AIM movers: Active Energy Group agrees settlement and KEFI Gold and Copper fundraising.

Active Energy Group (LON: AEG) has agreed a settlement with Player Design Inc, which was constructing a CoalSwitch plant in Maine. Active Energy Group will receive a cash payment of $1.65m, but Player Design will retain IP rights that were developed while the plant was being developed – but not Active Energy Group IP. All legal claims have ended. The share price has more than doubled to 0.675p.

Empire Metals (LON: EEE) says study results for the Pitfield project in Western Australia show favourable mineralogy and metallurgy in the high-grade titanium samples. This should simplify processing. Around two-thirds of the contained titanium is titanite, which can be processed at low temperatures. The overall end product would be ideal for a titanium dioxide pigment producer.  The share price rose a further 19.2% to 10.25p.

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Harland & Wolff (LON: HARL) has been awarded preferred bidder status for the Falkland Islands Port Replacement Project. This could generate revenues of between £100m and £120m over two years. The project should start this year. It involves constructing four floating pontoons. The share price improved 11.1% to 11p.

Tulip Oil’s stake in Beacon Energy (LON: BCE) has been diluted from 31.8% to 23% following the recent placing at 0.05p/share. The share price is 5.56% higher at 0.0475p.


KEFI Gold and Copper (LON: KEFI) announced a fundraising after the market closed on Monday. The miner raised £4.5m via a placing at 0.6p/share and further £496,000 through a PrimaryBid offer. This is part of a funding package for the Tulu Kapi gold project. Management says that the NPV8 of KEFI Gold and Copper’s interest in the project, at a gold price of $1,862/ounce, is equivalent to 2.9p/share. The share price slumped 24% to 0.578p.

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Lung cancer diagnostics developer LungLife AI (LON: LLAI) has raised £1.8m at 35p/share. Following positive validation study results the commercialisation process is starting. The cash will fund the evidence generating activities, including an early access programme and clinical utility studies. It will also help to raise clinical awareness and enable LungLife AI to investigate licensing opportunities. There should be enough cash until April 2025. The share price dipped 12.1% to 36.5p.

Thor Energy (LON: THR) interims show cash in the bank of A$525,000 at the end of 2023. That is after a A$974,000 cash outflow from operations and investment. The share price fell 11.8% to 1.5p.

Audio-visual services provider MediaZest (LON: MDZ) fell back into loss in the year to September 2023, as revenues declined 17% to £2.34m. Margins did improve and there was an improvement in activity in the fourth quarter. The share price declined 7.14% to 0.065p.

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