Home » Posts tagged 'BZT'
Tag Archives: BZT
Quoted Micro 5 January 2026
AQUIS STOCK EXCHANGE
Energy efficient technology developer Time to ACT (TTA) was held back by volatility of orders. In the six months to September 2025, revenues fell from £1.67m to £732,000, while the loss increased from £184,000 to £698,000. There are more than £4m of Large Parts contacts ready to be closed. In November 2025, Diffusion Alloys sold surplus coating compound of £540,000 and a further £472,000 is expected before the end of March 2026. This will make up for some of the shortfall in the first half.
Energy storage technology provider Invinity Energy Systems (LON: IES) has announced four agreements in the past seven working days, including two to supply 20MWh of vanadium flow battery system to a Hungarian client. The cost of production of the equipment continues to be reduced. The 2025 revenues should be £17m and there is an order book also worth £17m, although the timing of £9m of this is uncommitted.
Emissions reduction additives supplier Sulnox Group (SNOX) reported increased interim revenues of £1.2m, up from £440,000, while the loss was reduced from £4.2m to £3.7m. Cash was £1.36m at the end of September 2025. Momentum continues in the second half.
VSA Capital (VSA) reported flat interim revenues of £1.76m with higher overheads leading to a decline in profit from £298,000 to £131,000. VSA Capital says that the underlying pe-tax profit was £378,000. Cash inflow from operating activities increased from £389,000 to £673,000. There should be progress with the Drakewood Capital Management partnership in the coming year.
On the 30 December 2025, Hot Rocks Investments (HRIP) valued its stake in Nasdaq quoted WeShop at $51.2m. Prior to that, at the end of September 2025, NAV was £1.28m.
Residential developer Zentra Group (ZNT) revenues fell 45% to £8.06m and the loss declined from £3.56m to £1.71m. Four subsidiaries were sold for a gain of £1.41m. Overheads are being reduced. The focus is changing focus to larger projects and development management opportunities.
HRC World (HRC) is focusing on phase 1 of the data centre facilities in Subang Jaya, Kuala Lumpur. In the six months to September 2025, revenues dipped rom £436,000 to £357,000 and the loss increased from £52,000 to £256,000.
Personal care products contract manufacturer Amirose London Holdings (ALH) increased interim revenues from £5.13m to £7.19m, while the loss rose from £243,000 to £552,000, although that includes £331,000 of acquisition and flotation costs.
Art products maker Crushmetric Group (CUSH) generated revenues of HK$2.1m in the six months to September 2025. The loss increased from HK$3.7m to HK$6.12m.
TSP Advanced Technologies (TSP) is yet to generate revenues, and the interim loss was slightly down at £335,000, compared with £410,000. The medical device developer formerly known as TruSpine Technologies says long-term funding is required.
Southwest England-focused tin and copper explorer Tamar Minerals (TMR) plans to take advantage of the processing capacity being put in place by other miners in the region. There are options over two projects that were producing in the 19th century. There was £255,000 in cash at the end of June 2025.
Cell therapy treatments developer Cardiogeni (CGNI) expects to complete a £19m non-dilutive licence funding agreement in January. There were no interim revenues and the loss was £533,000. Cash was £149,000 at the end of September 2025. Regulatory filings should be submitted for a phase IIb/3 study in the Gulf states for CLXR-001, a heart regeneration medicine for the treatment of heart failure that is administered during coronary artery bypass surgery.
B HODL (HODL) has made an initial drawdown of £70,000 from its Bitcoin-backed loan. One Bitcoin was bought for £65,809. The total holding is 158.211 Bitcoin.
Shareholders voted in favour of Amazing AI (AAI) leaving Aquis on 7 January 2026.
Silverwood Brands (SLWD) has not published its accounts for the 18 months to June 2025 and trading in the shares was suspended on 2 January.
Nicholas Baxter increased hi holding in Vault Ventures (VULT) from 4.14% to 7.73%. Yorkshire AI Labs reduced its stake in IntelliAM AI (INT) from 15.4% to 13.7%. EDX Medical (EDX) founder and chief scientific officer Sir Christopher Evans bought 57,304 shares at 11.49p each. He owns 35.2% of the diagnostics company. Adnams (ADB) chief executive Jennifer Hanlon acquired an initial 1,051 B shares at £19 each and finance director David Driscoll bought 166 A shares at 500p each. Nicolas Baxter has increased his stake in Vault Ventures (VULT) from 4.14% to 7.73%.
