Trellus Health (LON: TRLS), which has developed digital technology to manage chronic conditions, has gained shareholder approval to issue up to £5m of secured convertible loan notes to an institutional shareholder. This will be drawn down in multiple tranches that will come with warrants. Average monthly cash burn has been reduced to $400,000. The share price rebounded 163% to 1.05p.
Goldstone Resources (LON: GRL) is raising £2m at 1p/share, which was more than double the share price ahead of the announcement. The cash will fund exploration at the Homase mine in Ghana to expand the JORC resource and to evaluate other gold projects, including one in Sierra Leone. Asian Investment Management is converting £1.45m of interest on its gold loan to shares at a conversion price base on a gold price of $4,250/ounce, taking its shareholding to 29.9%. This leaves 250 ounces of interest and the principal gold loan of 1,871.31 ounces. Directors are also taking 50% of fees owed in shares at 1p/share. The share price jumped 113% to 0.85p.
Water mediation services provider MYCELX Technologies (LON: MYX) grew 2025 revenues by 1405 to $11.7m and this, along with cost controls, has enabled the company to achieve an expected profit of around $360,000. A loss was previously forecast. The share price rose 43.9% to 41p.
Oil and gas company Block Energy (LON: BLOE) has completed the farm-out of licence XIQ (Project IV) following approval from the government of Georgia. Block Energy is fully carried through the staged work programme which could cost $95m. Aspect Georgia will earn up to 75% with an option to increase this to 92.5%. The share price is 38.6% higher at 0.97p.
FALLERS
Genetics based testing company GENinCode (LON: GENI) has raised £3.9m via a placing and subscription at 1p/share – that is more than the £3.5m minimum sought. Up to £500,000 more could be raised by a retail offer, which closes on 26 January. The company has been working with the FDA to gain 510k approval for the CARDIO inCode-Score test. Highlighted deficiencies are being attended to, including a greater emphasis on African American community data and further clinical validation. The cash will fund this and expansion in the UK and EU. The share price decreased 42.1% to 1.1p.
MobilityOne (LON: MBO) has formed a mobile money transfer collaboration in Bangladesh with bKash. It will share fees on remittance transactions by bKash account holders. There will be a modest contribution this year. The share price slipped 29% to 5.5p.
More good news for Oracle Power (LON: ORCP) from drilling at the Kalgoorlie gold project in Australia. It has intersected shallow gold mineralisation at the Northern Zone Intrusive Hosted gold project. The best result is 8 metres at 5.81g/t gold. There are a further 16 drillholes due to report results in two batches. It is possible that there is a 600 metre wide zone of shallow oxide mineralisation overlapping the Northern Zone porphyry system. The share price declined 23.3% to 0.0575p.
Trading in Landore Resources (LON: LND) shares recommenced after it published an updated mineral resource estimate for the BAM gold project in Ontario. It includes estimates for the B-47 nickel copper cobalt PGE deposit and VW nickel copper cobalt deposit at the Junior Lake nickel deposit. BAM has indicated gold of 622,300 ounces with 33,700 ounces inferred. B47 has indicated resources of 3,428 tonnes at 0.6% nickel, 0.41% copper, 0.05% cobalt, 0.13g/t platinum, 0.48g/t Pg and 0.03%g/t gold. VW has indicated resources of 3,428 tonnes at 0.4% nickel, 0.05% copper, 0.02% cobalt, 0.03g/t platinum, 0.04g/t Pg and 0.01%g/t gold. Strategic options are being considered for Junior Lake. There are potential changes at subsidiary Landore Resources Canada Inc. The share price fell 22.2% to 2.8p.