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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Microfuz | MFZ | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 9.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 9.50 | 9.50 |
| Top Posts |
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Posted at 19/6/2007 13:22 by tonyx POSITIVE PROFILECORPORATE & FINANCIAL COMMUNICATIONS PRESS RELEASE Date: 19 JUNE 2006 - IMMEDIATE Contact: Peter Marks, MicroFuze International Plc +613 9824 8166 or +61 412 141 722 John Wilkes/Hugh Oram, Nabarro Wells +44 (0)20 7710 7400 Henry Gewanter, Positive Profile +44 (0)20 7489 2028 MicroFuze International Plc MicroFuze International Plc (MFZ) to make initial investment in a South African Water Treatment Company and Raise Additional Working Capital The Directors of MicroFuze International Plc ("MFZ" or "The Company") are pleased to announce that the Company has entered into an agreement with Western Utilities Corporation (Proprietary) Ltd ("WUC"), a small start-up South African-based water treatment technology company. The agreement covers the acquisition of the 100 shares (representing 100% of the issued capital) currently on issue in WUC for a nominal amount together with an option to fund the development of a pilot plant to treat acid mine drainage (toxic water) currently emanating from the mining activities of the various major mining houses based on the West Rand in South Africa. The treatment and recycling of the water has become a significant and growing issue for many of the mining houses in South Africa. Directors wish to reiterate, as recently explained, that MFZ will continue to focus its activities on the core metal diffusion technology with its current focus on boronising - having moved away from the original focus of diffusing chrome into steel. The original MFZ technology has continued to be developed and directors remain confident that it is capable of achieving its initial commercial outcomes during the current year. Whilst the focus will remain on the commercialisation and rollout of the MFZ technology and identification of other potential applications for the technology, the South African water treatment opportunity represents a potentially commercially attractive technology which balances and potentially de-risks MFZ from its current sole reliance on the microwave technology. As a consequence of this, the Company has also decided to raise additional capital in the amount of up to £2.5m at a price of 5.0p per share. This funding will be provided by institutional investors and will be used as general working capital to continue to fund the Company's existing technology. In addition if the Company proceeds with the option to fund the new water project, funding will over time be directed to the new project which, as stated above, is at an early stage of development. As a consequence, funding will also be milestone-based and staged over a 2 year period. The Directors believe that the continued focus on the MFZ technology and the bolstering of the portfolio with the new project represents a commercially sound strategy and in the longer term interests of all shareholders. Further details on the project will be provided in due course. ENDS. MicroFuze International plc |
Posted at 04/9/2006 09:41 by din007 Interim ResultsMICROFUZE INTERNATIONAL PLC AIM SYMBOL: MFZ September 4, 2006 MicroFuze International Plc: Interim Results for the Six Months Ended 30 June 2006 Chairman's Statement LONDON, UNITED KINGDOM--(CCNMatthew Highlights: - Successful completion of placing - Senior management and engineering team strengthened - Engineering team now in place - First commercial order for chrome diffusion - Continued development work of Microwave Diffusion Treatment ("MDT") for chrome and boron diffusion - Investment in "cool plasma" technology - Net cash position at the end of the period was Pounds Sterling 1.7 million Since the placing of MicroFuze on 13 February 2006 the Company has made progress with its development and commercial focus. Milestones achieved include the appointment of senior executives needed to provide the required leadership and expertise to direct the Company towards future growth and commercialisation. MicroFuze's first commercial order and investment in new technologies further demonstrate the Company's focus in commercialising surface engineering solutions using microwaves. Results Summary The loss on ordinary activities for the period ended 30 June 2006 was Pounds Sterling 989,000 or 0.66p per share. This loss is inclusive of exceptional items totalling Pounds Sterling 421,000, being Research and Development in respect of ongoing projects. During the period Pounds Sterling 3,010,000 was raised through the issuance of ordinary shares at a cost to the company of Pounds Sterling 445,000. The net cash position of the company as at 30 June 2006 was Pounds Sterling 1,712,000. As was announced in our trading update of 25 August 2006 the revenues for the financial year ended 31 December 2006 will not meet expectations. This is as a result of delay in the scale up and purchase of a production microwave. As a consequence the Company is continuing to preserve its cash. |
