Guardian Metal Resources (LON: GMET) believes that the tightening of export controls by China enhances the potential for its tungsten project in Nevada. Drilling at the Pilot Mountain project is progressing well. This will support the pre-feasibility study, and the next batch of results should be available in the next few weeks. The share price jumped 19.2% to 28p.
TruFin (LON: TRU) says revenues and EBITDA are well ahead of expectations. Revenues will jump from £18m to £42m. The 2024 pre-tax loss will fall from £6.6m to £2.5m. Games company Playstack has been the main reason behind the upgrade. Net cash should be £6m at the end of 2024. The share price improved 14.8% to 73.5p.
MediaZest (LON: MDZ) has completed a proof of concept project to supply 50 digital currency boards to UK Post Office branches. The service agreement contract is with First Rate Exchange Services. There is a potential market of 1,500 Post Offices. The share price increased 13.3% to 0.085p.
ValiRx (LON: VAL) says that subsidiary Inaphaea BioLabs has confirmed shipment of the first batch of Patient Derived Cells, which are part of a new range of assay ready reagents. The share price rose 12.7% to 1.55p.
FALLERS
Cannabis-based medicines developer Celadon Pharmaceuticals (LON: CEL) has received a further £200,000 drawdown from the committed credit facility and the lender is committed to providing the remaining £500,000. However, it has to sell an investment to provide the cash. There is still £400,000 outstanding from a share subscription. Celadon Pharmaceuticals has enough cash to get it to January. Talks with another lender continue. The share price slumped 30.4% to 19.5p.
Scientific instruments supplier Judges Scientific (LON: JDG) says order intake has reduced if the large Geotek contract is excluded. China is particularly weak, but other markets are also tough, and orders have been deferred. Zeus has cut its 2024 pre-tax profit forecast by 19% to £25m. Next year’s forecast has also been trimmed. The share price fell 12.8% to 8940p.
Autins Group (LON: AUTG) finance director Kamran Munir has resigned with immediate effect. The acoustic materials company will shortly commence the search for a replacement. The company year end is September. The share price slipped 11.8% to 7.5p.
Semiconductor wafers supplier IQE (LON: IQE) is discussing a potential £15m convertible loan note financing from Lombard Odier, its largest shareholder. The conversion price is 15p. There should be no current need for a share issue. There has been a slower than expected recovery in the main sectors because of weak consumer demand. A strategic review will b undertaken. The business in Taiwan was going to float on the local stockmarket, but IQE may consider an outright sale. The share price dipped 4.21% to 10.23p.