Orosur Mining Inc (LON: OMI) has signed a share purchase agreement to acquire the rest of the shares in the Anza gold project in Colombia. This deal is subject to regulatory approval. The consideration is based on commercial production. It is NSR royalties of 1.5% and fixed royalties of $75/ounce for the first 20,000 gold equivalent ounces. The share price jumped 32.5% to 3.65p.
Video editing technology developer Blackbird (LON: BIRD) continues to rebounded 26.3% to 6p following the interims earlier in the week. Revenues fell 30% to £692,000 because of the ending of the A+E deal and lower operating costs meant that the loss was reduced. Cash burn was similar at £1.9m, leaving net cash of £5.6m. The elevate.io product was released in March and monetisation starts in early 2025.
Arkle Resources (LON: ARK) says Group Eleven has commenced drilling on the Stonepark licence block in Limerick, where it has a 23.4% stake. This will test the potential for zinc at the southern margin of the block. The share price improved 18.4% to 0.225p.
Shore Capital upgraded animal feed additives supplier Anpario (LON: ANP) after it reported an 11% increase in interim revenues of £17m on the back of a much greater rise in volumes and slightly lower pricing. Raw material costs have stabilised. Full year revenues expectations have been raised from £33m to £34m, while the pre-tax profit estimate is increased from £3.9m to £4.4m, up from £3.5m in 2023. The share price increased 17.3% to 322.5p.
FALLERS
Property finance provider Vector Capital (LON: VCAP) slumped 62.3% to 10p ahead of trading being cancelled on Monday. The company spent £3.5m on a tender offer at 33p/share. This mopped up most of the minority shareholders.
Trading recommenced in the shares of south east Asia-focused energy company Coro Energy (LON: CORO) following publication of 2023 accounts. The loss was reduced from $8.2m to $5m, partly due to a gain on disposals of $1.3m. A consolidated cash flow forecast up until the end of 2025 shows that additional funds will be required in order to pay creditors and invest in renewables assets. Disposals and/or a share issue are possible. The share price declined 58.2% to 0.0575p.
Chariot (LON: CHAR) says work at a pilot hole to evaluate the Anchois Footwall prospect was abandoned due to it being water bearing. The presence of gas is indicated in the area. Drilling of the main hole has started. Further details are expected next week. Chariot has a 30% interest. The share price dipped 50.6% to 3.165p.
Fulcrum Metals (LON: FMET) is raising £643,500 at 8p/share and directors will subscribe for an additional £114,500 once the interims are published. The cash will be invested in the Teck-Hughes and Sylvanite gold tailings projects in Canada. This should enable nearer-term revenues Management will also review opportunities for exploration drilling on the Tully and Big Bear prospects and a potential technology testing facility in Ontario. The share price fell 36% to 9.5p.