Argentex Group (LON: AGFX) has received a non-binding proposal from Lavide Holding NV for a £2.5m investment in shares and the provision of a £15m credit facility. This has been rejected because it is not a full offer for the company. The share price rebounded 29.6% to 3.175p.
EnergyPathways (LON: EPP) has engaged Zeith Energy as its well engineering partner for the Marram Energy Storage Hub (MESH) integrated energy storage project in the Irish Sea. The share price increased 13.1% to 5.6p.
Empire Metals (LON: EEE) says the latest results from the product development test programme at the Pitfield project in Western Australia. The TiO2 is high purity and assays at 99.25%. This is suitable for titanium sponge or pigment production. The bulk sampling programme continues. The share price rose 14.5% to 16.15p.
Cosmetics supplier Revolution Beauty (LON: REVB) has confirmed that there are a number of parties interested in making an offer for the company and they include fully listed Frasers Group (LON: FRG). Boohoo Group (LON: BOO) is the largest shareholder with 29%. The share price improved 9.56% to 7.91p.
Audio visual services provider MediaZest (LON: MDZ) has appointed Keith Edelman as chairman. He has previously been chief executive of Storehouse. The company believes it can return to profit in 2025. The share price
Galantas Gold Corporation (LON: GAL) has entered into a binding term sheet with Ocean Partners UK to joint venture the Omagh gold project in Northern Ireland. Ocean Partners will swap £10.3m of loans for 80% stakes in Flintridge Resources and Omagh Minerals. Galantas Gold will own the other 20%. Ocean Partners can convert the remaining £738,000 of remaining debt into a 0.001% interest in Flintridge after mining has restarted. Ocean Partners will invest an additional £2.2m in the Omagh project and has the option to invest a further £3.7m. The deal means that Galantas Gold will be reclassified as a cash shell. There is an option to convert the 20% stake in Flintridge into a 3% net smelter royalty. Melquart, which own 24.5% of Galantas Gold will convert its debt and interest of £781,000 into 17.6 million shares at 4.4p each. That will increase its stake to 35.4%. The share price is 9.09% higher at 6p.
Video games developer Frontier Developments (LON: FDEV) is launching Jurassic World Evolution 3 on 21 October. The game allows players to nurture dinosaurs. The latest film Jurassic World Rebirth is set to be released on 2 July. The share price moved up 6.3% to 265.75p.
FALLERS
Transport analytics services provider Cordel (LON: CRDL) says economic conditions, particularly in the US, have led to delays in revenues. This is despite continued contract wins. Cavendish has cut its forecast 2024-25 revenues from £6.2m to £4.8m, although the loss will be similar at around £400,000. Cordel is no longer expected to make a profit in 2025-26. There will still be net cash. The share price lost some of last week’s gains and fell 12.3% to 7.125p.
Catenai (LON: CTAI) investee company Alludium has been accepted into two start up programmes with AWS Activate and Atlassian. The share price declined 6.33% to 0.37p.
Mosman Oil & Gas (LON: MSMN) says moving the drilling rig to the Vecta project has been delayed by rainfall in Colorado. The share price slipped 6.1% to 0.0385p.