Zanaga Iron Ore Company (LON: ZIOC) says that the Chinese EPC partner for the Zanaga Iron Ore project believes that there could be operating cost savings of one-quarter. The phase 1 feasibility study should be complete by the end of the year. A partner for the project could be selected in the first half of next year. The share price improved 15.3% to 5.24p.
MS International (LON: MSI) has won a contract with the US Navy through its US-based subsidiary. The $23.5m contract is for the supply of Mk38 MOD4 gun mounts, which will be delivered by the end of 2024. This follows another longer-term US Navy contract announced at the beginning of September. The share price increased 9% to 730p.
Personal Group Holdings (LON: PGH) increased interim revenues by one-third as insurance business recovered. Net cash is £22.6m at the end of June 2023. The employee benefits operations have added 52 clients as companies try to retain and attract employees. The share price is 6.94% higher at 185p.
Gold, copper and lithium explorer Artemis Resources (LON: ARV) reported annual results and an updated mineral resource estimate for Carlow Castle, where the inferred resource is 8.74Mt containing 704 ounces of gold equivalent. Indications of sulphide mineralisation have been detected. Lithium pegmatite discoveries have been made in the Greater Carlow project area. Artemis Resources is seeking a partner for the Patterson Central gold prospect. WH Ireland believes fair value is 8p/share. The share price rose 5.36% to 1.475p.
FALLERS
In-game advertising platform Bidstack (LON: BIDS) have licenced technology to a new company called VST, so that it can raise cash for its funding requirements. Bidstack chief executive James Draper and executive director Lisa Hau have set up VST, which is paying Bidstack a licence fee of £1.5m for the provision of technology for worldwide use for sports leagues and teams in virtual stadiums. Camila Franklin has stepped down from the Bidstack board after 12 months. Bidstack had £2.08m in cash at the end of June 2023. Revenues will fall short of expectations this year. The share price slumped 48% to 0.325p.
MobilityOne (LON: MBO) improved interim revenues by 7% to £121.5m, but profit declined to just above breakeven. MobilityOne is acquiring 49% of Sincere Acres, a healthcare systems provider, for £5.22m. The share price is one-fifth lower at 5p.
Zephyr Energy (LON: ZPHR) reported lower interim revenues because of reduced oil prices and declining production from Williston. Group production is expected to increase in the second half when non-operated interests commence production. The value of the core oil and gas assets has risen by one-third to $103.2m. Discussions continue with insurers over the drilling problems at the Paradox project. The share price is down 19.7% to 2.65p.
Verici Dx (LON: VRCI) has generated its first revenues in the first half of 2023, but they were a modest $19,000 for the developer of clinical diagnostics for organ transport. However, full year revenues will be lower than expected. Cash was reduced from $9.8m to $5.3m over the six months to June 2023. The share price fell 18.1% to 7.375p.