Modular housing company Eco Buildings Group (LON: ECOB) has expanded its geographical reach and the computerisation of the production process. It has set up a new subsidiary with Socotra Real Estate Development and Investment Company to offer modular housing in Sudan. The Khartoum-based partner will invest €5m to fund two production lines and receive 50% of any net profit. The share price jumped 167% to 12p.
URU Metals (LON: URU) has appointed GeoFocus to undertake a combined ground gravity and frequency-domain electromagnetic survey over two targets at the Zeb nickel project. The share price improved 88.9% to 8.5p.
Positive drilling results for the Redmoor tungsten tin copper project have pushed up the share price of Strategic Minerals (LON: SML) by 84.2% to 0.875p. The drilling results confirm multiple zones of high-grade tungsten mineralisation at the project in Cornwall. These results are from one borehole. This suggests that Redmoor could be the highest-grade undeveloped tungsten deposit. There are also positive results for copper. The tin assays are still being reviewed. Drilling continues. Zeus has a 1.9p/share fair value for Strategic Minerals.
Genedrive (LON: GDR) failed to gain shareholder approval for the recent placing and retail offer. There is cash left until the end of 2025. David Nugent has built up a 15.1% stake, and the company is talking to him. The share price rose 50.8% to 0.6p.
FALLERS
Premier African Minerals (LON: PREM) is seeking further disapplication of the pre-emption provision for share issues to make it easier to raise the cash it requires. A total of $6.3m is required to settle debts and fund phase 5 of pre-production readiness. This follows the consolidation of ten shares into one new share when trading began on Tuesday, and the share price declined 32.5% to 0.135p.
MyHealthChecked (LON: MHC) is selling its loss-making trading subsidiary Concepta Diagnostics to Boots UK for £2.375m. The company will become a shell with £5.7m of cash after the costs of the disposal, including an exit bonus to chief executive Penelope McCormick who is leaving with the subsidiary. The share price fell 30% to 7p.
Podcast platform operator Audioboom (LON: BOOM) increased third quarter revenues by 9% to $20.4m and EBITDA by 18% to $1.2m. There is strong growth of video views, following the Adelicious acquisition. Nine months revenues are 5% higher at $55.5m, while EBIDA more than doubled to $3m. Booked revenues for 2025 are more than $79m. A strategic review is ongoing. The share price dipped 28.1% to 500p.
Mosman Oil & Gas (LON: MSMN) has raised £1.67m at 0.0225p/share and a retail offer could raise up to £500,000. This will close on 21 October. The cash will be spent on US helium projects, including Sagebrush and Coyote Wash in Colorado. The Independent Prospective Resource Validation at Coyote Wash is expected before the end of the year. The share price slid 24.1% to 0.024p.