Scirocco Energy (LON: SCIR) has completed the disposal of its 25% stake in the Ruvuma project and it has received the $2.54m completion payment. A further $3m is payable on final investment decision, up to $8m net revenue share and contingent consideration of $2m based on production levels. The share price jumped 26.7% to 0.475p.
Mosman Oil & Gas (LON: MSMN) has signed a farm-in agreement with Greenvale Gold to fund seismic and drilling on the EP 145 project in the Northern Territory of Australia. Mosman will retain a 25% interest if a four-year work programme is completed. There is an initial payment to Mosman of A$160,000. The share price increased 34.9% to 0.029p.
Drilling has been restarted at the Tai-3 well in Tanzania after Helium One Global (LON: HE1) sourced a replacement rig component from the US. The share price improved 16.3% to 5.7p.
Telecoms billing software provider Cerillion (LON: CER) has beaten forecasts again. There has been buoyant demand from existing customers, even though there have not been any large contracts signed recently. A pre-tax profit of £15.3m is forecast for the year to September 2023. The share price has fallen in recent weeks, but it recovered 9.43% to 1160p.
FALLERS
Two executives of T42 IoT Tracking Solutions (LON: TRAC) have subscribed £12,600 for shares at 3.5p each. Two other directors have taken shares in lieu of salary. This provides additional working capital for the tracking products company. Even so, the share price fell 10.1% to 2.75p.
Crossword Cybersecurity (LON: CCS) is raising £230,000 from unsecured, convertible loans, taking the total loans raised to £2.245m out of an authorised £2.5m. The share price slipped 8.57% to 8p.
Audioboom (LON: BOOM) reports third quarter revenues of $14m and made a loss because of weak advertising demand. The podcast platform operator is expected to generate revenues of $19m and a positive EBITDA in the fourth quarter. Cavendish had expected a 2023 profit, but it has downgraded to a £1.9m loss, compared with a £3.2m pre-tax profit in 2022. A return to profit is expected in 2024. The share price dipped 5.56% to 170p.
Anglo Asian Mining (LON: AAZ) produced 5,300 gold equivalent ounces in the third quarter, down from 14,300 ounces in the same period last year due to the suspending of flotation and agitation leaching operations. Full year production guidance is 30,000-34,000 ounces. Discussions continue for the restart of production at Gedabek. Net cash declined to $1.6m. The share price fell 3.88% to 49.5p.
