GreenRoc Strategic Materials (LON: GROC) reported figures for the year to November 2024 and the cash outflow from operating activities fell from £1.61m to £511,000. There was £94,000 in the bank at the end of November 2024. Since then, £735,000 has been raised at 1.3p/share and shares were issued to pay £15,500 to creditors. Tests are being undertaken at the Amitsoq graphite project so that purification can be optimised. The focus is securing permits for Amitsoq and securing strategic partners for projects. The share price recovered 76.5% to 3p. Alba Mineral Resources (LON: ALBA) owns 37.5% of GreenRoc Strategic Materials and the share price is 50.5% higher at 0.0286p.
Vast Resources (LON: VAST) says the historical diamond parcel has been released by the Reserve Bank of Zimbabwe, which held it for 15 years. The contents of the parcel exceeded expectations, and the sales process should start in one month. Vast Resources is in talks with third parties about an investment in the Baita Plai polymetallic mine. The diamond sale proceeds will help to pay off debt. The share price increased 69.2% to 0.44p.
Kevin Allenby has taken a 6.21% stake in financial adviser Team (LON: TEAM). The share price rose 58.3% to 28.5p.
FALLERS
Enteq Technologies (LON: NTQ) says that there is no likelihood of a bid for the company, and it has ended its formal sales process. Management will still talk to potential buyers for parts of the business. Spending is being reduced, and the energy services equipment supplier is seeking additional finance. There is $602,000 in the bank and that will last until mid-May. SABER equipment has been prepared for further testing. The share price slumped 70.6% to 0.5p.
Software training services provider Northcoders (LON: CODE) returned to profit in 2024 but it has revealed that the 18-month Department for Education contract, worth £10m, will not be renewed. There will be a move to a regional model. Management is ready for this and believes it will win business. A pre-tax profit of £700,000 is forecast for 2025. Management believes this can be achieved even with the loss of the overall training contract. Even so, the share price dived 47.5% to 62p.
IP and translation services provider RWS (LON: RWS) says changes to the mix of work have hit profit. Interim pre-tax profit is expected to slump from £46m to £17m. Net debt was £27m at the end of March 2025. Pre-tax profit guidance for 2024-25 is £60m-£70m. Consensus pre-tax profit had been £97.4m. There was 1% organic constant currency growth in interim revenues, although reported revenues will be slightly lower at £344m, and there should be growth in the full year. Three of the four divisions should grow this year. Regulated industries revenues fell because of delays to life sciences client work and that hit profit margins. The transfer of clients to automated models is adding short-term costs. New chief executive Benjamin Faes has bought one million shares at 67.9p each. Interim results will be published on 17 June. The share price is 41.6% lower at 66p.
A trading statement from cloud-based services provider Iomart (LON: IOM) showed that last year was tough and 2025-26 is likely to be tougher with margins declining. The indicated 2024-25 pre-tax profit of £6.5m is within the range of previous expectations, but net debt was higher than previously forecast at £83.7m at the end of March 2025. The bright spot was the Atech acquisition that did better than forecast. The finals in June should provide some indications of the approach of management to improve performance. The share price fell 28.2% to 22.7p.