Bluejay Mining (LON: JAY) says there are indications of potential helium and hydrogen accumulations at the Outokumpu licences in Finland. There is up to 5.6% helium and 46% hydrogen, plus other gases. Seismic data has been acquired to identify high potential areas. Helium and hydrogen is the new focus of the company. The share price jumped 53.3% to 0.46p.
Linear generator technology developer Libertine Holdings (LON: LIB) has entered into a conditional subscription agreement with equity investors based in India and Dubai. This could raise £2m at 1.5p/share. This would involve the issue of shares equivalent to 49% of the enlarged share capital. This would provide funds for working capital until June 2025, but Libertine is not likely to breakeven in that time frame. The share price recovered 16.7% to 1.75p.
Echo Energy (LON: ECHO) has formed a joint venture in Peru covering gold and silver mining and the cleaning of tailings deposits. Mining revenues could commence before the end of the year. The initial production could be 147 ounces/month. The share price rose 9.68% to 0.0034p.
Feedback (LON: FDBK) has been awarded a contract by Queen Victoria Hospital NHS Foundation Trust for its Bleepa Community Diagnostics Centre service. This is worth £495,000 over an initial 12-month period. A trial showed cost and time savings. The share price increased 10.2% to 81p.
FALLERS
Karelian Diamond Resources (LON: KDR) has raised £329,000 at 1.5p/share. This cash will be invested in the nickel-copper-platinum prospecting licences in Northern Ireland. There will also be investment in diamond exploration in the Kuhmo region of Finland. This knocked 33.7% off the share price to 1.625p.
Armadale Capital (LON: ACP) published 2023 accounts on Friday evening, which meant that trading in the shares did not have to be suspended today. However, the share price slumped 31.8% to 0.375p. The developer of the graphite project in Tanzania made a loss of £5.89m, up from £206,000, after an impairment charge of £5.38m.
Sancus Lending (LON: LEND) published 2023 results showing a £4.8m provision against loans made by previous management. The pro forma loan book was £202m at the end of 2023. UK property loans more than halved during the period. Withdrawal from Guernsey and Gibraltar has been completed. Revenues in the first five months of 2024 were £6.3m. The share price is 22.2% lower at 0.175p.
Zanaga Iron Ore Company (LON: ZIOC) says the updated feasibility study of the Zanaga project will enable discussions with entities interested in participating in the project. Shard has asked for a waiver of share trading limitations so that it sell 14.4 million shares at 5.25p each. Glencore has subscribed £236,000 at the same share price and this is being used to pay down the loan from Glencore. The share price slipped 22% to 5.71p.