AIM movers: Blackbird recovers after director buying and Phoenix Copper bond issue

Cloud video editing technology developer Blackbird (LON: BIRD) shares recovered following the purchases of a total of 126,427 shares by chief operating and financial officer Stephen White in two tranches at 7.85p and 8p. That takes his stake to 0.15%. The share price improved 5% to 8.4p. Earlier this week, Blackbird reported increased annual revenues by 38% to £2.85m. There are £3.43m of contracted revenues with £1.6m to be recognised this year. There was still £10m in the bank at the end of 2022. This means that there are no concerns about Blackbird having to raise additional cash. The new self-service SaaS platform aimed at creators will be launched in the fourth quarter of 2022. There will be four tiers starting at $12/month.

Cosmetics supplier Warpaint London (LON: W7L) says that last year’s strong trading momentum has continued this year. First quarter sales are expected to be at record levels with revenues of more than £16m already and 2023 revenues should be better than expected. There is cash of £7.6m. The 2022 results will be published on 26 April. The share price is 2.03% to 201.5p.

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Shares in Journeo (LON: JNEO) continue to rise following the five-year software and support services contract with Gatwick Airport valued at £500,000. Journeo has been working with Gatwick Airport on real-time passenger information systems since 2017. The share price is 3.7% higher at 154p.

Six directors of product life cycle software Sopheon (LON: SPE) have each bought 3,500 shares at prices between 665p and 700p. The 2022 results were in line with the January trading statement. Recurring revenues were 61% of the total. The share price rose 3.5% to 665p.

Phoenix Copper (LON: PXC) is finalising discussions concerning a placing of up to $80m of corporate copper bond and the coupon will be the higher of a copper price coupon or an interest rate option. The copper price coupon will be a minimum of 8.5% at $3.60 per pound and every additional $0.10 per pound would raise the coupon by 0.15%. The maximum coupon is 20%. A short-term loan facility of $2m has been secured and two million warrants exercisable at 42p have been issued to the lender. The share price slumped 21.7% to 20.75p.

Cyber security company Osirium Technologies (LON: OSI) shares continue to fall after yesterday’s full year figures showing a slightly higher loss of £3.59m and declining cash levels. Since then, £1m of annualised savings have been secured. The switch of focus to partners should accelerate customer acquisition. The decline was 14.6% to 1.75p.

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Caledonia Mining Corporation (LON: CMCL) has raised £8.7m at 1115p a share with £2.4m more to come from a placing in Zimbabwe. The share price slipped 11.3% to 1140p. The cash will be spent on accelerating work on three new gold projects in Zimbabwe. Last year, net cash generated from operating activities was $42.6m, but cash fell to $1.5m at the end of 2022 because of significant capital investment. The total dividend was increased from 50 cents a share to 56 cents a share.

In the year to November 2022, printed circuit board materials supplier Holders Technology (LON: HDT) fell into loss as it poured investment into lighting and wireless control solutions. Trading improved in the second half. There is cash of £2.27m. There will be continuing investment in broadening the product range. The share price fell 7.88% to 76p.

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