Australia-focused explorer Artemis Resources Ltd (LON: ARV) says no significant nickel or copper mineralisation was shown from drilling samples at the Osborne nickel prospect. The approach to exploration will be reassessed. The share price has slumped by 10.9% to 2.05p, although it is still higher than at the start of the month. Two drill holes at its Greater Carlow project have not shown any sign of mineralisation, but others have. A mineral resource estimate for Greater Carlow is expected in September and new targets have been identified. Two drill holes have been completed at the Apollo target at Paterson Central and it has re-entered a previous hole to drill deeper. This is near to the Greatland Gold (LON: GGP) Havieron project.
CyanConnode (LON: CYAN) shares have jumped 25.4% to 18.5p after receiving an order for one million Omnimesh modules for smart metering from India. This will nearly double the number of modules deployed in India. The modules will be deployed in Bihar, and this will take two years. There will be eight years of support and maintenance upon installation.
Base Resources Ltd (LON: BSE) announced a A$0.03 a share dividend along with its figures for the year to June 2022. The African mineral sands producer increased revenues by one-third to $279.1m and free cash of $59.4m was generated. The share price increased by 10% to 19.8p. Net cash was $55.4m at the end of June 2022. The dividend will distribute $24.4m of this cash. The mine life of Kwale has been extended to December 2024. The Toliara project in Madagascar has significant potential but fiscal terms are still being discussed with the government, which is delaying progress.
Corporate finance adviser Marechale Capital (LON: MAC) increased pre-tax profit from £246,000 to £2.56m in the year to April 2022. That was mainly down to an increase in the value of investments and warrants. Fundraisings by Future Biogas, which postponed an AIM flotation, Chestnut Group and the Burgh Island Hotel were all at a premium to Marechale’s existing holdings. There was a cash outflow from operating activities of £131,000. NAV increased from £686,000 to £3.63m, or 3.8p a share. The share price has risen 9.91% to 3.05p. Since the year end, Marechale Capital has helped Weardale Lithium raise money and it has an 8.5% stake in the company.
Data analytics services provider Rosslyn Data Technologies (LON: RDT) has signed up its first enterprise customer through digital procurement services provider Chain IQ. A Japanese bank has signed a five-year contract and Rosslyn will provide its procurement analytics platform. This is designed to help to reduce spending. This is the first potential client to become a customer, but there should be more via Chain IQ. The Rosslyn share price improved by 9.52% to 2.3p.
Contract research provider Open Orphan (LON: ORPH) has secured a £10.4m contract to manufacture a specific H1N1 subtype influenza challenge virus and a follow-on phase 2a human study from a top five global pharma company. This is the fourth study signed up this year. Challenge studies are carried out prior to much more expensive field trials. This latest contract will predominantly generate revenues in 2023. This provides greater visibility for next year. The share price rose 6.67% to 12p.
