AIM movers: Bango share price recovers and Bens Creek financial problems

David and Monique Newlands have reduced their stake in Byotrol (LON: BYOT) to below 3% ahead of the cancelation of the AIM quotation. The share price rose by one-third to 0.1p.

In-content advertising company Mirriad Advertising (LON: MIRI) has entered a strategic agreement with TripleLift Inc, which has a supply-side platform for advertising formats. The platform will be used for automated selling of in-content advertising slots from Mirriad’s partners into media buying platforms, which can buy slots for their clients. The share price improved 22.9% to 2.15p.

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Cora Gold (LON: CORA) is about to start drilling at the Madina Foulbe gold permit in the Keneiba project area in east Senegal. The drilling should be completed in May. The share price increased by one-fifth to 2.1p.

There were no more negatives in the digital content payments and subscriptions company Bango (LON: BGO) 2023 figures following its disappointing trading statement earlier in the year. The previously announced foreign exchange loss was not taken through the income statement. Revenues grew from $28.5m to $46.1m with a full contribution from DOCOMO. The reported loss jumped from $4.8m to $10.2m. The NewDeep joint venture is being wound down so that stop the losses from it, while the technology can be used in the core business. Net debt is $3.9m. Capex continues at a high level and there is an unused overdraft facility of £3m that can be used. First quarter revenues are up by one-fifth and cost savings will help Bango achieve the anticipated move into profit this year. Annualised recurring revenues are $11m. The share price recovered 9.81% to 117.5p and it was higher in the day.


Bens Creek (LON: BEN) has secured a one-off sale of 20,000 tons of coal to 29.9% shareholder Avani Resources for $1.2m, of which $1m has been received in advance of delivery. This is lower quality coal, and the deal is separate to the offtake agreement. This helps to alleviate the poor financial position of the US-based metallurgical coal miner. Production levels have been reduced due to problems at the mine and more funds will be required. The share price slumped 25.2% to 1.1p.

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Moroccan potash project developer Emmerson (LON: EML) is raising $2.175m at 1.75p. The share price declined 15.9% to 1.85p. The new investors are Global Sustainable Minerals and Gold Quay Capital. The cash will finance the feasibility study for a new processing route and the EIA process. A REX retail offer of up to £240,000 has been launched and closes at 1pm.

Serabi Gold (LON: SRB) has announced information about exploration activities at the Palito Complex in Brazil, which identified prospective copper porphyry targets. The drilling was undertaken with Vale, which has withdrawn from the exploration joint venture. Other companies are other partners are interested. There are also results from drilling at the Sao Domingo gold target. The share price fell 5.04% to 66p.

Oil and gas producer Caspian Sunrise (LON: CASP) is paying up to $15m in cash and shared for CS Energy, which holds licences to the West Shalva contract area in Kazakhstan. This is near to the Shalva field. This is a lower risk asset because the oil is at shallower depths. The initial payment is $5m in shares at 4p each. The owner is an existing shareholder in Caspian Sunrise. The share price dipped 6.49% to 3.6p.

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