AIM movers: Emmerson shares recover

Morocco-based potash project developer Emmerson (LON: EML) has extended bank mandates for a further 12 months until the end of 2024. Emmerson is still waiting for government approval of its Environmental and Social Impact Study for the Khemisset potash mine. Emmerson has been assured that there are no further significant issues. The share price declined in the previous week, but that was more than made up for by a 54.5% increase to 2.24p.

Armstrong Investments has reduced its stake in Rosslyn Data Technologies (LON: RDT) from 7.1% to 4.6% following recent share price strength. The stake was increased to 7.1% at the end of October 2023 when the share price was around two-thirds of the price at the end of the week, which was up 43.5% to 20.3p.

- Advertisement -

Great Western Mining (LON: GWMO) says its 50/50 joint venture Western Mining has completed construction of a mill in Nevada, which will begin processing at 35t/day and ramp up to 200t/day. This will process pre-mined gold and silver material. A study of geochemical signatures of granites is being conducted at the porphyry target at the Huntoon Valley. The share price is two-fifths ahead at 0.0525p.

Plant monitoring technology developer Light Science Technologies (LON: LST) published a positive 2023 trading statement. Cost savings have helped to halve the pre-tax loss of £1.3m on revenues rising from £8.2m to £9.3m. Contract electronic manufacturing remains the largest sales contributor, although controlled environment agriculture products are growing in importance. The share price improved 23.4% to 2.9p – just below the high for the year so far.


Mercantile Ports and Logistics (LON: MPL) says some trading activity was deferred last December. Cavendish reduced its 2023 revenues forecast from £6.9m to £5.4m. Coal import to the Karanja port were lower because of destocking. The loss will be higher. Management hopes to replace the current debt facilities with a new facility with lower interest charges. Buying by directors did not help the share price. Non-exec John Fitzgerald acquired 624,419 shares at 1.5725p each and Dmitri Tsvetkov bought 617,360 shares at 1.62p each. The share price slumped 45.7% to 1.52p. The June 2023 fundraising was at 3p.

- Advertisement -

Oil and gas producer Nostra Terra Oil & Gas (LON: NTOG) is raising £300,000 at 0.12p/share and using the cash to fund drilling opportunities at Pine Mills in East Texas, where previous wells have made a good return. There are plans to add to acreage in the region. The share price fell 40.6% to 0.1025p.

UK Oil & Gas (LON: UKOG) has raised £750,000 at 0.02p/share. The company intends to submit an application in the first hydrogen storage allocation round for its hydrogen storage project in Portland, Dorset. The cash will also fund oil and gas exploration in UK and Turkey. The share price slipped 29.6% to 0.019p.

Touch sensors manufacturer Zytronic (LON: ZYT) reports a 30% decline in full year revenues to £8.6m and it fell back into loss. Gross margins were hit by higher raw material costs and product mix. Sales continue to decline this year. There are signs that there could be improvement in the second half. Net cash is £4.7m. The share price declined 28.1% to 57.5p.

Latest News

Subscribe to the UK Investor Magazine email newsletter

Register for our free email newsletter and receive the latest investment news, podcasts, event information and offers.

More Articles Like This

Tagdiv Cloud library - template content.