Orosur Mining Inc (LON: OMI) says assays from one of the three drill holes at the Pepas prospect in Colombia have shown substantial high-grade gold intersection. More holes are being drilled. Joint venture partner Minera Monte Aguila has operational control and has spent $4m in the financial year. This sparked a 37.9% jump in the share price to 16.55p.
Ethernity Networks (LON: ENET) has recouped some of last week’s losses with a 24.3% gain to 11.5p. The shares have commenced trading on the OTCQB Venture Market in the US, but it is difficult to see this being of much benefit to the share price in the short-term.
RAB Capital has taken a 4.02% stake in Strategic Minerals (LON: SML) and the shares are one-fifth higher at 0.3p.
Verici DX (LON: VRCI) has revealed positive initial results from its validation study for pre-transplant prognostic test Clarava. This has shown to be effective in identifying patients that are likely to reject a transplant. There will be an extended study for a further six months. The share price rose 8.57% to 19p. Interim figures will be published tomorrow.
Building products supplier Alumasc (LON: ALU) reported improved pre-tax profit on continuing activities following the sale of the loss-making Levolux business. Revenues increased from £77.8m to £89.3m, while underlying pre-tax profit improved from £10m to £12.7m. Demand for water management and building products remains strong in the new financial year, although finnCap is being cautious with its forecast and assuming a decline in operating margin and pre-tax profit in 2022-23. The share price edged up 8.55% to 165p. That means that Alumasc is valued at seven times prospective earnings and has a forecast yield of 6%.
Trading is holding up well at building and plumbing products distributor Lords Group Trading (LON: LORD) even though problems with boiler supply hampered the plumbing division in the first half. First half revenues were one-fifth ahead at £214.2m and they are set to hit £435m for the full year. Interim pre-amortisation profit improved from £9m to £11.3m. The interim dividend is 0.67p a share. The share price moved 7.14% higher at 75p.
Ondine Biomedical Inc (LON: OBI) has announced results for its US phase 2 trials of its nasal photodisinfection treatment, which eliminated or significantly decreased Staphylococcus aureus in 92% of carriers treated. The treatment was safe and well tolerated. The full results will be published in November. There will then be multi-site phase 3 trials to move towards FDA approval. The share price improved by 7.14% to 41.25p.
Brownfield land developer Inland Homes (LON: INL) says delays in receiving planning consents and selling sites mean that it will make a loss in the year to September 2022 and a strategic review is underway. There are also problems with poor margins in the partnership housing and housebuilding operations. There will be £19.4m of cost and design provisions related to these operations as well as £4.7m of credit loss provisions. The total loss is expected to be £37.1m. If a land sale is made before the end of the month then that could generate a profit of £25m to offset against the loss estimate. A subsidiary’s borrowings will breach their interest covenant, although management believes it can negotiate a waiver. The share buyback will be ended. Founder Stephen Wicks is retiring as chief executive and finance director Nish Malde will become interim chief executive. NAV is estimated to be 65p a share. The share price slumped by one-third to 18.25p.
Chaarat Gold (LON: CGH) has fallen % to p after a fatality at the Kapan mine. Production guidance is unaffected. The share price fell 4.15% to 10.4p.
