Bradda Head (LON: BHL) has updated its mineral resource estimated for the Basin sedimentary lithium project in Arizona. It has been raised by 192% to total contained lithium carbonate equivalent of 1,085kt. The grade has increased by 30% to 990ppm. This triggers a $2.5m royalty payment from Lithium Royalty Corp. The share price jumped 30.9% to 3.6p.
Anglo Asian Mining (LON: AAZ) says no technical issues with the tailings dam at the Gedabek mine or the proposed location for the new tailings storage facility. The problem has been poor communication by the company, argues report publisher Micon. This is a positive move towards restarting production. The share price recovered 10.7% to 62p.
SDX Energy (LON: SDX) says the Ksiri-21 well in Morocco has reached its total vertical depth. There will be a short period of testing, before the well is brought online. Shore has a risked NAV estimated of 19.5p/share. The share price rose 8% to 4.05p.
Phoenix Copper (LON: PXC) reported a reduced loss in the first half of 2023. There was cash of $2.75m at the end of June 2023. Management is in discussions with potential finance providers for the Empire pit. There are plans to issue up to $300m of bonds on The International Stock Exchange. The share price is 7.35% higher at 18.25p.
FALLERS
Allergy Therapeutics (LON: AGY) shares have slumped 42.6% to 1.55p, following the publication of the open offer circular. The one-for-six open offer is at 1p/share, and it is underwritten by ZQ Capital. The open offer closes on 12 October.
N4 Pharma (LON: N4P) is acquiring a controlling interest in Nanogenics, which has a lipid and peptide-based delivery system called Liptide, which has a potential product for a ophthalmology market that covers 75 million people around the world. A placing at 1p/share is raising £350,000 to fund the £250,000 investment for a 71.25% stake in Nanogenics. The stake could reduce to 63.75% if targets are met. There will also be a £50,000 loan to Nanogenics. The share price fell 32.1% to 0.95p.
ZOO Digital (LON: ZOO) has been hit by industrial action in the film and TV sector and changing spending patterns by clients. This means that 2023-24 revenues are likely to more than halve to $44m and the loss could be $13.8m. Net cash would reduce to $8m. Cost reductions should help the company to move back to profit next year. The share price dived 21.2% to 41p.
Shield Therapeutics (LON: STX) has secured $20m of debt and it is raising $6.1m from a share issue with up to $1.4m to come from a REX retail offer. The shares are being issued at 8p each and the offer closes on 4 October. Accrufer prescriptions numbers are growing, but it will take until late 2024 at the earliest for the company to reach cash breakeven. Monthly cash burn is currently $3.3m. The share price slipped 18% to 8p.
Ex-dividends
Alumasc (LON: ALU) is paying a final dividend of 6.9p/share and the share price slipped 5p to 190p.
Advanced Medical Solutions (LON: AMS) is paying an interim dividend of 0.7p/share and the share price rose 2.1p to 198.1p.
TJ & JH Braime (LON: BMT/BMTO) is paying a dividend to both types of share of 5.25p/share and both share prices were unchanged at 1425p and 1850p respectively.
Central Asia Metals (LON: CAML) is paying an interim dividend of 9p/share and the share price declined 11p to 188p.
Duke Royalty (LON: DUKE) is paying a dividend of 0.7p/share and the share price declined by 0.25p to 33.5p.
Epwin (LON: EPWN) is paying an interim dividend of 2p/share and the share price fell 2p to 67p.
Fevertree Drinks (LON: FEVR) is paying an interim dividend of 5.74p/share and the share price slipped 20p to 1186p.
FIH Group (LON: FIH) is paying a final dividend of 5.3p/share and the share price is unchanged at 242p.
Fletcher King (LON: FLK) is paying a final dividend of 0.75p/share and the share price is unchanged at 40.5p.
Fintel (LON: FNTL) is paying an interim dividend of 1.1p/share and the share price is 2.75p lower at 187.25p.
FRP Advisory (LON: FRP) is paying a final dividend of 2.05p/share and the share price rose 1.5p to 116.5p.
Good Energy (LON: GOOD) is paying an interim dividend of 1p/share and the share price is unchanged at 172.5p.
Gateley (LON: GTLY) is paying a final dividend of 6.2p/share and the share price is 3p lower at 151p.
Litigation Capital Management (LON: LCM) is paying a final dividend of 2.25p/share and the share price is 4p lower at 104p.
Mercia Asset Management (LON: MERC) is paying a final dividend of 0.53p/share and the share price dipped 0.8p to 24.2p.
PHSC (LON: PHSC) is paying a final dividend of 1p/share and the share price is down 4p to 18.5p.
Uniphar (LON: UPR) is paying an interim dividend of 0.64 cents/share and the share price fell 9p to 203p.
Van Elle (LON: VANL) is paying a final dividend of 0.8p/share and the share price is unchanged at 42.5p. Wynnstay Group (LON: WYN) is paying an interim dividend of 5.5p/share and the share price declined 2.5p to 400p.