Online Blockchain (LON: OBC) plans to launch a new non-fungible token project based on The Rocky Horror Show. A deal has been struck with Interfishnet, which holds the rights to the musical. It is 50 years since its first performance. Online Blockchain will receive a share of revenues. The share price jumped 17.1% to 24p.
Caspian Sunrise (LON: CASP) has unexpectedly struck oil above the expected formation at the Deep well 802 on the Deep Yelemes structure. The drilling had reached 3,900 metres and management expected to find oil at 4,300 metres. Flow rates have been between 700 and 900 barrels/day. This could eventually become a significant addition to production. There is already an attractive yield from the monthly dividends paid out of cash flow. The share price improved 14.3% to 5.9p.
Remote site services provider RA International (LON: RAI) has been awarded a contract by the Foreign, Commonwealth and Development Office to provide construction services for the High Commission in Botswana. This is valued at £3.3m. There are also three orders via a joint venture for the US Navy base in Diego Garcia worth $8.2m. The share price rose 13% to 13p.
On Friday evening it was announced that Frasers Group (LON: FRAS) had increased its stake in N Brown (LON: BWNG) from 5.04% to 17.9%. The share price moved up 10.6% to 35.375p.
European Metal Holdings (LON: EMH) has gained EU approval for potential grant funding from the Just Transition Fund of €1.6bn for the 49%-owned Cinovec lithium tin project in the Czech Republic. The maximum grant could be €49m. WH Ireland estimates a fair value of 184p a share. The share price increased by 12% to 42p.
Sustainable biopesticides developer Eden Research (LON: EDEN) says Mevalone has been authorised in Italy for home garden use to control fungal pathogens. This is the first product authorisation for home gardens. In 2022, revenues were 55% higher at £1.7m. The share price rose 10.5% to 5.25p.
Interim revenues at Cloud-based data analytics provider Rosslyn Data Technologies (LON: RDT) dipped slightly to £1.4m. Even so, annualised recurring revenues rose by 11% to £2.5m, suggesting more positive momentum. Most clients have been migrated to the new Rosslyn Platform. A new three-year contract worth £285,000 has been won with a defence sector client. The share price slumped 23.5% to 0.65p.
Fintech Tintra (LON: TNT) has received the $10m subscription at 1178p a share from UAE-based Ares FZE, which will help to finance the business until the end of this year. That is equivalent to 4.24%. Every two shares come with a warrant exercisable at 504p each, although this is dependent on the market capitalisation of the company reaching $500m. Allenby has published its initiation note on Tintra. The subscription price is a massive premium to the market price at the end of last week, but it still fell 11.9% to 185p.
Beximco Pharmaceuticals (LON: BXP) increased interim revenues from £146.7m to £164.4m, but post-tax profit fell from £14.3m to £10.4m due to higher overheads and a reduction in other income. Foreign exchange also had an effect. Cash generation helped to reduce debt. Synovia Pharma continues to be integrated into the Bangladesh-based generic pharma products and ingredients supplier. The shares declined by 7% to 46.5p.
Gold production by Pan African Resources (LON: PAF) was lower than expected in the six months to December 2022. There were 92,000 ounces produced, which was 7% below forecast. Pan African Resources still expects full year production of 195,000-205,000 ounces. Higher capital investment meant that there is net debt of $50m. The share price fell 7.2% to 17.15p.
