AIM movers: SRT Marine confirms contract and genedrive test is better than laboratory equivalent
Peel Hunt has a 10.1% stake in Nostra Terra Oil & Gas (LON: NTOG). The share price recovered 16.7% to 0.0245p.
Spreadex Ltd has a 4.94% shareholding, via voting rights through financial instruments, in Tiger Royalties and Investments (LON: TIR). The share price rose 11.4% to 0.195p.
Point of care pharmacogenetic testing company genedrive (LON: GDR) says that the clinical performance of its CYP2C19-ID Kit has been published in the Journal of Molecular Biology. The results for people in an acute emergency care setting were quicker, more accurate and had a lower test fail rate than those handled in a laboratory. The test identified seven people that were not identified by the laboratory because it targets more variants. The share price increased 3.3% to 2.35p.
FALLERS
Following the announcement that retailer Quiz (LON: QUIZ) intends to ditch its AIM quotation, Amraj Gill’s stake has risen from 8.17% to 10.1% and Tajveer Gill’s stake has increased from 8.1% to 10.3%. The share price fell a further 8.62% to 0.875p.
Prior to Christmas, Bezant Resources (LON: BZT) raised £560,000 at 0.24p/share to fund development of the Hope and Gorob copper and gold mines in Namibia. The indicated resources are 10mt @ 1.89% copper and 0.31 g/t gold. The main target is more than 3mt @ >1.8% copper, which is an open pit resource. The share price declined 8.51% to 0.0215p.
Premier African Minerals (LON: PREM) announced an amended offtake and prepayment agreement with Canmax Technologies for the Zulu lithium and tantalum project after trading ended on Christmas Eve. The settlement options for Canmax Technologies have been adjusted in respect of prepayment amounts that are outstanding on 1 April 2025. If Premier African Minerals does not deliver the required product of provide cash settlement, Canmax Technologies is entitled to a direct stake in Zulu lithium at a valuation of $100m. The alternative is settlement in Premier African Minerals shares. The share price slipped 8.41% to 0.049p.
Maritime surveillance systems developer and installer SRT Marine (LON: SRT) has signed the $9m Middle East coast guard contract and implementation has commenced. The is a ten-year contract for an upgrade to a 2016 installation. There should be $7m of revenues recognised in the year to June 2025 and the following year combined. There could be further upside from the contract. This contract adds to the $213m Kuwait coast guard contract, where implementation has also begun. Two other contracts totalling around $250m are near to signing and could start their implementations before June 2025. Management says that 2025-26 should be “significantly profitable”, but Cavendish has yet to reinstate forecasts. The share price is down 1.19% at 41.5p
Positive arbitration news for Zenith Energy
Oil and gas company Zenith Energy (LON: ZEN) shares soared 39.7% to 4.75p on the back of an ICSID arbitration decision against the Republic of Tunisia. The share price was above 5.5p at one point.
The Arbitral Tribunal of the International Centre for Settlement of Investment Disputes (ICSID) held an arbitration in Washington DC and rejected Tunisia’s objection to jurisdiction. It also told the claimants (three subsidiaries of Zenith Energy) and respondent to agree on a shorter procedural timetable and tell the tribunal by 20 January.
The dispute is over Tunisia’s failure to comply with the terms of an investment treaty with the UK. The total principal claim is for $503m, but with interest and costs this could rise to $640m. The final decision on any award should be made by the summer of 2025.
Methane-chasing Mirico sweeps past £0.5M crowdfunding target on the way to global growth
Methane seems innocent enough; it is a colourless, odourless gas used globally as an important energy source. However, when leaked into the atmosphere – typically from industrial facilities – it causes untold damage. Methane is a potent greenhouse gas responsible for one third of global warming.
It’s a massive, hidden problem.
Mirico is an innovative UK technology company that hunts down methane. Finding and fixing leaks is now big business, and the company uses its proprietary laser sensors and analytics technology to pinpoint problem areas.
Customers can therefore conduct targeted repairs, and access lucrative new markets for low emission fuels. Methane reduction can become the fast and effective route for industry to hit its sustainability goals.
Click here to visit Mirico’s website for more information on the company and its mission.
A wave of new regulation is putting pressure on industry to clean its act up – and do it quickly. For example, new US legislation aims to reduce methane leaks from oil & gas by 80% over the next 10-15 years. This requires billions of dollars of investment by industry players, representing a major opportunity for Mirico.
