Shares in Renalytix (LON: RENX) have been on the rise since the Nasdaq market opened yesterday. There has been a further 28.3% increase to 59p this morning. There has been a 449% rise over five days. Last week. the Centers for Medicare and Medicaid Services published a draft local coverage determination for Renalytix for KidneyIntelX and kidneyintelIX.dkd. The Medicare price is $950/test. The specified coverage is for patients with diagnosed Tupe 2 diabetes and Stage 1-3b Chronic Kidney Disease. The loss making company will start to build up revenues, but it is likely to need additional cash.
Waste to energy technology company Eqtec (LON: EQT) has received a £500,000 subscription at 2.35p/share from Verde Corporation and could get up to £1m more at 4.75p/share. Loans totalling £406,000 from Altair Group and Pitcole Ltd have been converted into shares. YA II PN and Riverfort Global are talking to a potential buyer of their 10.2 million shares. They will still own 26.4 million warrants exercisable at 7.87p each, as well as syndicated debt of £600,000. The share price increased 16.7% to 2.8p.
KEFI Gold and Copper (LON: KEFI) says the funders of the Tulu Kapi gold project will seek approval of the transaction from their respective committees. The Ethiopian government has reaffirmed its equity investment. The project launch should be in the first half of 2024. The total investment is $320m. The share price improved 16.8% to 0.669p.
Portable oxygen equipment developer Belluscura (LON: BELL) has a new partnership with Chicago-based Sunset HealthCare Solutions, which will offer the X-PLOR portable oxygen concentrator to more than 1,600 businesses. It will then offer the DISCOV-R POC when it is available. The share price is 7.5% higher at 21.5p. Belluscura has received 95.7% acceptances from shareholders in standard list shell TMT Acquisition (LON: TMAA). The offer is open for a further 14 days.
FALLERS
Electric drivetrain developer Saietta Group (LON: SED) has failed to secure an electrical steering pump contract manufacturing opportunity and it may sell the relevant production line for £600,000. That would help its short-term financial position. Cash was expected to last until March and additional funds will still be required. Discussions continue with potential OEM customers. The share price slumped 54.7% to 7.25p.
Trading in Artemis Resources (LON: ARV) shares has resumed on ASX and the AIM share price has lost most of its previous gains falling 39.7% to 0.95p. Trading was halted on 8 February and the share price is still higher than the 0.825p on that day. Yesterday, Artemis Resources published an update on the West Pilbara project exploration. This shows potential sub vertical orientation of pegmatites at Kobe and Osborne. The first drill hole potentially stopped short of the Osborne target. A drilling programme to test Osborne is planned for March to test near surface lithium rich zones.
Neometals (LON: NMT) says a review of the Spargos project in Western Australia indicates low potential for lithium-bearing pegmatites. Sampling did not produce any significant results. There will be field mapping to investigate two potassium anomalies and a strategic review of the project. The share rice dipped 6.25% to 7.5p.
Dekel Agri-Vision (LON: DKL) produced 2,839 tonnes of crude palm oil in January, an increase of 56% on the previous January. Prices weakened and were around €737/tonne, although there are signs of improvement. WH Ireland had assumed €850/tonne for the full year. Input costs have decreased. New equipment has been ordered for the cashew processing operation and that will help increase production. The share price is 7.41% lower at 1.25p.
