Tiger Royalties and Investments (LON: TIR) is changing strategy to become a technology incubator. It is acquiring Bixby Technology Inc, which is run by Jonathan Bixby, for £325,000. A fundraising at 0.1p/share will raise £3m. New shareholders include Premier Miton, Zeus and Jupiter. Toro is subscribing £325,000 worth of shares. The company is retaining its core resources investments, and it will consider other natural resources investments. The share price jumped 50% to 0.15p.
Ascent Resources (LON: AST) has acquired 49% of American Helium’s acreage of helium rich oil and gas licences in Utah and Colorado for $2m in cash and shares. Management says that it will distribute 41% of its recent claim award in Slovenia to eligible shareholders. A placing raised $476,000 at treble the previous market price. The share price rose 21.2% to 2p.
OPG Power Ventures (LON: OPG) grew interim revenues by 24%. Increased utilisation of its generating plant and stable coal prices. Net cash was £22.3m at the end of September 2024. Interim pre-tax profit edged up from £4.1m to £4.3m. Full year pre-tax profit is expected to decline from £7.6m to £5.1m due to higher coal prices. The share price improved 16.5% to 6p.
Tekcapital (LON: TEK) portfolio company Guident has received a European Patent Grant for autonomous vehicle remote monitoring and control centre technology. One of these remote monitoring centres has been built in Florida. The share price increased 5.88% to 9p.
FALLERS
Tribe Technology (LON: TRYB) shares fell a further 77.3% to 0.125p after the autonomous mining equipment developer said is in talks with potential provider of finance, and it believes that leaving AIM will make it easier to raise money. Accounts will not be published by the end of 2024. Trading in the shares will be suspended on 2 January.
Synairgen (LON: SNG) wants to raise up to £19m at 2p/share to fund a phase II study for respiratory drug treatment SNG001. The largest shareholder TFG Asset Management has conditionally underwritten £18m of this. However, there is a placing and open offer to raise £6m and the TFG subscription will be reduced by the amount raised over £1m. However, if the placing and open offer does not raise at least £2.9m the AIM quotation will be cancelled. The share price slumped 33.9% to 2.475p.
Neometals (LON: NMT) is cancelling the AIM quotation and concentrating on the ASX listing. It joined AIM in 2022, but it has been difficult to raise funds. Trading volumes on AIM have been low. The cancellation will be on 3 February. The share price declined 28.2% to 3.05p.
The third quarter update from Andrada Mining (LON: ATM) shows a 15% increase in contained tin production to 232 tonnes from its mine in Namibia. The realised tin price was 26% higher in the quarter. The all-in sustaining cost rose. Management believes it can still meet the current guidance for full year costs. The share price slipped 20.6% to 0.675p.