Tungsten West (LON: TUN) has secured a term sheet for non-dilutive funding for the Hemerdon tungsten and tin mine in Devon and the final capital expenditure estimates are expected by the end of September. Royalty financing of $30m has been obtained at an initial rate of 4.75%, which drops to 2.375% after 7mmtu of tungsten is produced. There is also up to £10m of asset backed financing. Tungsten West had £17m in the bank at the end of August. The share price rose 20.8% to 29p.
Transense Technologies (LON: TRT) shares have bounced back after it announced that it was evaluating licencing opportunities for its surface acoustic wave sensor technology in the aerospace sector with Meggitt. This could lead to a licence agreement before the end of 2023. The shares are up 31.3% to 65p.
Mixer drinks supplier Fevertree Drinks (LON: FEVR) still believes it can achieve previous guidance even though costs are increasing. This helped the share price to recover some of its previous losses and rise 11.7% to 1060p, although it is still down by three-fifths this year. Revenues from sales to pubs and bars recovered from weak levels last year, but off-trade sales fell.
Energy supplier Yu Group (LON: YU.) says profit has significantly exceeded expectations and underlying EBITDA should be £4.7m. Interim figures will be announced on 27 September. The shares are 9.7% higher at 197.5p.
Bradda Head (LON: BHL) has intersected spodumene in its first hole at San Domingo in Arizona. Visible lithium-bearing minerals were identified, including spodumene and lepidolite. The shares rose 10.5% to 9.45p.
Union Jack Oil (LON: UJO) has fallen 18.1% to 41.75p after publishing an independent report that says that 40% owned Wressle oilfield could have a recoverable resource of 2.43 MMB barrels of oil. An illustrative production scenario shows a constrained production rate of 800 barrels of oil per day for five years. The Union Jack Oil share price is still higher than at the beginning of September. Egdon Resources (LON: EDR), which owns 30% of Wressle and is the operator, fell 10.3% to 7.8p. The other 30% is owned by Europa Oil & Gas (LON: EOG), which is 9.09% higher at 3p. Union Jack Oil is providing an 18 month, £1m loan facility with an annual interest rate of 11% to Europa Oil & Gas.
CleanTech Lithium (LON: CTL) shares fell 11.5% to 54.5p even though the JORC resource estimate was upgraded to 1.51 million tonnes of lithium carbonate equivalent at a grade of 206mg/L at the Laguna Verde project in Chile. That is effectively profit-taking after the strong gains earlier in the month.
Interim figures from Accesso Technology (LON: ACSO) sparked a 8.8% decline in the share price to 538p. The queueing and ticketing technology company reported a 26% increase in revenues to £63.7m and an improved pre-tax profit of £2.92m in what is the seasonally weaker half. Visitor levels are recovering and full year figures are likely to be in line with expectations.
TV and film production services provider Facilities by ADF (LON: ADF) had tough comparisons for its interim figures and reported pre-tax profit was lower. Revenues improved from £11.5m to £12.6m, but the lack of large productions and higher overheads since flotation mean that profit was lower. There will be more, and higher value, productions in the second half, so some of the profit shortfall should be offset. Flotation funds are being used to increase the size of the vehicle fleet.