Webis (LON: WEB) shares have recovered 50% to 0.21p following final results, even though it is set to leave AIM. The US-focused betting company reported flat revenues of $50m and an increase in loss from £745,000 to £1.06m. Net cash is $565,000. Management believes that leaving AIM will make the company more attractive for partnerships and acquisitions,
Shares in investment company APQ Global (LON: APQ) have returned from suspension after the interim figures were published. The NAV was 24.9 cents/share at the end of June 2024. The strategy is to generate cash to pay off the convertible loans, where the total liability is $37m. The share price increased 18.2% to 6.5p.
Botswana Diamonds (LON: BOD) has gained environmental authorisation for one of the two mining permit applications at the Thorny River project. A mining permit should be granted within six weeks. The company believes that 1.7M tons of kimberlite could be mined during the life of the mine. The share rice improved 10.5% to 0.21p.
Building services provider Northern Bear (LON: NTBR) interims show a small improvement in revenues from £36.9m to £37.6m, but higher overheads meant that pre-tax profit dipped from £1.68m to £1.54m, although this was slightly better than expected. There was an operational cash inflow of £2.2m. Net debt is £1.4m. Hybridan forecasts a dip in full year pre-tax profit from £2.14m to £1.84m, although there is potential for an upgrade. The share price rebounded 7.92% to 54.5p.
FALLERS
Pharma testing company genedrive (LON: GDR) increased annual revenues from £60,000 to £500,000, but the loss rose from £5.98m to £7.75m. There was cash of £5.2m at the end of June 2024. The strategy is commercialisation of the company’s tests in the UK and prioritised international markets. The share price dipped 8.89% to 2.05p.
Good news for Strategic Minerals (LON: SML) subsidiary Cornwall Resources as the UK Criticality Assessment 2024 reaffirms the critical designation of tungsten and tin. The company is trying to push forward with the development of the Redmoor project. The share price fell 7% to 0.225p.
Atlantic Lithium (LON: ALL) says that the ratification of the mining lease would be the final regulatory step to commencing construction of the Ewoyaa lithium project in Ghana. This ratification has been delayed by an election. Atlantic Lithium is cutting costs. The weaker lithium price is also making the financing more difficult. The share price declined 5% to 11.6p.
Supercapacitors developer Cap-XX (LON: CPX) improved full year revenues by 26% to A$4.6m as product sales were two-fifths ahead. This reflects the focus on product sales and developing the distribution network. The underlying EBITDA loss decreased from A$1.73m to A$1.57m. The current order book is worth A$2.1m. The £3m fundraising was after the balance sheet date. The share price slipped 4.51% to 0.1375p.