An update on the Amapa iron ore project in Brazil from Cadence Minerals (LON: KDNC) helped the share price improve 18.7% to 8.25p. Permitting times for the mine and related logistics has been reduced to 12-16 months. An environmental control plan is required to obtain the permits. This will enable a funding decision for the project. Investee company Hastings Technology Metals has expanded its offtake agreement with thyssenkrupp Materials Trading, which will take two-thirds of production from the Yangibana rare earths project.
Financial services company Eight Capital Partners (LON: ECP) says its2021 figures have been restated because of a change in the accounting treatment of the bonds. Non-cash transactions have been removed from the cash flow statement. The book value of the bonds has been changed to fair value and a modified loss recognised on loan liabilities. Net liabilities were £11.4m. The 2022 results show net assets of £25.3m after a debt conversion to equity. A partial reversal of previous fair value adjustments also helped. The share price rose 2.97% to 0.026p.
FALLERS
Gathoni Muchai Investments has trimmed its stake in Marula Mining (LON: MARU) from 12.2% to 11.26%. A warrants subscription at 4p each raised £30,500. The share price fell 14.3% to 11.25p.
Invinity Energy Systems (LON: IES) has converted an existing order from Taiwan to its next generation Mistral flow battery. This is a higher margin product targeted at large wind and solar applications. Management is securing additional production capacity with Taiwan partner Everdura. The share price declined 9.2% to 39.5p.
Wine maker Chapel Down Group (LON: CDGP) slipped 7.07% to 46p ahead of the interim results on 27 September.
Coinsilium Group Ltd (LON: COIN) is providing a convertible loan of $50,000 and has a 12-month option to subscribe for $500,000 for shares in Silta at a pre-money valuation of $7.5m. This means that it could end up with 6.7% of Silta. Last year, Coinsilium entered into an early contribution agreement to buy $75,000 of SILTA tokens. Silta is developing an advanced AI platform for sustainable infrastructure financing. The share price dipped 3.7% to 1.3p.
Nigel Pope has taken a 3% stake in NFT Investments (LON: NFT). The share price edged up 1.59% to 1.55p.