Quadrise jumped to the top of the small-cap list after the alternative fuels developer added another big name to its rapidly expanding client list.
OCP, the Moroccan fertilizer and phosphate giant, is the latest to announce a trial, following the announcement in April of a binding agreement between Quadrise, the shipping company MSC, and Cargill, the crop and food transport company.
Quadrise is emerging as an interesting small cap company in the alternative fuels market. Its MSAR product and its sister biofuel product BioMSAR have been designed to reduce the huge emissions generated by the shipping business and assist in its transition to greener alternatives.
Real estate broker Shore Capital Markets said of Quadrise: “The company’s opportunity in the marine sector with MSC alone could be worth a multiple of its current enterprise value in potential annual revenue if only a small percentage of the company’s total fuel demand shipping company will change to MSAR or bioMSAR’.
Quadrise helps reduce the huge emissions emitted by the shipping and maritime sector
Shares are up 70 percent this week in response to this latest round of customer acquisitions, pushing the stock’s year-over-year return above 100 percent.
The AIM All-Share Index fell around 0.7 per cent in the shortened four-day trading session, while in the blue-chip space, the FTSE 100 on Friday came in around 63 points, or 0.75 percent, less.
Both indexes staged a recovery of sorts late in the week after a bearish first half with stocks across the board spooked by rising bond yields.
Looking at other top small caps, digital transformation firm TPX Impact soared 33 percent thanks to a bullish three-year forecast.
This year’s revenue growth should rise 20 percent to £84 million, the group said, while adjusted EBITDA margins are expected to be in the middle of the 5 to 6 percent guidance range.
In the mining sector, gold metal resources added 28 percent thanks to a promising update to the Pilot Mountain Project, the flagship of the 100 percent-owned US-based mining exploration company
Golden Metal said it is accelerating development of the project, using its current mineral resource estimate as an initial basis for planning.
Kodal Minerals The shares rose a fifth after it provided an update on its Bougouni lithium project in southern Mali.
The company reported that manufacturing of a DMS processing plant and crushing circuit is progressing as planned, with shipment of equipment from China to West Africa expected to begin in early June.
Prospex Energy was another of the biggest risers, adding 24 percent over the week thanks to a promising update on its 37 percent-owned Selva Malvezzi concession in Italy.
Owner of the Scotsman and Yorkshire Post National WorldThursday’s trading update, which showed an 18 percent year-over-year increase in sales, propelled the stock to a 12 percent intraday rally.
Kromek Group Shares rose 18 percent when the company announced it would report record revenue and positive EBITDA, beating market expectations.
The radiation and biosensing technology leader saw strong commercial momentum in the second half of the year, driven by multi-year contracts in advanced imaging and CBRN detection.
Addressing the fallen, long boat power was among the worst performers this week, falling more than 57 percent on Friday.
Longboat admitted that production growth at one of its concessions “has been disappointing to date despite an increase in production starting in 2023,” while “progress has been frustratingly slow” at another site.
In the biotech space, Renalytix IA shares fell 22 percent. The group announced a change of management and James Sterling resigned as chief financial officer. An interim chief financial officer has been appointed while Renalytix searches for a replacement.
MicroSalt Stock fell 17 percent Thursday after the low-sodium salt maker posted its first results since going public in February.
Microsalt said the launch with new B2B customers “has been slower than expected” in 2024. However, the stock saw a 12 percent recovery on Friday.
Finally, what should we do with the pharmacogenetic testing company? gene driveThe £6m equity round?
Retail and institutional investors jumped into the heavily discounted share offering, with the open offer gaining 94.4 per cent take-up, generating £2.03 million, although the retail offering fell short of the target by raising £ 1.89 million.
Genedrive initially hoped to raise £3.5 million through the retail offering held on Peel Hunt’s REX platform.
A mix then. Shares fell 16 percent for the week.