Karelian Diamond Resources (LON: KDR) has been issued a mining concession certificate for the Lahtojoki diamond deposit in Finland. The deposit includes pink diamonds that can be sold for up to 20 times normal diamond prices. The share price soared 167.9% to 1.5p.
Phoenix Copper (LON: PXC) has signed a letter of intent for a US based investor to subscribe for $75m of the company’s 8.5% corporate copper bonds due 2029-2033. This will be drawn in three tranches with the first trance of $30m. There will be a preference share issued to the lender, and this is convertible into 25 million shares at 5p each. The investor will have one board seat. This is all subject to due diligence and documentation. The short-term lender has converted $176,585 of the outstanding principal into 4.85 million shares at 2.82p each. The share price jumped 41.9% to 5.25p.
Financial services provider Manx Financial Group (LON: MFX) says it expects a 41% increase in 2024 pre-tax profit to £9.9m. This is subject to final audit. The share price rose 15.9% to 25.5p.
Mixed signal Application Specific Integrated Circuits designer EnSilica (LON: ENSI) says first royalty payments have been triggered and the agreement extended with a satellite service provider. Work with this customer commenced in 2021 and there will be additional monthly royalty payments for each satellite in operation. The total value of the agreement has increased from $15m to $28m. The share price increased 15.7% to 40.5p.
Mobile Tornado (LON: MBT) has appointed Luke Wilkinson as chief executive. Jeremy Fenn will be executive chairman. In 2024, revenues fell from £2.27m to £2.03m and the loss increased from £1.07m to £1.67m. Net debt was £11.4m at the end of 2024. The focus is on growing recurring revenues. The share price improved 9.52% to 1.15p.
FALLERS
Red Rock Resources (LON: RRR) is hopeful that there will be a positive result of the arbitration over the sale of copper and cobalt assets near Kolwezi in the DRC without its knowledge. An exploration programme should start on its Boulon licence in Burkina Faso in the next two months. Gold production is expected to restart at El Limon in Colombia, where Red Rock Resources has royalty over production. The share price slumped 21.4% to 0.0275p.
A secondary placing of Cerillion (LON: CER) shares by chief executive Louis Hall was announced late on Wednesday. He wants to sell 1.33 million shares at 1500p each. He currently owns nearly nine million shares. The share price slipped 15.3% to 1610p.
URU Metals (LON: URU) says an investor approached the company over an investment and it is acquiring £420,000 shares at 3.5p each. This will fund the next phase of exploration at the Zeb nickel project in Limpopo, South Africa. There are four high priority, drill-ready targets. The share price declined 14% to 4.3p.
Ex-dividends
Christie Group (LON: CTG) is paying a final dividend of 1.75p/share and the share price slipped 2.5p to 147.5p.
Eleco (LON: ELCO) is paying a final dividend of 0.7p/share and the share price rose 0.5p to 170.5p.
Helios Underwriting (LON: HUW) is paying a dividend of 10p/share and the share price slid 3p to 239p.
Impax Asset Management (LON: IPX) is paying an interim dividend of 4p/share and the share price decreased 7.1p to 188.5p.
Judges Scientific (LON: JDG) is paying a final dividend of 74.8p/share and the share price slipped 230p to 7750p.
Keystone Law (LON: KEYS) is paying a dividend of 29p/share and the share price declined 23p to 595p.
London Security (LON: LSC) is paying a final dividend of 42p/share and the share price fell 50p to 3750p.
Orchard Funding Group (LON: ORCH) is paying a dividend of 2p/share and the share price is 0.5p lower at 50.5p.
Restore (LON: RST) is paying a final dividend of 3.8p/share and the share price declined 1.5p to 257.5p.
Spectra Systems Corp (LON: SPSY) is paying a final dividend of 11.6 cents/share and the share price fell 10p to 199p.