finnCap (LON: FCAP) has ended bid talks with fellow broker Panmure Gordon. It was not possible to find a mutually acceptable structure or terms for the merger. The finnCap share price dived 21% to 14.625p. finnCap will report its interim figures in December.
Trading in Thor Mining (LON: THR) shares has been suspended on the ASX ahead of a fundraising, but trading continues on AIM and the share price has fallen by 11.1% to 0.4p. Thor Mining will use the cash to accelerate the exploration activity in its uranium projects in the US. Drilling has commenced at the Wedding Bell project in Colorado, US. Some cash will go on the Ragged Range gold lithium nickel project in Western Australia. This follows news of a farm-in agreement for the non-core Molyhill project in Australia.
Fuel technology developer Quadrise Fuels International (LON: QFI) continues to make progress in its strategy to generate commercial revenues in the year to June 2023. The share price declined 4.71% to 2.43p.
LED lighting and electro-mechanical systems manufacturer LPA Group (LON: LPA) says trading improved in the second half. Increased prices and supply problems are still hampering progress, but the problem is being managed. There should still be a small trading loss for the year. The order book is worth £28m. Earlier this month, Peter Gyllenhammar increased his stake from 18.4% to 19.2%. There was a 3.36% dip in the share price to 72p.
North Sea oil and gas company IOG (LON: IOG) has restarted production from both Blythe and Elgood gas fields into the Saturn Banks pipeline system. The Southwark gas field should be linked up by the beginning of next year. The share price jumped by 42,8% to 16.775p.
Tertiary Minerals (LON: TYM) has received government approval for the earning of up to a 90% interest in the Konkola West and Lubuila copper projects in Zambia. The share price rose by 16.2% to 0.215p.
Omega Diagnostics (LON: ODX) has received the £4m deferred consideration for the sale of the CD4 business. Net cash is expected to be £6.2m by the end of March 2022. This can be used to expand the health and food intolerance operations. The US is a market where more investment is planned. Omega Diagnostics remains loss making but could move into profit in 2023-24. The share price improved by 6.94% to 3.85p.
