Horizonte Minerals (LON: HZM) has secured a $20m interim funding package provided by major shareholders Orion, Gencore and La Mancha. Interest payments are being deferred by existing senior lenders. Management is reviewing the long-term project funding requirements for the Arafuaia nickel project. Full funding is targeted for the middle of 2024. The share price recovered 30.6% to 10.25p.
WH Ireland (LON: WHI) is seeing signs of improvement with underlying monthly profitability achieved in November 2023 thanks to cost cutting and there was cash of £6.8m. Annualised cost savings of £3.8m have been made. The underlying interim loss doubled to £1.8m with revenues dropping from £14.3m to £10.7m. The share price increased 7.14% to 3.75p.
Cellular agriculture investor Agronomics (LON: ANIC) increased its NAV from 14.85p/share to 16.94p/share in the 12 months to June 2023. Unrealised net gains were £29.7m. There was £28.1m in the bank at the end of June 2023. The share price improved 3.21% to 9.65p.
FALLERS
Tern (LON: TERN) investee company Device Authority has secured $7.3m in funding, with $4m to be raised by the end of 2023. The rest requires regulatory approvals. There will also be $2.1m loan notes converted into shares at the issue price. Tern had a 53.8% shareholding in the identity management technology developer and will convert $1m of loan notes. Device Authority will repay the $175,000 loan from Tern, which will have a diluted stake of 29.5% after the full fundraising. That is valued at £5.9m. The Tern share price dipped 23.5% to 3.25p.
Mobile games and content supplier Mobile Streams (LON: MOS) improved its full year revenues from £1.02m to £1.82m, but the loss increased from £2.51m to £3.79m. Even so, management calculates that it has enough working capital for its current requirements. The share price fell 14.8% to 0.0575p to a new low.
Alien Metals (LON: UFO) chief executive Troy Whittaker is leaving at the end of 2023 and a new management team should be appointed in the near future. Troy Whittaker has been acting as chief executive for one year but was not appointed to the board until August. The company will continue to accelerate exploration at the Hancock iron ore project and the Pinderi Hills base metals project. The share price declined 14.3% to 0.18p. Quantum Blockchain Technologies (LON: QBT) says that chief executive Professor Francesco Gardin has amended the repurchase price and repurchase date of his agreement with MC Strategies. The five million shares can be repurchased by the end of March 2024 at 3.3578p/share, up from 3.3172p/share. Professor Gardin already owns 29.3 million shares. The share price is 6.35% to 1.475p.