AIM movers: Actual Experience contract and Great Western Mining fundraising

Analytics-as-a-Service company Actual Experience (LON: ACT) has signed a letter of intent with Logicalis International, a subsidiary of Datatec, for the first sale of a joint venture product based on the company’s Digital Workplace Management Platform delivered via the Logicalis platform. The share price soared 143.5% to 1.4p.

Engineering and technical recruitment company RTC Group (LON: RTC) increased interim revenues by one-third and moved from a £400,000 loss to a £1m pre-tax profit. An interim dividend of 1p/share is proposed. There was a strong recovery in the rail business, despite strikes. Management believes that there will be further progress in the second half. There had been no trades in the shares for more than one week and the share price jumped 108.3% to 37.5p.

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SIMEC Atlantis Energy (LON: SAE) has reduced costs, but it remains in a fragile financial situation with a material uncertainty going concern statement. Even so, the share price recovered by one-third to 1.2p. The 2022 loss dropped from £74.1m to £11.1m, although the previous year included write-offs of £53.1m. Repayments on debentures have been deferred and a £4m development premium received on the Uskmouth battery project. The EU is demanding repayment of a £1.1m grant, but the company disputes this.

Electric drivetrain developer Saietta Group (LON: SED) has secured a third vehicle line with an existing Indian client. There could be 60,000 units supplied over a five-year period. A production facility has been set up in Delhi for the first two contracts and deliveries should start at the end of 2023. The share price rose 26.4% to 45.5p.

Great Western Mining (LON: GWMO) is raising £500,000 at 0.055p/share. The cash will finance the joint venture in Nevada’s plan to construct a mill for production of gold and silver concentrates. The company is also drilling close to a highly promising shallow silver intercept at Mineral Jackpot. The share price fell 32.1% to 0.056p.

Late on Tuesday, battery technology developer AMTE Power (LON: AMTE) announced it has secured a £1m loan facility from Arena Investors, which has relinquished conversion rights on the £3.75m convertible bond in return for warrants over 2% of the enlarged share capital. This latest loan will provide time to complete a £2.5m subscription at an indicative price of 1.7p/share, subject to due diligence. That will provide enough cash until September. The share price more than trebled on Tuesday, but it has declined by one-fifth today.

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Learning Technologies Group (LON: LTG) has been hit by disruption due to integrating operations and there has been weaker demand for transactional and project-based work. SaaS-based and long-term contracts are 71% of revenues. Interim operating profit should be £43m. Operating profit guidance has been cut to £98m-£103m, so it could be lower than in 2022. Peel Hunt had been expecting £109m. The integration improvements should start to show through in the second half. The share price slipped 18.8% to 68.7p.

Velocity Composites (LON: VEL) says the GKN contract in the US is taking longer than expected to ramp up. Cenkos has cut its 2022-23 revenue forecast for the contract £5m to £2.2m and for the group from £20.1m to £16.2m. A £2.9m loss is forecast. The GKN contract will eventually generate £15.4m/year. The share price declined 14.9% to 43p.

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