Wellhead equipment supplier Plexus Holdings (LON: POS) reveals that a £5m contract announced in March has been increased in value to £8m. This technology helps to reduce methane emissions. The share price is two-fifths higher at 5.25p.
On Monday afternoon, Galileo Resources (LON: GLR) reported that drilling at the Kamativi licence in Zimbabwe has intersected around 111 metres downhole width of pegmatites with the potential for lithium mineralisation. This is better than expected. The share price rose 15.6% to 1.3p.
RUA Life Sciences (LON: RUA) has reduced its costs by one-fifth and cash is better than anticipated. The development of heart and vascular products is progressing. The contract manufacturing business is working on a customer funded development that could provide significant volumes in the future. The share price is 16.4% ahead at 19.2p.
Cake Box (LON: CBOX) reported like-for-like sales growth of 6.8% in the first 17 weeks of the financial year. That represents an acceleration of growth in recent weeks as marketing is stepped up. There are 212 outlets with scope for more. After paying the final dividend there is £6m in the bank. The share price rose 6.33% to 159.5p, which is 15 times prospective earnings.
Neometals (LON: NMT) says battery recycling joint venture Primobius has received an order for 10 tonne/day of lithium-ion battery recycling spoke with Mercedes. The facility will recover lithium, cobalt, nickel, manganese and other materials and feed them back into production of 50,000 batteries for new Mercedes vehicles. This is important because it will help the joint venture to gain credibility and win more business. The share price improved 5.77% to 27.5p.
FALLERS
Waste to energy technology company Powerhouse Energy (LON: PHE) is raising £1m at 0.5p/share. The share price dived 17.2% to 0.625p. This will be spent on the building of the technology centre in Bridgend. Broker Turner Pope is receiving 8 million shares as payment for expenses.
Marechale Capital (LON: MAC) fell back into loss in the year to April 2023. That is because there was a £2.72m gain on investments in the previous year. The corporate finance adviser has exited its Future Biogas investment and another investment, Burgh Island, is for sale. Corporate finance revenues were also lower. Net cash was £250,000 and £236,000 was subsequently raised at 2.25p/share. The share price has fallen 7.69% to 1.8p.
Great Western Mining (LON: GWMO) has made progress setting up a mill at Sodaville, in the Mineral County licence area in Nevada, but regulatory approval is likely to be delayed for two months. The project is within budget. The share price slipped 5% to 0.0475p.
In-content advertising company Mirriad Advertising (LON: MIRI) reported a £7m cash outflow from activities in the first half, including cash costs of closing the China operations. That is more than the cash raised during the period. There was £9.79m in the bank at the end of June 2023. Management says this will last until August 2024 following cost cutting. Interim revenues edged up to £592,000. The share price is 3.7% lower at 1.3p.
