The latest drilling results for the Basin lithium project means that Bradda Head Lithium (LON: BHL) is nearer to receiving a significant royalty payment from the LRC. The latest mineral resource estimate is being calculated and it should be much higher than the current figure of 1.08MT of LCE. The figure could be tripled in the next few weeks. The share price improved 16.1% to 1.8p.
An independent study of the West Newton field has confirmed that a single well development is viable. Reabold Resources (LON: RBD) has a majority stake in the field. Cavendish estimates that the development could be worth an NPV10 valuation of £32m, of which Reabold Resources’ stake would be worth £17.4m. The full field development could be worth $179m to Reabold Resources. Cavendish has a risked target price of 0.37p. The share price increased 7.41% to 0.0725p.
Mathematical drug modelling services provider Physiomics (LON: PYC) says that its personalised dosing software will be included in the DoseMeRx platform. This follows Thursday’s oncology modelling contract worth £186,000, which takes committed 2024-25 revenues to £500,000. The share price moved up 7.41% to 1.45p.
Aptamer (LON: APTA) is partnering with Microsaic Systems to develop a panel of Optimer binders for integration into a water testing system. The Microtox water testing system is being commercialised by Microsaic Systems as a way of detecting potential infections in water systems. The Aptamer share price rose 7.14% to 0.75p.
FALLERS
Shares in Kibo Energy (LON: KIBO) continue to slide after yesterday’s announcement that it is not going ahead with all of last week’s restructuring plans after consultation with shareholders. Not all the board changes will be made, but it was not stated which ones they are. The shares are 17.5% lower at 0.0165p.
Chief executive Nigel Theobald’s stake in N4 Pharma (LON: N4P) has been reduced from 6.32% to 4.3%. It appears that is the dilutive effect of the £630,000 placing at 0.5p/share. The share price has fallen 4.76% to 0.5p.
ActiveOps (LON: AOM) shares have declined 2.88% to 101p ahead of the decision intelligence software company’s full year results announcement on 3 July.
The Serabi Gold (LON: SRB) share price has slipped 1.48% to 66.5p following yesterday’s AGM. The Brazil-focused gold miner is on track for the 2024 production guidance of 38,000 – 40,000 ounces. Production is being ramped up at the Coringa project and processing equipment has been delivered.