Quindell signs five-year deal 22/05/2013
Software outsourcing specialist Quindell Portfolio (LON:QPP) has signed a five-year deal with a UK motor insurer, initially worth £3.5 million.
Battle-scarred Pan Pacific Aggregates (PPA) says it should start granite production before January after raising £1.1 million at a discounted 0.5p.
Based in British Columbia and quoted on AIM, PPA, which is emerging from a series of setbacks and upheavals, is now in a position to move its Pumptown granite quarry into production this quarter, declares managing director William Voaden. KC Investments, a vehicle for City dealer Keith Catchpole, has taken nearly a fifth of the placing and VSA Capital, an investment firm headed by Voaden, has been granted warrants to subscribe for 0.7 per cent of the enlarged capital at 0.5p over three years.
Floated in 2005 at 88p, PPA shares collapsed all the way to 0.25p after its original project ran into local opposition and then Pumptown was bedevilled with logistical and infrastructure problems and the company fell out with its local partners. These hurdles have mostly now been overcome and PPA directors talk of target production of one million tonnes a year from Pumptown, with hoped-for gross margins of 2.65p a tonne and a chance to supply regional infrastructure projects, some related to the 2010 Vancouver Winter Olympics.
Now 0.68p, the shares have speculative potential.
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US Shale oil venture Nighthawk Energy (AIM: HAWK) has found oil at the Big Sky 4-11 well in Colorado.
Software outsourcing specialist Quindell Portfolio (LON:QPP) has signed a five-year deal with a UK motor insurer, initially worth £3.5 million.
US-focused oil and gas explorer Magnolia Petroleum (LON:MAGP) has decided to participate in another 11 wells across North Dakota and Oklahoma.
Supplier of computing platforms for gaming and slot machines Quixant (LON:QXT) has joined London's junior market.
North Sea-focused Xcite Energy (LON:XER) will sell off data worth US$15 million (£9.9 million) regarding its Bentley 9/03b-6, 6Z well.
Fiji-focused Vatukoula Gold Mines (LON:VGM) will receive £4.5 million from SCD Energy in exchange for a 19.2 per cent stake in the company.