Interim figures for Vast Resources (LON: VAST) show revenues improving by 69% to $1.93m. Restructuring of mining operations at the Baita Plai polymetallic mine increased capacity. Production is increasing month-on-month. The share price jumped 50% to 0.45p.
Finance provider Morses Club (LON: MCL) says funders have extended the term-out clause on debt to the end of March. The £25m facility remains in place until then. The share price is 46.7% higher at 0.873p. The share price is highly volatile ahead of the general meeting on 3 February to vote on leaving AIM.
Digital media marketing company XL Media (LON: XLM) says full year figures will be in line with expectations with revenue of $73.7m and EBITDA of more than $16m. The growth came from sports and gaming as more states in the US legalise online gaming. Revenues from personal finance marketing fell by more than one-quarter and this part of the business may be sold. The share price rose 11.5% to 17p.
Fire safety products supplier LifeSafe Holdings (LON: LIFS) revenues for 2022 were ahead of the upgraded expectations in December. Annual revenues jumped from £700,000 to £3.9m. There were additional costs to supply US demand and the loss is expected to be £1.4m. WH Ireland is maintaining its 2023 revenues forecast at £5.5m with a much lower loss. The share price moved ahead by 9% to 42.5p.
Digital transformation services provider TPXimpact Holdings (LON: TPX) has downgraded 2022-23 guidance with revenues expected to be £80m rather than £90m. EBITDA falls more sharply and could be around £2m. Third quarter like-for-like revenues were 15% lower and there was a sharp reduction in margins. Net debt was £17.5m at the end of December 2022 and management warns it is likely to breach debt covenants. The share price slumped 42.4% to 26.5p.
Asia-focused investment company Jade Road Investments (LON: JADE) is raising $1.75m at 0.75p a share. The share price fell 11.8% to 2.25p. The most recent NAV was 49p a share. The new shares represent more than three-fifths of the enlarged share capital. This will provide working capital until the end of the year. A more significant fundraising in the future plus disposals will provide additional cash for longer-term investment. The investing policy of the company is being modified so there is more focus on income production.
Annual results from acoustic insulation supplier Autins Group (LON: AUTG) show revenues falling by one-fifth to £18.9m, although second half revenues were slightly higher than those in the first half. The supply chain issues of automotive customers continue to hold back sales and they are continuing. Automotive remains the main sector, although flooring sales also declined. The loss trebled to £3.55m. Net debt is £2m and lenders have agreed to payment deferrals until July 2023 and covenant waivers until March 2024. Improved pricing and cost reductions should reduce the annualised loss by £2.5m. This is an important step for Autins on the road back to profit. The share price slipped 11.1% to 8p. The board of legal services provider RBG Group (LON: RBGP) has terminated the contract of chief executive Nicola Foulston because it has lost confidence in her. Jon Divers becomes acting chief executive. The 2022 results are expected to be in line with expectations (pre-tax profit £6.9m) and a second interim dividend is promised. The company is exiting the litigation finance business and concentrating on core businesses. The share price fell 10.6% to 59p.