AIM movers: Ocean Harvest continues rise and Bezant Resources fundraising

Ocean Harvest Technology (LON: OHT) continues to rise. A further 23.8% increase takes the share price to 26p. A placing raised £6m, or £4.5m after expenses, at 16p. The company produces ingredients for animal feed using seaweed under the OceanFeed brand name.

Market research services provider System1 (LON: SYS1) is growing the revenues of its standard products and fourth quarter revenues were £5.27m, 73% higher than the corresponding period last year, taking the group total for the quarter to £6.62m. Full year group revenues were £23.3m. There should be a return to profit in the second half. Net cash is £5.7m. The share price is 16.9% higher at 190p.

- Advertisement -

Zephyr Energy (LON: ZPHR) has nearly recovered its loss from yesterday after it revealed that there was an oil spill at the State 36-2 LNW-CC well in the Paradox Basin in Utah. The share price recovered 12.6% to 4.9p, having ended last week at 5.1p. Zephyr Energy is attempting to remove impacted soil and clean up the equipment. An environmental survey will be conducted.

Invinity Energy Systems (LON: IES) has been awarded an £11m grant from the UK government under phase 2 of the Longer Duration Storage Demonstration competition. This will deploy a 30MWh vanadium flow battery. The share price is 11.8% higher at 38p.

Bezant Resources (LON: BZT) is raising £750,000 at 0.04p a share to finance operations at the Hope copper gold project in Namibia. The plan is to construct an 8,000 tonnes per annum open pit mine. Drilling will increase the resource. Metallurgical test work will be pursued at the Kanye manganese project in Namibia. The share price slumped 24.2% to 0.05p.

Vast Resources (LON: VAST) is raising £979,000 at 0.46p and the cash will be used to upgrade equipment at the Baita Plai polymetallic mine in Romania. The strategy is to reach production of 14,000 tonnes/month during the first half. Vast Resources had expected to use cash from claims in Zimbabwe, but this has been delayed. The share price slipped 5.88% to 0.48p.

- Advertisement -

Currency and payment services provider Argentex (LON: AGFX) says nine months revenues were 63% ahead at £41m, although the underlying operating profit fell from £11m to £9m. The share price fell 4.49% to 122.25p. Net cash is £26.2m. The final dividend will be 2.25p a share. The year end is being changed from March to December.

Womenswear retailer Sosandar (LON: SOS) reported improving revenues and margins, although pre-tax was lower than expected in March. Full year pre-tax profit is still expected to be £1.6m and it could be more than £3m in 2023-24. More partnerships with other retailers are likely to be secured. The share price dipped 4.21% to 22.75p. The February placing raised £5.4m at 22p a share.

Latest News

Subscribe to the UK Investor Magazine email newsletter

Register for our free email newsletter and receive the latest investment news, podcasts, event information and offers.

More Articles Like This

Tagdiv Cloud library - template content.