Trading in Mobile Tornado (LON: MBT) shares increased to levels not experienced since April and this pushed up the share price by 94.7% to 1.85p (1.7p/2p). On Thursday, there were 1.63 million shares were traded on Friday this rose to 5.24 million shares. This was still a small number of shares in relation to the issued share capital. There were no individual trades worth more than £10,000. Mobile Tornado has announced that it is entering the Guatemala and El Salvador markets.
Real Good Food (LON: RGD) has secured additional financing of £2.5m from Hilco Private Capital. This lasts for 12 months and is in addition to the £6.3m from the Leumi ABL. This will help to fund restructuring and cost reduction. Gail Lumsden is leaving the board in February and a replacement non-exec is being sought. The share price recovered 76.2% to 1.85p.
Semiconductors supplier EnSilica (LON: ENSI) says that it is trading in line with expectations. The order book and pipeline should ensure further growth in future years, as well as sharp improvements in profitability. The share price increased 54.1% to 75.5p. EnSilica joined AIM in May at 50p a share.
Zanaga Iron Ore Company (LON: ZIOC) says it is acquiring a controlling shareholding in the Zanaga iron ore project from Glencore Projects in return for the issue of shares that will give Glencore a 48.26% stake. Glencore can appoint two directors and has to retain the shares for six months. Glencore has exclusive marketing rights for the iron ore produced at the mine. A general meeting will be held on 13 December to gain shareholder approval for the deal. The Zanaga Iron Ore share price rose 43.3% to 4.5p.
North Sea oil and gas company IOG (LON: IOG) has restarted production from both Blythe and Elgood gas fields into the Saturn Banks pipeline system. The Southwark gas field should be linked up to the pipeline by the beginning of next year. The share price jumped by 42.5% to 16.1p.
DeepMatter Group (LON: DMTR) plans to cancel the AIM quotation because management believes that it will be easier to raise cash as a private company. The digital chemistry data analysis business. Says major shareholders support the plan. DeepMatter wants to raise £1m before leaving AIM and then a larger amount after the departure. This year’s revenues will be at least £1.5m. The share price slumped 62.5% to 0.045p.
Shares in Myanmar Investments International (LON: MIL) are rarely traded, but last week there was an uptick in activity, and this knocked 45.5% off the share price to 9 cents. The largest trade was in 200,000 shares at 5 cents each.
Drilling delays at five development Russian wells has hit the Petroneft Resources (LON: PTR) share price, which fell by two-fifths to 0.45p. The oil and gas company could not obtain the finance required.
Molecular diagnostics company Genedrive (LON: GDR) generated revenues of £49,000 in the year to June 2022 and the cash burn averages £400,000 each month. Net cash was £3m at the end of October. Genedrive is seeking additional funding to enable it to grow revenues. The share price fell 29.4% to 9p.
Osirium Technologies (LON: OSI) is raising £1.53m at 2p a share. The share price slumped 28.7% to 2.85p. This cash will provide additional working capital and help the cyber security business reach cash breakeven earlier than previously expected. Annualised cost savings of £1m have been identified and £650,000 of these have already been implemented. Sales director Stuart McGregor is replacing chief executive David Guyatt and he will become executive chair instead. Allenby has increased its forecast 2022 revenues to £1.8m and slightly reduced the expected loss to £3.22m. Osirium will go back into net debt during 2023.