Falconedge (EDGE) has appointed Fortified Securities and SI Capital as joint brokers.
AIM
Public Policy Holding Company Inc (PPHC) is taking on a professional with a client portfolio. There will be a payment of up to $1m depending on performance. The initial $400,000 was paid in shares.
e-commerce payment services provider Mobility One (MBO) has received conditional approval to carry on Islamic digital banking in Labuan in Malaysia. The business will be called MBO Bank (Labuan). No revenues are expected in 2026. Potential partners and investors will be explored.
Galantas Gold (GAL) has completed the acquisition of RDL Mining owner of the Indiana gold copper mine in Chile and closed a placing raising $14.9m at $0.08/unit (one share and one warrant exercisable at C$0.12). The updated mineral resource estimate shows inferred gold of 355,516 ounces and 64,690t of copper. Ocean Partners has been issued 7.81 million shares to satisfy a debt of $625,000.
Shareholders in Synergia Energy (SYN) agreed to the sale of its 50% stake in the Cambay PSC for $14m but did not agree to leave AIM. This sale requires India government approval. Synergia Energy will still return cash to shareholders via a share buyback. The focus will be the UK Medway Hub Camelot CCS project and finding a new partner. Additional oil and gas opportunities will be sought in India.
Healthy snacks supplier Tooru (TOO) has been adding new retailers of its brands. Sales of gluten-free brand OAF are building. Manufacturing of brands is being streamlined, and snack bar company Pulsin is currently using a contract manufacturer. However, there has been short-term disruption to sales. A refinancing has increased the bank facility to £3.9m, which lasts until 2030. Tooru says agency business Market Rocket is non-core, and it may be sold.
Jarvis Securities (JIM) has appointed S&W Partners to help with the wind down of the company. There is currently cash of £10.4m. Two more payments of £1m each are due for the sale of the broking clients. There are obligations to redress certain clients because of sharing commission with an introducer and misleading language in client terms. The estimated cost is £2.8m, but it could be more.
Westminster Group (WSG) did not publish annual accounts by the end of 2025 and trading in the shares was suspended on 2 January 2026. A strategic investor is interested in making a significant investment and collaborate on opportunities. Project financing is being negotiated.
Trellus Health (TRLS), which has developed digital technology to manage chronic conditions, plans to issue up to £5m of secured convertible loan notes to an institutional shareholder. This will be a facility lasting 12 months with multiple tranches that will come with warrants. This enhances the cash position and the first tranche of £737,500 should last for the first quarter of 2026. Average monthly cash burn has been reduced to $400,000. A general meeting will be held on 20 January. The company previously secured a $600,000 convertible loan from 25% shareholder Icahn School of Medicine at Mount Sinai.
Eurasia Mining (EUA) has agreed to sell West Kytlim mining operations. The loss-making operations are at risk of nationalisation by the Russian government. After taxes and other costs $9m should be received, even though the assets are valued at $251m. The remaining Arctic assets represent 99.7% of reserves and resources.
Heart-health functional food ingredients supplier Provexis (PXS) interim revenues slumped from £785,000 to £364,000 due to a decline in Fruitflow II SD from £725,000 to £302,000. That was due to a delay in receiving additional inventory. Several hundred thousand pounds of sales and orders have been received since September. The underlying interim operating loss rose from £98,000 to £155,000. Cash was £523,000 at the end of September 2025
Tap Global Group (TAP) increased revenues 31% to £3.48m and received £420,000 relating to recovery of historical referable bonuses paid in Bitcoin. The goodwill write down was reduced from £15.9m to £4.7m, which meant that the overall loss was reduced from £18.2m to £5.7m. There is £1.29m of goodwill left in the balance sheet. The cash outflow from operations was £184,000. The digital finance hub operator is focused on scaling up its business. Finance director Steven Borg is stepping down and being replaced by Andrew Milmine.
Executive chairman Colin Bird Bezant Resources (BZT) bought 30 million shares at 0.0745p each.
MAIN MARKET
Consultancy daVictus (DVT) has released its interims to June 2025 and this ended the trading suspension of the shares. Cash was £12,000 at the end of June 2025.
Critical Mineral Resources (CMR) confirm shallow copper mineralisation at Zone 2 North at Agadir Melloul in Morocco. This is suitable for open pit mining. There will be further drilling results in January and February.
KR1 (KR1) generated income of £211,000 from digital assets during November 2025. NAV was 32.8p/share, down from 41.5p/share at the end of October 2025.
