Data and marketing services provider Jaywing (LON: JWNG) reduced its full year loss from £12.5m to £2.4m. Revenues were reduced by 3% to £21.5m with an adverse effect from the A$/£ exchange rate. The full benefits of cost reductions will show through this year. The share price increased 22.2% to 2.75p.
Primorus Investment (LON: PRIM) is subscribing 18.1 million shares in Pri0r1ty AI for £300,460 to help fund a software roll out. Standard list shell Alteration Earth (LON: ALTE) has non-binding heads of terms to acquire Pri0r1ty AI and move to AIM. Primorus Investment directors Rupert Labrum and Matthew Beardmore own 45.8% of Alteration Earth. The Primorus Investments share price improved 11.5% to 3.4p.
Eco (Atlantic) Oil & Gas (LON: ECO) had cash of $1.19m at the end of June 2024. Following the completion of the farm-out agreement for Block 3B/4B in South Africa, the company will receive $8.3m. It has also sold a further 1% interest in the block, leaving it with 5.25%, to Africa Oil in return for the Eco shares and warrants its owns, which is equivalent to 15% of the company. The share price is 8% ahead at 13.5p.
Alba Mineral Resources (LON: ALBA) has completed the first underground blast on No. 4.5 level in the Llechfraith section of the Clogau St David’s mine in Wales. There will be further blasts on level 5. The share price rose 5.88% to 0.045p.
Antenna technology developer Filtronic (LON: FTC) is trading ahead of expectations and has secured a follow-up order from SpaceX for E-band solid-state power amplifier modules for Starlink satellites. The new order is worth £6.4m and SpaceX has been issued 10.9 million warrants. Cavendish has raised its 2024-25 pre-tax profit forecast from £6.4m to £7.7m. The share price is 5.26% higher at 80p.
FALLERS
Indus Gas Ltd (LON: INDI) says the extension of the PSC for Block RJ-ON/6 for a period of ten years is under consideration. The current period ended on 20 August. The maintenance of the customer’s power plant continues so there is a reduced offtake of gas. The share price slumped 18.5% to 10.025p.
Fire safety products developer Zenova Group (LON: ZED) revenues dipped from £108,000 to £51,000, although the loss was reduced from £709,000 to £617,000. Product certifications were delayed and that reduced income. The certifications have been received and this will boost second half revenues. The share price dipped 6.52% to 1.075p.
Mkango Resources (LON: MKA) increased its interim loss from $1.6m to $1.7m and there are plans to reduce operating costs by 36%. Net debt was $3.4m, including deferred consideration, although $1.25m is being raised following the balance sheet date. The share price fell 3.1% to 6.25p.
Andrada Mining (LON: ATM) generated revenues of £18m for the year to February 2024. Tin concentrate produced rose 54% to 1,500 tonnes, while all in sustaining costs increased from $24,939/tonne to $26,223/tonne. There is £10m in the bank. The share price slipped 1.45% to 3.4p.