CPP Group (LON: CPP) is selling its business in Turkey for £4.6m and it may also sell its operations in India. The initial payment is £3.1m. CPP wants to concentrate on its parametric Insurtech business Blink, which has won a £1.5m licence agreement with Mehrwerk for its cyber security product. Blink generated revenues of £1.1m in 2024 and that should more than double to £2.5m this year. It will remain loss making. The funds from disposals will be reinvested in Blink, which should accelerate growth, and finance the restructuring of the group. The share price soared 40.7% to 115p.
Tiger Royalties and Investments (LON: TIR) says the recently acquired Tiger Alpha Bittensor Subnet is producing six TAO, Bittensor’s cryptocurrency, after one month. The monthly run rate is equivalent to almost $70,000. TAO has a total market value of $3.4bn. Tao Alpha will manage and accelerate the Tiger subnet infrastructure in return for 20% of the revenues. The share price increased 30.3% to 0.215p.
Goldstone Resources (LON: GRL) says 2025 gold production at the Homase mine in Ghana averaged 468 ounces of gold dore each month up until the end of May. The average cost per ounce has fallen to $1,814. The 2024 accounts will be published on 30 June. The share price rose 13% to 0.65p.
Bezant Resources (LON: BZT) says the Blackstone and IDM merger has become effective and it will receive 139.4 million Blackstone shares and 2.54 million warrants exercisable at A$0.06 each. IDM has an interest in the Mankayan copper gold project in the Philippines. The share price improved 11.7% to 0.0335p.
FALLERS
Cash shell Electric Guitar (LON: ELEG) has raised £775,000 at 0.08p each and this will fund the costs of securing a potential acquisition. The most likely acquisitions are in the AI and energy sectors. Main shareholders Sanderson Capital and Mayford 1TN each subscribed for 187.5 million shares. Novum Securities has been appointed joint broker. Trading in the shares will be suspended on 25 June because a reverse takeover has yet to be secured. There will be six months to find a target. The share price slipped 22.2% to 0.07p.
Mongolia-focused oil and gas producer Petro Matad (LON: MATD) has received the first payment of $1.18m for oil from the Heron-1 well on Block XX. This covers production between October 2024 and the end of April 2025, but it is only 70% of the invoiced amount. The rest is being held back until the tax position is clarified. Shore Capital estimates that the total payment is equivalent to $51/barrel. Production is currently 160 barrels/day. Petro Matad is in discussions to bring in partners for Block XX. The share price declined 10.2% to 1.325p.
Mobile financial services provider Mobility One (LON: MBO) says it expects to publish 2024 accounts before the end of June. The loss is expected to increase £1.41m to £3.45m. Net debt was £3.09m at the end of 2024. Two major transactions have still not been completed. The share price fell 9.68% to 1.4p.
Oxford Metrics (LON: OMG) reported interims in line with expectations. Motion capture revenues fell compared with a strong comparative period. Acquisitions boosted the smart manufacturing revenues. Group revenues fell from £23.5m to £20.1m and Oxford Metrics slipped into loss. There was cash of £39.9m at the end of March 2025. Share buybacks are continuing and the amount has been increased by £4m. There is a second half weighting to the business and the company is still expected to improve full year pre-tax profit from £3.7m to £3.8m. The share price dipped 9.17% to 52.5p.