African Minerals' Lithium Plant Restart Boosts Share Price, Eneraqua Technologies Faces Financial Difficulties

Eneraqua Technologies has reported lower-than-expected revenues and pre-tax profit for the year to January 2025. The company's subsidiary Cenergist has been placed in administration due to an adverse adjudication, leading to trading in Eneraqua's shares being suspended. Meanwhile, Premier African Minerals has restarted its Zulu lithium plant and is optimising processing, while Futura Medical is replacing its CEO after disappointing sales of its erectile dysfunction product Eroxon.

Eneraqua Technologies PLC, a London-based energy and water efficiency solutions company, reported lower-than-expected revenues and pre-tax profit for the year ending January 31, 2025. The company expects to post revenue of GBP63 million, a 17% increase from the previous year's GBP53.8 million, but also recorded an adjusted pre-tax loss of GBP6.0 million [1]. The company warned of significant strain on its balance sheet in the year ahead, citing delays in client payments and deferral of energy projects [1].

Shares in Eneraqua Technologies fell 34% to 19.15 pence in London on Monday afternoon. The company secured a GBP7 million contract within its water division, which was substantially completed in January 2025 and recognized in financial 2025 as accrued revenue [1]. The contract related to the installation of its control flow HL2024 technologies into homes to generate nutrient credits with payment from the counterparty linked to new home construction in the area. Payments are expected to start shortly as an unnamed, well-known housebuilder begins development in the area [1].

Meanwhile, Premier African Minerals has restarted its Zulu lithium plant following the installation of spodumene float section inserts. The plant restarted on July 6, 2025, and is currently running with limited feed to allow for checks on the operation of each plant component and process integration [2][3]. The restart aims to reduce the retention time of concentrates in the cleaner section of the original float plant, thereby improving grade and recovery.

Futura Medical, a company specializing in erectile dysfunction treatments, has replaced its CEO after disappointing sales of its product Eroxon. The company has not provided specific details on the reasons for the CEO's departure or the impact on its financial performance.

References:
[1] https://www.morningstar.co.uk/uk/news/AN_1751901834859040200/eneraqua-technologies-expects-to-post-revenue-rise-warns-on-outlook.aspx
[2] https://www.miningweekly.com/article/premier-restarts-zulu-lithium-plant-2025-07-07
[3] https://www.tradingview.com/news/reuters.com,2025-07-07:newsml_RSG9771Pa:0-reg-premier-african-min-zulu-lithium-plant-update/