Cannabis-based medicines developer Celadon Pharmaceuticals (LON: CEL) has received the final £103,000 of the £1m drawdown under the committed credit facility. It has also received a £389,000 R&D tax credit for 2022. The share price increased 19.4% to 21.5p.
Surgical instruments manufacturer Surgical Innovations (LON: SUN) has returned to profit in the second half of 2024, although the full year loss could still be £300,000. Trading was broadly in line with expectations. Net debt was £300,000 at the end of 2024. Brent Greetham has been appointed as finance director. The business restructuring of the business will benefit the 2025 figures. The share price recovered 18.2% to 0.65p.
Battery technology developer Gelion (LON: GELN) has successfully tested its Gen 3 sulfur cathode material with solid-state electrolyte material. This was done by a third party and shows it could replace Li-ion cathodes in sulfide electrolyte solid state batteries. Work will still have to be done to confirm commercial viability. The share price is 10.4% at 13.25p.
Bezant Resources (LON: BZT) has completed ore sorting optimisation on copper-gold ore from the Hope & Gorob project in Namibia. Grade and recovery levels exceeded those of the financial model of the project. Ore sorting tests recovered a feed grade of up to 2.95% copper. Silver grades also significantly exceeded expectations, while gold grades were in line at 0.42g/t. Payback of capital could take less than 20 months. The share price rose 8.51% to 0.0255p.
FALLERS
Gold recovery company Goldplat (LON: GDP) generated lower profits in the second quarter to December 2024. Gross operating profit fell from £3.4m to £2.5m. In Ghana, some gold sales were delayed until January. Goldplat is making progress in setting up a site in Brazil. The board is considering reinstating the dividend. Full year pre-tax profit is forecasts to decline from £4.3m to £4.2m and net cash could reach £4.3m. The share price declined 9.54% to 6.875p.
Goldstone Resources (LON: GRL) achieved a record gold pour of 16.25kg of gold dore, equivalent to 522 ounces, on 10 February. Monthly gold production has doubled since November. Operations continue to be ramped up. The target is 1,000 ounces of dore/month. The share price fell 8.51% to 1.075p.
Wound healing technology developer AOTI Inc (LON: AOTI) says 2024 revenues will be in excess of $58.1m, up from $43.9m. The Veterans Association accounted for less than three-fifths of revenues as new markets are developed, and they will become increasingly important. However, payments are slower. The full figures will be published on 26 April. Growth is expected to be more than 30% in 2025. The share price slipped 8.7% to 105p.
Checkit (LON: CKT) shares have fallen a further 4.84% to 14.75p following yesterday’s announcement of the merger with Crimson Tide (LON: TIDE). The bid is six Checkit shares for each Crimson Tide share. That values Crimson Tide at 88.5p. The Crimson Tide share price is unchanged at 87.5p.