News blog

Quoted Micro 25 August 2025

BY: Andrew Hore |
POSTED: 25/08/2025 |

AQUIS STOCK EXCHANGE

Wishbone Gold (WSBN) is the best performer on Aquis and AIM this week. The gold explorer says drilling at the Red Setter gold dome project in Western Australia has reached the top of a significant breccia pipe. Drilling has reached 777 metres, and the breccia pipe is 152 metres long. Drill core is being transported to be assayed.

Fibre optic cables materials manufacturer Unigel Group (UNX) increased interim revenues from £14.8m to £18.9m, while pre-tax profit improved from £1.28m to £2.03m. Cash was £2.41m at the end of June 2025. Tariff uncertainties mean that the outlook remains cautious.

Digital asset company Vaultz Capital (V3TC) has appointed James Bowater as global head of partnerships. He founded crypto publications Crypto AM.

Valereum (VLRM) has entered a memorandum of understanding with ZIGChain and DigiShares for a strategic collaboration to explore development of a scalable platform for real world asset tokenisation. Indirect investee company Nexstox Inc has been granted a Labuan Exchange licence, which is the fifth to be granted.

The Smarter Web Company (SWC) has appointed Jesse Myers as head of Bitcoin strategy.

NYCE International (NYCE) is planning to raise up to £150,000 at 0.2p/share. Chief executive Farzad Peyman-Fard plans to subscribe for at least two-thirds of these shares. The cash will be invested in games aggregation platform Nirmata Play and to develop games for crypto casinos. Also, money will be spent on performance marketing and advisory services. The subscription should close on 28 August.

Emissions reduction fuel additives developer SulNOx Group (SNOX) has secured a patent in Jordan, which has the second largest container port in the Red Sea. The patent covers a range of formulations.

BWA Group (BWAP) says that the initial sampling programme has been completed and there is evidence of heavy mineral sands mineralisation beyond holes analysed at the Dehane project in Cameroon. There is mineralisation from surface.

Oscillate (MUSH) had cash and short-term investments of £2.29m at the end of May 2025. This will be invested in mining projects.

Mendell Helium (MDH) says that M3 Helium has secured a land lease in Nebraska and drilling should start shortly. There are talks with potential partners to develop a plan for Bitcoin mining. There are preparations for dewatering at the Rost well at Fort Dodge, Kansas. The work has been under budget.

Non-board chief engineer Noah Deledda has pledged 21 million of his 69.7 million shares in CRUSHMETRIC Group Ltd (CUSH) as security for a loan.

Time to Act (TTA) executive chairman Chris Heminway bought 33,300 shares at 15p each. Vault Ventures (VULT) has completed a one-for-100 share consolidation. Prior to this Concreatd Ltd acquired a 3.98% shareholding. Mark Jackson has increased his shareholding in Evrima (EVA) from 4.13% to 5.14%.

ASSET MATCH

Greenshields Agri (GAH) says it expects to make a strong profit in the year to June 2025, helped by land sales. Estimated NAV is 160p/share after a marginal uplift in farmland value. Early grain yields appear promising. There are plans to approach companies about a quarry project that could transform earnings.

Brewer Wadworth and Company (WAD) says interim sales were 4% higher with own beer sales 9% ahead. EBITDA improved by 7%, although one-off costs will hit profit. Banking facilities will be refinanced in September and that should reduce interest charges.

AIM

MicroSalt (SALT) is gearing up to supply its third major customer. This will generate revenues in the second half and could generate $5m next year. There have been some delays in revenues because of changes in US regulations on food additives and the interim revenues figure is $900,000. Full year sales expectations have been reduced from $2.5m to $2m, rising to $6.7m in 2026. There was $900,000 in the bank at the end of June 2025.

Singer upgraded its forecast for Tribal Group (TRB) following the interim figures. In the six months to June 2025, revenues were 2% higher at £45.3m and pre-tax profit jumped from £600,000 to £5.6m. The core education software business is building up its cloud revenues and selling more subscription-based packages of products. Growth has been in the UK. Trading conditions are still tough for the Education services business Etio with a shortage of cash available for spending by universities and colleges in the US as well as the UK. Revenues declined but profit improved thanks to cost savings. Since June, more contacts have been won and annualised recurring revenues have reached £64m, although that includes £2.2m of revenues from older software where income is declining. Singer raised its 2025 pre-tax profit forecast to £10.8m.

