Plexus Holdings (LON: POS) has secured a £175,000 contract from Neptune Energy for the Exact adjustable wellhead and Centric mudline systems. This will enable the permanent abandonment of a UK North Sea well. The work starts in the middle of 2024. The share price is 26.7% higher at 19p.
Future Metals NL (LON: FME) has agreed to vary the option agreement with Osprey Minerals to acquire 100 square km of highly prospective land near to the Panton project in Australia. The upfront consideration will be A$625,000 in shares at 3.4 cents each and the option period will be extended to 17 November. The share price rose 22.7% to 2.3p.
Automotive connections supplier Strip Tinning (LON: STG) has received a new production nomination for its glazing business and supply will commence in the second quarter of 2024. This will continue while the vehicles are in production. There should be €525,000 recognised in 2024. The marques involved include Mercedes, VW, Skoda and Toyota. The share price increased 17.7% to 50p.
Trading restarted in India power generator OPG Power Ventures (LON: OPG) shares following publication of the accounts to March 2023. Revenues were better than forecast at £58.7m, down from £80.1m, while pre-tax profit fell from £13.2m to £10.4m. This year pre-tax profit could halve. Capacity utilisation is increasing. The share price is 12.4% ahead at 12.25p.
FALLERS
Artemis Resources (LON: ARV) says that diamond drilling has commenced at the 49%-owned Osborne joint venture. This is targeting north dipping stacked LCT pegmatite in the southern zone. Spodumene bearing pegmatite has been confirmed. The share price fell 10.7% to 1.25p.
Shares in Surface Transforms (LON: SCE) continue to decline following Friday’s announcement of reduced revenue guidance. The previous forecast for 2023 revenues was £13m and it was cut to £8.6, £6.3m of which has already been earned. The share price slipped a further 15.6% to 13.5p.
Mosman Oil & Gas (LON: MSMN) says its net production US oil and gas wells was 3,564 barrels of oil equivalent in the quarter to September 2023, down from 5,937 barrels of oil equivalent in the previous quarter. The average sale prices were higher. Two wells were not producing because they were waiting for a jet pump to be installed. One of them has had the jet pump installed in October. The share price is 7% lower at 0.02p.
SDI Group (LON: SDI) has acquired temperature sensors manufacturer Peak Sensors for £2.3m net of cash. The initial payment is £1.58m and the deal should be earnings enhancing in the first full year. Peak Sensors should add £1m to revenues and operating profit of £150,000. The share price declined 4.92% to 116p.