Andrew Hore
Quoted Micro 13 October 2025
AQUIS STOCK EXCHANGE
Music management and services provider All Things Considered (ATC) is paying an initial $520,000 for certain assets of Control Industry Inc, which owns a merchandise management business. Client relationships include Diana Ross and Billy Joel. The total payment could be $760,000 depending on revenues over the coming nine months. This business fits with the existing Sandbag subsidiary and its boss will take over sales and marketing in the US for the group.
Cooks Coffee Company (COOK) has completed a partnership agreement with Tesco in Ireland. Five Esquires stores will be opened in Tesco stores by the end of November.
Valereum (VLRM) raised £600,000 at 5p/share. Chairman James Bannon and chief executive Gary Cottle contributed £225,000 each and they will each receive 2.5 million warrants exercisable at 50p each and 2.5 million warrants exercisable at 100p each. Tokenisation marketplace VLRM Markets has generated $135,000 in revenues in four months to September 2025. The share price jumped 86.3% to 4.75p.
Ananda Developments (ANA) has achieved a key milestone with the final participant receiving the final MRX1 dose in the pharmacokinetic. Final readouts will be in the first quarter of 2026.
Shepherd Neame (SHEP) executive director Jonathan Neame has bought 4,000 shares at 520p each.
Igraine (KING) has reduced its stake in Oscillate (MUSH) from 5.05% to less than 3%.
Global Connectivity (GCON) has raised £200,000 at 1.5p/share.
B HODL (HODL) has taken its Bitcoin holding to 136 at a total cost of £11.5m.
The Smarter Web Company (SWC) has raised £2.56m at 102p/share via subscription and £9.68m from a placing at 100p/share.
Hydrogen Future Industries (HFI) has raised £401,000 at 1p/share and settled £172,000 of creditors through a share issue.
Wishbone Gold (WSBN) has expanded the drilling programme at the Red Setter Gold Dome project.
WH Ireland (WHI) shareholders have voted against the sale of its wealth management division to Oberon Investments (OBE). The two companies are assessing options.
Diagnostics firm EDX Medical (EDX) has started marketing of the TC100 testicular cancer testing service. The blood test has shown 100% efficacy.
Stelios Panikos Michaelides has a 4.03% stake in Nyce International (NYCE).
ASSET MATCH
Tottenham Hotspur (TTNM) has received a £100m cash injection from majority shareholder ENIC.
AIM
HSS Hire (HSS) digital marketplace subsidiary ProService has agreed a five-year commercial hire and services supply deal with fully listed Speedy Hire (SDY). The deal is estimated to be worth at least £50m/year in revenues for Speedy Hire and improve HSS revenues and margins. Three HSS service centres and other assets will be transferred to Speedy Hire, which is taking a 9.99% stake in HSS Hire. Speedy Hire is paying a total of £35m. HSS is selling HSS Service Group, which will continue to supply power access equipment to HSS to Project Mansell Newco for £1, although HSS will contribute £26m to facilitate the separation. This means that HSS will purely be a digital business.
Fishing tackle retailer Angling Direct (ANG) increased revenues 17% to £53.6m with most of the growth in the UK. Like-for-like UK sales were 14% ahead. The average basket size has fallen slightly. MyAD has 496,000 members. The focus in Europe has been profitable sales, and the loss was reduced. Pre-tax profit was one-third higher at £3m. Net cash is still £12.5m after share buybacks and store investment.
Uruguay-focused oil and gas explorer Challenger Energy Group (CEG) is recommending a bid from Sintana Energy Inc, which is on the TSX Venture Exchange. The offer is 0.4705 of a Sintana Energy share for each Challenger Energy shares. This is currently equivalent to 16.61p/share and values the company at £45m. The share price has not been this high since January 2022. There are plans for Africa-focused Sintana Energy to join AIM.
Ariana Resources (AAU) says that the second gold mine at Tavsan in Turkey is fully operational. Ariana Resources has a 23.5% stake in this mine which could produce up 30,000 ounces of gold each year at a cost of $1,500/ounce. At the current gold price, the company’s share of EBITDA could be £14m, according to Zeus. Cash could be used to invest in the Dokwe gold project in Zimbabwe.
Panmure Liberum raised its target share price for pawnbroker Ramsdens (RFX) from 385p to 450p on the back of the full year trading statement. This is due to the strong gold price and an 8% increase in the pawnbroking loan book to £11.5m. Net cash is estimated at £2.5m.
