Strategic Minerals (LON: SML) improved its interim profit from $40,000 to $670,000. That is due to higher demand for its magnetite tailings operations in New Mexico following the return of a major customer. There is $280,000 in the bank. The long-term focus is the Redmoor tin/tungsten project in Cornwall. The share price jumped 47.1% to 0.2p.
Clean Power Hydrogen (LON: CPH2) has completed the final stage of the Factory Acceptance Test for the MFE110 electrolyser. The customer is Northern Ireland Water, and it will deploy one unit. This should help to spark more serious interest from other potential customers. The share price rebounded 31.4% to 11.5p.
Gfinity (LON: GFIN) says David Halley is subscribing £30,000 at 0.015p/share, while £120,000 has been raised via convertible issue. Gfinity has cut costs and broke even at the operational level in the first half. Management is assessing new opportunities that broaden the current digital media focus. The share price recovered 31.6% to 0.025p.
Neometals (LON: NMT) reported a reduction in the annual cash outflow from operations from $20.4m to $13.5m, while the investment spending fell from $14.9m to $12.1m. There was $9.1m in cash at the end of June 2024. Neometals is in discussions with potential partners. The share price rose 15.8% to 5.5p.
Transport analytics provider Cordel (LON: CRDL) is raising £1m at 6.5p/share and the majority of the cash will fund additional research and development. This should help to generate revenues from the positive train content market in the US. The investment in recruiting additional people means that a profit is not going to be achieved this year. The share price improved 14.3% to 6p.
FALLERS
Phoenix Copper (LON: PXC) increased its interim loss from $630,000 to $1.1m. Net debt is $4.1m. An $80m corporate copper bond issue was completed at the end of the period. That will finance the Empire copper, gold and silver open pit mine in Idaho. Initial capital requirements are $62.6m. The share price dived 35.9% to 10.25p.
Chronic illness management services provider Trellus Health (LON: TRLS) had net cash of $8m at the end of June 2024 and this is expected to last well into the third quarter of next year despite continued losses. Trellus Health has signed a contract with a US health plan that will make the Trellus Elevate product available for IBD patients. Two pharma companies have sold licensing deals. There are discussions with other potential partners. The share price fell 29.3% to 1.025p.
Fluid power products supplier Flowtech Fluidpower (LON: FLO) had already pre-empted the interims in its July trading statement, but trading got tougher in the third quarter. Interim sales fell 6% to £55.7m with customers deferring orders. A recovery was expected in the second half, but revenues are likely to be flat leading to a 2% decline in revenues to £110m. Pre-tax profit is forecast to slump from £4.3m to £1.7m before recovering next year. The share price dipped 20.8% to 87.1p.
Weak US demand continues to hold back the recovery of IG Design (LON: IGR). North American revenues are 14% lower so far this year and that has dragged overall revenues down. The cautious ordering patterns continue in the US because of uncertain consumer demand. Revenues are expected to fall this year. Canaccord Genuity has downgraded its full year pre-tax profit forecast from $36m to $32.7m, well up on the $25.9m made last year. This is because margins continue to improve. A dividend is still forecast for this year. The share price declined 25.4% to 127.5p.
Ex-dividends
Alumasc (LON: ALU) is paying a final dividend of 7.3p/share and the share price fell 7.5p to 283p.
Advanced Medical Solutions (LON: AMS) is paying an interim dividend of 0.77p/share and the share price rose 0.5p to 220.5p.
Braime (TF & JH) (LON: BMT) is paying an interim dividend of 5.25p/share and the share price is unchanged at 1250p.
Central Asia Metals (LON: CAML) is paying an interim dividend of 9p/share and the share price fell 8.5p to 192.5p.
Duke Capital (LON: DUKE) is paying a dividend of 0.7p/share and the share price dipped 0.5p to 32.5p.
Equals (LON: EQLS) is paying an interim dividend of 1p/share and the share price declined 0.5p to 117.25p.
Fevertree Drinks (LON: FEVR) is paying an interim dividend of 5.85p/share and the share price improved 17.75p to 810.25p.
FIH Group (LON: FIH) is paying a final dividend of 5.5p/share and the share price slid 10p to 265p.
Fletcher King (LON: FLK) is paying a final dividend of 2.25p/share and the share price dipped 3.5p to 42.5p.
Fintel (LONL FNTL) is paying an interim dividend of 1.2p/share and the share price declined 8.5p to 258.5p.
FRP Advisory (LON: FRP) is paying a final dividend of 2.3p/share and the share price fell 1.5p to 144p.
Good Energy (LON: GOOD) is paying an interim dividend of 1.1p/share and the share price is 3p lower at 247.5p.
Hargreaves Services (LON: HSP) is paying a dividend of 18p/share and the share price slipped 15p to 559p.
Public Policy Holding (LON: PPHC) is paying an interim dividend of 4.7 cents/share and the share price dipped 0.5p to 131p.
System1 (LON: SYS) is paying a dividend of 5p/share and the share price is unchanged at 690p.
Wynnstay Group (LON: WYN) is paying an interim dividend of 5.6p/share and the share price is unchanged at 330p.