Shares in Cambria Africa (LON: CMB) doubled to 0.45p when trading recommenced after 2022-23 accounts and subsequent interims were published. Early buying has flushed out some sellers later in the morning. The shares will be suspended again on Monday because there will be no nominated advisers. Shareholders have voted to cancel the AIM admission on 22 October.
Premier African Minerals (LON: PREM) shares rebounded 51.3% to 0.0469p following the previous week’s £550,000 fundraising at 0.0315p to fund operational activities at the Zulu lithium and tantalum project. The share price is still lower than two weeks ago. Management is hopeful that it will soon resolve problems with the processing facilities. The company says that options for the Zulu project including selling it or part of it.
John Gunn has acquired a 12.1% stake in SEEEN (LON: SEEN). This makes him the second largest shareholder in the video sharing platform developer behind Gresham House. The share price recovered 44.2% to 3.75p, which is still 38.8% lower than at the beginning of the year.
ECR Minerals (LON: ECR) is talking to three Australian companies about the sale of its A$75m of tax losses. The company is awaiting rock chip results from the Lolworth gold and critical minerals project in Queensland. Single-stage gravity recovery testing of samples from the Blue Mountain project in Queensland have shown recovery rates of 91.7% of the gold. This suggests that gravity recovery of alluvial gold from a plant onsite is possible. Further analysis is still required, though. The share price improved 41.3% to 0.325p.
FALLERS
Inspirit Energy (LON: INSP) is returning to its previous existence as a shell (it was previously Kleenair Systems International) because the lead engineer of its subsidiary has to stop working for the company to care for a relative. This has put waste heat recovery engine development on hold. The company will preserve cash and become a shell and seek takeover opportunities. The share price dived 64.7% to 0.003p.
Data analytics software provider Rosslyn Data Technologies (LON: RDT) is raising £1.64m via placing at 5p/share and £250,000 from a retail offer that closes on 10 October. A convertible loan note will raise a further £1.2m and existing convertibles will be converted at 5p/share. This will fund growth and the development of technology. Rosslyn Data Technologies is trading ahead of previous expectations. The share price slumped 45.1% to 6.125p.
Resources investment company Tiger Royalties and Investments (LON: TIR) says the value of its portfolio of investments and cash has fallen from 0.08p/share to 0.06p/share. That sparked a one-third downturn in the share price to 0.1p. The main declines in value were in the shareholdings in African Pioneer (LON: AFP) and Jubilee Metals Group (LON: JLP).
Blue Star Capital (LON: BLU) is continuing the strategy to seek an exit of its investments. The launch of the de-fi project to Pendulum and Nabla that is called Vortex is the key to the valuation of the SatoshiPay investment and the sale has been suspended. The funding of Vortex is not yet in place. Around 90% of the NAV is based on the 27.9% SatoshiPay stake and this valuation depends on the launch of Vortex and if SatoshiPay raises additional funds then this stake will be diluted. The Blue Star Capital share price slipped 28.8% to 0.0125p.