24th Dec 2020. 8.53am

Regency View:

Update & Festive Opening Hours

Regency View:

Update & Festive Opening Hours

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AIM Investor Performance – please click to view

Pan African production in-line with expectations

Pan African Resources (PAF) released a robust set of production numbers last week…

The South African gold miner expects to produce approximately 97,000oz for the six months ending 31 December 2020, and is on track to meet its production guidance of approximately 190,000oz (2019: 179,457oz) for the 2021 financial year.

In a separate statement, Pan African said it planned to build a 10 Megawatt (Mw) solar power plant at its Evander Mines operation in South Africa. The project would cost R140m (£7m) and be the first of its kind in South African mining. Construction will commence in the first quarter of 2021, with first power expected in the third calendar quarter of 2021.

The shares have kicked into-gear in recent weeks, helped by weakness in the US dollar which has sent gold prices higher. Whilst the shares could not break resistance at 27.25p, Pan African’s long-term uptrend looks to be back on track.

PAF Daily Candle Chart

PAF Daily Candle Chart

Cohort H1 Adjusted Operating Profit Up 8%

Cohort (CHRT) released a solid set of interim numbers earlier this month…

The defence tech specialists saw operating profit increase 8% to £4.3m (2019: £4.0m) and earnings per share climb 12% to 7.74 pence (2019: 6.94 pence).

Whilst revenue fell by 10% to £54.4m (2019: £60.2m), their order intake jumped 15% to £89.2m (2019: £77.2m) – taking the order book to £218.5m (30 April 2020: £183.3m).

Commenting on the results, Nick Prest CBE, Chairman of Cohort plc said:

“Cohort delivered an improved adjusted operating profit in the first half compared to the same period last year, despite lower revenue.  This was due to improved performance at MASS and a return to profit at SEA, partially offset by weaker performances at Chess and MCL.

Our order book of £218.5m provides solid underpinning for the second half and beyond.  In line with our experience over the last few years we expect a much stronger performance in the second half, though we still need to win and deliver some important orders to achieve our targets for the year.

The acquisition of ELAC SONAR represents a significant expansion, adding a profitable and growing sixth stand-alone business to Cohort’s portfolio and we expect ELAC SONAR to be earnings enhancing next financial year. Overall, the Board expects that Cohort’s performance in 2020/21 will be in line with market expectations.”

CHRT Daily Candle Chart

CHRT Daily Candle Chart

Spectra raises stake in Solaris and renews contracts

Authentication software provider Spectra Systems (SPSY) announced last week that it had increased its stake in Solaris Biosciences Inc to 49% from 4.8% for USD700,000.

The market’s reaction to the news has been somewhat tepid since the increased investment in Solaris will not be immediately earnings enhancing.

However, in a separate statement, Spectra announced that it had renewed contracts with two US state lottery customers for nine and ten-year terms respectively. The aggregate value of contracts stands at $1m over the full term, with potential to earn an additional $250,000 from software work plans.  

SPSY Daily Candle Chart

SPSY Daily Candle Chart

Festive Period Opening Hours  

Thursday 24th December – OFFICE CLOSES AT 12.30pm

Friday 25th December (Christmas Day) – CLOSED

Monday 28th (Bank holiday in lieu of Boxing Day) – CLOSED

Tuesday 29th December – USUAL OFFICE OPEN HOURS

Wednesday 30th December – USUAL OFFICE OPEN HOURS

Thursday 31st December – OFFICE CLOSES AT 12.30pm

Friday 1st January (New Years Day) – CLOSED

Monday 4th January – USUAL OFFICE OPEN HOURS

From all of the team at AIM Investor, we would like to take this opportunity to wish you Merry Christmas and Best Wishes for 2021.


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