Active Energy Group (LON: AEG) shares returned from suspension following publication of interims and the potential for a resurrection of the business. Shareholders previously voted against liquidating the company and Zen Ventures provided a loan of £200,000 to enable the publication of 2023 accounts earlier in December and the subsequent interims have been released. Zen Ventures will appoint two directors. The plan is to commercialise the CoalSwitch technology. The share price soared 309% to 0.225p.
Shares in i-nexus Global (LON: INX) rebounded 80% to 2.25p following the previous week’s approval by shareholders of the cancellation of the AIM quotation. The share price is still lower than before the proposal was announced.
Tiger Royalties and Investments (LON: TIR) is changing strategy to become a technology incubator. It is acquiring Bixby Technology Inc, which is run by Jonathan Bixby, for £325,000. A fundraising at 0.1p/share will raise £3m. New shareholders include Premier Miton, Zeus and Jupiter. Toro is subscribing £325,000 worth of shares. The company is retaining its core resources investments, and it will consider other natural resources investments. The share price jumped 50% to 0.15p.
Gfinity (LON: GFIN) says that it achieved monthly profitability in November. Accounts for the year to June 2024 have been delayed and will not be published by the end of 2024, so trading in the shares will be suspended on 2 January. The share price initially fell, but end the week 35.3% higher at 0.0575p.
Nioko Resources is making a recommended offer of 2.68p/share for Hummingbird Resources (LON: HUM). This is the same as the price of the debt-to-equity swap previously announced. That would take the Nioko Resources stake in Hummingbird Resources to 72%. The share price rose by one-third to 2.2p.
FALLERS
Tribe Technology (LON: TRYB) shares dived 93.4% to 0.115p after revealing that its accounts will be delayed and it plans to leave AIM. The autonomous mining equipment developer is in talks with potential provider of finance, and it believes that leaving AIM will make it easier to raise money. Trading in the shares will be suspended on 2 January.
Synairgen (LON: SNG) wants to raise up to £19m at 2p/share to fund a phase II study for respiratory drug treatment SNG001. The largest shareholder TFG Asset Management has conditionally underwritten £18m of this. However, there is a placing and open offer to raise £6m and the TFG subscription will be reduced by the amount raised over £1m. However, if the placing and open offer does not raise at least £2.9m the AIM quotation will be cancelled. The share price slumped 54.4% to 2p.
Cadence Minerals (LON: KDNC) has signed a letter of intent with Hesperian Metals to acquire tungsten antinomy gold licences for projects in Spain and Portugal. Both have old workings, and the main focus is tungsten. Cadence Minerals will acquire up to 40% of licences through a payment in cash and shares and commitment to spend €2.4m on exploration. The deal is subject to due diligence. A placing is raising £1m at 1.5p/share. The share price halved to 1.6p.
Shareholders approved plans for Webis (LON: WEB) to lave AIM and this will happen on 3 January. The share price fell by two-fifths to 0.075p. Neometals (LON: NMT) is cancelling its AIM quotation and concentrating on the ASX listing. It joined AIM in 2022, but it has been difficult to raise funds. Trading volumes on AIM have been low. The cancellation will be on 3 February. The share price slipped 35.3% to 2.75p.