Ironveld (LON: IRON) says sales of DMS grade magnetite from its Bushveld project to offtake partner Sable Platinum should commence shortly. Production ramp-up from stockpiles is underway and the product meet market requirements. Demand is exceeding expectations. Ironveld is set to shift from a development company to fully operational business. The high purity iron, vanadium and titanium project is on the northern limb of the Bushveld Complex in Limpopo, South Africa. The share price jumped 48.7% to 0.055p.
Executive search firm Norman Broadbent (LON: NBB) revealed at its AGM that second quarter trading is materially ahead of the same period last year. Recent appointments are helping to enhance growth, and the company is moving into the Middle East market. This should ensure a return to profit this year. The £96,000 CBILs loan has been repaid. The share price rebounded 27.4% to 3.95p.
TheWorks.co.uk (LON: WRKS) improved sales and margins in the fourth quarter and guidance has been upgraded. EBITDA for the year to April 2025 has been raised by £1m to £9.5m on flat revenues compared to £6m in the previous year, while the 2025-26 figure is increased to £11m despite the National Insurance headwinds. Net cash has improved to £4m. The share price rose 29.6% to 39.4p.
Checkit (LON: CKT) chief executive Kit Kyte bought 497,925 shares at 14.158p each, taking the total stake to 665,797 shares. The share price improved 6.9% to 15.5p.
FALLERS
Composite kits supplier Velocity Composites (LON: VEL) has been hit by delays to projects and Canaccord Genuity has reduced 2024-25 revenues by 15% to £23m and then means a loss instead of breakeven. This is despite the fact that margins are better than expected. Net cash will fall to £700,000 on that basis. Next year’s pre-tax profit forecast has been cut from £500,000 to £300,000. There have been problems with the ramp up of A350 production and final qualification sign-off of kits in the US has been delayed. The US base will offset any problems with tariffs. The share price slipped 13.6% to 23.5p.
Nativo Resources (LON: NTVO) has appointed an engineering and geological consultancy to audit work completed, estimate mineral resources at Bonanza and Morrocota gold mines and come up with a plan to restart production. Mining could restart in July. Nativo Resources is considering investing $500,000 in its own ore processing unit. The share price fell 10.3% to 0.525p.
Software Circle (LON: SFT) says an operating unit has been the subject of a payment fraud of £426,770. An internal review is being held. The company still has £7.8m in the bank. M&A director Roman Rothenberg and related parties sold 58,596 shares at 29p each. The share price declined 6.78% to 27.5p.
Water leak detection services provider Water Intelligence (LON: WATR) increased first quarter revenues by 4% to $21.3m and the growth rate accelerated in April. The link with StreamLabs that takes in preventative maintenance has enhanced the growth. Pre-tax profit is forecast to improve from $9.1m to $11.2m this year. Management is considering a US listing. The share price dipped 6.39% to 337p.
Ex-dividends
Andrews Sykes (LON: ASY) is paying a final dividend of 14p/share and the share price is unchanged 527.5p.
Burford Capital (LON: BUR) is paying a final dividend of 4.67p/share and the share price slid 27.25p to 970.75p.
Caledonia Mining Corporation (LON: CMCL) is paying a dividend of 14 cents/share and the share price increased 30p to 1265p.
Fintel (LON: FNTL) is paying a final dividend of 2.45p/share and the share price rose 1p to 275p.
Ingenta (LON: ING) is paying a final dividend of 2.6p/share and the share price slipped 4.5p to 68p.
Mincon Group (LON: MCON) is paying a final dividend of 1.05 eurocents/share and the share price is unchanged at 36p.
Midwich Group (LON: MIDW) is paying a final dividend of 7.5p/share and the share price dipped 7p to 206p.
Nexus Infrastructure (LON: NEXS) is paying an interim dividend of 1p/share and the share price declined 2.5p to 160p.
Science Group (LON: SAG) is paying a final dividend of 8p/share and the share price is unchanged at 465p.
Weiss Korea Opportunity Fund (LON: WKOF) is paying a dividend of 4.08p/share and the share price fell 3p to 139p.
Winking Studios (LON: WKS) is paying a final dividend of S$0.02/share and the share price is unchanged at 11.75p.