Firering Strategic Minerals (LON: FRG) announced a maiden JORC compliant mineral resource estimate for the quicklime project in Zambia. This shows a near-doubling of the resource tonnes compared with the 2017 estimate. There is 145.2Mt at 95.7% CaCO3, including 11.8Mt in the measured category. This could provide more than 50 years of production. There is growing demand from copper and industrial clients. The share price is 6.48% ahead at 5.75p.
Mkango Resources (LON: MKA) has appointed Cohen & Company as US financial adviser for Lancaster Exploration, which owns the Songwe Hill rare earth project in Malawi and the Pulawy rare earth separation plant project in Poland. This could herald a US listing for these operations or other transactions. The share price increased 6.45% to 8.25p.
Faron Pharmaceuticals (LON: FARN) says that the interim phase 2 read out from the BEXMAB trial confirms earlier positive findings in myelodysplastic syndrome (MDS) patients with prior hypomethylating agent (HMA) failure. This is based on 20 patients with more being enrolled. There will be another efficacy read out in the first quarter of 2025. The share price rose 6.25% to 170p.
Rockwood Strategic (LON: RKW) has built up a 4.54% stake in Kooth (LON: KOO). This follows Canaccrd Genuity cutting its stake from 8.97% to 3.38%. River Global Investors recently nearly doubled its stake to 10.1%. The share price of the digital mental health services provider has slumped since it lost a contract in Pennsylvania, but it has recovered 6.71% to 175p.
Sensing and measuring equipment developer Transense Technology (LON: TRT) revenues have increased 48% so far in this financial year, with the core operations growing revenues by 85%. Costs of scaling up the business mean that profit is 10% higher. Net cash was £1.72m at the end of October 2024. The share price improved 4.17% to 187.5p.
One Media IP (LON: OMIP) is selling TCAT, which monitors unauthorised exploitation of music, to digital agency Round Group in return for a 5% stake in the purchaser. One Media IP is loaning £175,000 to Round Group. TCAT lost £566,000 last year, so the deal will improve profitability of the group. The share price moved up 5.48% to 3.85p.
FALLERS
Helix Exploration (LON: HEX) reports that the Amsden formation at the Clink#1 well in the Ingomar Dome in Montana has sub-economic grades of helium. Amsden was always thought to be a small proportion of the potential resource. The more important Flathead formation at the same well had 2.5% helium. The company believes that there could be helium below the Amsden formation and there will be appraisal testing of the Charles formation. Investor sentiment is likely to be volatile and the share price slumped 31.5% to 15p.
Galantas Gold (LON: GAL) had cash of C$383,000 at the end of September 2024. That was after a cash outflow from operations of C$139,000 and C$2.1m of capital investment. The share price dipped 12.8% to 4.25p.
Strix (LON: KETL) says that the kettle controls market has weakened, particularly in higher margin markets in the UK and Germany. The positive signs in the first half did not continue. This is due to poor consumer confidence, while there are also cost pressures. Zeus has reduced its 2024 pre-tax profit forecast from £23.6m to £17.5m, with a modest recovery to £18.2m expected in 2025. The share price slipped 7.39% to 55.75p.