Verici Dx (LON: VRCI) has entered into an exclusive licence agreement with Thero Fisher for its pre-transplant prognostics. This will generate staged payments of $5m over the next 12 months, plus future royalties of per test. That means that Verici Dx will have enough cash until the end of 2024. Thermo Fisher has the commercial expertise to roll out the technology and it will further develop the product. The share price jumped 65.2% to 9.5p.
Rockfire Resources (LON: ROCK) says Sunshine Metals has commenced drilling at the Lighthouse tenement in Queensland. This is part of the option for Sunshine Metals to earn up to 75% of the tenement by spending $2.2m over three years. This has helped the share price to recover 22.5% to 0.245p after the failed Emirates Gold acquisition, but it has still fallen by one-third over the past week.
Initial results from drilling at the Wedding Bell and Radium Mountain owned by Thor Energy (LON: THR) confirm the potential of the US uranium projects. More than 50% of the 25-hole drill programme has been completed. The initial results come from downhole gamma logs and handheld pXRF devices to determine anomalous levels of uranium and these will be sent to laboratories for final analysis. The share price improved 8.62% to 1.575p.
Helium One Global (LON: HE1) has pulled the drill string out of hole at Tai-3 following drilling problems and wireline operations and initial logging are underway. This will be followed by downhole sampling, which will be analysed on site so that further drilling plans can be decided on. The share price rose 6.93% to 5.4p. The September fundraising was at 6p/share.
Blue Star Capital (LON: BLU) investee company SatoshiPay has appointed Benchmark International to value the business and seek potential acquirers. Blue Star Capital owns 27.9% of SatoshiPay. The Blue Star Capital share price is 7.69% lower at 0.105p.
FALLERS
Autonomous vehicles developer Aurrigo International (LON: AURR) has launched a placing to raise at least £3.5m at 100p/share and there will also be a retail offer at the same price. That is a significant discount to the market price, which declined 27.1% to 107.5p. Coventry-based Aurrigo International won the best newcomer title at the 2023 AIM awards, having floated AIM on 15 September 2022 at 48p/share. Aurrigo International had cash of £2.8m at the end of June 2023 after a £1.9m outflow from operations in the first half. There will be £1.5m spent on customer roll out and £400,000 for additional staff.
Shares in kidney disease diagnostics developer Renalytix (LON: RENX) and nickel project developer Horizonte Minerals (LON: HZM) continue to fall. Yesterday’s results from Renalytix have knocked a further 20% off the price to 22p, which is a new low. Fears over the financing of the Araguaia nickel project mean that the Horizonte Minerals share price has slipped an additional 15% to 8.25p.
Zephyr Energy (LON: ZPHR) reports third quarter revenues of $6m, down from $7.1m in the previous quarter. That is due to expected declines in production from existing wells. However, operating income improved slightly to $4.3m. New operating wells will increase production in the fourth quarter. The share price dipped 7.27% to 2.55p.
Lithium project developer Kodal Minerals (LON: KOD) has completed the $118m financing agreement for the Bougouni spodumene project in Mali. This includes a $17.75m equity subscription by Hainan Group. The rest will finance the joint venture that owns the project, where Kodal Minerals owns 49%. First production at Bougouni could be at the end of 2024. The share price slipped 4.48% to 0.64p.
