Valereum (LON: VLRM) says the takeover of the Gibraltar Stock Exchange will go ahead in September. In the middle of September, a US fund is due to provide funding of £5m-£8m in two tranches. Trading in the shares has been suspended ahead of the publication of an admission document, which is likely to be in early October. Prior to suspension, the share price rose 31.6% to 3.75p.
Fibre optic cables materials supplier Unigel Group (LON: UNX) reported a dip in interim revenues from £18.8m to £18m, even so pre-tax profit jumped from £442,000 to £852,000 due to lower overheads. There was a £244,000 cash inflow from operating activities. The market declined by 3% during the period because of a slowdown in 5G investment. The share price improved 3.45% to 75p. The August 2022 flotation price was 64p.
FALLERS
Two share sales, one of 10,000 shares at 1p each and another of 500,000 shares at 0.4p each, knocked 65% off the share price of Visum Technologies (LON: VIS) to 1.05p.
Ananda Developments (LON: ANA) has updated shareholders on progress. Medical cannabis plant cultivation trials have been completed. Ananda Developments is monitoring market demand for cannabis flowers and will make a decision on funding, construction and licensing of a GMP facility. The share price declined 16.7% to 0.375p.
Cadence Minerals (LON: KDNC) has warned that the Sonora lithium project licences, where it owns 30% of the entity that owns them, could be cancelled by the Mexican government because of minimum investment obligations between 2017 and 2021. Evidence of the spending may not have been submitted when required. This is subject to appeal. WH Ireland has already put a cautious value on the asset because of this uncertainty. The share price dipped 12.9% to 6.75p.
Digital assets investor KR1 (KR1) had net assets of 48.13p/share at the end of July 2023. There was income of £572,000 generated during the month. The share price fell 10% to 45p.
Marula Mining (LON: MARU) has acquired ore sorters to expand processing capacity at the Blesberg lithium and tantalum mine. Two ore sorters will cost £1.74m in total. The target production is up to 50 tonnes/day of lithium spodumene product from existing stockpiles. An agreement has been signed for an initial sale of 27.5 tonnes of high-grade material from Blesberg. The sale price is $3/000/tonne, based on a minimum grade of 6%. The company is negotiating to cancel a previous offtake agreement with Southern Jade Resources. The share price dived 8.06% to 14.25p.
IamFire (LON: FIRE) has extended the discounted capital bond held by Hawk Investments until 25 September 2023. The share price decreased 2.99% to 1.625p.