AIM movers: Director buying at Bradda Head and Circle Property return of cash

Bradda Head Lithium (LON: BHL) director Jim Mellon acquired eight million shares at 4.5p each, taking his stake to 18.7%. The share price increased 28.9% to 6.25p. The lithium explorer has acquired three additional inlier lode claims in Arizona.

Spectral MD (LON: SMD) reached its highest level since 2021 following announcement earlier this week that it is merging with Nasdaq-listed SPAC Rosecliff Acquisition Corp 1. The share price is 22.2% higher at 44p. The deal values Spectral MD at $170m, or 101p a share. The AIM quotation will be cancelled. There is likely to be a $15m placing. This will provide additional cash to finance the commercialisation of the DeepView woundcare analysis technology. The transaction should complete in the third quarter.

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Kodal Minerals (LON: KOD) has risen a further 15.5 % to 0.79p following yesterday’s announcement that Hainan Mining has received approvals from the Chinese authorities for its proposed £82m funding package for the Bougouni lithium project in Mali and £14.6m share subscription in Kodal Mining. A $7m deposit has already been achieved. This is the highest the share price has been since 2014.

One trade worth £6,000 has pushed up the Gunsynd (LON: GUN) share price by 9.59% to 0.4p. Investee company Omega Oil and Gas (ASX: OMA) says initial results from the Canyon-2 well in Queensland have exceeded expectations.

Circle Property (LON: CRC) shares have gone ex-entitlement for the £16.1m return of capital. That is equivalent to 55p a share. The share price is 32.5p lower at 22.5p.

In-content advertising technology company Mirriad Advertising (LON: MIRI) says that there is no prospect of a bid. The share price has slumped 34.5% to 0.95p. There was £7.5m in the bank at the end of March. Management is seeking a source of more funding, but there is no certainty that more cash will be secured. Mirriad is partnering with broadband and video delivery services provider Harmonic Inc to help broadcasters to target audiences.

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Van Elle (LON: VANL) says that 2022-23 results will be in line with previously upgraded expectations. However, next year’s forecast is being downgraded. The ground engineering contractor says the construction sector has been slowing down and there are continuing supply issues. The 2022-23 pre-tax profit forecast is £5.2m, while the 2023-24 forecast has been cut from £6m to £5m. The share price has fallen 10% to 45p.

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