AIM movers: Getech delays and Leeds Group becoming cash shell

Leeds Group (LON: LDSG) is selling loss-making Hemmers-Itex Textil Import Export for £657,000. Leeds Group will retain three properties worth £5.21m. The disposal requires approval by shareholder and German authorities. The company will no longer have any trading activities and will become a cash shell. The share price has recovered 21.1% to 11.5p.

Future Metals (LON: FME) is raising £1.7m from a one-for-four entitlement issue at 1.6p/depositary interest. The cash will be used for drilling and exploration at the Eileen Bore project and to progress the feasibility study for the Panton Project.  The share price is 13% higher at 1.525p.

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UK Oil & Gas (LON: UKOG) says the explosives permits have been secured for the penetration of Pinarova’s 9.625-inch casing. UK Oil & Gas has a 50% non-operated interest in Pinarova-1. The operator AME will decide the date for the resumption of testing. The share price is 10.6% ahead at 0.026p.

Foundries operator Chamberlin (LON: CMH) has received more than £1.85m of orders for its Scunthorpe-based large cast iron products foundry during November. The current order book is worth £4m. Group revenues and pre-tax profit are expected to grow this year. The share price increased 10% to 0.44p.


Getech (LON: GTC) says delays in projects mean that full year revenues will fall short of forecasts. Cavendish has cut its expectations from £5.1m to £4.2m. Getech is cutting costs, but the 2023 loss is likely to rise from £3.1m to £4.4m. H2 Green is being scaled back and partners are sought. Getech has been diversifying away from oil and gas data into developing critical metals and green energy activities. Getech has still not sold Kitson House to bring in additional working capital. The share price slumped 26.2% to 5.35p.

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Jubilee Metals Group (LON: JLP) is raising £10m at 5.5p/share. This will be spent on a copper waste rock dump in Zambia. There could be 350 million tonnes at sampled grades of 1.5% copper. Jubilee Metals will form a special purpose vehicle with International Resources Holding RSC and Jubilee Metals will own a minimum of 30%. The waste rock dump will cost $30m, payable in stages. The share price slipped 16.9% to 5.65p.

XL Media (LON: XLM) has lowered guidance for the full year. The online performance-based marketing company says December trading will fall short of expectations. Cavendish has cut its revenues forecast from $57m to $50m, while earnings have been slashed by two-fifths to 2.3 cents/share.  The share price declined 11.7% to 6.5p.

Atlantic Lithium (LON: ALL) has completed a placing raising £4.2m at 23.35p/share. This will fund the development of the lithium project in Ghana. The share price fell 6.18% to 23.55p.

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