US-based uranium and critical minerals producer Energy Fuels is offering 0.026 of a share and an unfranked dividend of A$0.065 for each Base Resources (LON: BSE) share. That is currently equivalent to A$0.302/share. This is a recommended bid and values Base Resources at A$375m. Two major shareholders owning 51.3% in total intend to support the bid. This will help to fund the development of the Base Resources Toliara rare earth project in Madagascar. The Base Resources share price jumped 92.1% to 10.375p.
Digital technology consultancy Made Tech (LON: MTEC) has expanded its contract with a UK government department and it is worth up to £19.5m over two years. There is no guarantee of the amount to be spent. This should underpin 2024-25 expectations. The share price soared 37.8% to 12.75p – the highest level since January.
A large pharma company is assessing the Optimer binder technology of Aptamer Group (LON: APTA) with a focus on liver disease. The share price increased 31.8% to 0.725p.
Diagnostics developer Cambridge Nutritional Sciences (LON: CNSL) says 2023-24 revenues were 31% higher at £9.8m, which was better than expected. Margins are also improving. There should be a positive EBITDA following a loss last year and a previous forecast loss of £100,000. The share price rose 18.5% to 3.85p.
Energy services provider eEnergy (LON: EAAS) has won a £5.2m contract to provide solar electricity systems for 38 sites operated by Spire Healthcare. Revenues will be recognised this year. Spire Healthcare has more than 89 sites. The share price improved 12.5% to 6.75p.
FALLERS
Donald McGarva is stepping down as chief executive of Aferian (LON: AFRN) and leave the video streaming technology developer in October. This follows a trading statement revealing that 2023-24 revenues and EBITDA would be at the lower end of the previously suggested ranges of $47m-$48m and $1.6m-$2.6m respectively. There are delays in purchases of Amino video streaming devices. Costs have already been reduced and a further $3m will be cut. Management hopes to extend the borrowing facility of $16.5m that matures in November. The share price slumped 30% to 8.75p.
Digital advertising company Brave Bison (LON: BBSN) reported 2023 results in line with recent upgrades. The underlying pre-tax profit improved from £2.6m to £3.6m. Cavendish currently expects a 2024 pre-tax profit of £3.2m on higher revenues, although it could do better if the advertising market recovers. The share price is down 11.5% to 2.5p.
Chrysalis Investments has issued draft particulars of a claim against Revolution Beauty (LON: REVB) that amounts to £39m plus additional consequential loss of £6.2m. This claim has not yet been filed with the court and relates to buying shares in the company when it joined AIM in July 2021. Chrysalis Investments was unsatisfied with the response it had got from the cosmetics supplier. The share price is 11.2% lower at 27.45p
Models and collectibles supplier Hornby (LON: HRN) was hit by the early Easter and delivery delays so fourth quarter sales were 8% lower. Full year revenues of £56.2m were slightly ahead of the previous year. There was another loss in 2023-24 and net debt was £14.3m at the end of March 2024. There are signs of an improving trend. The share price fell 7.89% to 35p.
