Late on Friday, James Kight revealed a 3.14% stake in GenIP (LON: GNIP). That makes him the third highest shareholder. The share price jumped 26.4%to 33.5p.
Cyber security company Smarttech247 (LON: S247) grew full year revenues by 8% to more than €13m and annualised recurring revenues are €7.8m. In the year to July 2024, EBIT was at least €750,000. The potential contract pipeline is better than last year. Net cash was €3.3m at the end of July 2024. The results will be reported later this month. The share price recovered 14.7% to 9.75p.
Tungsten explorer Guardian Metal Resources (LON: GMET) raised £750,000 from Premier Miton at 30p/share. That is 2% of the company and Shard Capital receives 120,000 warrants exercisable at 37.5p each for arranging the investment. The proceeds will help to accelerate exploration and development of the Pilot Mountain tungsten project in Tungsten. The share price improved 8.33% to 32.5p.
Hercules Site Services (LON: HERC) plans to sell its suction excavator business, which accounts for 88% of bank debt. That should improve profit and enable the focus to be the core labour supply business. The results for the year to September 2024 will include suction excavators as discontinued activities and they will be published on 13 January. The share price improved 5.95% to 44.5p.
Maritime surveillance systems supplier SRT Marine (LON: SRT) has received formal notice to proceed with phase 2, worth $15m, of the $40m three-phase project in the Middle East. Formal documentation should be concluded by the end of January. There should be a 12-18 month implementation period. The share price is 3.8% higher at 41p.
FALLERS
Oil and gas producer Arrow Exploration (LON: AXL) says that the AB-1 well on the Alberta Llanos discovery, where is is onstream and the AB-2 well has reached its target depth. AB-3 should start drilling soon. Arrow Exploration owns 50% of the discovery and the initial gross production is 658 barrels/day. Arrow Exploration averaged production of 4,900 barrels of oil equivalent/day during December. Driilling spending should reach $50m in 2025. The share price dipped 8.49% to 24.25p.
Former ITM Energy (LON: ITM) bosss Dr Graham Cooley has been appointed as a non-executive director of fuel cell technology developer Gelion (LON: GELN). The share price fell 5.88% to 16p.
Extended reality software developer Engage XR (LON: EXR) says 2024 revenues were €3.4m as contracts were delayed to 2025 and the EBITDA loss was €4m. Net cash was €3.6m at the end of 2024. A significant contract should be finalised in the next few months. The share price slid 4.17% to 3.45p.
Timber supplier Woodbois (LON: WBI) says it intends to appoint a management company to support its operational management following the resignation of both of its executive directors before Christmas. This is to provide time to replace the executive directors. The plan remains to restart production in Gabon. Robert Skyrme has increased his stake to 4.52%. The share price is 2.85% lower at 0.1875p.