In fact, the total addressable market is estimated at $15 billion by Bloomberg NEF.
Mirico’s technology finds leaks that others miss. Competitors include satellites, drones and even handheld gas cameras but these are snapshot surveys that overlook many of the large but short-lived leak events that dog the industry.
Recent progress has been strong. Mirico has deployed over 20 projects to date across 5 continents and the pipeline is accelerating. Shell has recently demonstrated interest, with the energy giant investing via its Ventures arm and testing Mirico’s technology at its facilities. Mirico also recently onboarded another significant energy operator as both investor and customer and will be announcing that deal soon.
With growth in mind, the company launched a raise on Crowdcube enabling private investors to participate alongside the existing VCs. The new funding will be used to accelerate sales efforts, deliver on projects, secure additional international pilots and refine the digital platform. The target of £0.5M was reached in just a few days, but the opportunity will remain open for a further short period into January 2025.
Investment risk warning: Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more.
From landowner to investor: a Pearcroft success story
When Rick received a letter about his plot of land in 2023, he had no idea it would lead to a longer-term investment partnership. But that’s exactly what happened after he experienced our efficient, straightforward approach. One land deal and two sustainable properties later, Rick is a fully subscribed member of the Pearcroft investor fan club.
Getting off to a good start
Rick owned the land for Sunderland Avenue and had planning permission. We recognised the potential and approached him with a fair price and attractive offer to handle all the work for him.
Rick explains “I checked their website first and was impressed by their market positioning. After the initial chats, what stood out was how approachable Kevin was and how quickly they made decisions.”
For many landowners, selling and developing a plot can be a drawn-out process, including lots of people and filled with uncertainty. Rick’s experience with Pearcroft was different. “They made a reasonable offer and moved fast to close the deal. Everything was straightforward and efficient – they did exactly what they said they would.”
Exceeding Expectations
From our initial contact with Rick, we were on-site demolishing the previous property within two months and we completed the build in seven months.
With our sustainable focus, we upgraded the design to include air source heat pumps, MVHR, solar panels, batteries, EV charging points and instant hot water throughout the houses to target net zero energy emissions. This was one of the first properties where we introduced our 5-year zero bills promise too.
“Pearcroft didn’t just build what was planned – they improved it,” Rick explains. “They enhanced the design significantly. The front elevation looks much more attractive than the original design, and the sustainable features and internal finishes add real value for potential buyers.”
From Land Sale to Investment Partner
So, why did Rick become an investor? Apart from appreciating the potential with numbers, Rick appreciated our capabilities and scale of ambition. On our regular project catch ups, we happened to mention another site we’d found, and it piqued Rick’s interest. He considered other investment opportunities, including buying a house with renovation potential, but he decided to partner with us on our Maidenhead development. Quite simply Rick said, “the numbers made sense, and I could see the potential.” And it’ll be much easier leaving the heavy lifting to our expert team instead of getting his own hands dirty.
The Pearcroft Difference
“I’m very happy with my relationship with Pearcroft. They don’t waste any time, make everything easy. Everything is focused on delivering quality sustainable homes, efficiently.”
This commitment to sustainability and our efficient and personable approach made the real difference to Rick. Plus, it makes us an attractive partner for other investors looking for hands-off property development opportunities.
- Strong returns on investment.
- Minimal time and effort required.
- Clear, realistic timeline for completion and returns.
Rick’s journey from landowner to investor shows how we build lasting partnerships. Kevin says, “it’s great working with Rick. We appreciate him and really like doing business with him, so we’re thrilled he’s now reinvesting with us.” By being honest, efficient and having an unwavering focus on quality, we create opportunities that work for everyone – landowners, investors, homebuyers, and the environment.
Invest with Pearcroft
Email or give Martyn a call on +442070888196 to find out how you can profit from property while making sustainable history.
Premier African Minerals revises offtake agreement
At the end of trading on Christmas Eve, Premier African Minerals (LON: PREM) announced an amended offtake and prepayment agreement with Canmax Technologies for the Zulu lithium and tantalum project. It could result in Canmax taking a stake in Zulu lithium.
