Seraphim Space Investment Trust PLC, the world’s first listed space tech fund, has hit a new peak.
Its shares are up 0.61% or 0.32p at 126.32p having earlier touched 127.2p.
The rise came after a surge in the share price of US group Arqit Quantum Inc, where Seraphim has just completed the purchase of a £27.3mln stake.
Arquit,a leader in quantum encryption technology designed to eliminate the threat of cyber-attack and data theft, closed 26.58% higher on Tuesday at US$31.57.
Seraphim Space bought its stake from the Seraphim Space Fund (SSF).
It intends to acquire four assets from SSF, of which this is the second.
9.14am: Zinc Media jumps after Channel 5 commissions Brits in Spain documentary
Shares in () Group PLC have brightened after the production company unveiled its largest ever series commission.
The company’s Red Sauce subsidiary, led by former BBC Factual commissioning editor Tom Edwards, has been commissioned by Channel 5 to make 52 hours of programming.
Channel 5 has ordered a series called Bargain Loving Brits in the Sun – Costa Living.
Zinc describes it thus: “This observational documentary series charts the lives of the Brits who’ve swapped the damp and grey of the UK for a new life in the UK’s most popular holiday destination, Spain.”
Interesting to see how often the word ‘Brexit’ crops up.
The commission is on top of a recently announced deal for Red Sauce to make a 10-part series commission for UKTV-owned Dave called Special Ops: Crime Squad UK. This apparently “gives viewers a unique insight into the workings of the UK’s elite police task forces.”
The deals mean Red Sauce will scale up both its London and Manchester production and development teams.
The news has seen its shares climbe 9.75% to 66.4p.
8.25am: Arc Minerals soars after ‘game changing’ discovery
Shares in () have struck it rich after the company unveiled what it called the most successful copper sulphide discovery in its history.
The company, which is focused on copper, cobalt and gold projects in Africa, said it had found massive sulphide copper mineralisation at Cheyeza East in north-western Zambia.
Similarly, at Fwiji, the fourth hole out of a four-hole programme has intersected copper sulphide mineralised quartz veins and associated alteration zones.
Nick von Schirnding, executive chairman of Arc Minerals, said: “This is the most significant copper sulphide discovery since we started drilling four years ago.
“Initial X-Ray Fluorescence data indicate significant grades of copper mineralisation – a potential game changer for us. The intersection of massive sulphide copper mineralisation at Cheyeza East provides strong support for big mineralised systems at play and provides a marker horizon for further targeting in the wider Cheyeza area. As a result of the recent discoveries we are currently reviewing and expanding our drilling and airborne geophysics programmes.”
Its shares have soared 33.53% to 4.47p on the news.
Elsewhere (, ) – developer of the large Balasausqandiq vanadium deposit in Southern Kazakhstan – has added 5.44% to 32p after it said it had started production of ferro-molybdenum and vanadium pentoxide.
In October 2020, thecCompany started to recover molybdenum in the form of calcium molybdate as a by-product during the recovery of vanadium from bought-in raw-material concentrates. Calcium molybdate was sold at a discount to the published price for the contained molybdenum. The company is now converting this calcium molybdate to ferro-molybdenum which will enable the Company to avoid the discount.
It has also commissioned the equipment to convert ammonium metavanadate (AMV) into vanadium pentoxide. Formerly, the AMV was sold at a small discount to the published price of the contained vanadium pentoxide. Some amounts will continue to be sold as AMV in order to satisfy existing contracts, but increasing amounts will be converted to vanadium pentoxide, thus eliminating the discount for AMV.
Chief executive Nick Bridgen said : “This low cost, revenue-generating step completes our current product line-up and allows us to extract the maximum value of the vanadium and molybdenum from our raw-materials. Together with our low Kazakhstan operating costs, this enables us to be amongst the most efficient producers of vanadium from secondary raw materials
“We look forward to the addition of the electric arc furnace which will complete our plans for the existing plant, the earnings from which will contribute to the ongoing development of the main Balasausqandiq project.”