Gaming content provider Mobile Streams (LON: MOS) says the Mexican casino and sports book business, where it has a 22.7% stake, has completed the beta phase and onboarding of VIP clients will begin. Chairman Bob Moore has left the company. John Baker will be interim chairman. The share price soared 46.3% to 0.1075p – the highest level for nearly 12 months.
Rockfire Resources (LON: ROCK) has increased the size of the resource at the Molaoi zinc lead silver germanium deposit in Greece by 500%. The JORC 2012 compliant mineral resource estimate is 15 million tonnes at an average grade of 9.96% zinc equivalent. Allenby estimates that it is one of the top 20 undeveloped zinc prospects. There is also 4.8mt of germanium. There are high recovery rates. Only 2.1km of the 7km potential strike has been tested so far. Allenby estimates a fair value of 2.6p/share. The share price is 34.4% higher at 0.215p.
Industrial investment company CEPS (LON: CEPS) improved interim pre-tax profit from £977,000 to £1.23m. All three businesses made an improved profit contribution. CEPS is keen to recommence paying dividends, but share buy backs are currently the favoured option for spare cash once revenue reserves are built up. The share price jumped 32.4% to 24.5p.
Real-time financial data provider Arcontech (LON: ARC) increased full year revenues by 7% to £2.9m and pre-tax profit improved from £1m to £1.1m. More than 90% of revenues are recurring. Net cash was £7.2m at the end of June 2024. The dividend has been raised to 3.75p/share. Pre-tax profit is set to fall this year because of investment in sales. The share price rose 26.5% to 124p, which is the highest share price since late 2021.
FALLERS
Marketing services provider Next Fifteen Group (LON: NFG) says subsidiary Mach49’s largest customer has not renewed its three-year contract. This was expected to contribute more than £80m to 2025-26 revenues to the marketing services group, That is one-eighth of the previously forecast revenues for that year. The contract loss will also hit the second half of the year to January 2025. There is general weakness in spending by technology customers. Full year pre-tax profit will be well below expectations. The interim figures will be published on 17 September. The share price slumped 49.5% to 429.5p, which is the lowest level since 2020.
It is taking longer than anticipated Invinity Energy Systems (LON: IES) even though the long duration energy storage market is growing. More time is required to develop the Mistral next-gen product to reduce costs. There is uncertainty about the timing of the recognition of revenues. The 2024 revenues were expected to be £36.3m, but it is likely to be lower. Jonathan Marren is replacing Larry Zulch as chief executive. There was £49.2m in the bank at the end of June 2024. The share price is 45.8% lower at 11.25p.
Signing up Donlim Group for a filtration technology licence did not offset the weaker trading news at laundry filtration technology developer Xeros Technology (LON: XSG). Indian licensee IFB has delayed the launch of new 9kg washing machine until next year and French environmental standards for microplastics have not been clarified. Donlim owns the Morphy Richards brand, and it will manufacture the XF3 external filter under licence from the middle of next year. The 2024 pre-tax loss estimate has been raised from £2.7m to £4.3m. William Black and Armstrong Investments have increased their stake from 6.34% to 7.3%. The share price dived 40.8% to 0.725p.
IoT technology investment company Tern (LON: TERN) has launched a one-for-nine open offer to raise up to £601,000 at 1.25p/share to make further investments and provide working capital. The share price fell 31.6% to 1.3p. The open offer closes on 20 September. NAV was 2.5p/share at the end of June 2024, but the share issue will be dilutive.