Waratah Capital Advisors has sold its 8.64% stake in Bradda Head Lithium (LON: BHL), while Spreadex Ltd has acquired a 3.52% shareholding. The share price recovered 113% to 1.6p.
Eqtec (LON: EQT) is broadening its strategy to gain exposure of critical and precious metals, while continuing with the core waste to energy technology business. They are viewed to be complementary segments of the energy transition sector. Lenders are supporting the move. The share price jumped 56.9% to 0.08p.
Wellnex Health Ltd (LON: WNX) improved gross margin from 22.8% to 31.3% in the first half. Breakeven was achieved in the second quarter. The core Pain Away product generated revenues of A$3.3m in the second quarter. The share price gained 41.7% to 8.5p. The March 2025 placing price was 31.75p.
Mkango Resources (LON: MKA) has completed concept studies for expanding South Carolina and Nevada hubs, which will treble production of magnets and alloys to 4,656 metric tons. The expanded hubs could have a post-tax NPV of more than $2bn. This will help the proposed reversal into the US listed shell. The rare earth recycling and sintered magnet manufacturing plant in Birmingham has been officially opened. The share price rose 34% to 57.6p.
Shares in AOTI Inc (LON: AOTI) rebounded 30.8% to 42.5p after Panmure Liberum initiated research. It forecasts a move into profit in 2025 and rapid growth after that. The 2025 pre-tax profit forecast is $2.4m, rising to $4m in 2026 and $9.8m in 2027.
FALLERS
Shareholders in Indus Gas (LON: INDI) have voted to leave AIM and ahead of that on 23 January the share price slipped 32.4% to 1.59p. JP Jenkins will provide a matched bargains facility.
Shuka Minerals (LON: SKA) has received the £815,000 payment from Gathoni Muchai Investments. A placing raised a further £1m at 4p/share. This funded the completion of the acquisition of Leopard Exploration and Mining and the Kabwe zinc mine. There are 5.723Mt of resources at Kabwe (including 700,000 tonnes of zinc and 100,000 tonnes of lead), with a value in excess of $2bn. The NPV10 is $561m. The placing discount offset the more positive news and the share price fell 26.1% to 4.25p.
Tern (LON: TERN) has been notified by the general partner of SVV2 that Tern has ceased to be a limited partner in the SVV2 partnership because it has been classed as a defaulting investor. Tern’s interest has been transferred to other partners, and it is unlikely to receive any compensation. The general partner is also seeking default interest and costs of £40,000 and indemnity from consequence of default of £184,000. Tern is taking legal advice. The share price declined by one-quarter to 0.45[.
Virtual product advertising Miriad Advertising (LON: MIRI) says 2025 revenues fell from £1m to £400,000. It expects a much stronger performance in 2026 with positive signs for February and March. There are joint venture discussions for emerging markets. Cash was £1.2m at the end of £1.2m and the monthly cost base is £220,000. The share price slipped by 25% to 0.006p.