Retailer TheWorks.co.uk (LON: WRKS) is closing its online channel and moving to a non-transactional website. Online is making a small and reducing contribution to revenues. There will be exceptional costs of £2m. There are plans to open more stores. Like-for-like growth has been 3.3% this year and the company expects to meet market EBITDA expectations of £11m, or £13.5m for continuing activities. Without the online loss, 2026-27 EBITDA has been upgraded from £12.7m to £15m. The share price rebounded 16.5% to 43p.
Spreadex has increased its interest in Geo Exploration (LON: GEO) from 9.79% to 10.9%, including 8.79% held via financial instruments. The share price increased 12.55 to 0.1125p.
Emmerson (LON: EML) has raised £750,000 at 2p/share and retail offer could raise up to £100,000. The cash will fund work in Morocco while Emmerson goes through the arbitration process over the Khemisset potash project in Morocco. The share price improved 4.88% to 2.15p.
Healthy snacks producer Tooru (LON: TOO) has secured new listings and distribution agreements in the UK and Switzerland. Stock availability has been improved for Pulsin. Shareholders are being offered discounts on Oaf gluten free, Juvela and Pulsin products. The share price rose 4.76% to 0.22p.
FALLERS
Sound Energy (LON: SOU) has raised £500,000 at 5p/share and secured a €1.3m term loan facility agreement, which has an interest rate of 205 each 120 days. The loan drawn down and interest is payable by the end of 2026. The Tendrara phase 1 Micro-LNG development has fully tested and commissioned the Tendrara gas gathering system. Commercial gas sales could start in the third quarter because of delays in the delivery of equipment for the plant. A joint venture will develop solar power plants in Morocco. The share price slumped 38.2% to 5.25p.
Kefi Gold and Copper (LON: KEFI) has raised £34m at 1.2p/share. A retail offer could raise a further £1m. The cash will go towards completing the $330m funding for the Tulu Kapi project in Ethiopia and there is extra cash available for working capital. The share price slipped 10.6% to 1.2475p.
Heinrich Müller and Luis Felipe Azevedo, who is replacing his father, have been appointed to the board of Jangada Mines (LON: JAN). they will help to build a Brazil-focused gold resource company. The share price declined 5.26% to 1.35p.
Atlantic Lithium (LON: ALL) says the Ewoyaa lithium mining lease has been ratified by the Parliament of Ghana. This provides exclusive rights for mining and production for an initial 15 years. The spodumene royalties range from 5% for a spodumene price of up to $1,500/tonne to 12% for a price above $3,200/tonne. The share price fell 5.39% to 17.975p.