Quadrise (LON: QED) has signed another long-awaited agreement. The deal with shipping company MSC and Cargill involves production of bioMSAR and MSAR fuels in Antwerp and will enable vessel trials on board the MSC Leandra. Cargill will supply feedstocks and sell the fuels to MSC. The trail should start in the first quarter of 2025. The share price jumped 60.9% to 3.7p and it has more than doubled over the past week.
Oracle Power (LON: ORCP) has received the final batch of assay results for the drilling at the Northern Zone intrusive hosted gold project. These show high grades over an expanded area. A mineralisation report is expected by the end of November and then a mining lease application will be submitted. The share price soared 44.1% to 0.017p.
Trading at sustainable wood materials supplier Accsys Technologies (LON: AXS) improved in the first half and full year figures will be better than expected. Interim revenues were 1% higher at €72.2m and there is also an initial contribution from the US joint venture of €1.9m. Arnhem plant volumes grew 5%. Underlying EBITDA rose from €1.6m to €4m. There was an exceptional charge of €20.8m due to the winding up of the Hull plant and the share of the joint venture loss jumped from €1.2m to €6.1m. Net debt was €40.2m at the end of September 2024. Full year EBITDA of €10m is forecast. The share price improved 10.6% to 47.6p.
Oil and gas producer Parkmead (LON: PMG) reported a decline in full year revenues from £14.8m to £5.7m. There was a return to profit with a pre-tax loss of £1.1m. Net cash is £11.8m. Parkmead is in in talks that could lead to the sale of its offshore portfolio. There is potential for investment in onshore wind. Cavendish has a target price of 66.5p. The share price increased 15.1% to 15.25p.
FALLERS
i-nexus Global (LON: INX) intends to leave AIM. The cloud-based software provider says poor share price performance and liquidity has led to the proposal. There should be direct cost savings of £250,000. The business has been consistently loss making. There is a three-year growth plan. i-nexus Global raised £10m at 79p/share when it joined AIM in June 2018. The cancellation will happen on 27 December if shareholders agree. The share price has recovered from its low early in the morning, but it is still down 58.7% to 1.3p. The market capitalisation is £400,000.
Great Western Mining (LON: GWMO) has raised £300,000 at 0.0165p/share and there is a separate retail offer, which closes on 27 November. The cash will fund the commissioning of the process mill for pilot production at the Western Milling joint venture and for exploration of other assets in Nevada. The share price declined 22.7% to 0.017p.
Gift wrap supplier IG Design (LON: IGR) reported an 11% decline in interim revenues to $393.1m with North America still a problem area. Elsewhere, revenues fell at a slower rate. Stationery and party-related sales both fell by more than one-fifth. Higher sourcing and freight costs hit gross margins and there was a knock-on effect on operating margins. Pre-tax profit was 62% lower at $13.3m. The second half is the most important part of the year and even though full year revenues are set to fall, pre-tax profit is still forecast to improve from $25.9m to $32.7m. The prospective multiple is around seven. The share price fell 10.8% to 111.5p.
ECR Minerals (LON: ECR) says that the potential buyer of assets in Victoria and related tax losses of A$75m is assessing the appropriate structure of the deal. The exclusivity has been extended to the end of January. The share price is 7.46% to 0.31p.