Eden Research (LON: EDEN) has gained temporary approval for the Ecovelex bird repellent seed treatment for corn in Italy for the 2024 growing season. This was developed with Corteva Agriscience and EU approval is being progressed and that could be achieved in 2025, although it may take until 2026 to gain approvals for local use. The share price is 15.9% higher at 4.75p.
N4 Pharma (LON: N4P) says experiments have confirmed the successful administration of oral delivery system Nuvec for oligonucleotides including DNA and RNA. The test used DNA plasmid for ovalbumin. Decisions are being made on the next phase of work and there will be further news next year. The share price increased 9.68% to 0.85p.
Trading in Trafalgar Property Group (LON: TRAF) shares has recommenced following the publication of 2022-23 accounts and interims to September 2023. The residential property developer is losing money and cash has fallen to less than £13,000. The company is developing a residential site at Speldhurst and it is seeking opportunities in vertical farming. The share price recovered 7.69% from its ten-year low to 0.07p.
Thor Energy (LON: THR) investee company EnviroCopper has reached agreement with Andromeda Metals to acquire the Alford West property and combine it with Alford East in return for a 5% stake in EnviroCopper and A$50,000 in cash with deferred consideration of a 10% share of any successful mining operations. There will also be a A$150,000 cash payment when a mining lease is granted. Alligator Energy is making a A$900,000 strategic investment in EnviroCopper to help fund its copper projects. That will give it a 7.8% interest and further investments could take the stake to 50.1%. Thor Energy’s stake has been diluted to 26.5%. The Thor Energy share price rose 6.9% to 1.55p.
FALLERS
Supercapacitors manufacturer Cap-XX (LON: CPX) has lost a patent infringement case in the US with Tesla subsidiary Maxwell Technologies Inc. The case affirmed that the Cap-XX patents were invalid, so Maxwell Technologies does not infringe them and does not have to pay licence fees or damages. The share price slumped 57.4% to 0.725p.
Fewer M&A deals completed by Convex Capital has hit the 2023 outcome for RBG Holdings (LON: RBGP). The core legal services business was also disappointing. It means that there will be a small loss for 2023, rather than a pre-tax profit of £5.6m. Net debt is likely to be £23.1m at the end of 2023, just below the total facility level of £24.5m. The share price slumped 34.9% to 10.75p.
Trinity Exploration and Production (LON: TRIN) says initial flow rates at the Jacobin well at the Lower Cruise 1 zone have started to decline. The presence of water and gas was not anticipated. Data gathering will identify the problem and help to solve it. The Jacobin well has cost $8.3m. Production guidance for 2023 is 2,800-2,900 barrels of oil per day. Changes to Trinidad taxation will boost Trinity Exploration and Production next year. The share price is down 18.8% to 32.5p.
Tower Resources (LON: TRP) has raised £600,000 at 0.02p/share. A deal with Borr Drilling has secured the Norve jack-up rig to drill the NJOM-3 well on the Thali licence in Cameroon. The rig should be available between April and August. The share price is one-eighth lower at 0.021p.