Share buying in Enteq Technologies (LON: NTQ) helped the price rebound by 50% to 2.7p. The share price slumped after the company issued a poor trading statement and decided to commence a formal sale process, which will be handled by Gneiss Energy. The company has already contacted some interested parties and is in discussions with two of them.
RA International (LON: RAI) shares clawed back some of yesterday’s loss after it announced plans to leave AIM. The remote services provider to global organisations says that disclosure requirements hamper the business by enabling rivals have a greater insight into its strategy. Also, confidentiality agreements mean that it is difficult to provide investors with the information they want. Liquidity is poor because Soraya Narfeldt and Lars Narfeldt own more than 80% of RA International. The share price recovered 26.7% to 0.95p but has still fallen 85% this week.
Falcon Oil & Gas (LON: FOG) announced the completion a 35-stage stimulation campaign on the Mid Velkerri B Shale in the Shenandoah S2-2H ST1 horizontal well in Australia, where it has a 5% working interest. Next month, there will be news about IP30 rates for horizonal wells. Cavendish expects IP30 rates of more than 6MMscf/day per 1,000 metres. Falcon Oil & Gas is choosing not to contribute to the next four wells and that will save $12m in capital spending. The company is seeking to move its share quotation to the US. The share price improved 13.3% to 7.25p.
Karelian Diamond Resources (LON: KDR) has extended licences over diamond exploration areas targeted at Lentiira in Finland. This was an area discovered by former AIM company European Diamonds. Landowner compensation for the potential mine development at Lahtojoki should be finalised in the first half of 2025. The company is trying to secure a strategic partner to help it develop an emerging nickel, copper and platinum prospect in Northern Ireland. The share price rose 10.5% to 1.05p.
FALLERS
APQ Global Ltd (LON: APQ) says the US government’s slashing of international aid and foreign assistance has created a tough environment for its investee companies. Cash flow generation and refinancing debt should enable APQ Global to repay convertible loan holders by the end of March, but it is more uncertain than previously. The outstanding principle is £26.1m. Delphos is the main investment and two-thirds of its transaction advisory contracts have been cancelled, and they were worth $5m. The others are also likely to be cancelled. Cash inflows over December and January were expected to be $18.9m, but they were $1.1m. The estimate for February has been downgraded from $16.5m to $14.5m, although the March estimate has been raised from $4.3m to $11.1m. That still means a reduction $12m over the period. APQ Global had $3.2m in cash at the end of January. The share price dived 69.2% to 2p.
Oxygen enrichment device developer Belluscura (LON: BELL) has raised £4m at 2p/share and a WRAP retail offer could raise up to £500,000. The cash will be used to purchase inventory and bolster the balance sheet. The licence fee payment to Separation Design Group is expected to be between $400,000 and $575,000 on product sales up to 15 September 2025. The subscription price of warrants owned by the company will be reduced from 45p to 2p. Three non-execs and one executive director will step down from the board, although the latter will remain on the board of the US subsidiary. The share price slumped 69.2% to the placing price of 2p.
Managed services provider Iomart (LON: IOM) says churn has remained high in in its self-managed infrastructure client base and there are also lower renewals in private cloud services. Cavendish has cut its forecast 2024-25 pre-tax profit from £10.4m to £6.6m, with a further decline to £5m next year. This reflects the high fixed cost base. The share price slipped 21.7% to 46.5p.