Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Vast Resources Zimbabwe diamond update
There’s a short update out today from Vast Resources [LON:VAST] who have been battling a case to recover a parcel of diamonds from the Zimbabwean central bank. Back in February the High Court mandated that the assets were to be returned to Vast as the rightful owner, but progress has been incredibly slow. Today’s update – the first in around six weeks – notes that as a result of elections in the country it has been unable to conclude the deal, something which may result in yet more of those gains from the original ruling being further eroded.
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#2. Wishbone Gold’s positive early results from Australian drilling
Wishbone Gold [LON:WSBN] has provided a drilling update from its Cottesloe project in Western Australia. This has confirmed the significant mineralisation potential of the asset, with multiple elements being identified. Drill chips have been sent for further analysis and results will be due in 6-8 weeks time.
#3. Deltex Medical’s new tech expected to be revenue generating by year end
Deltex Medical Group [LON:DEMG] has interims to 30th June out today. Revenues are down around 10% but losses have been trimmed marginally. After what management describe as a challenging first half, the company managed to raise almost £2m in cash in August and use some of the proceeds to streamline the cost base by reducing headcount. There have been delays in launching the company’s new TrueVue monitor which has now been launched into UK and EU hospitals for final evaluation. This is expected to be revenue generating by the end of the year.
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