Brand Architekts (LON: BAR) is cutting its losses quicker than expected. The branded toiletries and household products supplier is focusing on profitability and not chasing sales. The cash outflow was lower than anticipated. Brand Architekts could be near to breakeven in the year to June 2024. A settlement with MR brand joint venture partner Jamie Stevens Media cost a total of £425,000 and Brand Architekts has agreed to buy out its partner. The share price rose 13.8% to 33p.
Shield Therapeutics (LON: STX) generated 50% more US prescriptions for iron deficiency treatment Accrufer in the second quarter. A new marketing campaign was launched in May with 100 sales representatives in place. Total prescriptions in the second quarter were more than 15,800. Management says it is on track for its 2023 goal for US prescriptions. There was cash of $13.6m at the end of June 2023, while the remaining AOP loan is $5.5m. The share price is 12.9% higher at 7.9p.
Shanta Gold (LON: SHG) produced a record 29,400 ounces of gold in the second quarter of 2023. The new Singidia mine has started strongly, while production problems at New Luika have been resolved. Life of mine recoveries may be underestimated. Net debt halved over the quarter to $8.7m. The share price is 12.6% ahead at 10.925p.
Metal Exploration (LON: MTL) produced 45,500 ounces of gold in the first half, up from 31,300 ounces of gold in the same period last year and selling prices averaged $1,939/ounce. Free cash flow was $41.9m and net debt was reduced to $48.3m. Production guidance for the year has been upgraded to 78,000-81,000 ounces. The share price increased 10.3% to 2.15p.
FALLERS
Battery technology developer AMTE Power (LON: AMTE) is running out of time to raise the cash it requires to continue trading. Discussions with finance providers and investors continue, but there needs to be a decision in the next few days. If no cash is raised then the company will have to go into administration and there is unlikely to be anything left for shareholders. The share price slumped 48.5% to 4.25p.
Lansdowne Oil & Gas (LON: LOGP) has raised £200,000 at 0.1p/share and over the next three months it will be in discussions with external litigators. The authorities in Ireland were unwilling to grant the Barryroe lease undertaking for appraisal drilling. There are plans to pursue an international arbitration claim. The share price dived by one-third to 0.11p.
Weak North American sales have hit Portmeirion (LON: PMP) in the first half. There was destocking and the trend is likely to continue in the second half. Other markets are growing. The high operational gearing means that the 10% decline in revenues reduces the full year pre-tax profit forecast by 68% to £3.1m, down from £8m in 2022. The share price declined 28.6% to 282p.
Premier African Minerals (LON: PREM) is calling a special general meeting for 12 August and it is considering funding options. At the recent AGM, shareholders voted against disapplying pre-emption rights. The offtake agreement with Canmax has been terminated and Canmax wants the $35m prepayment repaid within 90 days. Negotiations are ongoing. The share price fell 12% to 0.44p.
Ex-dividends
D4T4 Solutions (LON: D4T4) is paying a final dividend of 2.15p a share and the share price is 2p lower at 176.5p.
Elixirr International (LON: ELIX) is paying a final dividend of 10.8p a share and the share price declined 15p to 525p.
Hercules Site Services (LON: HERC) is paying an interim dividend of 0.6p a share and the share price is unchanged at 30.5p.
Volex (LON: VLX) is paying a final dividend of 2.6p a share and the share price slipped 3p to 286p.
Winkworth (LON: WINK) is paying a dividend of 2.9p a share and the share price rose 2.5p to 145p.
