Scirocco Energy (LON: SCIR) is near to completing the disposal of its interest in the Ruvuma project in Tanzania. The tax liability is assessed as $150,000. The licence will then be transferred to ARA Petroleum. A payment of $2.5m will be received on completion. A further $13m is payable depending on achieving targets and a revenue share on production. The share price jumped 22.2% to 0.55p.
Video games producer Team17 (LON: TM17) says that trading is in line with expectations, which contrasts with many of its rivals. Interim figures will be reported on 19 September. The share price rose 5.41% to 9.75p.
Mkango Resources (LON: MKA) says that Magnito, where it owns 90%, has taken full ownership of HyProMag. Mkango Resources has paid £1m in cash and £1m in shares with £3m payable in four contingent milestones. HyProMag is developing a £4.3m short loop recycling facility in Birmingham and another facility in Germany. The share price is 5% ahead at 9.75p.
Maintel Holdings (LON: MAI) says that its performance improved in the first half. The share price of the communications company rose 2.78% to 185p. Revenues improved from £46.7m to £47.5m and EBITDA edged up to £3.7m. Net cash was £21.4m at the end of June 2023.
FALLERS
More bad news from video games producer Devolver Digital (LON: DEVO) has knocked 25.6% off the share price leaving it at 14.5p. It does not expect to make a profit this year because of delays in games releases and weaker than expected back catalogue revenues. Revenue forecasts have been cut by more than one-fifth to $90.4m. Four months ago, the forecast revenues were $127.7m, so this is the second downgrade in recent months.
Alien Metals (LON: UFO) has commenced the definitive feasibility study for the Hancock iron ore project. The plan is to begin production during 2024. The share price fell 15.2% to 1.4p.
Europa Oil & Gas (LON: EOG) has a 30% interest in the Wressle 1 well, which is producing a small amount of water. The company says that this suggests recoverable volumes will be larger than expected. A new report on the resources has been delayed but should be completed in the near future. The share price is 9.26% lower at 1.225p. Union Jack Oil (LON: UJO) shares declined 2.02% to 24.25p. Union Jack owns 40% of Wressle and has generated $17m in income from the well since August 2021.
Ex-dividends
CML Microsystems (LON: CML) is paying a final dividend of 6p a share and the share price fell 15p to 430p.
Samuel Heath & Sons (LON: HSM) is paying a final dividend of 7.56p a share and the share price is unchanged at 425p.
James Latham (LON: LTHM) is paying a dividend of 28.8p a share and the share price declined 15p to 1285p.
Nichols (LON: NICL) is paying an interim dividend of 12.6p a share and the share price slipped 32.5p to 1017.5p.
RTC Group (LON: RTC) is paying an interim dividend of 1p a share and the share price is unchanged at 40p.
