Waste to energy technology developer Eqtec (LON: EQT) has refinanced debt facilities with a new non-dilutive secured facility for up to £10m. Repayments will be based on performance rather than regular monthly payments. This includes 20% of cash generated in a fundraising and 25% of cash inflows. The fixed coupon is 9.5%. The share price recovered 17% to 1.55p.
Oil and gas producer Block Energy (LON: BLOE) reported a jump in 2023 EBITDA from $200,000 to $1.5m, helped by higher production and cost cutting. That was before a non-cash impairment charge of $2.2m. There was $700,000 in cash at the year-end and $2m loan facility that will need refinancing by August. The share price improved 11.3% to 1.475p.
Kodal Minerals (LON: KOD) says progress has been made on road construction and other capital investment for the 49%-owned Bougouni lithium project. Drilling continues so that the resource can be extended. Capex will be $65m and joint venture partner has provided $117.5m. The share price rose 7.95% to 0.475p.
Celadon Pharmaceuticals (LON: CEL) has shipped two different medical cannabis products to the US. Celadon supplies an American business that supplies US government departments. A European sales contract should begin in the second half of 2024. The share price increased 2.5% to 102.5p.
FALLERS
Clontarf Energy (LON: CLON) raised £300,000 at 0.035p/share and the market price dipped 16.7% to 0.0375p. The cash will be spent on lithium projects in Bolivia and petroleum projects elsewhere.
Karelian Diamond Resources (LON: KDR) says that the Finnish Land Court will give its judgment on two landowners’ compensation claim on 12 August. This relates to the development of the Lahtojoki diamond deposit. The share price declined 10.9% to 2.85p.
MRI device developer Polarean Imaging (LON: POLX) shares continue to fall following the launch of a placing, subscription of open offer. The placing and subscription raised £8m at 1p/share with £2m of that invested by NUKEM Isotopes and £1.6m by Bracco – both existing investors. Up to £2m could be raised from an open offer. The share price slipped 8.62% to a new low of 1.325p.
Energy and water efficiency services provider Eneraqua Technologies (LON: ETP) reported 2023-24 results in line with the trading statement earlier in the year. The business moved from a pre-tax profit of £10.1m to a £6m loss as contracts were delayed. Cost savings have been put in place and additional work has been won so Eneraqua Technologies could move back into profit this year. A change of government could lead to additional incentives for energy saving projects. The share price still fell a further 7.69% to 36p.
Ex-dividends
Andrews Sykes (LON: ASY) is paying a final dividend of 14p/share and the share price declined 15p to 607.5p.
Avingtrans (LON: AVG) is paying an interim dividend of 1.8p/share and the share price is 5p lower at 415p.
Burford Capital (LON: BUR) is paying a final dividend of 4.91p/share and the share price slipped 2p to £11.01.
Empersaria (LON: EMR) is paying a final dividend of 1p/share and the share price fell 1p to 39p.
Fintel (LON: FNTL) is paying a final dividend of 2.35p/share and the share price 1.5p ahead at 298.5p.
HSS Hire (LON: HSS) is paying a final dividend of 0.38p/share and the share price dipped 0.625p to 10.075p.
Keywords Studios (LON: KWS) is paying a final dividend of 1.76p/share and the share price is 1p higher at £22.01.
Lords Group Trading (LON: LORD) is paying a final dividend of 1.33p/share and the share price is unchanged at 47p.
Mincon Group (LON: MCON) is paying a final dividend of 1.05 cents/share and the share price slipped 1p to 45p.
Nexus Infrastructure (LON: NEXS) is paying an interim dividend of 1p/share and the share price is unchanged at 100p.
Niox Group (LON: NIOX) is paying a final dividend of 1p/share and the share price declined 2p to 70.8p.
Weiss Korea Opportunity Fund (LON: WKOF) is paying a final dividend of 5.19p/share and the share price is unchanged at 175p.