Controlled agricultural environment equipment supplier Light Science Technologies (LON: LST) has progressed with its project with Zenith Nurseries. The cloche lighting system has been developed and proved to be viable and this has generated £51,000 of revenues for the company. A later phase of the project has been brought forward and this has potential revenues of £1.9m. The total contract is worth £13.8m. The related grant has increased to £621,000. The share price recovered 12.5% to 6.75p, but it remains below the October 2021 flotation price of 10p.
Utility services installer Fulcrum Utility Services (LON: FCRM) is the largest riser on the day, up 16.7% to 7.35p, but there are no announcements. Previous share price jumps have been due to buying by the Bayford Group, which has a 29.1% stake. Bayford cannot buy many more shares without going above 30% and triggering a mandatory bid.
John Celaschi has increased his stake in solar technology company Verditek (LON: VDTK) from 8.34% to 10.59%. The share price has risen by 10.5% to 2.1p.
Yesterday’s new admission Aurrigo International (LON: AURR) has risen a further 9.52% to 57.5p. The transport technology products supplier raised £8m at 48p a share when it joined AIM. The cash will be invested in the aviation technology division and to develop new products.
Oriole Resources (LON: ORR) shares have lost some of yesterday’s gains. The share price has fallen 8.3% to 0.22p, but it is well above the 0.155p it was two days ago. Phase 4 drilling results from the 90%-owned Bibeme gold project in Cameroon showed the existence of multiple grade-bearing sub-horizontal veins as well as the previously tested sub-vertical veins.
AfriTin Mining (LON: ATM) has completed a placing and subscription at 5p a share that was announced last night. The share price has fallen 6.4% to 5.1p. The amount raised of $22.8m was higher than initially anticipated. This is part of a funding package for phase 2 expansion at the Uis mine in Namibia. Orion Resource Partners is providing $25m through a royalty deal, convertible loans and shares. The Development Bank of Namibia is proposing a $5.8m lending facility. The cash will help to develop lithium and tantalum opportunities at the mine.
Shares in Empyrean Energy (LON: EME) fell 4.77% to 1.0475p after the oil and gas company reported a higher full year loss. The £8.1m loss included a cyber fraud loss of £1.98m and an impairment of exploration asset of £4.13m.
