Cadence Minerals (LON: KDNC) jumped 27.8% to 8.5p with the gain coming ahead of the announcement by investee company European Metals Holdings (LON: EMH) that the European Bank for Reconstruction and Development is going to invest €6m in the development of the Cinovec lithium project in the Czech Republic operated by acquiring 12.3 million shares in at 42.3p/share. The cash will fund pre-development work up to completion of the definitive feasibility study. Cadence Minerals owns 6.5% of European Minerals Holdings.
Arbuthnot Banking Group (LON: ARBB) shares rose 11.6% to 1055p following interim results. The higher interest rates and focus on specialist lending are helping with the profit improvement. Credit risk is being tightened and loan growth has been slower than expected. Pre-tax profit improved from £3.4m to £26.4m, which is more than three-fifths of the full year forecast of £43m. Rises in deposit interest rates will catch up with lending rates in the second half. The interim dividend is raised from 17p/share to 19p/share.
Western Selection (LON: WESP) has sold its stake in AIM-quoted Kinovo (LON: KINO). There were 3.68 million shares sold at 40p each. The Western Selection share price moved up 11.1% to 50p.
Wishbone Gold (LON: WSBN) says that the gravity survey of the Cottesloe project has defined a base metal anomaly of 2.5km with anomalous rockchip and soil results extending the strike to 8km. The share price moved ahead 6.25% to 1.7p.
NFT Investments (LON: NFT) has cancelled its share premium and this will enable the proposed tenders offer to go ahead. The share price rose 3.03% to 1.7p.
Chapel Down Group (LON: CDGP) says interim sales grew 21% to £8.37m with particular growth for sparkling wine. Market share is being gained and there should be a strong harvest this year. The share price edged up 3.03% to 34p.
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Fallers
Valereum (LON: VLRM) has agreed a revised timetable for the acquisition of the Gibraltar Stock Exchange. The payment for the second tranche will be £750,00 and the extended closure date is 31 August. The share price fell 5.97% to 4.25p.
SulNOx Group (LON: SNOX) has secured a new shipping trial with Teekay and Forecast Technologies, which is owned by a New York Stock Exchange listed company, for its SulNOxEco Fuel Conditioner. The share price dipped 2.5% to 19.5p.
Invinity Energy Systems (LON: IES) expects to recognise income of at least £13m in the first half of 2023. There is a significant order book. The share price fell 1% to 50p.