Tap Global (LON: TAP) continues to rise following the previous week’s completion of its reversal into Quetzal Capital last week. There was £3.1m raised at 4.5p at the same time, even though the market price had not been that high since May last year. Chief executive David Carr acquired 190,000 shares at 4.1p each and finance director Anthony Quirke bought 135,135 shares at 4.4p each. The share price ended the week up 11.4% to 4.9p.
Quantum Exponential (LON: QBIT) had £2.48m in cash out of net assets of £4.85m at the end of October 2022. There was a cash outflow of £313,000 in the previous six months. The share price increased by 7.14% to 1.5p.
Oberon Investments Group (LON: OBE) is acquiring 63% of Logic Investments Ltd, which provides back office services to investment managers. Logic has funds under management and administration of more than £275m and Oberon Investments will merge its own back office operations with Logic. A placing raised £1.75m at 3.5p a share. Chairman Alex Hambro subscribed for 1.14 million of the shares, taking his stake to 1.64 million shares. The cash will be used to accelerate growth. The share price rose 4.62% to 3.4p.
Guanajuato Silver Company Ltd (LON: GSVR) has restarted processing at the Cata mill at the Valenciana mine. The initial processing rate is around 8,000 tonnes/month. The share price edged up 1.92% to 26.5p.
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Fallers
Healthy snacks supplier S-Ventures (LON: SVEN) says full year revenues were £8.7m, but the inability to obtain ingredients hampered sales income. The operating loss is £2.6m. The revenues were one-fifth down on initial expectations for the year to September 2022. Supply problems have eased, and price rises have helped to offset higher costs. The share price slumped 30.9% to 11.4p.
Marula Mining (LON: MARU) has appointed Geofields Tanzania to commence copper exploration at the Kinusi copper project, where Marula Mining owns a 49% interest, and £80,000 has been raised from a warrant exercise. Initial exploration results should be published in the second quarter of 2023. The share price fell 16.5% to 5.8p.
Hydrogen Future Industries (LON: HFI) is investing in hydrogen production facilities developer Tower Green. It has spent £100,000 in cash and shares on a 20% stake and has the right to invest a further £50,000 for another 10% stake. Tower has an agreement with Element 2 to supply hydrogen fuel to fleet operators. Hydrogen Future Industries has developed wind-based hydrogen production systems. The share price slipped 3.77% to 6.375p.