Ethernity Networks (LON: ENET) says 2024 revenues declined to $1.38m and it spent $2.45m on R&D. There should be an increase in royalty payments this year. In the first four months of 2025, £700,000 of cash was collected, but more cash will need to be raised. There is a significant opportunity in ASICs. The share price jumped 71.4% to 0.03p, having been as high as 0.06p earlier in the morning.
Europa Metals (LON: EUZ) sold 1.5 million shares in Denarius Metals Corp at an average price of C$0.5569 each. That generated £450,000. Europa Metals still owns 5.5 million Denarius Metals Corp shares. The cash will be used to pay creditors and options for the business are being assessed. The share price increased 27.8% to 1.15p.
Yesterday evening, Star Energy (LON: STAR) completed the sale of the Holybourne site in Hampshire for £6.3m. The share price improved 16% to 7.39p.
First Property Group (LON: FPO) says full year pre-tax profit will significantly exceed expectations. One-off profit on property disposals by managed funds in which it has an associated interest and early fee payments have boosted the outcome for the year to March 2025. The chief executive has voluntarily reduced his salary by 15% and total annual savings are £650,000. The results will be announced on 19 June. The share price is one-eighth higher at 13.5p.
Great Western Mining Corporation (LON: GWMO) says the mill construction is substantially complete at the 50%-owned Western Milling joint venture in Nevada. Initial trial production should start soon. There are already plans to expand capacity. This will require some third-party finance, and a specialised mine engineering company will be brought in. The share price rose 8.94% to 1.95p.
FALLERS
CleanTech Lithium (LON: CTL) says that the Chilean government has turned down its special lithium operating contract application for the Laguna Verde project, which would enable commercial production of lithium. It can enter a short public tender process. CleanTech Lithium will appeal the decision. The share price slumped 21.3% to 8.5p.
Greenstone Resources II and Fratelli Investments have sold 15.7 million shares in Brazil-focused gold miner Serabi Gold (LON: SRB) at 135p each. Fratelli still owns 9.99%. Greenstone Resources II sold all its 5% stake. The share price is one-sixth lower at 145p.
Market research services provider System1 Group (LON: SYS1) says 2024-25 revenues are one-quarter higher at £37.4m, but that is slightly below forecast. However, Canaccord Genuity has increased its pre-tax profit forecast from £5m to £5.2m due to improved margins. Economic uncertainty is persisting, but further growth is expected this year. Despite that, the share price declined 13.1% to 465p. That is 17 times estimated 2024-25 earnings.
Orosur Mining (LON: OMI) has reported results of five more holes at Pepas, which is part of the Anza project in Colombia. Drilling will start in North Pepas soon. Sampling has expanded the high grade anomalous zone. The share price slipped 8.56% to 11.75p.