Voyager Life (LON: VOY) has entered into an option to acquire M3 Helium Corp, which is a Kansas-based helium producer, for 57.6 million shares. Production is from one well and four other wells are being tested. There is also a processing plant. Voyager Life has raised £864,000 at 3p/share to finance the development of operations and fund the readmission document. M3 Helium is loss-making. The share price jumped 36.8% to 3.25p.
Ananda Developments (LON: ANA) announced promising results from cardiac fibrosis studies with CBD-based therapy MRX1. It has potential as a treatment for heart failure with preserved ejection fraction. It mitigates cardiac fibrosis and improves heart health. Next steps are being assessed. The share price improved 22.2% to 0.55p.
Tennyson Securities has published initial research on Good Life Plus (LON: GDLF) the prize-based draw lottery. Investment in the business means that it will continue to lose money for the next two years before moving into profit in 2026-27 when earnings of 0.7p/share are forecast. The 12-month target price is 4.24p/share. The share price increased 20.7% to 1.75p.
Time to ACT (LON: TTA) subsidiary GreenSpur has received an award of £613,000 from the EU BEETHOVEN project for the development of advanced magnetic materials. This will be used for development of the rare earth-free magnet. The share price rose 13.6% to 62.5p.
Valereum (LON: VLRM) reported a reduction in loss from £4.25m to £353,000. There was a swing from net liabilities of £758,000 to net assets of £351,000 following an increase in the value of the investment in Vinanz (LON: BTC). That was partly offset by an impairment charge on the GSX investment. The Valereum share price is 4.41% to 3.55p.
Brewer Adnams (LON: ADB) expects to conclude its evaluation of future funding later in the summer. The share price rose 2.38% to 2150p.
FALLERS
Startup Giants (LON: SUG) shares fell 95.9% to 3p prior to the ending of trading on 27 June.
Housebuilder St Mark Homes (LON: SMAP) reported an increase in loss from £1.47m to £2.93m. Directors are halving their remuneration from the beginning of July. Because of the weakened financial position the board will ask shareholders at the AGM to agree to the departure from the Aquis Stock Exchange. The share price slumped 55% to 22.5p.
Food company Essentially Group (LON: ESSN) lost £960,000 on revenues of £1.59m in the 16 months to the end of 2023. There was £301,000 in the bank at the end of the year. The share price is one-fifth lower at 34p.
Ormonde Mining (LON: ORM) had net assets of €10.5m at the end of 2023, including €2.3m in cash. Management is evaluating investment opportunities. The share price declined 11.1% to 0.2p.
Wishbone Gold (LON: WSBN) reported an increase in cash outflow from operations from £787,000 to £1.62m. Cash fell below £6,000 at the end of 2023. A share issue at 1.2p/share and exercise of warrants raised £550,000 this year. The share price slipped 9.09% to 1p.
Phoenix Digital Assets (LON: PNIX) made a pre-tax profit of £20.1m in 2023 following a fair value gain of £25.3m. This is prior to the recent tender offer. The share price fell 7.59% to 3.65p.
Marula Mining (LON: MARU) believes that the Blesburg lithium and tantalum mine will generate positive cash flow in the second half of 2024. The company has confirmed delivery of manganese ore from the Larisoro manganese mine and they will increase in the second half. The share price dipped 6.35% to 7.375p.
SuperSeed Capital (LON: WWW) has issued 100,000 investor warrants exercisable at 120p/share to VSA Capital. The convertible loan notes will be redeemable on 21 June 2026 instead of September 2024. The share price slid 3.13% to 77.5p.
Invinity Energy Systems (LON: IES) increased revenues from £2.94m to £22m in 2023. The loss rose from £18.5m to £23.2m. The share price slipped 2.5% to 19.5p.
KR1 (LON: KR1) had net assets of 106.3p/share at the end of May 2024. The share price fell 1.47% to 67p.
