Main Market miner Hamak Gold (LON: HAMA) has sold its 10.1% stake in Vela Technologies (LON: VELA). These are the remaining shares used to pay for £300,000 of convertible loan notes. The deemed issue price was 0.012375p/share. The Vela Technologies share price has recovered 27.3% to 0.007p.
Iron treatment provider Shield Therapeutics (LON: STX) says it will hit the 2024 target revenues of $31.5m, up from $13.1m, as revenue peer prescription has increased. Recruitment has been completed for an Accrufer phase III study in China. The proposed $10m investment by AOP Health still requires shareholder approval. Costs are being lowered by 10%. Cash flow breakeven should be hit by the end of 2025, if the sales growth momentum continues. The share price rebounded 21.5% to 3.25p.
Airline and tour operator Jet2 (LON: JET2) had a successful summer with first half operating profit improving from £617m to £701.5m. This was better than expected. The interim dividend is 10% higher at 4.4p/share. More than 80% of revenues come from holidays and consumers continue to spend on them. Winter sales are 14% ahead, which suggests market share gains. Canaccord Genuity has raised its full year pre-tax profit forecast from £535.5m to £563.9m. The share price rose 6.06% to 1504p.
Atome (LON: ATOM) says that the IDB proposes to increase its debt funding for the 145MW Villeta fertiliser project in Paraguay to $200m. Environmental and social appraisal has been completed. This means that all the proposals for debt funding outstrip the requirements for the project, although they have not been signed up yet. The share price increased 5.88% to 54p.
FALLERS
Nostra Terra Oil & Gas (LON: NTOG) raised £500,000 at 0.023p/share. This will fund the continuation of a major workover at the Pine Mills asset covering a further four wells. This will boost cash flow from operations. The share price slipped 37.3% to 0.0235p.
Proton Motor Power Systems (LON: PPS) is still falling after it confirmed yesterday that it is going ahead with winding down and leaving AIM. The company has net liabilities. The share price declined 10.4% to 0.145p.
Cambridge Nutritional Sciences (LON: CNSL) reported a 16% decline in interim revenues because of previous stockpiling by customers, but the diagnostics and health company still moved into positive EBITDA – although there was a pre-tax loss. Gross margins are improving, and overheads reduced. Cavendish has cut its full year forecast revenues from £9.4m to £8.8m, but the full year loss is still expected to be £200,000. The share price fell 10% to 3.15p.
Cornish Metals (LON: CUSN) is progressing the NCK shaft refurbishment at South Crofty tin mine. There is cash of £7.1m, including a £7m facility provided by 26% shareholder Vision Blue, which is repayable in March. This will have to be replaced by new financing. The plan is to be producing tin by 2027. The share price is 6.1% to 7.7p.
Ex-dividends
Cake Box (LON: CBOX) is paying an interim dividend of 3.4p/share and the share price dipped 7.5p to 192.5p.
Caledonia Mining Corporation (LON: CMCL) is paying a dividend of 14 cents/share and the share price is unchanged at 885p.
Cavendish Financial (LON: CAV) is paying an interim dividend of 0.3p/share and the share price is unchanged at 10.75p.
Fonix (LON: FNX) is paying a final dividend of 5.7p/share and the share price slid 8.5p to 217.5p.
FRP Advisory (LON: FRP) is paying a dividend of 0.95p/share and the share price is unchanged at 159p.
Jarvis Securities (LON: JIM) is paying a dividend of 1p/share and the share price fell 0.5p to 52p.
Tatton Asset Management (LON: TAM) is paying an interim dividend of 9.5p/share and the share price declined 6p to 696p.
Young & Co’s Brewery (LON: YNGA) is paying an interim dividend of 11.53p/share and the share price fell 3p to 975p.
Yu Group (LON: YU.) is paying an interim dividend of 19p/share and the share price is 20p lower at 1855p.