Share Talk Weekly Small Cap Movers & Shakers, 31st December 2022

Mobile Streams (LON: MOS) has extended an agreement with International Gaming Systems for six months starting January 2023. Minimum revenues are $900,000. The minimum revenue commitment is $900,000. The share price rose 19.6% to 0.1375p.

After publishing its interims and 2020-21 accounts, trading in digital media company Catenae Innovation (LON: CTEA) shares was reopened. They rebounded by 34.3%, to 0.235p. Last year, there was a £993,000 cash flow from operations. This was reduced to £283,000 by the latest interims. In March 2022, there was cash of £337,000. There was no debt. Sanderson Capital has secured a £250,000 interest-free loan facility and £125,000 has already been drawn down. Sanderson Capital will receive warrants and shares at 0.235p each.

Invinity Energy Systems (LON: IES) claims that 2023 revenues will exceed expectations due to the increased order inflow and delays in contracts. In September, the 2023 forecast was increased from £20.6m at £23.7 to £23.7. Even with increased revenues, the battery storage technology developer will still suffer a substantial loss. At 43p, the share price is 13.5% higher than its previous close.

Nexus Infrastructure (LON: NEXS) has sold its utility connections and charging infrastructure businesses for £77.7m to FitzWalter Capital. This is more than the market capitalisation prior to the announcement. The share price increased by 14.8%, to 175p. This is the highest price it has been since June. TriConnex, eSmart Networks and Nexus Infrastructure were the segments with the highest growth prospects. Nexus Infrastructure is left with the Tamdown civil engineering business where margins are improving. Revenues were £98.4m in 2021-22. Operating profit was £2.3m. There will be £10m retained as working capital, and the remaining £65m after costs will be divided among shareholders.

Pantheon Resources (LON: PANR) is the worst performer of the last trading day, with a 48.3% drop to 42.52p. Due to sand, the Alkaid #2 oil and gas exploration company in Alaska continues to struggle. To remove the sand, a specialist rig will be available in January. In the year ended June 2022, there was a $48.6m cash flow. Thanks to $55m raised through a convertible bond, $54.7m were left in the bank as of June 2022. Converting the bond will result in a greater dilution due to the fall in share prices.

Importantly, it is estimated that the well is still less than 40% of the way through the cleanup phase, so potential exists for these rates to further improve. Crude oil is processed on location and oil sales are underway. To date over 7,000 barrels of 38-41 degree API oil has been trucked and sold into the Trans Alaska Pipeline System.

Nicholas Slater purchased more shares in Blue Star Capital, (LON: BLU) increasing his stake from 13.1% up to 14%. The shares prices rose 11.3% to 0.1475p.

Inspirit Energy Holdings (LON: INSP) won’t publish results by 2022, and the share price fell by 23.8% to 0.02p in advance of the suspension on 3 January.

Harland & Wolff (LON: HARL) lost some of its gains after the announcement in November about its fleet solid support contract. This fell 21.2% to 15.875p. The MoD contract is not moving as fast as expected and commercial clients are putting off spending. Due to cost increases, a contract for four jackets for wind turbine generators was terminated. The guidance on revenues for the year ending March 2022 was more than half off, at £29m-£31m. Negotiations are ongoing for the fleet solid support contract. The first quarter of 2023 could see a financing facility of up to £200m.

John Wood, chief executive of the group, stated: “While it is disappointing that 2022 has not been achieved due to timing issues we have made significant progress in the past twelve months.

He said, “I believe we are now on the cusp of a major transformation and the team works hard to convert bids into contracts.”

A Corporate Update was published on the 21st of December 2022 Eurasia Mining PLC (LON: EUA) and a cross-social media was well received, could 2023 be Eurasia year? So many clues pointing to a positive outcome, we will highlight a few paragraphs from the RNS update and let you decide if the tide is turning for the company.

The company provided a general update on operational matters for the Urals and Kola operations, the possible sale of the Company’s Russian assets and sanctions legislation.

Goldstone Resources, (LON: GRL) states that it has not met its 2022 production goal of 7,000 ounces from the Homase mining. From the sale of 5,153 troy ounces, it has made $9.3 million in revenues. The costs have been volatile, and the recovery rates could be improved. In early 2023, drill results from the exploration at Akrokeri will be available. The share price fell 12.3% to 3.025p.

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