Pathfinder Minerals (LON: PFP) has received notice of the exercising by Acumen Advisory of the option to acquire its subsidiary IM Minerals and the rights to a claim against the Mozambique government. A binding agreement is required by 23 February. This will inject £2m in cash into Pathfinder Minerals and there could be more from a successful legal claim. The £500,000 placing at 0.5p a share has been completed. The share price jumped 35.3% to 0.575p.
Made Tech Group (LON: MTEC) announced positive trading and the share price moved up by 18.7% to 31.75p. This in contrast to TPXimpact, which also provides digital services to the public and private sector. First half revenues are 76% higher at £20.6m, meaning that it is well on the way to forecast full year revenues of £43m. Three recent major contract wins totalled £27m over two to four years. Margins have been low, but contractors are being used less and this will improve the margin. There is still a long way to go to get back to the September 2021 flotation price of 122p.
Crimson Tide (LON: TIDE) has secured the first US subscription contract for its mpro5 smart mobile working as a service product. The contract is worth more than £250,000 over three years. The mpro5 will be used as the front end for IoT sensors in the California offices of a global networking supplier. This could then be rolled out to other offices. The share price increased by 16.3% to 32p.
PetroTal Corp (LON: PTAL) has increased its 2P reserves by 24% to 96.7 million barrels. On the onshore Peru Bretana oil field. This comes from increased oil in place and higher an increased recovery factor. The NPV10 is estimated as $1.5bn. The share price rose 13.3% to 47p.
Kodal Minerals (LON: KOD) has received the $7m deposit from its funding package for the Bougani lithium project in Mali. This is being provided by Hainan Mining. The full funding is subject to Chinese regulatory approvals. Suay Chin decided not to take up the pre-emption rights that would be triggered by the subscription agreement that is part of the funding package. Results from drilling are pending. The share price is 14% ahead at 0.4475p.
Cybersecurity services provider ECSC (LON: ECSC) has won three significant contract wins. The managed detection and response division will provide services over three years for a total value of more than £690,000. The share price rose 13% to 26p.
Orcadian Energy (LON: ORCA) raised £500,000 at 10p a share to fund the progress towards a field development plan for the Pilot licence area in the North Sea. A farm-out process is underway. Upside resource potential for Pilot is 131MMbbl. Pro forma cash is £723,000. The share price fell 29.2% to 10.625p.
Digital transformation services provider TPXimpact (LON: TPX) continues to decline after yesterday’s reduction in full year guidance. It has slumped a further 25.5% to 19p, having started the week at 46p.
Synergia Energy Ltd (LON: SYN) says production at the Cambay C-77H well in India is being inhibited by the 1,500 metre column of gas in the wellbore. Management is considering solutions to this problem. The company plans to farm-out 50% of Cambay. The share price declined by 17.1% to 0.085p.
