Catenae Innovation PLC (LON:CTEA) slumped 18% to 0.90p after it gave an update on its work capital and balance sheet.

Discussions with a number of parties in respect of securing immediate funding, by way of a placing or short term debt, are continuing and the directors are optimistic that funding of up to £100,000 is available to it, Catenae said.

The digital media and technology company said the company is also in talks with its creditors, who remain supportive of the company. In the event that further funding cannot be secured, then the company would need to consider commencing insolvency proceedings.

2.30pm: TechFinancials tanks as shareholders authorise AIM delisting

Shares in TechFinancials Inc (LON:TECH) plunged 36%to 0.625p after shareholders voted in favour of the proposed delisting of the shares from AIM.

The trading platform developer’s shares will cease to be listed on AIM on 20 January.

TechFinancials, which shifted its focus to blockchain technology solutions and “diamond tokenisation” in late 2018, said its shares will continue trading on the NEX market.

1.30pm: eEnergy Group completes disposal of MetalLeach assets

eEnergy Group PLC (LON:EAAS), the energy efficiency as a service company, was on a charge after completing a disposal, with the shares rising 4.7% to 8.375p.

The company said the disposal of the MetaLeach assets has completed on the terms set out in the company’s admission document dated 20 December 2019.

The company floated on AIM yesterday.

12.30pm: Regal Petroleum lifted by Ukraine update

Regal Petroleum PLC (LON:RPT) shares were on the front foot, rising 8% to 24.3p, after a fourth-quarter production update revealed stronger gas volumes.

Increasing by 15%, aggregate production from its Ukrainian amounted to 4,776 barrels oil equivalent for the three months ended 31 December, compared to 4,139 boepd in the comparative months of 2018.

The company noted that the improvement was driven by the boost in volumes that followed the start-up of the MEX-119 well at the MEX-GOL field, which occurred in October.

11.30am: Team17 enjoys happy Christmas

Team17 Group PLC (LON:TM17) shares levelled up 9.5% to 419.5p after the video game developer upgraded its profit forecasts after a strong 2019.

In a trading update for 2019, the AIM-listed maker of Worms and Overcooked said its portfolio had “continued to perform well” over the peak Christmas season, with its multiplayer titles sees particularly strong sales on Nintendo’s Switch console.

As a result, Team17 said it now expects its adjusted earnings (EBITDA) and revenue for the year just ended to be “ahead of market expectations”.

10.30am: Watches of Switzerland reverses as US owner clocks out

Watches of Switzerland Group PLC (LON:WOSG) predictably dipped, to 360p from 380p overnight, after a major stakeholder offloaded shares at 360p each.

A company ultimately controlled by an affiliate Apollo Global Management placed around 100.7mln Watches of Switzerland shares with instituional investors, raising around £119mln in the process.

The sold shares represent around 42.1% of the issued share capital of the company.

9.30am: Great Western soils its share price

Great Western Mining Corp (LON:GWMO) shares dropped 18% to 0.1p in early morning trade on Friday, reacting negatively to the publication of results from a soil sampling survey.

The company asserted that the soil survey, carried out at the Rock House areas on its properties in Mineral County, Nevada, has “delivered compelling evidence” for mineralisation in this previously unexplored and unmined area of Great Western’s properties.

However, the market was evidently expecting more than the identification of three “separate highly-prospective zones of mineralisation”.

But elsewhere among resource stocks, the share price of Lekoil Limited (LON:LEK) has more than doubled in 2020 and was up another 5.7% to 9.8p today on-site survey news.

The oil and gas exploration and production company with a focus on Nigeria and West Africa said a survey of OPL 310 has kicked off.

“With the commencement of the site survey, we are delighted to begin in earnest the two well appraisal drilling work programme of activities which is expected to lead to the spudding of the first well in the second half of this year. We celebrate this milestone with our partner and the operator of the OPL 310 licence, Optimum Petroleum, as together we pursue value for all stakeholders,” said Lekan Akinyanmi, the chief executive officer of Lekoil in a statement.

Proactive news headlines:

Frontier IP Group PLC’s (LON:FIPP) portfolio company, Exscientia has signed a collaboration deal worth up to £203mln (€240mln) with German pharmaceutical giant Bayer focused on oncology and cardiovascular disease. Under the terms of the deal, Exscientia will initially work on three projects focused on accelerating the discovery of small molecule drugs using its Centaur Chemist platform, which uses artificial intelligence to identify new drugs.

Pembridge Resources Plc (LON:PERE) told investors it has received its third payment under its offtake agreement with Sumitomo. The latest payment, US$5.4mln, follows the first and second Sumitomo payments which came in November and December respectively.

MTI Wireless Edge Limited (LON:MWE) has secured an additional order to an existing contract, worth around US$0.6mln. The contract is for the manufacture of military aerials and follows on from a US$1mln order received in March 2019, worth US$1mln, that was to be delivered over 40 months; the additional order announced today is to be delivered within the next 12 months.

Tharisa PLC (LON:THS) chief executive Phoevos Pouroulis described a “solid operational performance” as the company reported on the three months ended 31 December 2019. The Cypriot firm with mining assets in South Africa, in a statement, told investors that it mined 1,143 tonnes of ore and milled 1,247 tonnes during the quarter.

Mkango Resources Ltd (LON:MKA) (CVE:MKA) confirmed it has bought a stake in a company that has developed a technology to recycle rare earth magnets. Its subsidiary Maginito has taken a 25% stake in HyProMag for £300,000 and has an option to take this up to 49% for a further £1mln. Maginito has developed a patented method for extracting and demagnetising neodymium iron boron alloy powders from magnets embedded in scrap and redundant equipment.

European Metals Holdings Limited (LON:EMH) (ASX:EMH) has raised £350,000 via a share placing at 15.25p a share. In total, 2.3mln shares were placed with new and existing UK investors. The company said the funds would be used to further the development of the Cinovec project, the lithium asset in the Czech Republic.