Oxford BioDynamics (LON: OBD) says the PSE prostate cancer test has completed validation in US CLIA laboratories earlier than expected. The test is available in the US and the UK, which will initially send the test to be processed in the US while accreditation is obtained in the UK. This adds to the company’s range of tests. The share price jumped 87.8% to 19.625p.
PCI-Pal (LON: PCIP) has defeated the UK patent infringement suit brought by Sycurio. The UK High Court ruled that Sycrio’s patent was invalid and PCI-Pal’s Agent Assist product would not infringe the patent if it were valid. The US case is continuing. This will help to reassure investors who have been cautious about the secure payments company because of the legal uncertainty. The company is on course to move into profit in the year to June 2024. The share price improved 19.4% to 58.5p.
eEnergy Group (LON: EAAS) has won a £3m contract to supply onsite solar energy generation to Tudor Grange Academies Trust, which has already been a client for other energy efficiency services. This is a 10-year agreement. There will be £1.9m recognised in 2023 and 2024. The share price recovered 10.6% to 5.75p.
A positive AGM trading statement from Supreme (LON: SUP) has pushed up the share price of the consumer products supplier by 8.59% to 107.5p. The figures for the year to March 2024 are set to be significantly ahead of expectations. EBITDA guidance is raised by £3.5m to £28m-£30m. The cash position should also be stronger.
FALLERS
Cameroon-focused oil and gas company Bowleven (LON: BLVN) is still awaiting completion of the sale of a 37.5% interest in the Etinde project by New Age. Regulatory approval is required, and it is uncertain if the deal will go ahead and this means greater uncertainty for Bowleven, which has an interest in the project. Bowleven has $1.25m in cash and will need to raise more by the first quarter of 2024. The share price slid 52.8% to 0.85p, because of concerns about a heavily dilutive fundraising.
Anglo Asian Mining (LON: AAZ) interim revenues dipped by 2% to $30.8m due to lower production and gold sales. Gedabek flotation and agitation leaching operations remain suspended. Production costs rose by nearly one-fifth to $1,357/ounce, although the gold price realised was still higher than that. There was cash of $9.6m at the end of June 2023. Production guidance for the full year to 22,000-23,000 ounces of gold and 2,100-2,200 tonnes of copper. There is no interim dividend. The share slumped 42.6% to 37p – the lowest level since 2018.
Video games developer tinyBuild (LON: TBLD) reported a 19% decline in interim revenues to $23.3m and a move into loss. There was a $27.2m impairment charge. Revenues more than halved in the development services division. New games are being developed, but costs are being controlled. Game launches should help second half revenues. The share price dived 35.8% to 37p.
Block Energy (LON: BLOE) says total group production is 684 barrels of oil equivalent/day, including 150 barrels of oil equivalent/day from the WR-34Z development well on the West Rustavi/ Krtsanisi field. The production level from the new well is disappointing. There are plans to drill another development well. The share price dropped 18.3% to 1.225p.
