Panthera Resources (LON: PAT) has secured litigation funding to pursue a claim in India under the Australia India Bilateral Investment Treaty. LCM Funding SG will provide $13.6m of funding for a claim relating to a rejected prospecting licence. The share price is 23.1% higher at 8p.
Cybersecurity firm Shearwater Group (LON: SWG) has delayed publication of its full year results due to audit delays. They are set to be published on 5 September. On a brighter note, delayed contracts have been received in the first quarter of the new financial year. Market conditions are becoming more favourable. The share price recovered 16.7% to 45.5p.
Corcel (LON: CRCL) says exploration work has commenced on block KON-11 in Angola. Corcel has a 20% working interest in the block. There is one initial well and then decisions on further wells will be made. The share price is 6.38% ahead at 0.25p.
Falcon Oil & Gas (LON: FOG) says that the 2014 farm-in commitments in the Beetaloo Sub-Basin in Australia have been met. The gross carry commitment was $264m. There is an additional carry of gross well costs of up to A$6.75m net. Falcon Oil & Gas can choose to participate in further wells up to its 22.5% equity interest. There is $15.3m in the bank. The share price increased 3.85% to 6.75p.
Proteome Sciences (LON: PRM) is the biggest faller on the day, slumping 29.4% to 6p. Revenues were flat, and costs increased. This meant that the drug development services company fell into loss. New initiatives should help to grow revenues.
Fulcrum Utility Services (LON: FCRM) is continuing its share price decline, down 13.5% to 0.225p on the day, following Monday’s announcement that it intends to leave AIM. The cancellation proposal followed the release of full year figures showing an increased loss. The utility infrastructure business reported a £25.7m loss on a 18% decrease in revenues to £50.6m.
Lendinvest (LON: LINV) has been hit by a customer and applicant personal data breach and this is being investigated. The data was held in a project test environment and not it’s the main system. The share price declined 5.38% to 44p.
WH Ireland released an analyst note on the Southern Energy (LON: SOUC) second quarter results. This was the weakest quarter for the gas price since Covid started, but the gas price has recovered since then. Management is considering four drilled but uncompleted wells in the Gwinville field. The share price fell 3.66% to 19.75p.
Yesterday, compliance and maintenance services provider Kinovo (LON: KINO) revealed a non-binding bid approach from Rx3 Holdings, which the bid target said was at 56p/share. Management says that the offer is at the lower end of board expectations. Rx3 has confirmed that the offer price will be at least 40p/share, because 29.9% shareholder Tipacs2 Ltd recently bought shares at that price from Western Selection (LON: WESP). The Konovo share price has dipped 1.96% to 50p.
