Verditek (LON: VDTK) has signed an exclusive supply agreement to supply solar panels to building and roofing products supplier Lindab Profil AB. They will be sold in the Nordic and eastern European markets. The exclusivity depends on the sale of panels of 850kw in 2023. The share price jumped 276.2% to 0.925p.
Condor Gold (LON: CNR) is entering the end of the first phase of the process to sell the La India gold project in Nicaragua. There are three formal expressions of interest, including two non-binding offers, with more likely to be received. The project requires $105.5m of investment and has an estimated NPV (5%) of $86.9m. There are additional areas to explore. The share price rose 50.8% to 23.75p.
Pendulum, a company incubated by Blue Star Capital (LON: BLU) investee company SatoshiPay, where it holds 27.9%, has launched Spacewalk, a blockchain bridge connecting the Stellar and Poladot networks. The PEN token has commenced trading on Singapore-based MEXC Global Exchange. SatoshiPay owns 5.5% of Pendulum. The Blue Star share price jumped 38,6% to 0.2425p.
Digital mental health company Kooth (LON: KOO) has won a significant contract in California covering 13-25 year olds. Services will be provided to the Behavioural Health Virtual Services Platform, and they will launch in January 2024. Specific terms are still to be finalised, but there should be a material impact on annualised recurring revenues from 2024. The share price rose 33.3% to 230p.
Circle Property (LON: CRC) announced a return of capital through a B share issue with a second distribution to follow. The company has nearly completed the sale of its property portfolio. The first distribution of 158p a share (£46.2m) will be on 21 March. A second distribution of 58p a share should be made in April. There will be a much smaller distribution when the final disposal is completed. An incentive payment of £620,000 is being paid to each executive. The shares have gone ex-payment and the share price fell 130p to 75p.
Clinical diagnostics firm Verici Dx (LON: VRCI) started the week by reassuring investors that it had no banking relationship with Silicon Valley Bank. Yet, the share price fell consistently through the week with trades predominantly being sales. The share price slumped 38.9% to 5.5p, which is a new low. There was $15.7m in the bank at the end of June 2022 and that cash will run out by the end of 2023.
Nucleic acid-based Optimer binders developer Aptamer (LON: APTA) reported interim revenues of £1m, which were in line with the previous trading statement, and management believes it can achieve full year revenue forecasts. However, this is fourth quarter weighted so there is caution and Liberum cut its 2022-23 forecast from £6m to £5m. That would leave net cash of £1.93m at the end of June 2023. The share price is 25.9% lower at 30p.
Energy supplier Yu Group (LON: YU.) reported 2022 figures in line with expectations, although the bad debt provision increased from 3.1% to 7.7% of sales. Year-end contracted revenues of £247m underpin the 2023 revenue forecasts. There are fears about bad debts this year. The share price fell 22.4% to 590p, but it is still 162% higher than at the end of 2021.
