It will take longer than expected to build up sales of Stereax small battery cells and this has hit the Ilika (LON: IKA) share price, which has slumped 41.8% to 26.5p. The commercial prototypes will not be available until the end of 2023 and orders are taking longer to build up. It is also taking longer than anticipated for the larger Goliath batteries to reach the position where they have equivalence with lithium-ion cells. Forecast group revenues have been cut for this year and next year, while the 2024-25 forecast has been slashed from £18.1m to £2.7m by Berenberg. That indicates the length of the delays. That would put Ilika into a net debt position, so a fundraising is probable before the end of 2024.
Landore Resources Ltd (LON: LND) shares slipped back 14.9% to 14.25p. The drilling programme at the Felix-Lamaune prospects at the Junior Lake property in Ontario appear to be progressing well. One hole intersected significant palladium-enriched nickel mineralisation.
Mosman Oil & Gas (LON: MSMN) says it is in the process of commencing production at the Cinnabar-1 well in Texas and initial flow rates should be announced in mid- December. Even so, the share price declined by 7.14% to 0.065p.
Fuel cells developer Ceres Power (LON: CWR) will not conclude the negotiations and approvals for its China joint venture with Robert Bosch and Weichai Power until next year. The Ceres Power share price has been declining all this year and it fell a further 5.36% to 343.75p.
Harland & Wolff (LON: HARL) is the highest riser for the second day running after Team Resolute, a consortium it is part of, was made preferred bidder for a £1.6bn contract to build Royal Navy support vessels. The share price is 53.4% higher at 27.45p.
Crimson Tide (LON: TIDE) has signed an improved three-year contract with an existing retail client for its mobile scheduling and reporting technology. The contract is worth more than £1m and annual recurring revenues are double the level of the previous contract. The shares rose 19.5% to 2.45p.
Shares in Cornerstone FS (LON: CSFS) recovered 6.9% to 7.75p after it said that full year revenues should be 87% higher at £4.3m. Direct customer account for 78% of revenues. Gross margins should improve from 52% to 61%.
Shanta Gold (LON: SHG) has announced further positive drilling results from the West Kenya project. There have been gold intercepts at high grades. The share price improved by 7.29% to 10.3p.
Ex-dividends
Beximco Pharmaceuticals (LON: BXP) is paying a final dividend of 3.46 cents a share and the share price is unchanged at 61.5p.
Cake Box (LON: CBOX) is paying an interim dividend of 2.63p a share and the share price fell 3p to 113p.
Caspian Sunrise (LON: CASP) is paying a maiden dividend of 0.04p a share and the share price declined by 0.2p to 3.9p.
CVS Group (LON: CVSG) is paying a final dividend of 7p a share and the share price still rose 3.5p to 1948.5p.
Frenkel Topping (LON: FEN) is paying an interim dividend of 0.34p a share and the share price was 0.25p lower at 73.75p.
Impellam Group (LON: IPEL) is paying a special dividend of 55.4p a share and the share price is down by 40p to 600p.
James Halstead (LON: JHD) is paying a final dividend of 5.5p a share and the share price slipped 0.5p to 203.5p.
Jarvis Securities (LON: JIM) is paying a dividend of 2.5p a share and the share price is unchanged at 162.5p.
Steppe Cement Ltd (LON: STCM) is paying an interim dividend of 5p a share and the share price s 6p lower at 43p.
Tristel (LON: TSTL) is paying a final dividend of 3.93p a share and the share price is unchanged at 330p.
Union Jack Oil (LON: UJO) is paying a special dividend of 0.8p a share and the share price fell 0.5p to 32.5p.
Volex (LON: VLX) is paying an interim dividend of 1.3p a share and the share price fell 1.25p to 279.75p.
Wynnstay Properties (LON: WSP) is paying an interim dividend of 9p a share and the share price is unchanged at 670p.
Young & Co (LON: YNGA) is paying an interim dividend of 10.26p a share and the share price edged up 1p to 1173p.
