Cadence Minerals (LON: KDNC) says the capital expenditure requirements for Amapa have been reduced. Project financing talks continue with parties interested in taking a stake in the project. Cadence Minerals has invested $12.1m in Amapa and owns 32.6% of the project. The stake in Hastings Technology Metals has been sold. Cadence Minerals expects to leave the Aquis Stock Exchange on 5 April. The share price jumped 18.3% to 5.5p.
Strategic Minerals (LON: SML) sold 4,898 tons from the Cobre magnetite stockpile during February. That is the highest monthly figure since March 2021. Quarterly sales should be around 13,000 tons and annual revenues from Cobre should be around $3.5m. The share price rose 10.6% to 0.25p.
Controlled environment agriculture technology developer Light Science Technologies (LON: LST) has appointed former ITM Power (LON: ITM) boss Dr Graham Cooley as non-executive chairman. He bought a 7.5% stake last year and has been awarded 6.66 million options exercisable at 5p each. Richard Mills, who is boss of the growing systems division of Haygrove and has helped to develop global partnerships, has also joined the board. Myles Halley and Robert Naylor have stepped down. The company has been broadening its activities into fire protection. The share price improved 8.33% to 2.6p.
Tracking technology developer t42 IOT Tracking Solutions (LON: TRAC) says 2023 revenues were flat at $4m. Gross margins have improved, and overheads reduced. The £925,000 convertible loan note has been extended to 20 January 2025. The interest rate is 10% and the loan can be converted into a 28.8% stake.
Cybersecurity provider Corero Network Security (LON: CNS) is expanding its partnership with Exclusive Networks’ Ingecom Ignition. The distribution agreement covered Portugal and Spain and it has been expanded to include Italy. The share price increased 5.88% to 9p.
FALLERS
There was profit-taking in Active Energy Group (LON: AEG) after it received the cash payment of $1.65m as part of its settlement with Player Design Inc. The share price is 10% lower at 0.9p.
Red Rock Resources (LON: RRR) has lost some of yesterday’s gain after it announced that senior management will be in the DRC to finalise the arbitration award for its $10m claim relation to a copper cobalt joint venture. The company is seeking to renew two licences in Kenya and considering options for its licences in the Ivory Coast. The share price declined 11.2% to 0.0725p.
Eurasia Mining (LON: EUA) has fallen 6.45% to 1.45p following yesterday’s announcement that there have been claims of interest in the shares that Queeld Ventures and Mispare are seeking replacement share certificates for.
Beowulf Mining (LON: BEM) has appointed Dmytro Siergieiev as project director of the Kallak iron project. The share price slipped 5.88% to 0.8p.
Ex-dividends
Colefax (LON: CFX) is paying an interim dividend of 2.7p/share and the share price is unchanged at 725p.
Redcentric (LON: RCN) is paying an interim dividend of 1.2p/share and the share price declined 1.75p to 128.5p.
