Science Group (LON: SAG) is buying the shares it does not own in TP Group (LON: TPG) for 2.25p a share in cash. That values TP Group at £17.5m. The share price jumped by 184% to 2.2p, which is the highest the share price has been since June. Science Group already owns 28% of the company and replaced the previous management. The independent directors of TP Group have agreed to the bid.
Firering Strategic Minerals (LON: FRG) has entered an agreement with Ricca Resources to fund the development of the Atex lithium tantalum project and adjacent Alliance Lithium exploration licence in Cote d’Ivoire. Firering Strategic will spend up to $18.6m. There is a cash payment of $1m and the acquisition of Ricca shares worth $600,000. The rest of the cash funds a four stage earn-in of up to 50% of the project. The share price soared 77.6% to 13.85p. This is the highest the share price has been for nearly one year.
Oil and gas producer Caspian Sunrise (LON: CASP) is paying its first dividend of 0.0444p a share and promises monthly distributions. The ongoing dividend will be based on 35%-40% of free cash flows or a minimum of £1m. Production is currently 2,400 barrels/day. The oil is being sold locally, but an international trading subsidiary is being set up to sell internationally at higher prices. The share price jumped 56.5% to 3.6p.
Cyber security provider Osirium Technologies (LON: OSI) has generated bookings of £2.52m in the nine months to September 2022, compared with £1.6m in the whole of 2021. The share price more than doubled at one point before ending the week 54.5% higher at 4.25p. Management says that there is a greater client understanding of the importance of privileged protection and security, and average contract values are increasing. Annual recurring revenues are £1.74m.
Kefi Gold and Copper (LON: KEFI) was boosted by the end of hostilities in northern Ethiopia. This will enable further development of the Tulu Kapi gold project. The capital investment requirement has risen to $320m. The project funding is still in place with syndicate approval expected in mid-November. The share price has risen 42.7% to 0.8705p.
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Fallers
North Sea oil and gas company Longboat Energy (LON: LBE) says results from drilling at the Oswig prospect in the northern North Sea were at the lower end of expectations. Longboat Energy has a 20% stake in Oswig. Recoverable resources are estimated at between 10 and 42 million barrels of oil. After a steady rise until Wednesday the share price dived 42.7% on the week at 25.8p. Longboat Energy joined AIM in November 2019 at 100p.
Delivered meals company Parsley Box (LON: MEAL) continues its share price decline on the back of a potential cancellation of the AIM quotation. The share price has been volatile, but it fell a further 37.5% during the week to 2p.
Data analytics company Rosslyn Data Technologies (LON: RDT) released full year results in the afternoon on Monday and announced the sale of Integrite the following day. In the year to April 2022, revenues from continuing operations fell from £3.6m to £2.7m and the cash outflow from operating activities was £2.23m. There was net cash of £882,000 at the end of September 2022, down from £2.4m at the end of April. The assets of Integrite were sold for an initial £1.6m with up to £1.4m based on revenue and growth targets. This was a non-core business. The share price ended the week at an all-time low of 0.85p, down 33.3%.
Ncondezi Energy (LON: NCCL) requires more funding by the end of November and the share price fell 30.2% to 0.925p. It may be able to draw down £150,000 from its convertible loan facility. The feasibility study for the 300MW solar project confirmed that it is technically viable.
Yourgene Health (LON: YGEN) interim revenues were lower but if Covid revenues are excluded they were 14% ahead at £8m. Margins are under pressure from rising costs, which means that the full year loss will be higher than previously expected. The share price slipped 26.7% to 2.75p.
