Virtual reality technology developer Engage XR (LON: EXR) generated record interim revenues of €2.2m, but the full year loss is still expected to be flat at around €4m and net cash should be €3.7m. Management believes profitability can be achieved in late 2025. The share price recovered 15.4% to 0.75p.
Oil and gas explorer Petrel Resources (LON: PET) says some countries are talking about improving fiscal terms for explorers, but they remain sub-optimal for explorers. Petrel Resources has been assessing critical minerals projects, which can gain EU subsidies. Helium is the most advanced area of investigation. This perked up the share price 14.3% to 1p.
Jersey Oil and Gas (LON: JOG) recovered a small proportion of its share price loss following its interims. Delays to the Buchan field development mean that first oil will be after 2027. The timing will depend on decisions by the UK government. Jersey Oil and gas is halving annualised costs to £1.5m and it still has cash of £13m. The share price rebounded 4.03% to 64.5p.
Touchstone Exploration Inc (LON: TXP) says that it is no longer going to go ahead with its bid for rival Trinidad-based oil and gas producer Trinity Exploration and Production (LON: TRIN). During the summer, the target’s board recommended the rival 68.05p/share cash bid from Trinidad incorporated Lease Operators and withdrew the recommendation of the Touchstone bid. The Touchstone Exploration share price is unchanged at 32p, while Trinity Exploration and production is 4.17% higher at 62.5p.
FALLERS
Phoenix Copper (LON: PXC) has published the pre-feasibility study for the Empire open pit mine in Idaho. Discounted NPV at 7.5% discount is $87.9m and total cash costs are estimated at $2.44/copper equivalent pound. Over eight years the mine could generate net free cashflow of $153m. Further exploration planning is happening, and equipment is being purchased for the processing site. The share price lost some of its recent gains and is down 12.8% to 17p.
Telematics technology supplier Trakm8 (LON: TRAK) says fleet and optimisation revenues are well ahead of the same period last year. However, insurance revenues are still depressed as clients run down their stocks of equipment. Higher margins should offset increased costs, so that interim profit is maintained. The full year results remain uncertain. The share price slid 10.7% to 6.25p.
Secure payments technology company PCI-Pal (LON: PCIP) expects full year results to be published by 22 October. The audit process is taking longer than expected and more work is required. The company has reiterated guidance, so forecasts are unchanged. Annualised recurring revenues will be 23% ahead at £15.5m and this year has started well. Even so, the delay knocked 2.8% off the share price to 52p.
Oil and gas company Sound Energy (LON: SOU), which at one point was one of the larger companies on AIM but has fallen back sharply, says the farm-out of Tendara should be completed in the coming weeks. There is a £146m impairment charge related to the farm-out. There was £2.1m in the bank at the end of June 2024, although £1.9m is in the subsidiary being sold as part of the farm-out, although that might be retained as part of working capital adjustments. There is a £1.5m bridge debt facility. Net debt could be £30m at the end of 2024 and rise to $39m next year. The share price declined 4.77% to 0.738p.
Ex-dividends
Brooks Macdonald (LON: BRK) is paying a final dividend of 49p/share and the share price increased 2.5p to 1842.5p.
Cavendish Financial (LON: CAV) is paying an interim dividend of 0.25p/share and the share price dipped 0.15p to 10.1p.
Diales (LON: DIAL) is paying an interim dividend of 0.75p/share and the share price is unchanged at 26p.
Eckoh (LON: ECK) is paying a final dividend of 0.82p/share and the share price is unchanged at 48.5p.
Eleco (LON: ELCO) is paying an interim dividend of 0.3p/share and the share price is unchanged at 133p.
Epwin (LON: EPWN) is paying an interim dividend of 2.1p/share and the share price is down 1p to 101p.
Gamma Communications (LON: GAMA) is paying an interim dividend of 6.5p/share and the share price fell 29p to 1677p.
Jet2 (LON: JET2) is paying a final dividend of 10.7p/share and the share price is 17.5p higher at 1426.5p.
Keystone Law (LON: KEYS) is paying an interim dividend of 6.2p/share and the share price rose 5p to 635p.
Lords Group Trading (LON: LORD) is paying an interim dividend of 0.32p/share and the share price fell 1p to 40.5p.
PHSC (LON: PHSC) is paying a final dividend of 1.25p/share and the share price slipped 1p to 31.5p.
Robinson (LON: RBN) is paying an interim dividend of 2.5p/share and the share price slid 2.5p to 107.5p.
Restore (LON: RST) is paying an interim dividend of 2p/share and the share price dipped 0.5p to 266.5p.
Somero Enterprises (LON: SOM) is paying an interim dividend of 8 cents/share and the share price declined 1p to 295p.
Property Franchise Group (LON: TPFG) is paying an interim dividend of 6p/share and the share price fell 1p to 445p.