Quantum Blockchain Technologies (LON: QBT) has made a breakthrough for its Bitcoin Artificial Intelligence model mining tool. The Method C AI Oracle can skip calculations if it assesses that they will not be successful. This provides a 30% improved performance compared with other methods. The company is ready to demonstrate the technology and is seeking a chip manufacturing partner to produce a commercial product. The share price jumped 141.4% to 1.75p.
Chronic kidney disease tests developer Renalytix (LON: RENX) has re-qualified for Foreign Private Issuer status. This follows a move from Nasdaq to the OTCQB Venture Market. There will be no more quarterly reporting. This provides annual cost savings of up to £1.9m. The share price increased 6.52% to 12.25p.
Arc Minerals (LON: ARCM) has been granted an interim injunction against interference in licences in Zambia by Mumena Mushinge and Zambia Mineral Exchange Corporation Limited. Legal proceedings are already ongoing over the alleged breach of the Zambian settlement agreement. The share price rose 5.56% to 1.425p.
M&C Saatchi (LON: SAA) increased 2024 like-for-like revenues by 3.5% in 2024 and it has made £10m of annualised savings. Net cash has risen to £16m. Pre-tax profit is forecast to improve from £28.7m to £31.5m. Panmure Liberum expects organic growth of 4% and higher margins in 2025. The 2025 pre-tax profit forecast is £36.6m. The share price improved 4.52% to 185p.
FALLERS
Gift wrap supplier IG Design (LON: IGR) customers did not sell as much as expected over the Christmas period and this has hit orders. On top of the weak demand, there are US customers in financial difficulties. The fourth largest customer has re-entered Chapter 11 bankruptcy protection and total provisions will be around $15m.The American business is predominantly behind the 10% slump in revenues, although the international business revenues were 1% lower. IG Design is only expected to breakeven in the year to March 2025, compared with forecast pre-tax profit of $32m, and forecasts have been withdrawn by Canaccord Genuity. The share price slumped 59.3% to 58p.
Premier African Minerals (LON: PREM) has raised £1.2m from a placing at 0.0275p/share. A retail offer could raise up to £2.3m more. The cash will be invested in the Zulu project in Zimbabwe and to pay suppliers. The retail offer closes on 20 January. Some creditors may take shares for the money owed. If the cash raised in the placing and offer plus the capitalisation of debts does not get near to £3.5m the placing and offer will not proceed. The share price dipped 22.2% to 0.028p.
Cinemas operator Everyman Media Group (LON: EMAN) increased full year revenues by 18% to £107.2m, but the loss rose from £3.4m to £5.1m. Everyman Media has increased market share to 5.4%. Management is cautious about the current year. The forecast loss for the current year has ben raised to £1.6m. The share price slipped 10.9% to 45p.
Gold producer Metals Exploration (LON: MTL) has published initial estimates from internal studies of the La India gold project in Nicaragua. Annual production could be 145,000 ounces and the mine life could be more than 12 years. NPV6 is $882m. In 2024, gold revenues from the Philippines were 31% higher at $191.1m. Gold production is expected to fall to 70,000 to 75,000 ounces in 2025. The share price is 1% lower at 6.1p.