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AIM movers: Bango slumps on disappointing revenues and unexpected costs, plus ex-dividends

Strategic Minerals (LON: SML) says that the Cobre magnetite operation has regained a major client that has ordered 30,000 tons. There could be a second contract of a similar size. This follows a halving of sales volumes in 2023. The share price jumped 50% to 0.15p.

Reabold Resources (LON: RBD) says that Shell has made the final payment for the acquisition of Corallian Energy and Reabold Resources will receive £4.4m as its share of the payment. The share price recovered 8.33% to 0.0975p.

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Third quarter trading was in line with expectations at Naked Wines (LON: WINE) with the decline in constant currency sales of 10% lower than in the previous quarter. This was the peak trading time. Quarterly operating profit is likely to be £3m-£5m. Annual costs have been reduced by £7m. Net cash is £3m and the business should become cash generative by 2025. The share price is 9% ahead at 56.7p.

XP Factory (LON: XPF) says Boom Bars generated like-for-like growth of 29% and Escape Hunt grew 17% in the past 12 months. This is much faster growth than the market. Group revenues were 95% ahead at £44.5m and this underpins the current forecast for the 15 months to March 2024. XP Factory is on course to move into profit in 2024-25. The share price is 3.23% higher at 16p.

FALLERS

Growth at payments technology company Bango (LON: BGO) was held back by contract delays. Moving into profit for the full year was always going to be a tough and Bango has fallen well short. Revenues grew 62%, which is 6% below forecasts. Bango did move into profit in the second half, but it was not enough to make the full year profitable, and the loss is likely to be around $3.7m. That is due to the high margin, lower sales, surprise costs from legacy business and negative foreign exchange movements. Bango should still move into profit in 2024 and start to generate cash after development spending. The share price slumped 36.2% to 116.5p.

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Phoenix Copper (LON: PXC) says that the pre-feasibility study for the Empire open pit copper, gold and silver deposit in Idaho is nearly complete. It should be published early in the second quarter. The share price slipped 11.6% to 15.25p.

Premier African Minerals (LON: PREM) plans to publish a resource statement for the Zulu lithium and tantalum project in the first quarter of 2024. This will be based on the tonnage of contained spodumene. The company estimates an average production cost of $800/ton of SC6, which would make production marginally profitable, but a low iron higher grade spodumene concentrate would attract a higher price. However, additional funds will be required. The share price declined 9.46% to 0.1675p.

Business software developer GetBusy (LON: GETB) announced that revenues for 2023 were in line with expectations and it is estimated to have made an adjusted loss of £600,000. The cash position is weaker than expected at £1.9m. Organic growth is set to continue. The share price had recovered strongly, but it fell 4.23% to 68p on the trading statement.

Ex-dividends

Dewhurst (LON: DWHT/DWHA) is paying a final dividend of 11p/share and the ordinary share price is unchanged at 750p and the A share price unchanged at 585p.

Elixirr International (LON: ELIX) is paying an interim dividend of 5.3p/share and the share price is down 7.5p to 582.5p.

Gooch & Housego (LON: GHH) is paying a final dividend of 8.2p/share and the share price rose 2p to 580p.

i3 Energy (LON: I3E) is paying a dividend of 0.26p/share and the share price fell 0.17p to 10.15p.

Origin Enterprises (LON: OGN) paying a final dividend of 13.65 cents/share and the share price slipped 20 cents to 310 cents.

Orchard Funding Group (LON: ORCH) is paying a final dividend of 2p/share and the share price declined 1.5p to 33p.

Premier Miton Group (LON: PMI) is paying a final dividend of 3p/share and the share price is 2.5p lower at 61p.

The Property Franchise Group (LON: TPFG) is paying a dividend of 2p/share and the share price is unchanged at 315p.

M Winkworth (LON: WINK) is paying a dividend of 3p/share and the share price is unchanged at 170p.

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