Cannabis-based medicines developer Celadon Pharmaceuticals (LON: CEL) remains in talks with an investor that was going to subscribe £1m in four tranches at 105p/share, but only £600,000 has been received. This leaves the company short of funds. An additional £200,000 has been received as a draw down from the committed credit facility with the other £700,000 requested likely to be paid in instalments or when a property has been sold. Celadon Pharmaceuticals is in talks with other potential lenders. The company has £210,000 in cash. The share price recovered by one-quarter to 27.5p.
Nigeria-focused gold producer Thor Explorations (LON: THX) sold 23,600 ounces of gold at an average price of $2,309/ounce in the second quarter. AISC was $802/ounce because of higher grade ore and guidance for the full year has been reduced to $900-$1,000/ounce. Quarterly revenues were $54m and EBITDA $38m. Net debt has fallen to $2.7m. The share prie is 18.3% higher at 17.75p.
Biodegradable plastic developer Symphony Environmental Technologies (LON: SYM) is announcing its interim figures on 9 September. The share price rose 4.44% to 2.35p.
Tlou Energy (LON: TLOU) has raised £512,000 at 1.8p/share, which will be spent on the Lesedi gas-to-power project in Botswana. The share price increased 4.35% to 1.8p.
TV and film services provider Facilities by ADF (LON: ADF) has made the significantly earnings enhancing acquisition of Autotrak Portable Roadways, which hires portable roadways. This also diversifies the client base into outdoor events. The initial payment is £13.1m in cash and shares. Up to £8.2m of additional consideration is payable depending on EBITDA up until 2027. Cavendish has increased its earnings forecast for 2025 by 12% to 9.7p. The company raised £10m at 50p/share to fund the acquisition and could raise up to £500,000 from a retail offer, which closes on 29 August. The share price improved 3.92% to 53p.
FALLERS
Bluejay Mining (LON: JAY) is raising £1.75m at 0.3p/share. This cash will be spent on a number of projects in Zambia, Greenland and Finland. The share price fell 3.13% to 0.31p.
Guinness Asset Management has reduced its shareholding in Light Science Technologies (LON: LST) from 8.56% to 7.65p. The share price declined 2.9% to 3.35p.
Recruitment software developer Dillistone Group (LON: DSG) has raised £300,000 from a loan note issue from directors and £60,000 from a placing at 8p/share. Interim figures will show an improvement in profitability and cash generation. Markets continue to be weak, and the cash will provide a buffer for the business. The loan notes last 48 months and offer an annual interest rate of 9.85%. The conversion price is 14p/share. The share price dipped 2.78% to 8.75p.