Kropz (LON: KRPZ) produced 87,496 tonnes of phosphate concentrate n the third quarter and sales were 28% higher at 72,408 tonnes. September was a record production month, and the mine is still in its trial production phase. The share price rebounded 27.5% to 0.65p, but it has still halved since the beginning of the year.
Trellus Health (LON: TRLS), which has developed digital technology to manage chronic conditions, has secured a $600,000 loan from 25% shareholder Icahn School of Medicine at Mount Sinai. There is no interest charge for nine months and then the annual rate is 8%. The loan is convertible into shares, but the stake cannot go above 29.9%. This will provide enough cash until late January when more cash will be required. The share price increased 23.8% to 0.65p.
Polarean Imaging (LON: POLX) has entered an exclusive distribution agreement for the Xenon MRI platform with DK Healthcare in South Korea. Polarean Imaging plans to leave AIM later this year. The share price recovered 11.8% to 0.095p.
MTI Wireless Edge (LON: MWE) reported record third quarter revenues and nine month revenues were 12% ahead at $37.8m. Operating profit was 21% higher at $4.2m. Net cash improved to $6.4m. Antenna revenues were one-fifth higher due to increasing defence demand. That offset weaker 5G demand in India. The water irrigation technology and electronics division also grew in the third quarters. The fourth quarter has stated strongly. The share price rose 9.41% to 46.5p.
GlobalData (LON: DATA) is launching a £10m share buyback and there will be further news on the timing of the move to the Main Market in January. The share price improved 9.72% to 109.5p.
FALLERS
Telematics supplier Microlise Group (LON: SAAS) says lower OEM volumes due to tariffs and the weak economy. There have also been delays in projects. There are plans to cut annualised costs by £4m. That is too late for 2025 when forecast revenues have been cut from £91.3m to £84m, while earnings have been slashed from 5.5p/share to 3.1p/share. The 2026 earnings forecast has been cut to 4.9p/share. Customer churn remains low. The share price slumped 30.1% to 97.5p.
Immupharma (LON: IMM) continues to talk with potential partners for the P140 autoimmune platform and a deal will not be secured until 2026. There is enough cash until the fourth quarter of 2026, so there is no need for a fundraising. Deals with commercial partners should provide additional finance. The share price declined 27.4% to 7.09p.
Oil and gas producer Prospex Energy (LON: PXEN) has generated revenues of £4.2m so far this year, despite the downtime at Viura and El Romeral and lower gas prices. Viura is back in production in the fourth quarter. This will enable much larger revenues in the period and generate cash for investment. The share price slipped 12.8% to 3.4p.
M&C Saatchi (LON: SAA) was hit by the US government shutdown and this has led to a downgrade of expectations for 2025. The media business has done better than expected. Group revenues have been reduced by 1% to £210m, while pre-tax profit is cut by 19% to £22.4m. There is an even greater reduction from £34m to £24.7m for 2026. Net cash of £18.5m is forecast for the end of 2025. A £5m share buyback has been launched. The share price fell 8.73% to 115p.