MS International (LON: MSI) has won a £22.4m contract to supply new land-based mobile gun systems for air defence. They will be supplied to an overseas customer in 2023. This sparked a 46.8% share price increase to 690p.
Webis Holdings (LON: WEB) pool wagering subsidiary WatchandWager has signed an agreement with Monarch Content Management to accept wagers on all Monarch operated racetracks. This includes Gulfstream Park in Florida. The share price jumped 20.8% to 1.45p.
ECR Minerals (LON: ECR) has identified lithium, tantalum and niobium anomalies is the stream sediment sampling campaign at the 100%-owned Lolworth Range project in Queensland. Further results are awaited. Earlier in the week, a new parallel gold system was identified at the 100%-owned Creswick project in Victoria. The share price rose 8.57% to 0.95p.
Egaming company Gfinity (LON: GFIN) reported a slightly lower underlying loss of £4.1m in the year to June 2022, down from £4.5m, if the gain on disposal is excluded. Revenues fell by 8% but costs were also reduced. There was a £2.57m cash outflow from operating activities. There is £2.14m in the bank. Potential deferred consideration is payable based on 30% of revenues generated by recent acquisitions over specific periods. Yet another fundraising appears likely in 2023. The share price slumped 43.2% to 0.565p. There are unexercised warrants that could generate £2.7m, but they are exercisable at 1.25p.
Online Blockchain (LON: OBC) shares slid by 26.7% to 11p, valuing the company at £1.57m, following full year figures, which show a swing from a small profit to a £1m loss. Revenues remain small at £107,000. Directors’ remuneration totalled £260,000. NAV is £1.9m, including cash of £765,000. The value of the 17.6% stake in ADVFN (LON: AFN) declined from £1.42m to £1.1m.
City of London Group (LON: CIN) shares have fallen a further 25% to 30p after yesterday’s announcement that it is seeking shareholder approval for its winding up and distribution of its stake in new bank Recognise Bank to them on a pro rata basis. A cash injection to Recognise Bank provides a valuation of the stake of 30p/ City of London Group share. Shareholders owning three-quarters of the company support the proposals.
