Building and roofing services provider Northern Bear (LON: NTBR) has benefited from relatively mild and dry weather during the winter. There has also been growth in the fire protection business and new contracts won. This means that operating profit for the year to March 2025 will exceed previous forecasts and be in the range of £3.15m-£3.45m. The cost of closing the company’s fit-out business is included in the guidance. The share price increased 9.52% to 57.5p.
Xtract Resources (LON: XTR) says drilling has started at the Silverking copper prospect in Zambia, where Xtract Resources is earning a 70% interest. This will test the depth extension of the main high-grade pipe and establishing its width. It will also evaluate a second pipe structure and another anomaly. A phase 2 exploration programme is commencing at the end of the rainy season at the Western Foreland project in Zambia. The share price is 10% higher at 0.55p.
Helium One Global (LON: HE1) says new samples from the State-16 well at the Galactica project in Colorado, where it has a 50% working interest, show helium concentration of 2.17%, which is higher than previously. The well head pressure was also higher than previously. That indicates long-term flow potential. The share price improved 3% to 1.03p.
Battery technology developer Ilika (LON: IKA) has produced a successful prototype of a 50Ah Goliath electric vehicle battery. This is the minimum viable product for electric vehicles. The Goliath should reduce battery costs and increase range. Production for pilot testing should start later this year. The share price continued its upward trend with a 3.57% to gain to 43.5p.
FALLERS
Petrel Resources (LON: PET) has raised £250,000 at 1.05p/share and each share has a warrant exercisable at 2p/share. This will be used as working capital while new oil and gas projects in Iraq. Petrel Resources may be invited to enter into pre-qualification discussions with the Ministry of Oil. The share price slumped 34.2% to 1.25p.
Trading in Celsius Resources Ltd (LON: CLA) has been halted on the ASX, but trading continues on AIM. This is ahead of a fundraising. The share price declined 14.3% to 0.45p.
Shares in floorcoverings manufacturer Victoria (LON: VCP) fell 13.6% to 80.6p even though yesterday it was announced that Saqib Karim raised his stake from 6.12% to 7%.
Premier African Minerals (LON: PREM) is still seeking funding for the Zulu lithium and tantalum project, including talks with the offtake partner. A direct investment or sale of the project may be required if funds are not raised. Cash is required for operations to resume. At the end of January 2025, the group’s net liabilities were $64.3m, including the offtake prepayment of $46.4m from Canmax Technologies. The share price slipped 11.9% to 0.0185p.
Interim figures from pharma mathematical modelling provider Physiomics (LON: PYC) show a dip in revenues from £374,000 to £329,000, while the pre-tax loss edged up from £235,000 to £249,000. Full year revenues should be in line with expectations. There is a pipeline of new contracts, but they may not be signed in this financial year. The share price dipped 8.6% to 0.425p, which is a new low.
Ex-dividends
Colefax Group (LON: CFX) is paying a dividend of 2.8p/share and the share price fell 2.5p to 872.5p.
Nexus Infrastructure (LON: NEXS) is paying a dividend of 2p/share and the share price is unchanged at 177.5p.