AIM movers: Bidstack reaches €3m settlement and Bermuda authorities ask for review at R&Q Insurance

The Bidstack (LON: BIDS) share price has doubled to 0.65p and it was higher earlier in the day. The in-game advertising technology provider has reached a settlement with Azerion, which will pay €3m. The two parties will form a new non-exclusive commercial partnership in 2024.

Webis (LON: WEB) US subsidiary WatchandWager.com has renewed an agreement with Monarch Content Management to accept wagers on all the latter’s 15 racetracks in 2024. The company has also renewed its regulatory licences. The share price is 30% ahead at 1.3p.

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Georgia-focused oil and gas producer Block Energy (LON: BLOE) is ready to farm-out the project III asset of multi-TCF undeveloped gas resource. This could have a material impact on NAV. Current production should generate the cash required to fund its strategy. Management will stop publishing quarterly reports. The share price increased 12.1% to 0.925p.

Vela Technologies (LON: VELA) says that Conduit Pharmaceuticals published a prospectus on 15 December and since then it has been able to sell shares received via the AZD 1656 put option. Vela Technologies received just over one million Conduit Pharmaceuticals shares. There was £31,000 in cash at the end of September 2023. NAV was £7.5m, compared with a market capitalisation of £3.7m at 0.0255p, up 10.9%.  


The Bermuda Monetary Authority has asked R&Q Insurance Holdings (LON: RQIH) to provide an independent actuarial review of the required reserves, capital and cash flow projections following the planned disposal of the Accredited business. Any new external transactions will have to be put on hold and is not allowed to redeem $20m in subordinated notes until after the review. The share price slumped 21.9% to a new low of 8.59p.

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European Metals Holdings (LON: EMH) says that the definitive feasibility study for the Cinovec lithium project in the Czech Republic has been delayed until the first quarter of 2024. This will allow time to complete capital and operating cost estimation and project implementation scheduling. The share price slipped 18.8% to 20.5p.

Cleantech company Verditek (LON: VDTK) has adjourned the general meeting to increase the authority to allot shares. There have been discussions with shareholders concerning the way to finance the business. The share price is 7.89% lower at 0.175p.

Tungsten West (LON: TUN) had cash of £1.4m at the end of September 2023. Plant upgrade projects at the Hemerdon mine in southwest England will recommence after the outcome of the permit application and financing has been obtained. Interim revenues increased from £208,000 to £722,000 as tungsten was produced from legacy materials. The loss increased from £5.13m to £9.13m. The share price fell 7.69% to 1.2p.

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