Light Science Technologies (LON: LST) was cash generative last year and the loss reduced from £1.14m to £30,000, following a strong second half. Revenues increased from £9.3m to £12m with an initial contribution from the fire protection business. The contract electronics manufacturing business grew, but the fastest growth was in agricultural technology. This is still a small percentage of revenues, but this will be a significant market when technology is adopted, and cross-selling opportunities are realised. The potential pipeline of business is worth £42m. The share price continued its recovery adding 21.2% to 3.15p.
Chariot (LON: CHAR) owns 49% of Etana Energy, the South African electricity trading platform, which has secured up to $75m in guarantee financing and equity from Standard Bank and Norfund. This enables the financial close of the 75MW Du Plessis Dam solar energy project. A 20-year power supply agreement has been signed for the project. The equity funding in Etana Energy, values Chariot’s stake at 2.1p/share. The share price is 14.3% higher at 1.6p.
OptiBiotix Health (LON: OPTI) says 2024 orders were 56% higher at £1m. A stock overhang has been cleared and margins and sales of weight management product Slimbiome should increase this year. The order book for the first quarter of 2025 is higher than for the first half of 2024. There is £754,000 in cash in the balance sheet at the end of 2024 and since then £257,000 has been raised from selling shares in SkinBioTherapeutics (LON: SBTX). The OptiBiotix Health share price improved 10.1% to 19p.
Greatland Gold (LON: GGP) has updated the mineral resource estimate for Telfer prospect in Australia. The measured and indicated estimate is 65Mt at 0.69g/t for 1.4m ounces of gold – a 55% increase. A reserve statement is planned by June. The share price increased 8.79% to 10.4p.
Seascape Energy Asia (LON: SEA) has completed the farm-out of a 42.5% participating interest in Block 2A, offshore Malaysia, to Inpex. The deal is worth $38m, including $10m in cash and $1m in reimbursed costs. Seascape Energy Asia will receive a fully uncapped carry of 10% through the exploration phase. The share price rose 7.25% to 37p.
FALLERS
Ethernity Network (LON: ENET) is holding a general meeting to enable it to issue more shares. Last week £88,750 was raised at 0.05p/share and more cash will be required to pay creditors. The share price slumped 35.3% to 0.0275p.
Oil and gas company ADM Energy (ADME) has received an additional £274,000 at 0.1p/share via broker option. That is slightly higher than the £250,000 sought. The share price slipped by one-fifth to 0.2p.
Biome Technologies (LON: BIOM) shares fell a further 14.3% to 0.75p ahead of the AIM cancellation on 21 March. JP Jenkins will then provide a matched bargain facility.
Shore has updated its forecasts for payment services provider Finseta (LON: FIN) and added costs for the new operation in Dubai and Canada. The costs will be £2.1m higher this year. Initial revenues will not be enough to offset the higher cost base in the short-term. The 2025 pre-tax profit forecast has been cut from £2.5m to £900,000, while next year the figure has been reduced from £4m to £3.4m. The company will remain in a net cash position. The investment should enhance earnings from 2027 onwards. The share price dipped 8.57% to 32p.