The settlement options for Canmax Technologies have been adjusted in respect of prepayment amounts that are outstanding on 1 April 2025. If Premier African Minerals does not deliver the required product of provide cash settlement, Canmax Technologies is entitled to a direct stake in Zulu lithium at a valuation of $100m. The alternative is settlement in Premier African Minerals shares.
The security over shares in Zulu Lithium has been extended because of the delay to production. Canmax Technologies owns 13.4% of Premier African Minerals and it has the right to take interest payments in shares.
Vistry slumps on third profit warning
Housebuilder Vistry (LON: VTY) is the worst performing FTSE 250 company on Christmas Eve following a downgrading of profit expectations. The share price slumped 16.1% to 548.5p. This is the third profit warning in recent months.
The latest says that 2024 pre-tax profit will be £250m and not £300m as previously guided due to delays in transactions and completions. Vistry has decided not to go ahead with some transactions.
Less than three months ago the guidance was £430m. These downgrades led to Vistry dropping out of the FTSE 100 index.
Strong recent cash generation means that net debt will be around £200m at the end of 2024. There will be a further trading update on 15 January.
Logistics Development Group distribution and ex-dividends
Windward (LON: WNWD) is recommending a 215p/share bid from an acquisition company formed by FTV VIII. The offer values the marine tracking technology company at £216m. The bidder wants to gain greater exposure to the maritime compliance market and believes it can help to accelerate growth. The management team will be retained. Windward joined AIM on 6 December at 155p/share. That was at a time when AIM was just below its recent high. The share price jumped 42.5% to 208p.
Logistics Development Group (LON: LDG) says Nash Squared has sold its NashTech division, which means that the AIM company’s investment of £10m has been redeemed for £13.1m. Logistics Development Group has £44m in cash. A distribution of 19p/share is planned. The plan is to distribute 50% of any further realisations and NAV will be published every quarter. The share price increased 29.8% to 13.5p.
Ascent Resources (LON: AST) chief executive Andrew Dennan has purchased 550,000 shares at 1.9p each, following the sale of 2.17 million shares at 2.2023p each by C4 Energy, where he owns 25%. The share price improved 16.7% to 2.1p.
Digital mental health company Kooth (LON: KOO) has won a pilot contract in New Jersey and launched a share buyback programme of up to £1.5m to cover share-based rewards. The New Jersey contract is worth $1.45m in the pilot year. It covers 50,000 students between 13 and 18 years old. There are talks for a second US pilot. The share price rose 10.8% to 180p, which is still two-fifths lower since the end of 2023.
FALLERS
Kibo Energy (LON: KIBO) shares returned from suspension following publication of interims and declined 12.5% to 0.0105p. The figures pre-date the disposal of operating business Kibo Cyprus. Kibo Energy is now a shell seeking operations in renewable energy.
Mosman Oil & Gas (LON: MSMN) says drilling at the 20%-owned Vecta helium project will not start until next year because it has failed to secure a drill rig. Progress is being made with permit at EP-145, where Mosman Oil & Gas is the operator. The share price slipped 6.67% to 0.028p.
Investment company Mindflair (LON: MFAI) is raising £490,000 at 0.6p/share. The terms of the £1.235m of loan notes have been changed. There will be £185,000 of loan notes redeemed to reduce the principal and further principal and interest costs of £469,000 will be converted into 78.2 million shares at 0.6p each. The rest of loan notes and interest will be repaid in two tranches at the end of 2025 and 2026. The exercise of the associated warrants has been reduced from 4p to 1.6p. Sure Valley Ventures fund, SVV1, is in a realisation phase. The share price is 7.41% to 0.625p.
Ex-dividends
Aeorema Communications (LON: AEO) is paying a dividend of 3p/share and the share price fell 3.5p to 57.5p.
Duke Capital (LON: DUKE) is paying a dividend of 0.7p/share and the share price is unchanged at 30p.
Focusrite (LON: TUNE) is paying a final dividend of 4.5p/share and the share price is unchanged at 255p.
Netcall (LON: NET) is paying a final dividend of 0.89p/share and the share price is 1.5p higher at 103p.
Real Estate Investors (LON: RLE) is paying a dividend of 0.5p/share and the share price is unchanged at 29.5p.
Tavistock Investments (LON: TAVI) is paying a final dividend of 0.09p/share and the share price is unchanged at 4.25p.