Andrada Mining 3.6p £59.5m (ATM.L)
The critical raw materials producer with mining and exploration assets in Namibia has provided results from its inaugural drilling programme undertaken at the historical Brandberg West mine, situated within the EPL5445 exploration licence. The CEO, Anthony Viljoen, found these initial drilling results highly encouraging featuring significant high-grade intersections of tin, tungsten and copper. These intersections, with grades of up to 4% for tin, over 2% for tungsten and typically 0.5% - 2% for copper, are believed to underscore the licence's commercial potential.
Aquis Exchange 385p £89.1m (AQX.L)
The creator and facilitator of next-generation financial markets announced its unaudited results for the six months ended 30 June 2024. Revenues at £10m (+3.5%), EBITDA £1.6m (-6.5%), cash £14.5m (+4.3%). The Company reported strong growth in contract pipeline in their Aquis Technologies division. Market share was up 5.20% in Aquis Markets, Aquis Data had an increase in revenue driven by new data fees for members and Aquis Stock Exchange experienced strong growth in trading, with volumes up 44% on the prior year and £87m of funds raised, against a challenging market backdrop. Current trading is in line with the Board's expectations set out in the August 2024 trading update.
Atlantic Lithium 13.22p £85.9m (ALL.L)
The African-focused lithium exploration and development company targeting to deliver Ghana's first lithium mine has announced that Ghana's Environmental Protection Agency (EPA) has granted an environmental permit in respect of the Company's flagship Ewoyaa Lithium Project. The grant of the EPA permit serves as the EPA's approval for the Company's proposed activities at the Project, as detailed in the Company's Mine and Process Environment Impact Statement, and, therefore, represents an important landmark in the permitting process for the advancement of the Project.
Checkit 20.5p £22.1m (CKT.L)
The automated monitoring platform for operational leaders announces its unaudited half year results for the six months to 31 July 2024. Total Group revenues from continuing operations grew by 16% to £6.7m (H1 FY24: £5.7m). Progress towards profitability remains on track, with adjusted LBITDA from continuing operations improving by 24% to £1.4m (H1 FY24: £1.9m) reflecting a continuing focus on cost management and efficiency. Cash at half-year end was £7.0m (£12.8m at 31 July 2023 and £9.0m at 31 January 2024). The Board remains confident that the Company's cash resources are sufficient to support the path to profitability expected during the year ending 31 January 2027.
EnSilica 51p £50.2m (ENSI.L)
The chip maker of mixed signal ASICs (Application Specific Integrated Circuits) announced that it has been awarded an additional ASIC design and supply contract by Siemens AG. The NRE (non-recurring engineering) component of the contract will commence in calendar year 2025, with the initial production phase expected to start in Q4 2027. Siemens incorporates ASICs in various industrial automation systems, including their programmable logic controllers, motor drives, and other control devices. These specialised chips enhance functionality, reduce power consumption, and improve overall system reliability. The Contract supports current market expectations for this financial year and next.
EQTEC 0.925p £2.4m (EQT.L)
The technology innovator powering distributed, decarbonised, new energy infrastructure through its waste-to-value solutions for hydrogen, biofuels, and energy generation announced the successful outcomes of recent tests for complex feedstock conversion for advanced biofuels such as renewable natural gas, hydrogen or transport fuels such as sustainable aviation fuel. The tests, carried out at the Company's R&D facilities, indicate that EQTEC's patented and proprietary technology for steam-oxygen gasification can successfully and efficiently convert non-recyclable waste including plastics into synthesis gas for advanced applications such as liquid fuels.
Gulf Marine Services 16.65p £178m (GMS.L)
The provider of self-propelled and self-elevating support vessels for the offshore energy sector announced the award of a new long-term contract for one of its vessels. The contract spans a total of five years, inclusive of optional extensions, and contributes to further improvement in fleetwide average day rates. This contract takes their backlog to USD 464m. The Company has revised its adjusted EBITDA guidance for 2024 to be in the range of USD 95m to USD 100m, versus the adjusted EBITDA guidance communicated earlier of USD 92m to USD 100m.
HeiQ 4.89p £8.2m (HEIQ.L)
The textile technology company announces a trading update for its extended financial year ending 30 June 2024. Challenging market conditions continued throughout the period, as pressure on consumer discretionary spending impacted textiles, flooring, antimicrobials and other established revenue lines. Expects to report total revenues of approximately US$62m for the 18-month period (FY 2022 12-month period: US$47m). Losses from operations for the period are expected to be approximately US$18m, reduced from US$29m in FY 2022 (12-months). As of June 30, 2024, the cash balance of the Group was US$4.9m (31 December 2022: US$8.5m). The Board believes the historically low share price restricts the Group's ability to raise additional equity financing at Group level to finance its high-value ventures.
Light Science Technologies 3p £9.7m (LST.L)
The Company involved in the development and manufacturing of Contract electronic boards and lighting and technology products announces a follow-on sports entertainment order. The Company has received an additional order from its customer in the sports entertainment segment, worth £134,250. This is the customer's fourth order since its first in February 2024, taking the total order value to £537,000 and the total number of units to 20,000. The project is anticipated for delivery to the customer across October and November 2024, with revenues recognised during the current financial year. The Group trading remains in line with management expectations, with CEM revenue expected to total £9m-£9.5m for the full year.
Windar Photonics 42p £35m (WPHO.L)
The technology group focused on electricity generating wind turbines today announces its un-audited results for the 6 months ended 30 June 2024. Revenue for the 6 month period of Euro 2.3m represents 71% growth on prior year revenue of Euro 1.3m, which following the April 2024 capital raise, is in line with expectation to achieve targeted full year growth. The loss for the six month period H1 2024 reduced to Euro 0.3m (2023: Euro0.4m) and cash at H1 2024 was Euro 2.8m (H1 2023: Euro 0.3m) after working capital increases of Euro 2.0m directly attributable to high levels of sales shortly before and after half year.
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