Tin explorer Rome Resources (LON: RMR) says drilling operations continue at Bisie North despite the security concerns in the Democratic Republic of Congo. The logistical base of the business has been moved 200km northwest of Bisie North, which maintains a safe distance from the Rwanda border. There should be further assay results later in February. The share price recovered 11.8% to 0.285p.
Retail and promotional company SalesandPeople (LON: SAL) had a strong second half and a trading statement says revenues were better than expected at £6.8m. However, additional staff and bonus payments mean that pre-tax profit is line with forecasts with earnings of 8.9p/share. Net cash was £1.1m at the end of 2024. A new five year deal with Network Rail for promotional kiosks at train stations lasts until September 2029. The share price rose 11.1% to 100p.
Strategic Minerals (LON: SML) has identified additional mineralisation at the Redmoor tungsten and copper project in Cornwall. This will add to a future update of the mineral resource estimate, which is six years old. The total inferred resource was 11.7 million tonnes at 0.82% tungsten equivalent. Further drill core from 2017 will be relogged to support the remodelling of the deposit. The share price is 11.1% higher at 0.25p.
Agricultural products supplier Wynnstay (LON: WYN) reported a small dip in gross profit for the year to October 2024, but higher energy and labour costs meant that pre-tax profit reduced from £10.3m to £7.6m. Higher prices for milk and other agricultural products provide a more favourable background for this year. Even after a £600,000 National Insurance cost increase, pre-tax profit is expected to recover to £8.5m this year. A three-year programme called project Genesis will help to improve efficiency and there will be investment in additional feed capacity. The share price increased 10.9% to 315p.
FALLERS
Crimson Tide (LON: TIDE) has agreed a merger with Checkit (LON: CKT). Shareholders will receive six Checkit shares for each Crimson Tide share. This ratio is based on the relative annual recurring revenues of each company. Checkit has been interested in a merger for four years and an indicative offer was made and rejected. Following the decision of Ideagen last July not to make a cash bid the two companies commenced discussions. The deal will increase the scale of the workflow management business. The Checkit chief executive and finance director remain in the roles. Crimson Tide is valued at £6.5m (99p/share) at the Checkit closing price on Monday and shareholders will own 26.8% of the enlarged group. The Checkit share price slid 4.55% to 15.75p, which values each Crimson Tide share at 94.5p. The Crimson Tide share price declined 11.9% to 92.5p.
Cleantech Lithium (LON: CTL) has raised £2.4m at a share price of 16p. The cash will go on capital investment at the Laguna Verde lithium project in Chile and produce battery grade lithium to provide to potential off-takers and partners. It will also help to fund expenses for the proposed listing on the ASX. The share price slipped 7.69% to 15p.
Oil and gas company Empyrean Energy (LON: EME) has raised £625,000 at 0.125p/share and this will fund the share of costs at the Wilson prospect. Empyrean Energy has secured the right to earn an additional 12.8% interest in the Wilson River-1 well, taking the stake to up to 52.8%. The share price fell 5.97% to 0.1575p.
ECR Minerals (LON: ECR) reports exploration results from the Lolworth gold and critical minerals project in Queensland showing nine samples yield gold of 9ppm with three high grade samples. The more significant results came from creeks in the headwaters of Fat Hen Creek, which suggests that there is an undiscovered gold source in the surrounding hills. The latest exploration campaign will be focused on five key gold prospects. The share price dipped 4.39% to 0.2725p.