Tan Delta Systems (LON: TAND) is starting a paid phase 2 trial by one of the world’s largest online retailers to evaluate the company’s real-time oil condition analysis and monitoring systems. This is to monitor gearboxes on conveyor systems at distribution centres. Phase 1 proved the capability on five gearboxes at one distribution hub. The customer has tens of thousands of critical gearboxes across its sites. Tan Delta Systems had £2m in cash at the end of June 2025 after a £1m cash outflow in the previous six months. The share price jumped by three-fifths to 40p.
Digital media company Catenai (LON: CTAI) has repaid a £100,000 working capital loan and 33.3 million warrants exercisable at 0.3p each were issued to the group of lenders. The share price recovered 47.3% to 0.545p.
Asiamet Resources (LON: ARS) is selling its interest in the KSK copper project to Norin Mining for gross cash of $105m on a debt free basis. This is dependent on shareholder approval. Most of the proceeds ae likely to be distributed to shareholders. The share price improved 41.7% to 1.7p.
Mobile water and environmental testing technology provider Metir (LON: MET) continues in its collaboration with Swansea University to develop methods for detecting PFAS chemical contamination in water and soil. The research has “demonstrated the feasibility of integrating portable liquid chromatography-mass spectrometry (LCMS) with innovative low-waste extraction materials”. This enables a ‘Lab in a Van’ system that can be deployed in the field. This will reduce turnaround time. Metir’s US instrumentation partner is optimising and scaling up the detector for commercial purposes. Metir is talking to local authorities and industry bodies. The share price gained 27.6% to 0.925p.
FALLERS
RentGuarantor Holdings (LON: RGG) is raising £2.5m at 12.5p/share. The cash will be used to grow awareness of the company and its rent guarantee service. The company will also further develop its network of partners, and the cash will fund further growth. RentGuarantor founder and chief executive is selling 2.18 million shares at the placing price. This could help liquidity. The share price slumped 44.6% to 12.75p.
Buccaneer Energy (LON: BUCE) has raised £500,000 at 0.017p/share to fund its share of a Bitcoin mining operation in the Fouke area. This will use gas flared from the nearby wells in the Pine Mills field. The Allar #1 well, where it has a 32.5% working interest, has been spudded. This will take two eeks to drill. The share price fell 39.6% to 0.0145p.
Ethernity Networks (LON: ENE) is raising £160,000 via a placing at 0.02249p/share and £182,500 from a convertible loan note. The company is in talks with partners to develop an ASIC product for wireless backhaul and broadband markets. The cash will pay creditors and provide working capital. More cash will be required within one year. The share price slipped 31.8% to 0.0075p.
Union Jack Oil (LON: UJO) has a 53% interest in the Sark well in Oklahoma and a production test failed to identify commercial hydrocarbons. The share price dipped 25.3% to 3.1p.