Chaarat Gold Holdings (LON: CGH) has entered into a conditional agreement with Power Construction Corporation of China for the construction of the Tulkubash gold project in the Kyrgyz Republic. The engineering and construction contract is worth $82.8m, while five-year mining and maintenance contracts have a total value of $167.3m. The overall capital development cost will be lower than expected. Axis Capital Markets has been appointed joint broker. The share price rose 10.7% to 4.54p.
Utility infrastructure platform IQGeo (LON: IQG) says there has been strong early momentum from the launch of the Editions software product, and it has won two new customers in North America. Trading is in line with expectations and a 2023 pre-tax profit of £3.1m is forecast. The pipeline of new contracts means that there is a positive outlook. The share price has fallen sharply in recent months, and it recovered 4.37% to 215p, which is still nearly one-third below the peak.
Wishbone Gold (LON: WSBN) has confirmed the mineralised base metal system at Cottesloe in the Paterson Range, Western Australia. There is copper, zinc, silver, lead and cobalt. This is before the drilling has hit the target mineralisation zone. The share price rose 2.27% to 2.25p, having been 2.6p earlier in the morning.
Catalyst Media Group (LON: CMX) continued its share price improvement with a 5.88% rise to 135p following yesterday afternoon’s announcement that it had received a distribution of £6.16m from Sports Information Services. This enables a dividend of 27p/share to be paid, while retaining £600,000 in cash.
FALLERS
Gensource Potash (LON: GSP) raised $730,000 at 15 cents/unit. The unit is one share and one warrant exercisable at 30 cents. The cash will finance field work at the Tugaske potash project. The share price slipped 11.1% to 6p.
Tertiary Minerals (LON: TYM) has raised £150,000 at 0.12p/share. The share price declined 10.7% to 0.125p. Peterhouse is being issued 6.25 million warrants exercisable at 0.12p each. The cash will be used for exploration at its projects in Zambia and Nevada.
Managed IT services Sysgroup (LON: SYS) says lower value-added product sales mean that group interim revenues fell 3% to £11m. Following deferred payments and share buy backs, net debt was £3.43m at the end of September 2023. There is also deferred consideration of £1.84m. The share price fell 9% to 40.5p.
Payment services developer Tintra (LON: TNT) reported its interims after the market closed on Tuesday. Management says that growth has been held back by issues moving funds from the Middle East, administrative distractions and extracting the company from a finance facility. There are no revenues and the loss increased from £444,000 to £1.38m. Bid talks continue for the 150p/share offer. The share price dipped 6.45% to 72.5p.
Payment security technology developer Eckoh (LON: ECK) says new contracts have been delayed into the second half. Interim revenues fell from £19.6m to £18.8m due to the loss of a Large UK contract. Margins improved, so operating profit was 17% higher at £4.1m. Net cash is expected to be £7.3m. There is a record pipeline of new business. Singer lowered its full year revenues forecast by 6% to £39.6m, which is still higher than last year. The pre-tax profit forecast is maintained at £8.3m. The share price fell 5.88% to 40p.
