Aquis weekly movers: Invinity Energy Systems upgrade

Invinity Energy Systems (LON: IES) says that 2023 revenues will be better than expected because of the order inflow in recent months and delayed contracts. The 2023 forecast was raised from £20.6m to £23.7 in September. The battery storage technology developer will still make a significant loss even with higher revenues. The share price is 13.2% ahead on the week at 43p.

Cadence Minerals (LON: KDNC) has recovered by 10%n to 11.275p following the completion of the pre-feasibility study for the Amapa Iron Ore and an announcement is expected in early 2023. Investee company Evergreen Lithium is awaiting final regulatory approval to join the ASX.  

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Oberon Investments Group (LON: OBE) reported a decline in interim revenues from £3.45m to £2.64m. Corporate broking revenues fell by one-third to £1.03m, although the number of clients increased from 15 to 22. Funds under management rose above £1bn, although investment management revenues also declined. The group moved from profit to a £1.7m loss as additional staff were taken on in corporate broking and investment management. There was net cash of £2.3m at the end of September 2022. The launch of an EIS fund and other new products should boost longer-term revenues. The share price has risen 6.06% to 3.5p.



Looking Glass Labs Ltd (LON: NFTX), which operates Web3 platforms for immersive metaverse environments and blockchain, has progressed with the development of its Pocket Dimension metaverse offering. Carl Chow has stepped down from the board and Lucas Russell has replaced him. The share price fell 7.41% to 12.5p.

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Tectonic Gold (LON: TTAU) reported an increased loss of £311,000 in the year to June 2022, while there was a £270,000 cash outflow from operating activities. There was £403,000 in the bank at the end of June 2022, with net cash of £232,000. The share price declined by 3.33% to 0.725p.

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