial discovery of base or precious metal assets in proven mineral districts and in favourable European jurisdictions.

Suir Valley Ventures investment in holographic tech start-up VividQ

Posted on 8th March 201921st March 2019 by shardadmin

Suir Valley Ventures, the entrepreneur-led venture capital fund launched in partnership with Shard Capital Partners LLP to invest in early-stage software companies across a range of high-tech verticals including Augmented Reality (‘AR’) and Virtual Reality (‘VR’), Artificial Intelligence (‘AI’), and the Internet of Things (‘IoT’), is pleased to announce it has led a £3 million funding round in VividQ Limited – a UK-based deep tech software company pioneering the application of holography in AR/VR and consumer electronics display.

Overview

VividQ is a deep tech start-up with world-leading expertise in 3D holography. The company developed patented software to enable commercial applications of holographic display in AR/VR headsets, smartglasses, automotive head-up displays, and consumer electronics.
VividQ was founded in February 2017 in Cambridge, UK. Technical co-founders include engineers, mathematicians and computer scientists from the University of Cambridge, Oxford, and St Andrews with expertise in digital holography.
VividQ established partnerships with chipmakers, display and hardware manufacturers in the US, Taiwan and Europe, to enable mass adoption of holographic display with their patented software for hologram generation.
The AR market is expected to grow from $11 to $61 billion between 2018 and 2023, with the VR market growing from $8 to $34 billion in the same period, at CAGRs of over 30%, according to Markets and Markets. At the same time, the global display market, valued at $115.60 billion in 2017, is projected to reach $206.29 billion by 2025, registering a CAGR of 7.4% from 2018 to 2025, according to Allied Market Research.
The investment will enable VividQ to accelerate the adoption of their hologram generating software. They aim to double their Cambridge and London-based teams to implement further developments to the software framework and complete ongoing customer projects, to productise devices using holographic display in 2020.

Suir Valley Venture Managing Partner, Barry Downes, said, “We are delighted to lead the £3million investment round in VIVIDQ Limited. Darran and his team have the unique combination of the world-leading expertise and the pioneering, proprietary software technology that is the missing piece needed for the mass adoption of holography, which will radically enhance and grow the AR and digital display industry.”

VividQ’s CEO, Darran Milne, said, “Suir Valley have been great to work with, both for their professionalism and deep understanding of the companies they invest in and the technology behind them. They demonstrate the kind of vision and passion that the deep tech companies of today need to accelerate bringing truly disruptive solutions to market.”

Further Information

Founded in February 2017, VividQ is a deep-tech software company with world-leading expertise in 3D holography. With seed funding, VividQ has grown its Commercial and Technical teams in Cambridge and London, made a full release of their software framework, and secured partnerships with world-class customers including hardware and embedded systems manufacturers.

Holography has long been considered the ultimate display technology. The science fiction ideal of engineering and manipulating light to produce 3D projections appealed to the imagination of millions through franchises such as Star Wars or Star Trek. While physically possible, the tremendous computing requirements to create full-depth holographic display made it unreachable for commercial applications. Until now.

VividQ has developed solutions required for the mass adoption of holography in AR and consumer electronics. Its patented software framework allows for the real-time generation of holograms from 3D data, and projection on available micro-displays. Commercially viable holographic display solves a crucial problem of today’s AR/VR – the lack of depth perception, which disrupts the user’s sense of realism and results in eye-fatigue and nausea. Holography overcomes these issues and paves the way for immersive 3D without the need for glasses at all.

With technical co-founders leading their team out of Cambridge (UK), VividQ has benefited from the rich research environment of the University and its Centre for Advanced Photonics and Electronics. VividQ’s Commercial Team operates from London, as part of the rich entrepreneurial network of TechHub and Innovation Warehouse. The company has achieved wide recognition at international industry events including AWE, nVidia GTC, Photonics West, and Mobile World Congress.

WideCells Group Plc – Update

Posted on 6th March 2019 by emmaedwards

WideCells Group PLC, announces that, following the issuance of the Prospectus on 22 February 2019, the Company has today issued a further drawdown notice under the financing agreement entered into by the Company and the European High Growth Opportunities Securitization Fund (the “Investor”) (see RNS dated 6 November 2018), for the aggregate sum of up to £1,358,231 for which the Company shall issue bonds (“Convertible Bonds”) convertible into ordinary shares of £0.0025 each in the capital of the Company (“Ordinary Shares”) to the Investor on the following basis:

I. £893,231 to be subscribed for and paid to the Company immediately;

II. £265,000 to be subscribed for and paid to the Company on 6 June 2019; and

III. thereafter, following the 6 June 2019, one further tranche of £200,000 to be subscribed for and paid to the Company on the date which is 40 days after the 6 June 2019 (or the next business day).

The Company has also received today a further notice of exercise from the Investor in respect of the exercise by the Investor of its conversion rights under the Convertible Bonds in the principal sum of £60,000, together with a penalty payment of £90,000, resulting in the issue to the Investor of 60,000,000 new Ordinary Shares (“Conversion Shares”).

The Company has agreed, subject only to Admission (as defined below), to issue the Conversion Shares and accordingly application will be made for the Conversion Shares to be listed on the Standard segment of the Official List of the UK Listing Authority and to trading on the Main Market for listed securities of the London Stock Exchange plc (“Admission”).

Admission is expected to take place on 11 March 2019. The Conversion Shares will rank pari passu in all respects with all existing Ordinary Shares.

Following Admission of the Conversion Shares, the Company’s enlarged issued share capital will compromise 211,352,698 Ordinary Shares with voting rights. The Company does not hold any shares in treasury. The figure of 211,352,698 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.

Market Abuse Regulation (MAR) Disclosure – certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

**ENDS**

For further information, please visit the Company’s website www.widecellsgroup.com or contact:


Shard Capital Partners LLP	Broker – Damon Heath & Erik Woolgar	Tel: +44 (0) 20 7186 9950
St Brides Partners Limited	PR – Melissa Hancock & Isabel de Salis	Tel: +44 (0) 20 7236 1177