Angle (AGL) chairman Dr Jan Groen has become executive chairman, and the company is changing its name to CelLBxHealth. This is designed to reflect the new focus on circulating tumour cells (CTC) intelligence. There are plans to integrate existing proteomics and genomic assays with the company’s Parsortix technology. Cash should last until the first quarter of 2026, and more cash will be required.
Beeks Financial Cloud (BKS) grew full year revenues 26% to £35.9m with the contribution from Proximity Cloud jumping from £1.6m to £7.8m. Annualised recurring revenues are £29.5m. Pre-tax profit improved from £3.9m to £5.5m. Beeks Financial believes that increasing cloud adoption, cybersecurity requirement, analytics and AI use in risk management mean that there are more opportunities. New contracts have been signed since the year end.
Reabold Resources (RBD) has entered an agreement with Beacon Energy (BCE) for the sale of its 46.2% stake in LNEnergy, which has a 90% interest in the Colle Santo gas field, for an earn-out that is valued at €16m in contingent consideration and €700,000 in shares. Beacon Energy will initially acquire 49% of the stake and the rest will be bought subject to the granting on the Colle Santo production concession. Contingent consideration is based on 25% of the acquired stake’s net cash flow from the project. First gas could be produced in 2027. Reabold Resources will take a 29% stake in Beacon Energy – the shares are currently suspended at 0.0039p. It needs to raise £3.5m to complete the deal and restart trading in the shares.
Washing machine technology developer Xeros Technology (XSG) has secured a joint development and product launch agreement with a global OEM that will use the technology in domestic washing machines in America. Commercialisation could be within 18 months. There are three more potential agreements like this one. A reduced loss of £2.8m is forecast for 2025.
Neo-natal medical devices developer Inspiration Healthcare (IHC) had already flagged the strong start to the year as phase one of the two phase Middle East order was finally recognised. There was also another large contact, but even without these two contracts there was underlying growth in the business. Interim revenues were 41% ahead at £24m and there was a swing from an operating loss to a small profit. Panmure Liberum expects a £600,000 pre-tax profit this year
Copper gold explorer Bezant Resources (BZT) says investee company Blackstone Minerals has gained regulatory approval in the Philippines for a two-year extension to the Mankayan copper gold project work programme. The drill rig has been mobilised.
Oil and gas producer Zephyr Energy (ZPHR) has announced results of a competent persons report for its assets in the Paradox Basin in Utah. Proved recoverable reserves have shot up from 160,000 net barrels of oil equivalent to 14.8 million net barrels of oil equivalent. This could generate up to $115m in cash.
Dekel Agri-Vision (DKL) is building up cashew production, and it has reached 500 tonnes/month, and additional equipment installations could increase that to up to 10,000 tonnes/month. Palm oil production fell 49% in the third quarter, although prices rose by 24%.
Sareum Holdings (SAR) has discontinued its 16-week GLP preclinical toxicology study for SDC-1801 following safety issues. The study was supposed to be a precursor to a phase 2 clinical development programme focused on psoriasis. However, the issues observed were predominantly in the control group, so it is unlikely it is due to SDC-1801 and Sareum plans to restart the study, and it can be completed within cash resources.
Premier Miton (PMI) assets under management slipped from £10.5bn to £10.3bn in the quarter to September 2025. Annualised cost savings of £2m, have been identified. Full year results will be published on 4 December.
Results from the Gazelle-1 well test are much better than Petro Matad (MATD) believes is commercial. The well could go into production by the end of October and should double the company’s production. This will generate revenues and help Petro Matad to secure a farm-out deal to fund development of the 100%-owned Block XX in Mongolia. Flow testing is due to start at the Heron-2 well. Shore has a share value estimate of 6.1p.
MAIN MARKET
Trading improved in the third quarter at online travel hostel agency Hostelworld (HSW) due to increases in bookings and average booking value. Net revenues for nine months were flat at €72.6m and margins have dipped due to investment for growth. Net cash is €6.6m. There are social media and budget accommodation initiatives that could further improve performance.
BATM (BVC) is selling it distributor of diagnostic laboratory equipment in Romania. Non-executive shareholder Dr Zvi Marom will swap his 22.2% stake in BATM in return for the business, which values it at £17.6m. This exceeded a competing offer. The deal requires shareholder approval.
Educational products supplier RM (RM.) has raised £13.5m in a placing at 95p/share. The cash will fund the development of the RM Ava platform and in sales and marketing for RM Assessment.
