Magnetic resource imaging technology developer Polarean Imaging (LON: POLX) shares continue to rise on the back of yesterday’s news that it has received its first de novo order for a new XENOVIEW polariser for a US academic centre. Other medical centres are interested in acquiring the technology. Cash is expected to last until the third quarter of 2024. The share price improved a further 17.7% to 7.65p.
Powerhouse Energy (LON: PHE) has appointed Ben Scott Brier as its permanent finance director. He had been acting finance director since August 2022. The share price is 10% higher at 0.275p.
eEnergy Group (LON: EAAS) has signed a deal with Utility Data Intelligence, which will supply bureau services for an annual cost of £240,000. This broadens an existing relationship. Non-exec director Gary Worby is a 24% shareholder in Utility Data Intelligence, but that did not stop the share price rising 9.62% to 5.7p.
Crystal Amber Fund (LON: CRS) is launching a share buy back of up to £5m that will last until the end of January. The share price improved 5.65% to 65.5p. NAV was 98.3p/share at the end of October, although share prices of its quoted investments will have changed since then. There was £12.25m in the bank at the end of June 2023, which was after paying a 25p/share dividend in the same month.
FALLERS
Landore Resources (LON: LND) has postponed plans for a listing in Toronto, which would have raised nearly £3m in cash for working capital. Management is reducing costs, and it will try to raise money in the first quarter of 2024, as well as seeking other ways to fund the BAM gold project. The share price is off its low, but still 38% lower at 3.625p.
Sales have not increased as rapidly as hoped for The Artisanal Spirits Company (LON: ART) and they are expected to be around £23m this year, compared with the previous forecast of £25.2m. The forecast 2023 loss has been raised from £1.7m to £2.7m. A pre-tax profit is no longer expected in 2025. There is potential to improve margins and the value of the whisky cask stocks underpins most of the current market capitalisation, although net debt of £20.4m is forecast for the year end. The share price has recovered from its low for the day, but it is still down 16.5% to 48p.
Myanmar Investments (LON: MIL) shares continue to fall after it gained shareholder approval to cancel trading on AIM on 12 February. In 2019, the company took the decision to wind down its investment portfolio due to unfavourable conditions in Myanmar. Leaving AIM will save $115,000/year. The share price fell 11.8% to 3.175 cents. NAV was 23 cents/share at the end of March 2023.
Professional services provider Christie Group (LON: CTG) has been hit by delays completing transactions. The second half should still be better than the first. The forecast loss for 2023 has been increased to £1.5m, although there should be a return to profit next year. The share price has fallen 5.26% to 90p.
