AIM movers: Clontarf Energy Bolivian progress and Braveheart write downs

The Bolivian Authorities have confirmed that Clontarf Energy (LON: CLON) is one of 21 companies that has moved through to phase 3 of the call for bids for seven priority salt pans. The share price jumped 41.8% to 0.0475p

Data analysis provider 4GLOBAL (LON: 4GBL), which focuses on the sports market, says EBITDA will be higher than expected even though revenues were slightly lower than forecast. This is because of the transfer of clients to higher margin subscription services. EBITDA was 30% ahead in 202324 at £1.6m, compared with a forecast of £1.3m for 2023-24 and £1.6m for 2024-25. The latter forecast will be updated when the full year figures are announced. The share price improved 11.5% to 53.5p.

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Abingdon Health (LON: ABDX) says Boots has launched an own-brand saliva self-pregnancy test using its technology. This follows two other tests becoming available in Boots. Abingdon Health has other products moving from the development phase. The share price is 10.3% higher 10.75p.

Retail software provider itim Group (LON: ITIM) has secured a five-year contract renewal with Majestic Wine. This is a multi-million pounds contract. This follows the publication earlier in the week of 2023 figures showing revenues 15% higher at £16.1m. Annual recurring revenues were £13.2m. Revenues are expected to increase to £17m this year, but itim will still lose money before a potential move into profit in 2025. The share price recovered 7.14% to 37.5p.

MicroSalt (LON: SALT) has been issued a US patent for its novel low sodium salt. This relates to the better adherence to foods than traditional salt. The share price rose 4.69% to 100.5p.

FALLERS

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Braveheart Investment Group (LON: BRH) has decided to write down the value of two investments from £4.71m to zero. The share price slumped 45.3% to 4.1p.

Oracle Power (LON: ORCP) says its green hydrogen joint venture has been awarded a no objection certificate by the Sindh authorities. This provides permission for the construction of a 1.3GW renewable energy power plant. Late yesterday evening, a £300,000 share issue at 0.018p. This will be spent on projects in Australia and the joint venture green hydrogen project. The share price fell 35% to 0.0195p.

Cancer treatment developer ValiRx (LON: VAL) had £175,000 in cash at the end of 2023 after an annual pre-tax loss of £2.3m. The accounts were prepared on a going concern basis because the company is dependent on future fundraisings. ValiRx is seeking a new chief executive with experience of running larger companies. The share price declined 29.5% to 2.15p.

LifeSafe Holdings (LON: LIFS) raised £1.7m at 10p/share after the market closed on Tuesday and it has launched a retail offer to raise up to £300,000 at the same price. This offer closes on 21 May. The share price dived 26.5% to 12.5p because of the large discount. The cash will provide working capital to finance the growth of the fire safety business. LifeSafe has been moving into the industrial market and expects to announce more news relating to this and UK approvals for its fluids.

Vast Resources (LON: VAST) has raised £616,000 at 0.22p/share. This cash will finance operating expenses ahead of the structural refinancing. Tranche one of a proposed investment by a Swiss investment company should be received soon, but there is no guarantee when this will happen. Other finance will be required if this cash is not forthcoming. Vast Resources is contracted to manage the Aprelevka gold mines in Tajikistan and an updated resource report has been issued. The share price slid 22.6% to 0.24p.

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