Posted at 25/8/2006 20:14 by din007 Trading UpdateTrading Update MicroFuze International plc (AIM: MFZ) a provider of innovative surface engineering technology announces the following trading update. The Company has made progress in the roll out and commercialisation of its microwave diffusion technology as was announced in our first order from Diffusion Technologies. However as a result of the delay in the scale up and purchase of a production microwave your Directors foresee that it will not now be possible to achieve market expectations of sales or profit for the full year to 31 December 2006 and in consequence cash balances at year end are also likely to be lower than expected. The Board however remains confident in the successful commercialisation of the microwave diffusion technology as the Company works with its customers to provide solutions for their applications. Furthermore, MicroFuze is proactively looking to acquire complementary technologies in order to accelerate sales, gain access to new markets and strengthen its intellectual property portfolio. |
Posted at 24/4/2006 13:39 by learntlesson Spiv - my comment about being not totally comfortable about MFZ prospects is to explain why I only wanted 10k shares - not because of it. I wouldn't risk £10k on this. More orders is what I want to see first. |
Posted at 20/4/2006 08:07 by andypace FIRST COMMERCIAL ORDER FOR MICROFUZE INTERNATIONAL PLC (MFZ) MicroFuze International plc has won its first commercial order following its AIM flotation in February 2006. Diffusion Technologies, Inc. of Saraland, Alabama is to use MicroFuze's US subsidiary, Tesla USA Inc., to chrome diffuse 80,000 studs for use in the pulp and paper industry. The studs are welded into the black liquor cooling panels to reduce corrosion and erosion in heat exchange boilers. Diffusion Technologies is an industry leader in the maintenance of black liquor boilers for energy extraction and a tier one supplier to the pulp and paper industry. Diffusion Technologies is already testing Tesla's microwave treated products and finds significant advantages in using microwave treated products over conventional diffusion. The microwave diffusion of chrome for studs takes place within a few hours, replacing conventional processes that take several days, and make products that are more consistent in quality and superior in welding characteristics. Tesla will process the order through its existing microwave installation in Chattanooga, Tennessee starting immediately. MicroFuze is confident that this order will be followed by several more, increasing in size as the new, larger and more efficient commercial production microwaves are commissioned. Doug Parrish, Chief Executive Officer of MicroFuze, added: "I'm delighted to sign our first contract so soon after our recent flotation. This exciting new technology has already attracted the attention of some of the world's leading multinational companies in key industries including automotive, chemical, defence, health, power generation, textiles and aviation and I'm looking forward to announcing more contracts and the commission of new microwaves soon." Fred Pace, Vice President of Diffusion Technologies, said, "We've already tested Tesla's early prototype studs and know that these products are easier to weld. Micrographic analysis confirms less porosity and decarburisation, which gives us confidence that diffused studs from a microwave will exhibit superior wear characteristics. I am looking forward to increasing my order with Tesla once they bring on larger commercial microwaves." |
Posted at 26/3/2006 00:44 by din007 Found this on "Grwoth Company Investor"MicroFuze rides the waves An even more recent newcomer, having completed its own £2.5 million fundraising and flotation on 13 February, is MicroFuze International, another hi-tech industrial hopeful. Using technology first developed by the US Department of Energy, MicroFuze's offerings utilise microwaves to create metal alloys a process chief executive Doug Parrish reckons holds a clear edge over more established alternatives. 'There are three main advantages,' Parrish elaborates. 'The first is price. The second is the improved properties of the alloys produced, which are easier to weld because microwaves don't change the cell structure of the base metals. The third is that it's cleaner than other technologies as you don't have to use the same chemicals to force a reaction and you're not left with residual acid baths that then have to be disposed of.' Although at an even earlier stage than SPI in terms of development, Parrish notes that 'we own a worldwide licence over the process, except in the US where they don't grant licences' and says the company now plans to increase awareness of its product. 'We've worked in stealth for four years but now we need a marketing arm and a production arm,' hence the move to AIM. The cash, reasons Parrish, should afford the company two years to get things right. That said, MicroFuze has still to generate significant revenues and, as a result, all but the hardiest of investors should just watch and wait for now. Elliott Davis |
Posted at 16/2/2006 10:57 by spiv 1 Yep will probably go for a few of the oil pre ipo also although I think we are a few weeks away on that one yet. I think I'll ring Cornhill today and find out who was selling in mfz recently. |
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