A going-concern crisis at Ferrexpo (LON:FXPO) dominates the premarket, with the iron ore pellet producer warning its shares face imminent suspension as it scrambles to secure equity funding ahead of its 2025 audit deadline. Elsewhere, a string of smaller companies report contract wins, fundraises, and operational milestones that keep the micro-cap tape busy.
Ferrexpo faces suspension as it hunts equity lifeline
Ferrexpo (LON:FXPO) Warns that its shares are expected to be suspended from 07:30 on 1 May While the company pursues an equity funding solution to allow its 2025 audited accounts To be prepared on a going-concern basis. The disclosure is a stark signal that the company's auditors cannot sign off without visibility of fresh capital, and the clock is now running. The stock trades at 32.0p, down a punishing 25.9% In early dealing.
The scale of the sell-off reflects the binary nature of the situation: without a successful equity raise before the suspension deadline, the path to restoring normal trading and completing the audit becomes materially harder. Management has given no detail on the size or structure of the proposed equity solution, leaving investors with little to anchor a recovery thesis in the near term.
Cake Box serves up 43% revenue surge
Cake Box Holdings (LON:CBOX) delivers a strong trading update for the 52 weeks ended 29 March, flagging group revenue of approximately £61.2m, a 43% year-on-year Increase, with profit described as in line with market expectations. The franchise-driven egg-free cake specialist has clearly sustained the momentum that has characterised its recent expansion, with the top-line figure comfortably ahead of its prior-year base.
Management stops short of providing a detailed profit breakdown, but the combination of strong revenue growth and an on-consensus profit outcome is likely to be well received. No stock price data is available in early trading.
Powerhouse Energy wins £260,000 Welsh contract
Powerhouse Energy Group (LON:PHE) has secured an approximately £260,000 Engineering contract to modify test kilns and support the development of novel anode material for a Welsh battery developer, with payments spread over the next Eight months. The award adds a near-term revenue stream to the waste-to-energy specialist's order book and signals growing industrial interest in its engineering capabilities beyond its core gasification technology. The stock trades at 0.2113p, off 3.95%.
Zenith Energy taps UK and Norway markets in multi-part raise
Zenith Energy (LON:ZEN) has completed a multi-pronged capital exercise, issuing 44.61m new shares Through private placements in the UK and Norway, issuing a further 20.96m shares To settle existing debt, and agreeing an unsecured £2m convertible loan facility. The disclosures were made simultaneously under FCA, Euronext Growth Oslo, and MAR rules, reflecting the company's dual-listed structure. Zenith trades at 7.0p, down 3.4%.
The debt-settlement tranche is notable, converting liabilities into equity reduces near-term cash pressure but adds to the dilution burden for existing shareholders. The convertible facility provides additional liquidity headroom as the company continues to develop its oil and gas assets.
Mila Resources posts project-high 112g/t hit at Yarrol
Mila Resources reports assay results from three RC drill holes at its Yarrol gold project in Queensland that include the programme's highest-grade intercept to date at 112g/t. The results extend mineralisation beyond the boundaries of the historic resource and, the company argues, confirm structural continuity as it advances towards an initial JORC Mineral Resource Estimate. The widening of the target footprint is a meaningful derisking step for a project still in its resource-definition phase.
Eco Buildings completes first Rolling Hills block milestone
Eco Buildings Group has finished the sub-ground parking and ground floor of the first 18-unit apartment block At the Rolling Hills residential development in Tirane, Albania, a project being delivered for developer Balfin Group. The company says each block is expected to generate approximately €2.2m Of revenue, making the completion of this structural phase a tangible step towards recognising that income.
GenIP strikes US cross-sell deal with Cardinal IP
GenIP has signed a reciprocal resale alliance with Cardinal Intellectual Property, a US-based IP services firm, giving GenIP direct access to Cardinal's established base of corporate clients and law firms in the United States. The agreement creates a recurring revenue channel for GenIP's AI-enabled intellectual property tools and represents a low-capital route to US market penetration for the early-stage company.
MicroSalt launches dual-action sodium and fibre ingredient
MicroSalt has launched MicroSalt Fibre, a patented ingredient that combines its proprietary low-sodium salt technology, which delivers approximately 50% less sodium Than conventional salt, with functional fibre in a single additive. The product is aimed at food manufacturers seeking to address both sodium reduction and fibre fortification in one formulation step, reducing reformulation complexity. The launch extends MicroSalt's addressable market beyond pure sodium-reduction applications.
Hemogenyx raises £3m to push HG-CT-1 into early commercialisation
Hemogenyx Pharmaceuticals has raised £3m Through a direct institutional subscription to accelerate its Phase I clinical programme for HG-CT-1, its chimeric antigen receptor T-cell therapy candidate, and to begin local manufacturing in preparation for early commercial access. The fundraise is structured as a direct subscription rather than a broader placing, suggesting targeted institutional conviction in the programme's near-term milestones.
Active Energy signs LOI with Bitdeer for UAE pilot site
Active Energy Group has signed a Letter of Intent with Nasdaq-listed Bitdeer Technologies Group (NASDAQ: BTDR) To deploy an infrastructure-led equipment partnership at Active Energy's 8MVA site in the UAE. The LOI sets out indicative revenue and production metrics for the pilot, positioning the UAE facility as a proof-of-concept for a broader infrastructure deployment model. A Letter of Intent carries no binding commitment, but the disclosure of specific capacity and revenue parameters suggests the commercial framework is at an advanced stage of negotiation.
