Karelian Diamond Resources (LON: KDR) raised £290,000 via convertible loans. The conversion price is 1.5p. The share price jumped 87.5% to 0.75p. The cash will finance drilling at Anomaly 5 in Finland and exploration on potential nickel copper platinum group element prospects in Northern Ireland.
Strategic Minerals (LON: SML) is raising £4.7m at 3.5p/share and despite the discount the share price gained 43.4% to 4.7p. A prominent international investor approached the company. The cash will be spent on the Redmoor Tungsten-Tin-Copper project in Cornwall. Following the fundraising, there was news concerning improvements in tungsten and silver recovery. Tungsten recovery is 85.8% and silver recovery is 58.7%. This will boost the forthcoming mineral resource estimate.
Sancus Lending (LON: LEND) has agreed an extension of the redemption date for preference shares from 23 November 2026 to 11 February 2031. They will no longer be at a fixed interest rate of 15% and instead there will be a floating rate. Some will be redesignated as Euro preference. The preference shares holder will also subscribe for £750,000 of bonds. Sancus Lending reported a 2025 pre-tax profit of £1.2m, including gains of £2.6m on buying back some zero dividend preference shares. The share price increased 37.5% to 1.1p.
River Global (LON: RVRG) plans to sell the asset management business it has built up to fully listed Liontrust Asset Management (LON: LIO). The initial consideration will be £7.6m in Liontrust shares, followed by up to £2.1m shares depending on certain revenues being achieved. The deal will also release capital from the business. The Liontrust shares will be distributed to A share holders. The B shares are unaffected. The remaining interest will be a structured 30% interest in Parmenion, which is a high growth investment platform. Shareholders and the FCA have to approve the deal. The A shares jumped 37% to 4.625p, while the B shares improved 5.88% to 36p after director Christopher Mills 325,000 B shares at 34.7077p. Liontrust shares dipped 2.04% to 240p.
FALLERS
Investors were disappointed with drilling news from Wishbone Gold (LON: WSBN), which is also quoted on Aquis, concerning Red Setter project in Western Australia, which is near to the Telfer mine. The share price slumped 54.2% to 30p.
SkinBioTherapeutics (LON: SBTX) says interim results will be delayed so trading in the shares will be suspended on 1 April. This is because the board investigation is continuing. Cash was £2.44m on 19 March. The share price dived 40.5% to 6.25p, which is just above the recent low.
Sound Energy (LON: SOU) has raised £500,000 at 5p/share and secured a €1.3m term loan facility agreement, which has an interest rate of 205 each 120 days. The loan drawn down and interest is payable by the end of 2026. The Tendrara phase 1 Micro-LNG development has fully tested and commissioned the Tendrara gas gathering system. Commercial gas sales could start in the third quarter because of delays in the delivery of equipment for the plant. A joint venture will develop solar power plants in Morocco. The share price slid 32.3% to 5.25p.
CPPGroup (LON: CPP) says it has been told that it will not receive any of the potential $5m deferred consideration for its former business in India. CPPGroup is considering its options, but if it does not receive any cash it will have to raise funding within 12 months. The share price declined 29.1% to 52.5p.