Positive drilling results for the Redmoor tungsten tin copper project have pushed up the share price of Strategic Minerals (LON: SML) by 45.3% to 0.69p. The drilling results confirm multiple zones of high-grade tungsten mineralisation at the project in Cornwall. These results are from one borehole. This suggests that Redmoor could be the highest-grade undeveloped tungsten deposit. There are also positive results for copper. The tin assays are still being reviewed. Drilling continues. Zeus has a 1.9p/share fair value for Strategic Minerals.
Kefi Gold and Copper (LON: KEFI) expects the signing of the agreement for $240m of debt capital for the Tulu Kapi gold project this week. Project equity capital funding is advancing. The share price increased 22.6% to 1.4775p.
Helium One Global (LON: HE1) is terminating the £10m investment agreement arranged by Marex Financial. A further £3.5m of the investment will be converted at 0.218p/share, taking the total converted to £7.875m. The rest of the investment will be repaid plus a 12% termination payment, making the total cash outflow £2.38m. The Galactica helium joint venture project in Colorado in the US is progressing, and first helium and CO2 production should be in December with full capacity reached during the first half of 2026. The share price improved 13.3% to 0.425p.
Ampeak Energy (LON: AMP) and joint venture partner Econergy International have received planning permission from Newport City Council for the Afon Wysg 2 250MW battery storage project at the Uskmouth Sustainable Energy Park. This is the third battery project at the site. Financial close for the project is expected in 2027. The Ampeak Energy share price is 8.51% higher at 2.55p.
Data analysis software provider Cirata (LON: CRTA) has gained its largest ever contract. It is a $3.1m, three-year data integration software contract with a US insurer. There was a previous one yea product agreement. There will be a trading update on 16 October. The share price rose 11.2% to 20.55p.
FALLERS
Helix Exploration (LON: HEX) is ready to start production at the Rudyard helium project in Montana and it could commence in November after the final components arrive. There are discussions about offtake agreements. The share price fell 6.86% to 24p.
Premier African Minerals (LON: PREM) is consolidating ten shares into one new share when trading begins on Tuesday. The pre-consolidation share price dipped 5% to 0.019p.
Delays in securing contracts have slowed progress at location data management software provider 1Spatial (LON: SPA), but recurring revenues continue to grow. Interim revenues were 9% higher with recurring revenues rising by one-fifth to 61% of total revenues. SaaS revenues from traffic management planning software 1Streetworks quadrupled and that was before the latest UK Power Networks contract gain worth £1m over 15 months. Cash generation is improving and getting nearer to covering capitalised development costs. Net debt is £2.5m. Australia was the only laggard, and this may possibly be sold to help finance further product development and growth in the core markets. Cavendish forecasts flat full year pre-tax profit of £1.4m. The share price declined 2.75% to 53p.