Tectonic Gold (LON: TTAU) says farm-in partner White Energy has completed stage 1 of its spending commitment and earned a 51% interest in Specimen Hill. A further $1m of spending will earn a further 25%. White Energy can then pay $2m to buy the minority shareholding, although Tectonic Gold will retain a 3% perpetual net smelter royalty. There were no revenues in the six months to December 2024. There was £119,000 in cash at the end of 2024. The share price is one-third higher at 0.2p.
Ormonde Mining (LON: ORM) investee company TRU Precious Metals Corp is going to drill test a pipeline of exploration targets at the Golden Rose project that has been optioned by Eldorado Gold Corporation. The share price increased 10.7% to 0.155p.
Invinity Energy Systems LON: (IES) has reached agreement to proceed with the LODES project, which is a 21MWh VS3 system co-located with a solar array. The total cost of the project is £20m. Planning permission has to be adjusted before the project can commence construction and the project could be completed and operating in the second half of 2026. There should be some revenues recognised in 2025. A loss is still forecast for this year despite a jump in forecast revenues to £35.5m. The share price rose 6.06% to 8.75p.
Ananda Pharma (LON: ANA) has received approval from the Alfed Hospital Human Research Ethics Committee in Australia for its phase 1 pharmacokinetic study of the lead cannabinoid drug candidate MRX1. The first patient should be dosed in the third quarter of 2025. The data can support regulatory filings in other countries. The share price is 5.88% higher at 0.45p.
Jonathan Neame bought 4,000 shares in Shepherd Neame (LON: SHEP) at 490p each. Richard Oldfield acquired 20,800 shares at 485p each and 5,000 shares at 484p each. The share price edged up 4.12% to 505p.
FALLERS
Samarkand (LON: SMK) is asking for shareholder approval to leave Aquis. The ecommerce technology provider has adapted its strategy to focus on its own brands and is less dependent on the Chinese market for growth. The costs of being quoted will be saved. The plan is to leave on 7 May and move to a JP Jenkins matched bargains facility. Even before the announcement, the lack of liquidity meant that the board does not believe the share price reflects the value of the business and it fell a further 82.1% to 0.625p.
ChallengerX has changed its name to Nyce International (LON: NYCE). The share price declined 22.2% to 0.175p.
AIM-quoted drug discovery company ImmuPharma (LON: IMM) has agreed to extend the period of warrants in Aquis-quoted skincare technology developer Incanthera (LON: INC). The 7.27 million warrants are exercisable at 9.5p each and they will be extended until the end of September. ImmuPharma will pay Incanthera a profit share of 30% of the difference between exercise and market prices. Incanthera has agreed to pay creditors £380,000 in shares at 8.5p each. The Incanthera share price dipped 20.9% to 8.5p.
KR1 (LON: KR1) had net assets of 58.2p/share at the end of February 2025. During February there was £462,000 of income generated from digital assets. The share price slid 18.4% to 31p.
Mendell Helium (LON: MDH) says the option to acquire Kansas-based M3 Helium has been extended to the end of June 2025. In principle, there is an offload agreement in principle with Scout Energy for the Rost well. The proceeds of this will fund the Hugoton farm-in agreement fee. The share price is 18.2% lower at 2.25p.
Automotive electrification technology developer Equipmake (LON: EQIP) has secured a £5m cash injection from Caterpillar Inc via convertible loan. This has an annual interest charge of 10% and lasts until the end of March 2029. The conversion price is the lower of 3.125p and 80% of the average trailing 30-day share price. There is also a development agreement for electric drivetrain products. This concludes the strategic review. An agreement with wave energy technology company CorPower Ocean will generate £650,000 for the first phase of the development of a generator and SiC (silicon carbide) inverter system to accelerate the commercialisation of the wave energy equipment. The share price dipped 17.9% to 1.15p.
Marula Mining (LON: MARU) has received the first revenues from sales of copper concentrate from the Kinusi copper mine in Tanzania. The share price decreased 17.1% to 3.625p.
Ride video capture technology provider Visum Technologies (LON: VIS) has extended its contract with the Children’s Day Foundation Linnanmaki in Finland for a further three years. This should generate a total of £100,000 in revenues. In the six months to December 2024, revenues fell from £130,000 to £71,000. The loss was $325,000. The share price declined 16.7% to 0.125p.
EPE Special Opportunities (LON: EO.P) has launched a share buyback programme of up to 2% of the shares in issue. The share price slipped 3.23% to 150p.