Tekcapital (LON: TEK) has published a portfolio update showing the progress made during 2024. This was a period when investee companies MicroSalt (LON: SALT) and GenIP (LON: GNIP) joined AIM. The remaining unquoted investee company Guident is set to join Nasdaq this year. The value of the investment portfolio increased 38% to $64.2m. NAV is 25p/share. The share price improved 9.41% to 10p, which is still a 60% discount to NAV. (see Tekcapital shares gain after releasing portfolio review, reaffirms special dividend strategy – UK Investor Magazine)
Scotland-based housebuilder Springfield Properties (LON: SPR) is selling land holdings in central Scotland to Barratt for £64.2m and could sell further sites. This will contribute a significant profit in the year to May 2025. Springfield Properties will refocus on the north of Scotland. Trading has been weak so far in this financial year. Interim revenues declined 13%, but better margins meant that pre-tax profit recovered from £2m to £3.8m. Singer has downgraded its 2025-26 pre-tax profit forecast by 14% to £14.2m, but the dividend is expected to continue to recover. A net cash position is expected by 2027. The share price rebounded 9.14% to 107.5p.
Thor Energy (LON: THR) has completed the acquisition of 80.2% of Go Exploration and the payment is 466.5 million shares. A further 25 million shares were issued to Orana Corporate for consultancy services. Go Exploration is a hydrogen and helium explorer with a hydrogen and helium exploration licence in South Australia near to the Ramsay-1 and Ramsay-2 discoveries. An independent assessment is due to be published soon. The share price rose 8.33% to 0.65p.
MTI Wireless (MWE) has won a repeat antenna order worth $4m. This will be delivered in the period up to June 2026. The 2024 results will be published on 17 March. The share price increased 3.77% to 55p.
FALLERS
Trading in Europa Metals (LON: EUZ) shares recommenced this morning after the period of exclusivity over the potential purchase of Viridian Metals Ireland, which owns the Tynagh brownfield Pb/Zn/Cu/Ag project in the Republic of Ireland. Europa Metals has been unable to source funding for initial work on the project and is not going ahead with the deal. The share price dipped by one-fifth to 1.6p.
Surgery devices developer Creo Medical (LON: CREO) says core revenues were 74% ahead at £4m in 2024, which is well ahead of the forecast of £3.4m. The distribution operations have been sold leaving the company with net cash. Operating costs were reduced by £5m last year and the full benefit will be in 2025. Creo Medical is expected to remain loss-making, but it will not need to raise additional cash. The share price declined 8.73% to 17.25p.
Orosur Mining (LON: OMI) has completed phase one of its exploration joint venture for the El Pantano gold exploration project in Argentina and has a 51% stake following the $1m investment. Further investment of $2m would mean that Orosur Mining can own 100% of the project. The vendors will retain a 2% net smelter royalty. The plan is to define drill targets. The share price fell 4.05% to 13.625p.
Allergy Therapeutics (LON: AGY) says published data from its phase III G306 study for its grass allergen immunotherapy Grass MATA MPL shows a 20.3% improvement, which is much higher than for trials of other treatments. The treatment requires six injections rather than up to 100 injections and tablets of other treatments. The quality of life improves by 27.7%. A marketing authorisation application has been filed in Germany. The share price slipped 3.85% to 6p, but the share price is still on an upward trend.
Sound Energy (LON: SOU) has appointed Zeus as its nominated adviser and broker. The share price is 3.13% higher at 0.775p.