Mercantile Ports and Logistics (LON: MPL) shares rose a further 118.2% to 1.2p while investors await a decision from the meeting of a consortium of banks to consider Mercantile’s debt proposal on Friday 10 April. One bank did not sanction an agreement for a one-time settlement of company debt with the consortium of banks. The court has told the Committee of Creditors holding the company debt to consider an offer to redeem 100% of outstanding debt. There are potential buyers interested in the port and logistics assets if they are claimed by the banks. An international oil and gas company is a potential provider of funds to help redeem the debt. The share price has more than trebled this week.
Atome (LON: ATOM) is in the final stages of negotiations for the funding of the Villeta fertiliser project in Paraguay. Definitive documentation with the equity consortium is expected by 17 April. The potential funders are likely to be at the IMF and World Bank spring meetings at that time. The share price rebounded 28.1% to 77.5p, which is the highest it has been since late 2024.
Eden Research (LON: EDEN) has completed a conditional placing taking the total raised in the recent fundraising to £10.8m at 4p/share. The cash will fund development of an additional fungicide for Late Blight and an insecticide to target spider mites, whitefly, aphids and thrips. The share price increased 14.6% to 3.15p.
Steppe Cement (LON: STCM) has increased cement sales in Kazakhstan in the first quarter of 2026 to 344,058 tonnes, from 276,217 tonnes in the same period last year. The average price was one-fifth higher at around $57/tonne. Market share increased to 16%. Capacity is being increased and the final estimated cost is $35m. The share price rose 10.5% to 21p.
FALLERS
Impax Asset Management (LON: IPX) published a disappointing quarterly update to assets under management. They fell 8% in the second quarter to £22.3bn, compared with the previous quarter, with net outflows in the quarter much higher than expected at £2bn. There was a small positive increase related to performance. Full year revenues are expected to be £109m to £113m and costs are being reduced. The share price slumped 25.55 to 93.55p, which is less than ten times prospective earnings.
Faron Pharmaceuticals (LON: FARN) says 70% of shares available in its offer to investors were taken up. The amount raised was €40.1m, or €32m after expenses, at €0.50/share. The cash will be used to fund “a randomised, 90-patient Phase II trial in frontline high risk myelodysplastic syndrome with bexmarilimab in combination with azacitidine as well as to accelerate the development of its lead asset bexmarilimab by providing it to up to five investigator-initiated trials”. The share price fell 11.2% to 43.5p.
Quantum Blockchain Technologies (LON: QBT) says a court has stopped enforcement of a €6m plus damages award against Sipiem relating to the Mediapolis business. The company has not been able to enforce the seizing of property of a former Sipiem director because he has declared bankruptcy. The liquidation of Mediapolis is being completed and a further distribution of €132,000 is expected to be received by the end of June. The share price dipped 6.85 to 0.48p.
Metals explorer Rockfire Resources (LON: ROCK) is continuing drilling to upgrade from an inferred resource to an indicated resource at the Molaoi zinc deposit in Greece. Strong germanium grades have been intersected in the southern zone. Copper and silver have also been identified in hole HMO-012, plus silver in hole HMO-013. Hole HMO-014 had the largest zinc values, but it caved and will be redrilled later. There are plans to buy a drilling rig. The share price declined 1.755 to 0.14p.