Yesterday afternoon, Xtract Resources (LON: XTR) confirmed the completion of three hole at the Silverking project, which is the subject of an option and joint venture agreement with Oval Mining. Xtract Resources can earn-in up to 70% of the copper mine in Zambia. Drilling continues to establish the morphology of the main pipe-like structure. The share price continues to rise, adding 21.4% to 0.85p
SIMEC Atlantis Energy (LON: SAE) has been awarded a capacity contract for the AW1 120MW BESS project at Uskmouth in Wales. It will receive £60/KWh for 15 years in return for a reliable source of electricity supply. This will help to secure funding for the project. The share price increased 12.2% to 2.3p.
Minoan Group (LON: MIN) remains in talks with the provider of its secured debt, which expired at the end of 2024. A successful resolution is anticipated in weeks. The share price recovered 7.69% to 0.35p.
Distil (LON: DIS) shares have recovered some of the loss sustained following yesterday’s trading statement. The drinks brands owner expects to improve fourth quarter revenues by one-third, but full year revenue is expected to fall to 31% to £1.1m. Trading remains difficult. Management believes that the switch of UK distributor to Global Brands will help to return the business to growth. Costs are being reduced and strategic options assessed – but not including an offer for the company. There will be a need for more cash by September. The share price rebounded 7.69% to 0.07p.
Pitfield titanium project developer Empire Metals (LON: EEE) shares have been admitted to trading on the OTCQB Market in the US when trading opens today, and the symbol will be EMPLF. Empire Metals hopes to try to build up a US shareholder base and improve liquidity. Titanium is classed as a critical mineral in the US. The share price improved 3.91% to 11.95p.
FALLERS
Ethernity Networks (LON: ENET) is raising £88,750 at 0.05p/share. This follows yesterday’s announcement that the company invoiced $890,000 of a $1.05m contract with a US aerospace system products provider. The contract will be extended by $290,000. There will be further revenues in the second half. The share price slipped 32% to 0.0425p.
Shareholders have agreed to the cancellation of the AIM quotation of Biome Technologies (LON: BIOM) and this will happen on 21 March. JP Jenkins will then provide a matched bargain facility. The share price fell by one-fifth to 1p.
Artemis Resources (LON: ARV) had A$2.5m in cash at the end of 2024. Exploration of the Carlow gold resource in Western Australia identified six targets. Drilling results could begin to be reported in the current quarter, according to Zeus. The share price declined 9.41% to 0.385p.
DRC focused metals explorer Rome Resources (LON: RMR) has completed two exploratory holes at the Bisie North permit area. Significant zones of visible tin and copper mineralisation were intersected. Drilling is paused ahead of a maiden inferred mineral resource for two of the prospects in the area. If lithium spodumene prices improve then lithium project exploration activity should pick up. The share price dipped 4.88% to 0.195p.