Medical imaging technology developer IXICO (LON: IXI) says figures for the year to September 2024 will be ahead of expectations. Revenues will be between £5.5m to £5.9m, compared with expectations of £5.2m. Cash levels will improve. A new contract has been won to provide imaging biomarker services for phase 1 / 2 clinical trial for patients with Huntington’s Disease. The share price rebounded 26.3% to 9p.
Waste-to-energy technology developer Eqtec (LON: EQT) says that the sale of a site in Deeside Industrial Park by Logik Developments should happen by 16 August. Once this is completed then Eqtec will be paid £2m under the settlement agreement with Logik Developments. The share price improved 11.5% to 1.45p.
Silver Bullet Data Services (LON: SBDS) has won a contract with one of the world’s largest programmatic self-service advertising buying platforms for its AI contextual marketing product 4D. It has also launched a privacy-first mobile advertising product, 4D Mobile. Zeus has been appointed as joint broker. The share price increased 9.68% to 85p.
GreenRoc Strategic Materials (LON: GROC) reported a £5,000 cash inflow from operations, but that was due to a £413,000 decrease in debtors, and capitalised spending of £160,000 in the six months to May 2024. Since, then further cash has been raised. Further test work is ongoing on ore from the Amitsoq graphite project in Greenland. The share price rose 8% to 1.35p.
FALLERS
Spirits supplier Distil (LON: DIS) has been hit by a 55% decline in revenues to £204,000 in the first four months of the financial year. Full year expectations have been downgraded, but there should be an improvement compared with 2023 revenues of £1.5m. Global alcohol volumes are declining and poor weather in the UK hit sales this year. July was particularly poor and Distil requires further short-term funding. The share price slumped 35.3% to 0.275p.
Global Petroleum (LON: GBP) is setting up a joint venture with Callum Baxter, former chief technical officer of Greatland Gold (LON: GGP), to diversify into mineral exploration in Western Australia. Global Petroleum will pay £200,000 for 70% of the joint venture and Callum Baxter will retain the other 30%, although this can be increased to 80% for an additional £50,000. Global Petroleum will spend a minimum of £750,000 over 12 months and fund 100% of spending until a decision to mine. Global Petroleum is raising £600,000 at 0.065p/share and existing shareholders can participate in a retail offer. This cash will finance the purchase of 80% of the exploration licence. Under a consultancy agreement Callum Baxter will receive 200 million Global Petroleum shares and 10% of the total number of new shares issued in the fundraising. The retail offer to existing shareholders via CMC closes on 16 August. The share price fell 15.6% to 0.0675p.
Ultrasound AI software and simulators developer Intelligent Ultrasound (LON: IUG) restated its interims due to the sale of its Clinical AI business for the equivalent of 12.4p/share. Ongoing revenues fell 18% to £5m as UK and North American sales declined. The continuing operating loss was £1.4m and a review of the business should be completed in October. The share price declined 10.6% to 9.5p.
ECR Minerals (LON: ECR) reports that 56 soil samples from prospects at the Lolworth project in Queensland returned results of at least 0.05ppm gold, including some that were well above that level. The focus is switching to the eastern part of the project area to test for gold, niobium and tantalum mineralisation. The company is fully funded for this year. The share price dipped 5.56% to 0.255p.