Gfinity (LON: GFIN) is commercialising AI technology Connected IQ under licence from 0M Technology Solutions, and first revenues were generated in April. Talks are underway with large advertising agencies to use the technology in brand campaigns and for the provision of services. Additional sales personnel have been hired. Gfinity has formed Yentra.AI to bring together the software engineering, AI consulting and web 3 development operations for commercial customers. Gfinity owns 51% and management the rest. The share price improved 22.2% to 0.0825p.
Oil and gas producer Prospex Energy (LON: PXEN) says the Selva Malvezzi production concession in Italy, where it has a 37% interest, generated average daily production was 77,292scm. The Prospex Energy share of income was €1.24m. An application has been made to drill four more holes and 3D seismic survey data will be acquired. The temporary halt to production at Viura in Spain due to a leak in the completion tubing at the Viura 1-B well will reduce income from there. Production should resume in mid-June. The share price rose 2.69% to 5.75p.
FALLERS
Shares in Mirriad Advertising (LON: MIRI) continue to fall following yesterday’s statement that cash fell to £2.7m at the end of March 2025 with monthly cash burn of up to £750,000. There were talks about a possible offer for the company, but they have ended. The in content advertising company needs to raise more cash, and management is considering placing the company in administration if it cannot obtain additional funds. An additional decline of 16.7% takes the share price to 0.035p.
Xtract Resources (LON: XTR) reported further assay results from the Silverking copper project in Zambia, where it can earn a stake of up to 70%. These double the strike extent of the high-grade mineralisation to more than 160 metres. Drilling will continue down to 400 vertical metres. Lower grade copper mineralisation could be commercially processed. The shares dipped 5% to 0.95p.
Trading continues on AIM and in South Africa in Kore Potash (LON: KP2) although it was suspended on ASX ahead of draft financing proposals for the Kola project. The ASX suspension will be lifted when the negotiations and agreement of the draft financing proposal and associated non-binding term sheets received from the Summit consortium are completed. The share price declined 3.72% to 2.85p, but it is still higher on the week.
David and Sharon Hudaly revealed a 3.43% stake in healthcare services provider Totally (LON: TLY) following yesterday’s launch of a strategic review after a downgrading of expectations for the year to March 2025. EBITDA expectations have been downgraded from £3.5m to between nil and £2m. The finance director has left. There is a tight cash position and that has sparked the review to decide how to strengthen the balance sheet. The share price slipped a further 3.57p to 1.35p.