Shares in finance provider Sancus Lending (LON: LEND) doubled to 0.9p last week. This was on the back of chief executive Rory Mepham buying one million shares at 0.51p each. The previous week, Somerston Fintech and Golf Investments increased their combined stake from 55.5% to 56.6%. The share price is still 28% below the level it was at the beginning of the year.
Red Rock Resources (LON: RRR) has been granted an environmental certificate for a lithium project in Zimbabwe. It has also been granted its first licence in Ivory Coast – for an initial four year term. The share price jumped 68.6% to 0.215p. That was down from the high on the week after William Armstrong and reduced their stake from 6.55% to 4.18%.
Sustainable biopesticides developer Eden Research (LON: EDEN) has appointed a new product distributor in Colombia. Anasac Colombia will be exclusive distributor of Mevalone and it will seek regulatory approval for its use on freshly cut flowers to prevent Botrytis cinerea. Colombia exported $1.73bn worth of cut flowers in 2021. The share price is 58% higher at 7.9p.
Rurelec (LON: RUR) has completed the disposal of its Argentinian assets and a special dividend of 0.2p a share will be paid on 14 July. The main asset remaining are power turbines, which the company is trying to sell. They may be ring fenced to make it easier for the company to attract a reverse takeover deal. The share price is 50% ahead at 0.75p.
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Fallers
Battery technology developer AMTE Power (LON: AMTE) says it needs to complete a financing within four weeks. There is no certainty that any money will be raised and that means that shareholders may end up with nothing. The cash will provide more time for the company, but it needs significant funds to finance the building of a battery plant. The share price has slumped 73.2% to 13.25p. The March 2021 placing price was 175p.
Mirada (LON: MIRA) fell a further 48.3% to 1.55p ahead of the cancellation of the AIM quotation on Monday.
Shares in GCM Resources (LON: GCM) slipped 38.8% to 2.525p on the back of a heavily discounted placing raising £500,000 at 2.5p. The discount looks high because of a spike in the share over the past month. At the beginning of June, the price was 2.9p. Further cash will be required for working capital later in the year.
Nigeria-focused oil and gas company San Leon Energy (LON: SLE) is continuing discussions on a refinancing, but the progress has not been as fast as expected. There are $10.5m of unpaid creditors. The 2022 accounts will not be published by the end of June and trading in the shares will be suspended on 3 July. The share price slide continues with a further decline of 37.7% to 15.525p. The share price has more fallen 53.9z% so far this year.
