China-based Hainan Mining is funding the Bougouni lithium project that is wholly owned by Kodal Minerals (LON: KOD). A $100m investment will be made into a joint venture providing Hainan Mining with a 51% stake. The work on the construction of the mine will be overseen by Kodal Minerals. Hainan Mining is also subscribing $17.75m for a 14.8% stake in Kodal Minerals and that money will be spent on other projects. The share price jumped 44.4% to 0.345p.
Zephyr Energy (LON: ZPHR) says it has suspended drilling operations at the State 36-2 LNW-CC well in the Paradox Basin, Utah. The well intersected an apparent major natural fracture network in the reservoir and options are being considered for safe completion. This could be a prolific well and the share price rose 15.7% to 7p.
Digital mental health platform developer Kooth (LON: KOO) says 2022 revenues will be between £19.6m to £20.2m. Net cash is £8.5m. The share price improved 11.8% to 175p.
Hotel Chocolat (LON: HOTC) traded strongly in stores in November and December. That offset the poor summer trading. There are plans to open 50 stores in the next five years. Online was not as good as the year before as it cost more to obtain new customers. The share price increased 9.7% to 203.5p.
Video games company Frontier Developments (LON: FDEV) had already flagged its interim results. The new F1 game have not done as well as hoped, but the back catalogue continues to be a significant income generator. There are no changes to full year forecasts – pre-tax profit of £900,000. The share price moved up by 6.16% to 499.5p.
Scotgold Resources (LON: SGZ) produced 1,805 ounces of gold at the Cononish gold and silver mine in Scotland. Production in the year to June 2023 is expected to be between 11,500 ounces and 13,500 ounces. Once changes in mining are completed production levels should rise next year. Scotgold Resources requires more working capital. Net debt is £12.6m. The share price slipped 15.6% to 46p.
Musical instruments retailer Gear4Music (LON: G4M) grew revenues by 5% in the third quarter despite strikes and weak consumer spending. UK sales were flat, and the growth was in Europe. Gross margins declined. A full year pre-tax profit of £1.1m, down from £5m, is forecast. The share price fell 15.2% to 117.5p.
US-focused hospital admin software provider Craneware (LON: CRW) says interim revenues were 6% ahead. This was not as good as expected. Peel Hunt has trimmed its software growth rate to 7% and lower professional services. Annualised recurring revenues are $166.4m, which excludes contract pharmacy bookings that have not gone live. The share price has declined by 10.2% to 1725p.
A major shareholder in Ashtead Technology (LON: AT.) has taken advantage of the rise in the share price since flotation in November 2021 to sell shares. Buckthorn Partners sold 18.8% of the subsea equipment supplier at 310p each, raising £46.5m. The chief executive and finance director sold 425,000 and 35,000 shares respectively. The flotation price was 162p. The current share price fell 4.41% to 314.5p.
Ex-dividends
Appreciate Group (LON: APP) is paying an interim dividend of 0.8p a share and the share price rose 0.15p to 41.75p.
Catalyst Media Group (LON: CMX) is paying a final dividend of 3.3p a share and the share price is unchanged at 147.5p.
Dewhurst (LON: DWHA/DWHT) is paying a final dividend of 10.25p/ordinary share and A share. The share price is unchanged at 1160p and the A share price unchanged at 575p.
Gooch & Housego (LON: GHH) is paying a final dividend of 7.9p a share and the share price improved by 2p to 564p.
i3 Energy (LON: I3E) is paying a dividend of 0.17p a share and the share price is 0.25p lower at 21.7p.
TPXimpact Holdings (LON: TPX) is paying an interim dividend of 0.3p a share and the share price fell 0.5p to 43.5p.
M Winkworth (LON: WINK) is paying a dividend of 2.9p a share and the share price is unchanged at 167.5p.
