There was a share price recovery in Clontarf Energy (LON: CLON) after it published 2023 figures. The share price rebounded following the disappointment in Bolivia. It failed to move through to the next stage of the bids for the seven priority salt pans in southern Bolivia. There was nearly £183,000 of cash in the bank at the end of 2023 and a further £700,000 has been raised since. The share price jumped 148% to 0.0385p.
Landore Resources (LON: LND) has raised £3.68m at 2.4p/share with strategic investor Luso Global Mining, a subsidiary of Mota-Engil, subscribing £1m. Alexander Shaw, who is the boss of the new investor will become chief executive of Landore Resources. The cash will fund drilling at the BAM gold project at Junior Lake in northwestern Ontario. The share price recovered 62.5% to 4.55p.
Phosphate producer Kropz (LON: KRPZ) said that it knows no reason for the share price rise earlier in the week. There has been additional trading in shares since last week and the price has fallen back from 3.25p at one point, but it is still 53.7% higher at 1.875p.
Baron Oil (LON: BOIL) non-exec Dr John Chessher acquired an initial six million shares at an average price of 0.0864p each. The share price improved 43.7% to 0.102p.
FALLERS
R&Q Insurance Holdings (LON: RQIH) is still trying to complete the sale of its Accredited business. Costs are mounting up as talks continue with regulator and other parties and it is hampering the overall business. This has hit the financial stability of the business. There could be an alternative to the original Accredited deal, but that involves the liquidation of the holding company. Slater Investments has reduced its stake from 11.7% to 10.3%. The share price slumped 91.6% to 0.12p.
Cash shell Cloudified Holdings (LON: CHL) has failed to secure a reverse takeover and trading in the shares was suspended on 13 June. Prior to that the share price dived 43.8% to 2.25p. There is six months to find a deal and potential acquisitions are being assessed. There is £425,000 in the bank and costs are £23,000/month.
Deltic Energy (LON: DELT) has been unable to find a partner for the Pensacola project in the North Sea. This means that Deltic Energy cannot finance its share of the development costs and it is withdrawing from the licence and transferring its 30% share to Shell and ONE-Dyas. Canaccord Genuity has reduced its NPV10 target price to 100p. The share price slid 36.5% to 8.25p.
Helium One Global (LON: HE1) has raised £8m at 0.5p/share. This will finance the deepening of Itumbula West-1well and the extended well test, as well as the development of the helium project in Tanzania. The extended well test should start in the third quarter. The share price fell 34.8% to 0.75p.
