WH Ireland (LON: WHI) shares rebounded 213% to 1.25p after it confirmed shareholders rejected the sale of the wealth management business and the proposed departure from AIM. Two non-executive directors are resigning from the board in January. There is sufficient capital to continue trading despite being loss making. Shareholders will be consulted about the future of the company.
David Nugent has increased his stake in Genedrive (LON: GDR) from 10.1% to 15.1%. He is unhappy with the recent fundraising. The general meeting to approve the share issue is on 15 October. The estate of William Black has cut its stake to 1.92%. The share price recovered 69.4% to 0.398p.
Synthetic binders developer Aptamer (LON: APTA) has secured a £360,000 development contract with a top 3 global pharmaceutical company. The fee-for-service contract is to develop Optimer binders as targeted radiopharmaceuticals. Aptamer retains the rights for licensing. This takes work secured for this financial year to £1.03m. Last year’s revenues were £1.2m. The sales pipeline is worth £3.4m. The full year results are on 14 October. The share price is 44.8% higher at 1.05p.
Copper gold explorer Bezant Resources (LON: BZT) says investee company Blackstone Minerals has gained regulatory approval in the Philippines for a two-year extension to the Mankayan copper gold project work programme. The drill rig has been mobilised. The share price rose 39.2% to 0.11p.
FALLERS
First Development Resources (LON: FDR) says deteriorating conditions at the base of the Canning Basin sedimentary sequence at the Wallal project mean that the drill hole could not reach the planned depth of 1,220 metres. Drilling has ceased and the next step is being assessed. The share price slumped 58.3% to 3.65p.
Sareum Holdings (LON: SAR) has discontinued its 16-week GLP preclinical toxicology study for SDC-1801 following safety issues. The study was supposed to be a precursor to a phase 2 clinical development programme focused on psoriasis. However, the issues observed were predominantly in the control group, so it is unlikely it is due to SDC-1801 and Sareum plans to restart the study, and it can be completed within cash resources. The share price declined 39.2% to 15.5p.
Oracle Power (LON: ORCP) has booked a drill rig for the Northern Zone gold project. The plan is to grow the size of the mineralised area. The drilling will start in less than three weeks. The share price slipped 30.4% to 0.04p.
A Delhi court has denied Mercantile Port and Logistics (LON: MPL) interim relief relating to the cancellation of its agreement with the lending consortium. The company has appealed to a higher court. The share price fell 27% to 0.675p.