ITM Power (LON: ITM) has entered a strategic collaboration with Rheinmetall AG on the Giga PtX project to establish a European network of decentralised synthetic fuel production plants for NATO using the company’s electrolyser technology. There could be several hundred plants with an individual capacity of up to 50MW. The share price soared 42.4% to 133.6p.
Latin America focused investment company ROI Capital Holdings is subscribing £1.93m for shares in Trafalgar Property (LON: TRAF) at 0.005p/share. This is dependent on a waiver of the obligation to make an offer for the company. The existing subsidiaries will be sold for £1, and the planned Hilton House transaction will be reversed. The whole board will be replaced, and they will seek a reverse takeover. The share price jumped 32.7% to 0.0325p.
Cora Gold (LON: CORA) has signed a binding term sheet for $120m gold stream with Eagle Eye Asset Holdings, which is a 29.9% shareholder. This follows a £15.7m fundraising at 6p/share. The Sanankoro gold project in Mali is fully funded and the next key step is obtaining the mining permit. Construction of the mine can accelerate when that happens. Cora Gold has the right to replace 50% of the gold stream with debt or other funding. Eagle Eye Asset Holdings is entitled to purchase 30.44% of gold produced at Sanankoro for 20% of the spot gold price. The share price increased 14.6% to 11.75p.
Premier African Minerals (LON: PREM) is advancing installation of the processing plant and refining the plant configuration. Canmax Technologies has converted £187,000 of accrued interest into shares at 0.0126p each and £54,000 of contractor invoices have been paid in shares at the same price. The share price improved 7.73% to 0.0195p.
FALLERS
Quantum Health (LON: QHE) has raised £5m at 0.03p/share following demand from institutions. The cash will finance the development of the Sagebrush and Coyote Wash projects. The extended production test of Sagebrush-1 well is progressing. The share price declined 21% to 0.032p.
Armstrong Investments has cut its shareholding in Frontier IP (LON: FIPP) from 3.21% to 2.74%. The share price fell 5.41% to 17.5p.
Digital health company MedPal (LON: MPAL) has raised £3m at 2.5p/share. This will finance the roll out of operations and to accelerate the scaling up of the MedPal weight loss clinic. Oak Securities has been appointed as joint broker. The share price slipped 8.7% to 2.625p.
Sovereign Metals (LON: SVML) has issued 9.02 million shares following the conversion of the same number of unlisted performance rights. This was sparked by the achievement of the Bankable Definitive Feasibility Study milestone for the Kasiya rutile and graphene project in Malawi. The pre-tax NPV8 is $2.2bn. The share price dipped 2.47% to 39.5p.