Rockhopper Exploration (LON: RKH) says Navitas, its partner in the Sea Lion joint venture in the Falkland Islands, has released a resource report. Phases one and two of the development remain the same with the development of 319mmbbl gross in the northern area of the field. Phase three will take the total production peak to 150mmbbl/day. The initial phase of 170mmbbl should reach final investment decision by the middle of 2025. It will take $1.4bn to reach first oil. The progress has pushed up the share price rose 12.3% to 42.55p.
Third quarter revenues at machine learning technology company Insig AI (LON: INSG) has grown third quarter by 64% to £131,000 compared to the second quarter. Fourth quarter revenues are expected to be £224,000. There is increasing engagement with customers and additional personnel are being recruited. To help fund this, £350,000 has been raised at 16p/share, including subscriptions by chief executive Richard Bernstein and chairman John Wilson. There is also an equity funding facility of £350,000 provided by Richard Bernstein, which gives him the right to subscribe for shares at 20p each. The share price is 9.23% higher at 17.75p.
Totally (LON: TLY) interim chief executive Prasad Godbole has bought 640,833 shares at 3.9p each and medical director John McMullan has acquired 4.17 million shares in the healthcare company at a range of prices between 3.0625p and 3.749p. The share price improved 6.67% to 4p.
Infrastructure-as-a-service provider eEnergy Group (LON: EAAS) has won two LED lighting contracts worth £572,000 as well as being appointed to the LASER Public Sector Framework for LED lighting. This framework will help to access work in the public sector, including school, the NHS and local authorities. The share price is 6.1% ahead at 4.35p.
Shares in Big Technologies (LON: BIG) have recovered following last week’s slump following the suspension of boss Sara Murray and current litigation. Neudi Kapital has a 10.5% stake. The share price increased 6.39% to 68.3p.
FALLERS
Shares in Wishbone Gold (LON: WSBN) have returned from suspension 42.2% down at 0.105p after the proposed reverse takeover of Evrensel Global Natural Resources was terminated. Anthony Moore has left the board, and David Lenigas has joined as a consultant. A placing has raised £700,000 at 0.1p/share. The company requires £500,000 to pay for costs and other liabilities. One of the operating subsidiaries is being restructured and £190,000 of the cash is required to pay the reduced liabilities. The focus will be on gold prospects in Australia, particularly those near to the Telfer project owned by Greatland Gold (LON: GGP).
Cannabis medicines developer Celadon Pharmaceuticals (LON: CEL) chief executive and 39.5% shareholder intended to propose the removal of the chairman and four non-executive directors at a general meeting. This is because they oppose his wish to leave AIM. The four non-executives have resigned and there will be a general meeting to propose the AIM cancellation. If this resolution passes, the chairman will resign, and JP Jenkins is likely to provide a matched bargain facility. The share price slumped 28.6% to 10p.
Trading in Sovereign Metals (LON: SVML) shares has been halted ahead of a fundraising. The plan is to raise A$40m at A$0.85/share. This will be invested in the development of the Kasiya rutile graphite project. The share price declined 10.4% to 43p.
Diagnostics company Abingdon Health (LON: ABDX) improved interim revenues by 28% to £3.1m, including four months from CS Lifesciences, and second half is stronger than expected. Contract development income was weak in the first half due to deferral of decisions, but new business has been won. Full year revenues are expected to rise from £6.1m to £8.5m, but Zeus has raised its forecast loss from £1.5m to £2.7m. Profitability is not expected until 20262-27. The share price fell 13.8% to 6.25p.