T42 IOT Tracking Solutions (LON: TRAC) shares have risen a further 35.9% to 8.25p following yesterday afternoon’s announcement that it had secured a strategic partnership with Ashdod port in Israel. This will help to promote tracking products.
Bushveld Minerals (LON: BMN) plans to refinance debt through a three-year, 6% loan of $27m, a new convertible 12% loan of $13.5m – with a conversion price of 8p – and conversion of $4.5m of the existing loan at 6p a share. There is a supplemental production financing agreement at not more than 0.22% of gross revenues, which reduces by four-fifths at loan maturity. The share price jumped 21.4% to 4.4p.
Corcel (LON: CRCL) is selling a 20% interest in the Mt Weld rare earths project to Extraction Srl, an Italian private company for A$1m. The gain on book value is £475,000. Extraction Srl owns 9.61% of Corcel. Riversgold can still earn 50% of the project by spending A$500,000 over 12 months. The share price is 15.4% ahead at 0.375p.
Sareum (LON: SAR) has gained approval in Australia to conduct phase 1 clinical studies on SDC-1801, a new potential treatment for autoimmune diseases, such as psoriasis. The share price rose 12% to 140p.
Life sciences company Aptamer Group (LON: APTA) says that deals are slow in converting and it will require more cash. In the ten months to April 2023, revenues were £1.4m and Liberum has slashed its full year forecast from £5m to £1.8m, down from £4m last year. The monthly cash outflow is £500,000 and costs are being cut. That could cut the cost base to £4.5m. Net debt is expected to be £1m at the end of June 2023 and £2.5m is estimated to be required to be raised to get the company to June 2024. The share price slumped 51% to 12.5p. The December 2021 flotation price was 117p.
Shares in Solgenics Ltd (LON: SGN) have fallen back even though non-exec director Scott Fletcher has acquired a further 11.9 million shares, taking his stake to 27.3%. Solgenics plans to leave AIM. The share price fell 13.8% to 0.25p.
Clontarf Energy (LON: CLON) has concluded its Bolivia lithium extraction joint venture agreement with NEXT-ChemX and paid $500,000 to the partner and is in the process of issuing 385 million shares to it. The share price is 8% lower at 0.115p.
Full year figures from EQTEC (LON: EQT) were in line with guidance, although the EBITDA loss of €4.9m was at the higher end of the range. Waste-to-energy projects are being progressed, but it is taking a long-time to get to a stage where they are generating income. The share price fell 3.9% to 0.185p.
