GreenRoc Mining (LON: GROC) has risen on the back of China’s import restrictions on graphite that can be used for batteries. China processes 90% of graphite used in batteries for electric vehicles. GreenRoc Mining is developing the Amitsoq graphite project in South Greenland. This could be in production in a few years. The share price increased 11.4% to 3.9p. Alba Mineral Resources (LON: ALBA) owns 43% of GreenRoc Mining and its share price is 3.12% higher at 0.0825p.
Beowulf Mining (LON: BEM) says environmental studies are progressing at the Kallak iron ore project. A pre-feasibility study has been initiated. Material has been sent for metallurgical testing. A project leader is being recruited. The share price improved 10.9% to 1.1525p.
Security products supplier Thruvision (LON: THRU) has raised £3.2m at 23.5p/share. The share price rose 9.09% to 24p. The money has been invested by Pentland Capital, which has taken a 10% stake, and existing shareholders. The cash will be invested in sales and marketing. Earlier this month, Thruvision revealed that it had not received the expected order from US Customs and Border Protection due to budgetary problems. Forecast revenues for 2023-24 were slashed by two-fifths to £8.1m – £3.5m has been generated in the first half. A full year loss of £3.2m is expected.
Electro-mechanical and lighting products supplier LPA Group (LON: LPA) returned to profit in the second half and order intake is 30% ahead at £25.7m. Cavendish has downgraded its 2022-23 full year forecast to breakeven. A final dividend is promised. Orders that were delayed are beginning to flow through. A 2023-24 pre-tax profit of £800,000 is forecast. The share price is 8% ahead at 81p.
FALLERS
FD Technologies (LON: FDP) says that it expects a small decrease in revenue in the year to February 2023. Previous consensus was an 8% increase to £320m. Pre-tax profit was already expected to decline, but it will fall further than those expectations. Investment in KX is being accelerated to improve longer-term growth. This will be funded by group cash and debt. Annual recurring revenues of £180m are targeted for 2025-26. They are currently £69.3m. The share price fell by one-third to 865p.
R&Q Insurance Holdings (LON: RQIH) shares continue to decline following Friday’s announcement that it is selling its program management business. The disposal should generate $300m of net proceeds. This cash will be used to pay down debt. The group chief executive and finance director will leave with the disposal. The share price dipped a further 26.2% to 17.725p, which is nearly two-thirds down on one week ago.
Leeds Group (LON: LDSG) reported a decline in revenues to £27.8m, but it did manage to reduce its loss from £3.25m to £893,000. Fabrics supplier Hemmers improved its revenues but was still loss making after consultancy charges. The KMR subsidiary has been placed in insolvency so there are no more losses to come from this operation. Net debt is £5.8m. The share price slumped 22.2% to 10.5p.
There has been a temporary development pause at the Havieron project. Greatland Gold (LON: GGP) says that there are greater volumes of water discovered following drilling. The feasibility study is expected in the September 2024 quarter. The share price declined 15.3% to 6.35p.
