Following last week’s results from Filtronic (LON: FTC) when forecasts were maintained, Cavendish has upgraded due to another contract from SpaceX. The 2024-25 pre-tax profit estimate has been raised from £11.5m to £11.9m, while the 2025-26 figure has been edged up from £8m to £8.3m. This £16.8m order is part of the framework agreement to supply technology for the Starlink Low Earth Orbit satellite network. There had already been upgrades in December and January. The share price is 12.1% higher at 104p. The share price has risen by more than one-third during 2025.
Even though LungLife AI (LON: LLAI) has announced plans to leave AIM, depending on a shareholder vote, it has appointed Allenby as nominated adviser and joint broker. It is replacing Investec in those roles. Goodbody remains as joint broker. The share price recovered 12.5% to 0.225p.
Katoro Gold (LON: KAT) is raising £317,500 at 0.05p/share and another 38 million shares will be issued to pay fees. The par value of shares has to be reduced so that the shares can be issued at this price. Katoro Gold plans to acquire 31 Explore, which has mining claims in Ontario, Canada. The consideration is 375 million warrants exercisable at 0.1p each and 375 million warrants exercisable at 0.15p each. The mining claims include lithium bearing pegmatites and rare earth elements. Some of the cash will be invested in these assets, as well as in the White Pine uranium project in Ontario. Patrick Cullen will become full time chief executive. The share price improved 10.5% to 0.0525p.
Directa Plus (LON: DCTA) environmental subsidiary Sectar has won two new contracts. A €1.5m contract with Midia International is for tank cleaning and waste disposal. For an offshore drilling campaign in the Black Sea. The company’s graphene-based Grafysorber technology removes oil contaminates from water. Romania based Ford Otosan has awarded a sixth contract to Sectar worth €1.1m for waste management services. The share price rose 8.33% to 6.5p.
FALLERS
Lord Ashcroft is trying to remove another of his companies from AIM. A general meeting has been requisitioned at wine maker Gusbourne (LON: GUS), where he owns 66.8%. Talks with potential acquirers have ended and the strategic review has been terminated. This follows Lord Ashcroft’s success in getting Merit Group and Jaywing to leave AIM. The share price dived 39.5% to 23p.
After the market closed on Friday, Nativo Resources (LON: NTVO) announced a share consolidation of 1,500 existing shares into one new share. The board believes this will help to make the share price less volatile. The share price dipped 17.7% to 0.0014p.
Semiconductor designer EnSilica (LON: ENSI) generated revenues of £9.3m in the first half, which was lower than anticipated. The pre-tax loss increased from £309,000 to £1.4m. That means that the second half revenues will have to be much stronger than expected. Allenby is sticking with its full year forecast pre-tax profit of £2m. This is based on a recovery in consultancy income and continued growth in supply revenues. Net cash is £2.8m. The share price slipped 11.2% to 43.5p.
EnergyPathways (LON: EPP) and its partners have progressed with the front-end engineering and design for the Marram Energy Storage Hub. It is still on course for a final investment decision by the end of 2025. The share price fell 7.64% to 6.65p.
Haydale Graphene (LON: HAYD) has placed its US subsidiary in Chapter 11 bankruptcy protection. This is a prelude to an attempt to sell the assets and claw back some of the intercompany debt of £12.8m – after paying other liabilities. It will also reduce the cash outflow. This leaves the company focused on UK nanomaterials operations. The share price declined 2.17% to 0.1125p.