Oracle Power (LON: ORCP) and its partner Riversgold have commenced geotechnical drilling at the Northern Zone gold project in Kalgoorlie. This will enable analysis of rock strength for mine planning. Progress continues towards gaining a mining lease. MEGA Resources will provide development and mining funding on a 50/50 profit share basis. The share price rose 6.06% to 0.0525p.
Scancell (LON: SCLP) has received FDA Fast Track designation for iSCIB1+ in advanced melanoma. Plans are being advanced for a phase 3 trial which could start in the second half of 2026. Progression free survival reached 77% at 20 months, which is 30 percentage points above standard care. Additional data is expected in the first half of 2027. The share price increased 5.77% to 13.75p.
Construction and maintenance software provider Eleco (LON: ELCO) increased recurring revenues by 26% to £31.3m. In 2025, revenues grew 20% to £38.8m. Pre-tax profit improved from £5.4m to £7.3m. Net cash was £16.3m at the end of 2025. The share price gained 5.69% to 130p.
AI technology consultancy GenIP (LON: GNIP) has announced a strategic alliance with US-based professional services provider Cardinal IP. The two companies will sell each others products. The AI-enabled IP market is expected to grow to more than $8bn by 2030. The share price is 4.88% higher at 10.75p.
FALLERS
Trellus Health (LON: TRLS) has issued 59.1 million shares on the conversion of a further £50,000 of convertible loan notes. That takes the number of shares in issue to 430.1 million. The share price fell 24.2% to 0.125p.
IQE (LON: IQE) has ended its strategic review and there is no bid for the semiconductor wafer manufacturer. A placing and offer has raised £13m at 19.8p/share, while a strategic investment of £30m by semiconductor manufacturer MACOM, the issue of £15m of convertible loan notes and reinvestment of £23m from existing convertible loan notes takes the total raised to £81m. This will repay debt and fund the growth of IQE. There will be investment in Indium Phosphide (InP) and Gallium Nitride (GaN) technologies. MACOM will nominate two directors to the board. The 2025 results will be published in late May, and revenues are expected to be £97m and this is expected to grow by one-fifth this year. The share price slipped 21.9% to 38.6p.
Premier African Minerals (LON: PREM) has raised a further £1m at 0.0136p/share. Construction and upgrades of the Zulu lithium processing plant. The crushing and milling circuit is being commissioned. Testing of newly installed bypass chutes was successful. The share price declined 8.57% to 0.016p.
Biopesticides developer Eden Research (LON: EDEN) says revenues should be £4.9m in the 15 months to March 2026. The loss was £2.9m, which was slightly higher than expected because more Capex was allotted to administrative expenses. Cash was £9m in the middle of April. A similar loss is expected this year. The share price lost 8.33% 3.3p.