Andrew Hore
Quoted Micro 3 March 2025
AQUIS STOCK EXCHANGE
In the six months to November 2024, Field Systems Designs (FSD) improved revenues from £8.8m to £13.1m and pre-tax profit recovered from £84,000 to £853,000. There is cash of £4.4m. The mechanical and electrical engineering services company has benefit from increasing activity under the AMP7 programme for the water sector. The AMP8 programme will begin in April 2025. There are secured orders worth more than £22m, but the start of AMP8 is likely to see a slowdown in spending before it ramps up again.
Hydrogen Hotel, Eastbourne (HYDP) improved full year pre-tax profit from £236,000 to £350,000. There was £610,000 of cash generated from operations. Cash was £2.46m at the end of October 2024. A second interim dividend of 13p/share has been declared, taking the total to 26p/share.
Zentra Group (ZNT) has completed the sale of 19 out of 24 units at the One Meadow development in West Yorkshire to a registered housing provider for £3.96m. This will pay off the development finance facility. There are five units to sell privately.
Hot Rocks Investments (HRIP) has invested £75,000 in cross border payments company Endor Group, which trades as Universe Payments. Endor chief executive Tony Quirke was finance director at Equals.
Investment Evolution Credit (IEC) is acquiring Credit Canary, which specialises in AI and software developer and provider of credit services, for £4m in shares at 12.5p each. The brand will be retained.
KR1 (KR1) reported an end-January 2025 NAV of 77.5p/share, down from 77.8p/share the previous month, and has generated income of £721,233 during the months.
Having raised £7.4m from a placing at 180p/share healthcare procedures provider One Health Group (OHGR) has raised a further £200,000 through a retail offer, where shares worth up to £500,000 were on offer. Existing shareholders have the chance to take up shares in a one-for-38 open offer of up to £500,000 ahead of the move to AIM. which is expected to happen on 20 March.
Audit and assurance services provider Adsure Services (ADS) has signed a contract with K10 Vision to implement its audit working paper software. This will enhance the efficiency of subsidiary TIAA and integration is already underway.
Rogue Baron has changed its name to Richmond Hill Resources (SHNJ) and adopted an investment strategy in the natural resources. Trading in the shares recommenced on Wednesday 26 February.
Former Daniel Stewart boss Peter Shea has been appointed as a director of Good Life Plus (GDLF) and John Taylor has stepped down from the board.
SulNOx Group (SNOX) has signed an exclusive agency agreement for Greece and Cyprus with Technava SA. The focus will be the maritime market for the company’s fuel additives.
EDX Medical Group (EDX) founder and executive director Professor Sir Chris Evans acquired 60,000 shares at 12.97p each and 30,000 shares at an average share price of 13.49p each.
Kasei Digital Assets (KASH) director Bryan Coyne bought 1.06 million shares at 11.22p each. Cardiogeni (CGNI) executive chairman Darrin Disley has bought 152,205 shares, mainly at 22p/share, although 50,000 of these shares were acquired at 15p each.
RentGuarantor Holdings (RGG) has appointed Allenby as corporate adviser.
Inteliqo Ltd (IQO) will leave Aquis on 14 March.
ASSET MATCH
Chaarat Gold Holdings (CGH) decided to withdraw from Asset Match and the final auction was on 28 February. The last auction share price was 0.14p. The mining company left AIM on 16 August 2024.
Agricultural land and farming activities company Greenshields Agri Holdings (GAH) reported a decline in revenues from £6.18m to £3.95m. Crop sales and other farming income declined. There was also a fall in contract income. There was a reduction in cost of sales, and that helped the loss reduce from £728,000 to £436,000. NAV was £22.7m at the end of June 2024, which is equivalent to 145p/share.
AIM
Online building materials retailer CMO Group (CMO) has reviewed its strategic options and decided that it should leave AIM because it cannot source the finance it requires. This should save £700,000/year. JP Jenkins will provide a matched bargains market. CMO joined AIM at the height of the Covid-related boom in DIY and its results have declined since then. The market is currently declining, although there are signs of improvement in February. CMO raised £45m at 132p/share when it joined AIM in July 2021.
Staffing firm Staffline (STAF) is selling its workplace training business PeoplePlus for up to £6.9m – £12m minus £5.1m deduction for advanced payments. The change in government has led to uncertainty concerning training and delays in client decisions. PeoplePlus was expected to make a 2025 pre-tax profit of £300,000, down from £1.3m in 2024. Panmure Liberum expects an £11.1m non-cash write down on the business. A share buyback has been launched. This could acquire up to £7.5m worth of shares.
