URU Metals (LON: URU) shares are higher on news about 74.28% owned Zeb Nickel Corp that was released yesterday afternoon. Analysis of drilling shows a higher grade nickel mineralised zone below the historical resource. Deeper drilling should increase the resources grade. There will also be infill drilling on the gold discovery. The share price is one-third higher at 200p.
There was a small rise in the share price of clinical communications technology developer Feedback (LON: FDBK) on Tuesday when it reported its interim results, but today it has jumped 19.1% to 146.5p. Progress has been slow but there are signs that it could accelerate. The £450,000 contract with a Sussex community diagnostic centre is up for renewal and should be worth much more when it is renewed. Other NHS trusts are showing interest in the company’s services. There was cash of £9.23m at the end of November 2022, so Feedback can finance further development and cover losses.
Deltic Energy (LON: DELT) says that there is a 300bcf gas discovery on Shell-operated Pensacola well in the southern North Sea, where it has a 30% working interest. Management will decide whether to fund further development or sell the interest. The share price rose 16.7% to 3.15p.
Training and software services provider Pennant International (LON: PEN) confirmed that it was profitable in 2022 even though revenues declined. Gross margins improved because software revenues are a greater proportion of revenues. Net debt has fallen to £400,000 and there should be net cash by the end of 2023. The order book is worth £25m.The share price recovered by 14% to 32.5p.
Chain and transmission equipment supplier Renold (LON: RNO) has sparked an upgrade with its latest trading statement. In the 10 months to January 2023 trading has continued to be strong. Sales growth was 17%. Even excluding the major military contract, order intake was more than one-fifth higher. The 2022-23 earnings forecast has been raised by 6% to 4.8p a share. The share price moved up by 10.4% to 27.05p.
Online fashion retailer Sosandar (LON: SOS) is raising £4m at 22p a share and up to £500,000 more from a retail offer. The retail offer closes on 16 February. The share price slipped by 12.9% to 23p. This cash will finance higher stock levels for third parties, including Sainsbury, and further investment in building up the customer base.
A placing by kidney diagnostics developer Renalytix (LON: RENX) has generated £16.9m at 90p a share or $2.17 for an American Depositary Share, which represents two shares. The majority of the cash will be used for clinical product development and marketing. The share price fell 10.2% to 110p.
Laundry technology developer Xeros Technology (LON: XSG) will report a higher than expected loss for 2022. This is due to the timing of milestone payments and restructuring costs. Cash is lower than forecast at £6.5m. Cash burn should reduce from £500,000/month this year. finnCap still assumes that Xeros Technology can become profitable in 2025. The share price declined by 7.14% to 4.55p.