Emmerson (LON: EML) is hopeful that it will receive the environmental permit for the Khemisset potash project in Morocco before the end of the year. There will also be the release of lab results from the second round of crop trials that examine the effectiveness of the potash providing phosphate to lettuces. Emmerson currently has $1.7m in cash. This should last well into 2025. The share price recovered 16% to 1.45p.
Deltic Energy (LON: DELT) is rising ahead of completion of the second farm-out of the Selene prospect, where Deltic Energy will retain a 25% interest. There was £3.7m in the bank at the end of June 2024. The share price had been hit by the withdrawal from the Pensacola discovery and the uncertainty concerning the North Sea oil and gas tax regime. Richard Sneller reduced his stake from 9.9% to below 3%. The share price improved 15.7% to 5.35p.
Invinity Energy Systems (LON: IES) joint venture development partner Gamesa Electric has ordered a 1.2MWh Mistral battery for a solar and wind generating site in Spain. This was announced at the same time as the interims, which were already well flagged. Interim revenues were £1.6m and the cash outflow from activities was £12.4m. The share price rebounded 10.3% to 9.65p.
Mobile payments services provider Mobility One (LON: MBO) reported a 9% fall in interim revenues to £110.5m and it fell into loss. There was £4.41m in the bank at the end of June 2024. Management is cautious about the second half because of inflation and higher admin expenses. The completion of the proposed joint venture with Super Apps should enhance the company’s financial position. The share price improved 10.9% to 3.05p.
FALLERS
Hummingbird Resources (LON: HUM) has launched an operational and strategic review and Dan Betts is moving from chief executive to chairman of the gold producer. A new boss is being sought. Lower than expected mining volumes mean that Kouroussa will take until the end of the year to reach commercial production. A $30m prepayment gold loan has been agreed with CIG. Gold will be delivered to CIG each month. The share price slipped 21.8% to 6.65p.
Cancer treatments developer ValiRx (LON: VAL) reported an £890,000 cash outflow from operations in the first half of 2024. There was cash of £792,000 at the end of June 2024. The share price dipped 14.7% to 1.45p.
Gold explorer Panthera Resources (LON: PAT) continues to seek a resolution over permitting of the Bhukia gold project in India. It is claiming damages against the Government of India. There was a £1.9m cash outflow from operations in the year to March 2024. There was £281,000 in cash at the end of March 2024. The share price fell 11.5% to 5.75p.
Alien Metals (LON: UFO) is progressing the Hancock and Pinderi Hills projects and it is seeking “to optimise a funding strategy to extract maximum value for its shareholders”. There was a cash outflow from operations and explorations of £1.14m in the first half of 2024. The share price declined 12.8% to 0.1025p.