Tower Resources (LON: TRP) has awarded a rig contract to Advanced Energy Systems and this rig will be used to drill the NJOM-3 well on the offshore Cameroon Thali licence in the fourth quarter of 2025. The terms are better than the ones on offer earlier this year. The share price jumped by 45% to 0.029p.
Distil (LON: DIS) shares rose by one-quarter to 0.175p after Dr Graham Cooley increased his stake in the spirts brands owner to 20.2%.
Ondine Biomedical Inc (LON: OBI) has presented findings concerning the effectiveness of photodisinfection, which has been shown to enhance the potency of antibiotics and antiseptics in treating drug-resistant pathogens. This provides evidence for the company’s Steriwave product. The share price increased 16.7% to 10.5p.
Caledonian Holdings (LON: CHP) is investing £1m in AlbaCo, of which £750,000 is in cash for new shares and £250,000 in Caledonian Holdings shares for shares owned by AlbaCo founder and Caledonian Holdings director Jim McColl. AlbaCo (www.albacoltd.co.uk) is being set up to provide bank services to small and medium sized businesses in Scotland and other parts of the UK. It is expected to be issued a banking licence in the near future and will raise more cash then. The share price improved 13.3% to 0.00425p.
Neuroscience imaging company IXICO (LON: IXI) was involved in the validation of of anew Alzheimer’s Disease (AD) diagnostic biomarker for clientFujirebio Diagnostics, Inc. This has received approval from the FDA. The share price moved up 10.9% to 12.75p.
FALLERS
Great Western Mining Corporation (LON: GWMO) has raised £1.25m at 1p/share. Each two shares come with a warrant exercisable at 1.3p each. The cash will fund drilling at the West Huntoon copper prospect in Nevada, plus a geophysical survey and first drilling at the Rhyolite Dome gold prospect. There is also ongoing work at tungsten prospects. Expertise is being added to the team. Management is talking to larger companies to find an industry partner for West Huntoon. The share price slumped 32.3% to 1.05p.
Metals One (LON: MET1) says it is nearing completion of the acquisition of the lease agreement for Swales gold property in Nevada. The cost is $100,000 plus a 2% net smelter royalty. The ownership of the property will cost a further $750,000. This will enable phase 1 exploration to start. A new subsidiary has been set up in Nevada. The share price fell 19.4% to 14.1p.
Identity and verification services provider GB Group (LON: GBG) increased revenues from £277.3m to £282.7m and improved underlying operating profit from £61.2m to £67m. The final dividend was raised from 4.2p/share to 4.4p/share. Net debt was reduced from £80.9m to £48.5m, which is before the start of share buybacks that could amount to £10m. There was strong cash generation from operations and minimal capital expenditure and there could be another sharp fall in debt this year. This year, growth will be second half weighted, although currency movements could hamper progress. The share price declined 6.73% to 252.75p.
Dekel Agri-Vision (LON: DKL) palm oil production fell by 23% to 3,369 tonnes in May, but sales were at a 23% average higher price of €956/tonne. Palm kernel oil production also fell. Cashew operations are improving, and like-for-like production is increasing. The share price dipped 8.51% to 1.075p.