Revolution Beauty (REVB) has ended its formal sales process and raised £15m at 3p/share. A retail offer could raise up to £1.5m. Co-founder Tom Allsworth is returning as chief executive, and the other co-founder Adam Minto, who still owns 15.8%, is returning as a consultant. The cash will be used to reduce debt, fund capital investment and pay for restructuring costs. There will be a focus on pricing policy, marketing and efficiency. Tom Allsworth, Adam Minto and largest shareholder Debenhams are acquiring a total of 298.8 million shares in the fundraising. Net debt was £29.7m at the end of July 2025. The credit facility will be reduced from £32m to £28m.

Fishing tackle retailer Angling Direct (ANG) increased interim UK revenues by 18% to £51.1m, with online revenues 21% ahead. Like-for-like sales were 14% higher. European sales edged up from £2.4m to £2.5m. The store in Utrecht was opened in May 2024. After investment and share buy backs net cash reduced to £12.5m. Trading is comfortably in line with consensus market expectations. The interim results to July 2025 will be published on 7 October.

Explorer and project incubator Power Metal Resources (POW) has sold its remaining 14.75% stake in tungsten project developer Guardian Metal Resources (GMET) to Duquesne Family Office for £13.6m at 55p/share. There was a £6.6m gain on book value. Power Metal Resources says it invested £1.9m in Guardian Metal Resources and it has generated £22.8m from selling shares.

Firering Strategic Minerals (FRG) has received notice that Ricca Resources is withdrawing from the earn-in for the Atex and Alliance lithium tantalum projects. These are on care and maintenance. Firering Strategic Minerals will not have to pay any money back to Ricca, but it expects Ricca to repay funds it advanced for the projects. Firering Strategic Minerals received a 10.6% stake in Ricca as part of the original deal.

Neo-natal medical devices developer Inspiration Healthcare (IHC) increased interim revenues by 41% to £24m and gross margins improved. During the period a $6m humanitarian aid contract was delivered. The sales momentum is continuing in the second half. Deliveries for the Middle East contract have started and should be completed in the second half. Net debt has been reduced by £1.6m to £6.7m.

Packaging manufacturer Robinson (RBN) increased interim operating profit by one-quarter to £2.04m on a 2% increase in revenues to £27.6m. Additional working capital increased net debt to £8.5m, but the second half should be a strong cash generator. The share price has been on an upward trend because of property disposals and profit upgrade.

Iron deficiency treatment developer Shield Therapeutics (STX) announced interim revenues were 177% higher at $21.4m. Total US prescriptions were 29% ahead at 84,000 in the first half. There was cash of $10.8m at the end of June 2025, but there is net debt. A full year loss of $18.9m is forecast for 2025. Cash flow could be positive by the end of 2025. Net debt could reach $36.3m at the end of 2025.

Empire Metals (EEE) has reported further assay results from the Pitfield project in Western Australia. This was focused on the weathered cap at the Thomas prospect. There are some of the highest titanium dioxide grades recorded at the project and many of them are more than 7% titanium dioxide. Nearly two-thirds of the drill holes had an average grade of more than 4%.

Pulsar Helium Inc (PLSR) has raised £3.72m at 23p/share and Universal Bancorp has raised its stake to 4.99%. The cash will be invested in developing the Topaz helium project in Minnesota. There are plans for ten appraisal wells. There will also be a preliminary economic assessment and resource update.

Aptamer Group (APTA) has released an update on licencing. There are multiple non-exclusive licence opportunities for the first enzyme-modulating Optimer. Initial sales forecasts have been provided by one potential licensee, and this could cover 15% of Aptamer’s overheads. A second enzyme-modulating Optimer is at a final development stage. There has been positive feedback concerning Optimer evaluation from a top five pharma company.

Animal treatments developer Animalcare (ANCR) has acquired the VHH NGF programme and related assets that were under a licence agreement with Orthros Medical for €700,000. The programme is assessing the effectiveness of antibodies in the treatment of pain caused by osteoarthritis in horses and dogs.

MAIN MARKET

BATM Advanced Communications (BVC) has sold non-core operations so that it can focus on core networks and cyber technology. Interim revenues improved 3% to $60.4m, while underlying pre-tax profit fell from $3m to $1.6m. That excludes the $4.3m loss on discontinued activities. There was a strong performance from the remaining diagnostics businesses and networks revenues are growing. A new product launch will help cyber. There was $27m of cash in the balance sheet.

Ikigai Ventures (IKIV) plans to acquire Dotlines Global and Audra Solutions for a total of £67m in shares and move to AIM. The businesses are based in Singapore and Malaysia and are involved in cyber security, AI and fintech. Pro forma revenues are £22m and EBITDA is £1.7m. Trading in the shares has been suspended.

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