Artemis Resources (LON: ARV) reports high grade gold in veins at the Titan prospect. As well as significant grades of copper. A 10.4 ounce gold bar has been produced from metal extracted from the Titan prospect. A tenement review of the Carlow project area has led to mapping of further gold veins. These are parts of the Karratha gold project in the Pilbara region of Western Australia. This could be a large scale regional discovery. The share price jumped 68.4% to 0.8p.
Medical imaging technology developer IXICO (LON: IXI) says figures for the year to September 2024 will be ahead of expectations. Revenues will be between £5.5m to £5.9m, compared with expectations of £5.2m. Cash levels will improve. A new contract has been won to provide imaging biomarker services for phase 1 / 2 clinical trial for patients with Huntington’s Disease. The share price is one-third higher at 9.5p.
Kazera Global (LON: KZG) has received certification in South Africa that will enable the Whale Head Minerals project to commence mining of heavy mineral sands in the next few weeks. There are talks with potential off takers. Dr John Wardle has been appointed executive chairman. The share price improved 27.3% to 0.7p.
Orcadian Energy (LON: ORCA) has entered into binding licence agreements for its three new North Sea licences. One of these is the Earlham licence in the UK Southern North Sea, where a farm out deal for the potential gas field is being targeted. The gas could be used to generate power. The share price increased 27.2% to 10.625p.
FALLERS
Cannabis-based medicines developer Celadon Pharmaceuticals (LON: CEL) continues to make progress, but it has not received all the cash from the fundraising earlier this year. An investor that was going to subscribe £1m in four tranches and it has only paid £600,000 so far. This leaves the company short of funds. The expiry date of the £7m committed credit facility provided by a high net worth investor has been extended to 30 November 2025, but an initial attempt to drawdown £1m has led to £100,000 being received and £900,000 being delayed until a property has been sold. Celadon Pharmaceuticals is in talks with other potential lenders. The company has £49,000 in cash. The share price slumped 47.7% to 27.5p.
Shareholders in semiconductors designer Sondrel (LON: SND) have voted to cancel the admission to AIM on 21 August. The share price dived 43.3% to 1.475p.
Biome Technologies (LON: BIOM) is raising £950,000 at 5p/share and offering retail shareholders the opportunity to invest up to £80,000 more. The same share price will be used for the conversion of £1.28m of convertible loan notes. The cash is required for short-term working capital for the RF division, plus the financing of additional stock for Bioplastics. Allenby expects revenues to improve from £6.98m to £7.82m in 2024, mainly due to Bioplastics, and a reduced loss of £862,000, from £1.2m. The share price declined 41.9% to 12.5p.
Drug discovery company BiVictriX Therapeutics (LON: BVX) believes leaving AIM is the best way of progressing the business. Management believes that the current valuation undervalues the company due to lack of liquidity and becoming a private company will help access to further funding. The share price is hampering partnership discussions. There are plans to appoint JP Jenkins to provide a matched bargains facility. This comes almost exactly three years since the company joined AIM and raised £7.5m at 20p/share. The share price slipped 30.8% to 9p. There were 2.72 million options granted to management at 13p each.