Bezant Resources (BZT) is planning to sell Puna Metals, which owns the Eureka gold and copper mine in Argentina, to Main Market shell Ajax Resources (AJAX). It will pay $120,000 in cash and $100,000 in shares – which will be based on the price of a fundraising.
Sovereign Metals Ltd (SVML) says graphite concentrate produced at the Kasiya rutile-graphite project has met or exceeded specifications for use in flame retardants, gaskets, seals and brake linings. Demand for graphite is growing at 6%-8%/year. Sovereign Metals believe it can produce the graphite at an incremental cost of $241/t, while the recent price was $1,140/t. The information will be used for talks with potential offtake partners. Rutile continues to be the primary potential product of the project.
Photonics and optical equipment supplier Gooch & Housego (GHH) is improving efficiency and margins and is set to meet full year expectations. At the AGM, it was revealed that the order book has grown to £126.4m. Defence optics, medical diagnostics and subsea data networks demand is strong. Semiconductors and industrial lasers markets remain weak. Net debt was £19.2m, following the acquisition of Wales-based Phoenix Optical for £6.75m. This business is being integrated. Net debt could fall to £15m by the end of September 2025. Further bolt-on acquisitions are being sought. Trading is likely to be second half weighted. Cavendish forecasts a recovery in pre-tax profit from £8.1m to £13.3m.
EnergyPathways (EPP) has signed a non-binding memorandum of understanding with a clean energy fund, which would be a cornerstone investor in an equity funding at higher than the current share price. This will provide cash for the development of the MESH energy storage project. A FTSE 100 constituent is interested in long-term storage capacity. The final concept engineering report has been submitted and a decision on the application for a gas storage licence is expected soon. The MESH project could be operational by the end of 2027.
Growth in the revenues of diagnostics developer Oxford BioDynamics (OBD) remains modest and the loss increased. Revenues moved up from £510,000 to £636,000, while the loss was nearly £12m. Since the balance sheet date £7.35m has been raised at 0.5p/share and Ian Ross appointed executive chairman. The company is seeking partners and collaborators to accelerate the take up of its EpiSwitch products.
Following the departure of its chief executive Wendy Lawrence and the loss of a NHS 111 contract healthcare services provider Totally (TLY) has renewed two multi-year contracts worth a total of £30m, including option extension periods. The original contracts had a similar annual value. David and Monique Newlands have been adding to their stake, and it has risen from 5.39% to 6.67%, while Trafalgar Capital increased its shareholding from 6.04% to 8.16%. Earlier in the week, Liontrust sold its 525% shareholding.
Retail software provider itim Group (ITIM) says that 2024 revenues were 5% better than expected at £17.9m thanks to contract wins in the second half. This enabled itim to move back into profit. Zeus forecasts a 2024 pre-tax profit of £200,000 and upgraded its 2025 figure to £500,000.
A June 2024 revaluation of the Mpac (MPAC) pension scheme shows an actuarial surplus of £21.1m. Back in June 2021the pension deficit was £28.4m. This should make it easier to transfer the scheme to a third party.
Asia-focused oil and gas producer Jadestone Energy (JSE) increased average production in 2024 by 35% to 18,696 barrels of oil equivalent/day. Revenues improved from $309.2m to $395m. The Akatara gas processing facility is up and running. Net debt was $104.8m at the end of 2024. This year production is expected to average 19,000-22,500 barrels of oil equivalent/day. Based on a Brent oil price of $70-$80/barrel Jadestone Energy believes it can generate $270m-$360m of free cash flow between 2025 and 2027.
MAIN MARKET
Packaging manufacturer and distributor Macfarlane Group (MACF) has reported 2024 revenues 4% lower and an organic decline of 8% due to lower volumes and prices. Pe-tax profit was 3% lower at £25m. The manufacturing operations increased revenues, although like-for-like sales were flat, and its profit contribution rose by 10%.
Cybersecurity company Narf Industries (NARF) has reportedly been awarded a $6.8m contract by DARPA in the US. This is for the Intelligent Generation of Tools for Security programme. This is designed to assess vulnerabilities in systems and lasts 36 months.
Georgina Energy (GEX) says a scoping study has confirmed the viability of commercial gas production at Hussar. The NPV10 is estimated to be $1.64bn. Management is in discussions with potential offtake partners. There is a non-exclusive agreement with potential offtake partner Harlequin Energy covering helium, hydrogen and natural gas.
Andrew Hore