Share buying in Enteq Technologies (LON: NTQ) helped the price rebound by 50% to 2.7p. The share price slumped after the company issued a poor trading statement and decided to commence a formal sale process, which will be handled by Gneiss Energy. The company has already contacted some interested parties and is in discussions with two of them. The estate of William Black has reduced its stake from 24.6% to 20.7%.
Orosur Mining (LON: OMI) has released further drilling results for the Pepas prospect in the Anza project, which shows that it has significant potential. The lates four holes include gold grades of up to 7.24g/t. This takes the number of holes with substantial gold intersections to eleven. The share price rose 96.7% to 12p. This is the highest share price for more than two years.
Gfinity (LON: GFIN) has signed an exclusive licence agreement with 0M Technology Solutions to commercialise 0M’s AI technology Connected IQ (CIQ). Gfinity believes it combine its network and contacts in the advertising sector to help commercialise CIQ. The fee is 30% of net profit generated by the licence. It is unclear how quickly sales can be built up. Gfinity has the option to buy 0M for £2m after the first anniversary of the agreement and lasting until the end of third year. 0M is owned by Robert Keith, who owned 19.6%, prior to the latest fundraising. Gfinity has raised £260,000 ay 0.0625p/share. The new shares come with warrants exercisable at 0.09p/share. The share price increased 48.1% to 0.1p.
Sustainable laundry technology developer Xeros Technology (LON: XSG) is progressing with tech verification from four global washing machine manufacturers and two of those could move to substantial paid-for joint development agreements. Timing is uncertain, though. Even so, Cavendish has reduced its 2024 and 2025 forecast revenues. The loss is estimated to decline from £4.8m to £4.5m in 2024. Net cash was £2.8m at the end of 2024 and it should be £800,000 at the end of 2025. The share price recovered 42.9% to 0.75p.
Mkango Resources (LON: MKA) has completed a £2.34m placing at 8p/share. The cash will fund further development of the recycling facilities in Germany and the UK. The share price improved 25.8% to 11.45p, which is the highest it has been since the end of 2023.
FALLERS
RA International (LON: RAI) directors have decided to ask for shareholder permission to leave AIM. The remote services provider to global organisations says that disclosure requirements hamper the business by enabling rivals have a greater insight into its strategy. Also, confidentiality agreements mean that it is difficult to provide investors with the information they want. Liquidity is poor because Soraya Narfeldt and Lars Narfeldt own more than 80% of RA International. Contract mobilisation delays are hampering trading, and a loss is expected for 2024. Costs will be reduced this year and non-core business could be sold for up to $5m. The share price dived 87.7% to 0.8p. RA International joined AIM via a placing at 56p/share in June 2018.
Lung cancer diagnostics developer Lung Life AI (LON: LLAI) is planning to leave AIM with discussions continuing with one strategic partner to help to commercialise its lung cancer tests. However, there is unlikely to be an agreement in the short-term and cash, currently $1.31m, is only going to last until later in the second quarter. A public share issue is unlikely to be viable. If no source of funding can be found, then the company would be wound up. The share price slumped 80.5% to 2p.
Oxygen enrichment device developer Belluscura (LON: BELL) has raised £4m at 2p/share and a WRAP retail offer could raise up to £500,000. The cash will be used to purchase inventory and bolster the balance sheet. The licence fee payment to Separation Design Group is expected to be between $400,000 and $575,000 on product sales up to 15 September 2025. The subscription price of warrants owned by the company will be reduced from 45p to 2p. Three non-execs and one executive director will step down from the board, although the latter will remain on the board of the US subsidiary. The share price declined 69.6% to 1.9p. The retail offer closes at 2pm on 10 February.
APQ Global Ltd (LON: APQ) says the US government’s slashing of international aid and foreign assistance has created a tough environment for its investee companies. Cash flow generation and refinancing debt should enable APQ Global to repay convertible loan holders by the end of March, but it is more uncertain than previously. The outstanding principle is £26.1m. Delphos is the main investment and two-thirds of its transaction advisory contracts have been cancelled, and they were worth $5m. The others are also likely to be cancelled. Cash inflows over December and January were expected to be $18.9m, but they were $1.1m. The estimate for February has been downgraded from $16.5m to $14.5m, although the March estimate has been raised from $4.3m to $11.1m. That still means a reduction $12m over the period. APQ Global had $3.2m in cash at the end of January. The share price slipped 61.5% to 2.5p.