Sancus Lending (LON: LEND) chairman John Whittle acquired two million shares at 0.39p each and chief executive Rory Mepham bought three million share at an average price of 3.6p/share. Sancus Lending spent £2m on buying back ZDP shares funded by an issue of bonds for the same amount. That leaves 16.3 million ZDP shares, and their quotation will be cancelled. The ordinary share price recovered 50% to 0.45p.
Orosur Mining Inc (LON: OMI) has received assays from the second and third holes of the current drill programme at the Anza project in Colombia. There was a composite intersection of 77.3 metres @ 7.68g/t gold from surface at the second hole and 75 metres at 5.6g/t from surface at the third hole. This shows a continuing trend to the North West. The fourth hole is completed. The share price increased 48.7% to 8p.
Orcadian Energy (LON: ORCA) has revealed heads of agreement for a farm out deal for the 145bcf Earlham/Orwell project in the North Sea. A joint venture led by Independent Power Corporation is earning a 50% stake and Orcadian Energy is fully carried to first gas. The joint venture, which has also acquired the $1.5m Shell loan, will be repaid this free carry spending through an additional 30% share of project revenues until the cost is covered. Orcadian Energy is also selling 50% of HALO Offshore UK to Independent Power Corporation, which is securing £5m of acquisition finance for gas field buy outs. Orcadian Energy has a 50% interest in the P2634 licence in the North Sea that has been acquired by Serica Energy (LON: SQZ) from Parkmead (LON: PMG). The Orcadian Energy share price rebounded 48.6% to 13p.
Kazera Global (LON: KZG) 70%-owned subsidiary Whale Head Minerals has secured an offtake agreement with Fujax South Africa for an initial 100,000 dry tonnes of heavy mineral sands from the Walviskop project in return for 80% of the anticipated final sales price less certain costs. Production recently started. Fujax will make a prepayment of $600,000 in two tranches in December and January. The share price improved 47.6% to 1.55p.
FALLERS
ValiRx (LON: VAL) has raised £1.57m at 0.65p/share. The share price dipped by 48.3% to 0.775p. The cancer treatments developer will be spending the money on R&D for CytoLytix and new evaluation projects. Chief executive Mark Eccleston has subscribed for 17.7 million shares and intends to buy a further 3.08 million shares in the broker offer. There are warrants attached to each new share and they are exercisable at 1.3p each.
Data analysis software provider Cirata (LON: CRTA) says Marvell Semiconductor has renewed its existing contract for 12 months, which will generate $401,000. There were 358,000 shares issued to settle consultancy fees. The share price declined by one-third to 24.5p.
Impax Asset Management (LON: IPX) has lost the mandate from St James’s Place for its Sustainable & Responsible Equity Fund. It will end in February. There are £5.2bn of assets under management and annualised revenues will be reduced by £12.7m. In 2023-24, group revenues were £170.1m and underlying pre-tax profit was £49.4m. The share price dived 23.8% to 252p. That is the lowest it has been since 2020.
Industrial monitoring and maintenance systems supplier Tan Delta Systems (LON: TAND) says delays in orders mean that 2024 revenues will be lower than expected at £1.2m, down from £1.5m last year. The loss will be £1.2m. Net cash will be £3m. The share price slipped 23.4% to 18p. Tan Delta Systems joined AIM in August 2023 and raised £6m at 26p/share.