T42 IOT Tracking Solutions (LON: TRAC) says 2022 revenues were around $4m, with 50% coming from SaaS contracts. There is an increasing focus on the shipping container sector and new orders have been won that will boost revenues in 2023. A significant improvement in revenues is being targeted for 2023. There could even be add-on acquisitions. The share price rose 13% to 6.5p.
Cadence Minerals (LON: KDNC) provided a corporate update this morning. The Hastings Technology Metals share price has fallen thereby reducing the value of the stake received when Cadence Minerals swapped its 30% stake in mineral concessions in the Yangibana rare earths project. Even so, Hastings is making progress in developing the mine and ore reserves increased by one-quarter to 20.93Mt at 0.9% total rare earth oxide grade. That increases the mine life to 17 years and production could start in 2024. Shipping of iron ore concentrate from the Amapa iron ore project should recommence in the next six months. The share price is 7.66% ahead at 14.4p.
ValiRx (LON: VAL) has incorporated a new subsidiary called Inaphaea BioLabs, which will offer pre-clinical and drug testing services. It will also undertake work previously outsourced by ValiRx. The share price improved 6.67% to 12p.
Accrol (LON:ACRL) has signed a licensing agreement with Unilever, which will enable the tissue products manufacturer to sell a kitchen towel product under the Lifebuoy brand. This is a brand with strong recognition among consumers. This will be a higher priced product than the products currently produced by Accrol. A new paper mill is being built. The share price increased 7.58% to 33.35p.
Non-executive directors of Inland Homes (LON: INL) have all resigned because of related party issues that they were not informed about at the relevant times. That would leave the residential property developer with one director, so Simon Bennet is staying on for a fortnight so another director can be appointed – if not the shares will be suspended. Founder Stephen Wicks is likely to return to the board. There will be further announcements about the related party issues. The share price slumped 23.3% to 7.75p, which is a new low.
Waste-to-energy technology developer EQTEC (LON: EQT) has been unable to complete the share purchase agreement between Deeside WTV Ltd and Logik WTE. The agreed date has passed but discussions continue. EQTEC is also talking to other potential investors in the Deeside project, which includes material recovery and anaerobic digestion facilities. This will delay revenues for EQTEC. Altair Group has reduced its stake in EQTEC from 18.2% to 12.2%. The share price dived 17.7% to 0.255p.
Artemis Resources Ltd (LON: ARV) is raising A$2.55m at A$0.015 a share and exploration activities are likely to restart after the strategic revies is complete. Trading as recommenced on ASX. The carrying value of the Fox Radio Hill processing plant will be impaired by A$12.5m. The share price is down 13.3% to 0.845p.
Communications services provider Mobile Tornado Group (LON: MBT) is raising £500,000 through a subscription at 2p a share and capitalising £259,490 of debt owed to InTechnology at the same share price. The market price fell 4.76% to 2p. Avi Tooba resigned as chief executive in January, although he remains with the company. The focus is building up the customer base.
