Neometals (LON: NMT) says that the new lithium recovery process has led to more than 93% lithium recovery from batteries in the form of lithium fluoride. This should reduce operating costs and capital investment. The proposed offtake agreement with Jiuxing Titanium Minerals for the Barrambie titanium project in Australia was not agreed and other partners are being considered. Cavendish values Neometals at 140p/share. The share price rose 8.57% to 19p.
Shares in Safestyle (LON: SFE) recovered 9.65% to 2.84p, although there is no news concerning the talks with interested parties about a fundraising to provide working capital. It is a tough market for the windows manufacturer, but the directors believe that they will be able to obtain the finance required.
Brandshield Systems (LON: BRSD) shares edged up by 7.95% to 2.85p as director William Currie is buying shares ahead of the proposed cancellation of the AIM quotation. He has taken his stake to 13.3%. Finance director Ravit Freedman is leaving.
Sabien Technology (LON: SNT) is rolling out its M2G cloud-enabled gas boiler energy saving technology in the US. Greffen Systems in Texas will be the first installation partner in the US. There could be additional revenues of £100,000 this year. The share price improved 6.06% to 8.75p.
Bens Creek (LON: BEN) increased coal production to 50,100 tonnes in September, up from 42,691 tonnes the previous month, and it is expected to continue to increase. The first half production more than doubled to 204,998 tonnes. The coal price has recovered, so Bens Creek will be reducing its loss. The share price is 5.45% higher at 14.5p.
FALLERS
Resources projects developer Oracle Power (LON: ORCP) is raising £350,000 at 0.035p/share with one warrant exercisable at 0.07p attached to every two shares. In order to do this, there has to be a capital reorganisation in order to reduce the nominal value of the shares to 0.001p. The cash will be spent on the company’s green hydrogen project, which will have a 400MW capacity. The share price slumped 60.5% to 0.03p.
i(X) Net Zero (LON: IX.) investee company Sustainable Living Innovations Inc, where it holds an investment valued at $770,000, will not reverse into Churchill Capital Corp V. The share price of the sustainable investment company fell 9.3% to 19.5p.
Europa Oil & Gas (LON: EOG) says that the availability of the licence of the Tain discovery in the North Sea could benefit the Serenity oil discovery, where the company holds 25%. The Europa Oil & Gas share price has dipped 7.41% to 1.25p. The operator of Serenity is i3 Energy (LON: I3E) has commenced discussions about the licence and the share price slipped 1.76% to 13.4p.
The latest budget from the Trinidad and Tobago government should ensure than Trinity Exploration and Production (LON: TRIN) will not pay any supplemental petroleum tax in 2024. The threshold price for offshore assets has been raised by 50% to $75/barrel, while the sustainability incentive has been raised from 20% to 25% to encourage investment. There will be a review of the capital expenditure write-off regime. The share price declined 6.47% to 79.5p.
