Orusur Mining Inc (LON: OMI) has signed a share purchase agreement to acquire the rest of the shares in the Anza gold project in Colombia. This deal is subject to regulatory approval. The consideration is based on commercial production. It is NSR royalties of 1.5% and fixed royalties of $75/ounce for the first 20,000 gold equivalent ounces. The share price jumped 49.1% to 3.95p.
Podcast platform operator Audioboom (LON: BOOM) increased year-on-year revenues by 35% to $6m in August. This is mainly down to the new Showcase offering for larger brands. There are no changes to full year forecasts of a move from loss to a pre-tax profit of £900,000. The share price rose 13.4% to 232.5p.
CyanConnode (LON: CYAN) raised £5.4m at 9p/share – a premium to the market price – following receipt of a letter of intent for the purchase of 6.5 million Omnimesh modules for smart meters. This underpins the £34.5m of revenues forecast for the year to March 2025. That would be enough to move the company into profit and earnings of 0.5p/share. The share price improved 5.29% to 8.95p, having been as high as 9.5p earlier in the day.
Gamma Communications (LON: GAMA) grew revenues 10% to £282.5m, although European revenues were flat. This puts it on course to improve full year pre-tax profit from £97.9m to £111.6m. The board is considering a move to the Main Market. The share price increased 7.86% to 1620p.
FALLERS
Trading recommenced in the shares of south east Asia-focused energy company Coro Energy (LON: CORO) following publication of 2023 accounts. The loss was reduced from $8.2m to $5m, partly due to a gain on disposals of $1.3m. The share price slumped 43.6% to 0.0775p.
Semiconductor wafers manufacturer IQE (LON: IQE) reduced its loss on a 27% increase in revenues to £66m thanks to a recovery in wireless demand. The adjusted operating loss is still £7.2m. Net debt is £17m. Growth in revenues is expected to be slower in the second half and the outcome is likely to be at the lower end of expectations. The bottom of the range is £130m and the consensus was £139m, which would result in a £17m loss. The share price slipped 15.2% to 20.1p.
Woodbois (LON: WBI) is benefiting from the restructuring of its operations. The timber company has improved cash flow through negotiating new payment terms with customers. Acquisitions are being considered. Woodbois believes that Robert Skyrme has an undisclosed 5.26% shareholding. The share price fell 9.62% to 0.47p.
Cross-border currency payments services provider Finseta (LON: FIN) reported a sharp increase in first half profit, although investment in growing the business will hold back profit in the short-term. There was a £100,000 contribution from the final payment relating to the licencing agreement with Avila House. The loss of that income, a higher depreciation charge and additional overheads for new operations such as a corporate Mastercard and a Canadian office means that full year pre-tax profit could dip from £1.4m to £1.3m. The benefits of the investment will be seen next year with an expected jump in pre-tax profit to £2.5m. The share price is 8.33% lower at 38.5p.