Simulation training provider, SimiGon, has won a major contract with the armed forces of an unnamed South American country. The firm's "SIMbox" platform will be used by its local partner, a newly formed government-owned company, to develop training and simulation solutions for the military. SimiGon's stock had risen 20pc by 11:50.
Software Radio Technology, which develops automatic identification systems, has shipped the first batch of a major $3.7m order. The identifiers will be used to improve safety and security in central America as part of a US government supported programme. Chief Executive, Simon Tucker, said: "Our supply chain team has done an outstanding job to quickly ramp up production of Identifiers from zero to thousands in a matter of only a few months, whilst still maintaining the required quality." The stock had risen 1.6% by 12:14.
US focused gas explorer, Silvermere Energy, says a weakened gas price presents it with 'material threats'. The company is currently developing a site offshore Texas. In the six months to the end of June losses incurred in setting up the project amounted to £672,000. As the interim statement emphasises: "The period was characterised by declining gas prices in the US, with spot market prices at one point falling below US$2.00 per thousand cubic feet." The company now says it is looking at diversifying into oil assets.. The shares were down 8% at 11:46.
