Oxford BioDynamics (LON: OBD) says the PSE prostate cancer test has completed validation in US CLIA laboratories earlier than expected. The test is available in the US and the UK, which will initially send the test to be processed in the US while accreditation is obtained in the UK. This adds to the company’s range of tests. The share price jumped 253% to 37p.
Vast Resources (LON: VAST) says a protest at its Baita Plai polymetallic mine in Romania has ended. It states the impact on production was minimal. The company will make an outstanding salary payment when a customer payment is cleared. The share price recovered 36.8% to 0.26p.
A positive AGM trading statement from Supreme (LON: SUP) has pushed up the share price of the consumer products supplier by 27.8% to 124p. The figures for the year to March 2024 are set to be significantly ahead of expectations. EBITDA guidance is raised by £3.5m to £28m-£30m. The cash position should also be stronger.
The Tertiary Minerals (LON: TYM) joint venture with Mwashia Resources covering the Konkola West project in Zambia has signed a non-binding term sheet with a mining company. The mining company will be able to earn a 51% interest in the licence by funding an initial drilling programme. This could be increased to up to 70% through spending of $6m on further exploration. Tertiary Minerals could end up with 30% of the project. The share price rose 25% to 0.1375p.
FALLERS
Cameroon-focused oil and gas company Bowleven (LON: BLVN) is still awaiting completion of the sale of a 37.5% interest in the Etinde project by New Age. Regulatory approval is required, and it is uncertain if the deal will go ahead and this means greater uncertainty for Bowleven, which has an interest in the project. Bowleven has $1.25m in cash and will need to raise more by the first quarter of 2024. The share price slid 57.5% to 0.765p, because of concerns about a heavily dilutive fundraising.
In-game advertising platform Bidstack (LON: BIDS) have licenced technology to a new company called VST, so that it can raise cash for its funding requirements. Bidstack chief executive James Draper and executive director Lisa Hau have set up VST, which is paying Bidstack a licence fee of £1.5m for the provision of technology for worldwide use for sports leagues and teams in virtual stadiums. Camila Franklin has stepped down from the Bidstack board after 12 months. Bidstack had £2.08m in cash at the end of June 2023. Revenues will fall short of expectations this year. The share price slumped 57% to 0.29p.
Shares in shell company Itsarm (LON: ITS) declined 53% to 0.775p prior to the suspension of trading on Friday. It has failed to find an acquisition, but there are two consumer-related possibilities.
UniVision Engineering (LON: UVEL) says results for the year to March 2023 will be delayed so trading in the shares will be suspended on 2 October. The CCTV company has winding-up petitions against it. The share price halved to 0.15p.