Aquis weekly movers: Marula Mining increases Kinusi stake

Marula Mining (LON: MARU) has increased its stake in the Kinusi copper project in Tanzania from 49% to 75% for up to $550.000. The initial payment is $150,000 in cash and shares. There is high-grade copper mineralisation at the project.   

Trading in Pioneer Media Holdings Inc (LON: PNER) will end on the Aquis Stock Exchange on 9 March, but the share price recovered this week, having fallen by two-fifths to 7.5p during the previous week. Trading will continue on the NEO Exchange in Canada.

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Shore has upgraded its forecasts for Arbuthnot Banking Group (LON: ARBB) with 2022 earnings increased by 11%. This reflects the benefits of higher interest rates with deposit rates lagging base rates. The 2022 pre-tax profit forecast is £29.5m and the 2023 forecast has been increased £28.5m to £40m. Estimated tangible NAV is 1194p a share.

Guanajuato Silver Company Ltd (LON: GSVR) announced drilling results from the San Ignacio mine. There are some high-grade silver intersections plus gold. A new area of thick mineralisation may have been found. This should lead to a significant increase in resources.  



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Samarkand (LON: SMK) has benefitted from the easing of Covid restrictions in China. Although there was a short-term rise in infections, consumer confidence is improving since Chinese New Year. The Chinese government is keen to boost consumption. Partner brands using the company’s Nomad software platform are planning for growth this year and more premium beauty brands have been added to the platform. Samarkand could be profitable in the next financial year. The share price still fell 16.7% to 37.5p.

Invinity Energy Systems (LON: IES) raised £21.5m at 32p a share with up for £4m more to come from a two-for-19 open offer. Taiwan-based Everbrite Technology is investing £2.5m in the placing. The cash will be used for working capital, which is expected to last until the middle of 2024. At that time the next generation Mistral grid scale vanadium battery will be ready for launch. The company will not need to draw down the $10m convertible loan facility. The share price dipped 15.6% to 32.5p.

National Milk Records (LON: NMRP) increased interim revenues by 5% to £12m, while pre-tax profit improved from £750,000 to £790,000. A tax credit meant that earnings increased by a higher percentage. Net debt is £900,000. The main growth was in the core milk testing services, although genomics revenues rose from £173,000 to £336,000. Price increases will help margins in the second half. Full year pre-tax profit is expected to decline from £2.4m to £1.9m. Managing director Andy Warne is taking leave due to illness and the finance director is assuming operational control.

There are problems with the acquisition of a 19.8% stake in skincare products supplier Lush by Silverwood Brands (LON: SLWD) because Lush is refusing to register the change of ownership of the shares. Silverwood Brands is paying £216.8m for the stake and no reason was given for the refusal to record the transfer of the shares.  

TruSpine Technologies (LON: TSP) still hopes to receive the proposed bridge loan facility and share subscription by 1 March.

Telecoms services provider Global Connectivity (LON: GCON) is seeking further technology opportunities following the dilution of its stake in Rural Broadband Solutions to 15%. Any investment will be in a different area of the communications sector.

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