Quantum Helium (LON: QHE) says an independent resource report where the best estimate for the Coyote Wash project in Colorado is 0.97bcf of gross recoverable helium. This takes the gross recoverable resource of the company’s projects to 1.1bcf, which have a gross value of $330m. There are also potential oil resources of up to 750,000 barrels. The share price jumped 19.7% to 0.0365p.
Kettle components supplier Strix (LON: KETL) is transforming its balance sheet through the £110m sale of Billi, which supplies multifunctional taps, to a private equity-backed Australian bidder. Billi was acquired three years ago for £38m, although Strix has invested in the business since then. Billi has been a growing contributor to the group at a time when other parts of the business have found trading conditions difficult. There are plans for a manufacturing and development agreement. Shareholder approval is required so the sale will not be completed until early next year. Strix will move to a net cash position and a £10m share buyback is planned. The sale equates to 47.8p/share. The share price rebounded 16.1% to 47.2p/share.
The Zimbabwe government has revised its changes to mining royalties and that is good news for Caledonia Mining Corporation (LON: CMCL). The proposed royalty rate of 10% will only come into effect when the gold price exceeds $5,000/ounce, rather than $2,500/ounce. Changes to tax have been withdrawn. The rise in the gold price means that the payback on investment in the Bilboes project could be less than one year. Cavendish has raised its 2025 pe-tax forecast to $131.3m with $163.8m expected in 2026. This led to the clawing back of previous share price falls with a 8.08% gain to £19.40.
Conygar Investment Company (LON: CIC) has restructured its development loan for the Winfield Court student accommodation at The Island Quarter in Nottingham. Inal repayment has been extended to December 2026. The total facility has been reduced from £43.6m to £38.8m and there is additional security provided. The loan to value covenant is being reduced to no more than 60%. Results for the year to September 2025 will be reported in January. The share price rose 5.88% to 36p.
FALLERS
Bars operator The Revel Collective (LON: TRC) is in discussions with potential acquirors of its businesses and they would not lead to any return for shareholders. There is no likelihood of raising money through a share issue. Trading in the shares will be suspended on 29 December because the 2024-25 annual report will not be published by the end of the year. The share price dived 63.3% to 0.055p.
Virtual product placement services provider Mirriad Advertising (LON: MIRI) says second half revenues are expected to be £200,000, so 2025 revenues will be £400,000. At the end of November, cash was £1m. The cost base is £220,000/month. There will be a trading statement in January. The share price slumped 35.3% to 0.0055p.
Wellheads and connectors supplier Plexus Holdings (LON: POS) reported a 65% decline in 2024-25 revenues to £4.5m, due to large contracts in the previous year. There was a swing from a pre-tax profit of £2.8m to a loss of £3.3m. Demand is currently strong. Revenues could more than double this year enabling a modest profit. The share price dipped 17.6% to 5.15p.
Antibody developer Fusion Antibodies (LON: FAB) says the National Cancer Institute in San Diego is interested in continuing to use OPTIMAL as a human antibody discovery platform. Negotiations are continuing and then the US National Institutes of Health will have to approve any agreement, which could include an ongoing ownership of possible projects. The share price fell 9.84% to 13.75p.