Shuka Minerals (LON: SKA) has agreed with AUO Commercial Brokerage to extend the availability period for the entire £2m of the unsecured convertible note instrument to March 2026. The new redemption date is March 2027. Shuka Minerals is making progress towards the acquisition of the Kabwe mine. AUO has yet to provide any of the funding. The conversion price is 15p/share. The share price is two-fifths higher at 3.5p.
Shares in currency services provider Argentex (LON: AGFX) are continuing their upward momentum following full year figures earlier in the week. Chief executive Jim Ormonde bought 320,338 shares at 46.8p each. The outcome for 2024 was better than expected. Cash generated from operating activities improved from £13.6m to £16.7m. However, Argentex still fell into loss and may not return to pre-tax profit this year. Investment in digital infrastructure will help long-term growth. The share price rose a further 8.24% to 46p.
Keras Resources (LON: KRS) says the Togo state-owned company that has a mining permit for the Nayega manganese mine has appointed a contact miner and agreed an offtake deal with Fujax. Keras has advisory and brokerage agreements that entitle it to an advisory fee of 1.5% of gross revenues generated by the Nayega mine for three years and 6% of gross revenues for brokerage services over the lesser of 3.5 years and 900,000 tonnes of manganese ore produced and sold. The share price improved 7.69% to 1.4p.
Video editing technology developer Blackbird (LON: BIRD) reported a dip in revenues from £1.94m to £1.61m because of a lost contract. Operating costs were reduced. There was a £2.4m outflow from operating activities and there is £3.77m of cash in the balance sheet. Blackbird has already gained around 100 subscribers to the online collaborative editing platform elevate.io since its recent full launch and there are more than one thousand users. Blackbird has secured total revenues of £960,000 for 2025. That is lower than the same time in the previous year because that included a deal for the Olympics. The share price recovered 7.41% to 3.625p.
FALLERS
Minoan Group (LON: MIN) says trading in the shares is likely to be suspended because it does not have enough cash to complete the audit of its accounts to October 2024. The suspension is expected on 1 May, but it may come earlier because of the lack of cash. Minoan has not bee able to extend the secured loan, totalling £1.19m, provided by DAGG. A proposal from DAG includes the conversion of the loan into shares and an additional £4.44m cash injection in return for shares. Some members of DAGG would also write off £1.1m they are owed. DAGG wants to nominate management to take the company forward. The share price slumped 61.5% to 0.125p.
Beowulf Mining (LON: BEM) has revealed the full terms of its previously announced fundraising. A placing and rights issue could raise up to £4m and a retail offer could raise up to £700,000 at 11/share. The first £100,000 of the retail offer is subject to clawback relating to the placing. The WRAP retail offer will have a subscription period between 16 April and 2 May. The share price declined 35% to 13p.
Cleantech Lithium (LON: CTL) says the special lithium operating contract application process for the Laguna Verde project is taking longer than anticipated. The response to the application was expected in early April, but there is not indication of when it will happen. The share price fell 5.13% to 9.25p.