Minoan Group (LON: MIN) shares recovered following the slump on Friday after it said that it does not have enough cash to complete the audit of its accounts to October 2024 and that would mean trading in the shares would be suspended on 1 May. The suspension could happen earlier because of the lack of cash. Minoan has not been able to extend the secured loan, totalling £1.19m, provided by DAGG. A proposal from DAG includes the conversion of the loan into shares and an additional £4.44m cash injection in return for shares. The share price doubled to 0.25p, but it is still 23% lower over the past week.
Thor Explorations (LON: THX) has announced a maiden dividend alongside its 2024 results. Higher gold production and lower production costs at the Segilola gold mine in Nigeria enabled net profit to jump from $10.8m to $91.1m on revenues up from $141.2m to $193.1m. There is no debt and net cash of $11.2m. Costs are expected to rise this year and production should be at least maintained. Dividends will be paid quarterly, and the first dividend is C$0.0125p/share – this will be the minimum quarterly level. The shares go ex-dividend on 1 May. The dividend policy will be reviewed in two years. The share price increased 15.9% to 25.5p, which is just off its recent all time high.
An update from Zephyr Energy (LON: ZPHR) on the State 36-2 LNW-CC-R well indicates that it has a good connection to the highly pressured Cane Creek reservoir. Production testing will start shortly, and initial results should be available by the end of April. The share price improved 12.5% to 3.6p.
A strong gold price has benefited pawnbroker Ramsdens Holdings (LON: RFX) in the first half and led to an upgrade in forecasts. Retail jewellery sales were also strong and the outlook for pawnbroking is positive. Panmure Liberum has raised its 2024-25 pre-tax profit forecast from £12m to £13.1m. There was a small downgrade for the foreign exchange division, and this is not expected to show growth next year. The share price strengthened 9.76% to 225p.
FALLERS
Belluscura (LON: BELL) has withdrawn guidance for 2025 because of the uncertainty due to increased tariffs on imports to the US. The company’s portable oxygen concentrators are predominantly made in China, and the tariff will increase from 20% to 54%. Belluscura had been moving towards profitability. That is less likely to happen and could put pressure on the cash position. Earlier in the year, £4.7m was raised at 2p/share. The share price halved to 0.625p.
The latest assets under management figure from Impax Asset Management (LON: IPX) shows the loss of the major St James’s Place mandate, but there is also a £1bn decline from negative performance. By the end of March 2025, assets under management had fallen by one-quarter to £25.3bn. Impax Asset Management says that figures for the year to September 2025 will be below expectations because of the poor performance, particularly in recent days after US tariff announcements. The share price dropped 15.7% to 127.1p.
Eco Buildings Group (LON: ECOB) has produced 450 modular wall panels and they will be delivered to an existing customer with payment expected in the current quarter. The full order is worth £4m. The rate of production is better than expected and is based on a single shift. The share price fell 9.64% to 3.75p.
SkinBioTherapeutics (LON: SBTX) shares dipped 4% to 24p after OptiBiotix Health (LON: OPTI) reduced its shareholding from 9.58% to 8.46%. OptiBiotix shares are 3.59% lower at 14.75p.