AIM movers: Helium One buys drilling rig and Totally warns of tough conditions

Helium One Global (LON: HE1) has bought an Epiroc Predator 220 drilling rig so that it can start drilling the Tai-C well at the Rukwa site in Tanzania by September. An experienced crew will be required for this. Costs will be higher as they will no longer be shared with Noble. The share price rebounded 41.2% to 7.2p, which more than makes up for the fall at the end of last week.

Knights Group Holdings (LON: KGH) grew revenues by 13% to £142.1m with the growth coming from acquisitions. Management is confident that organic growth will improve thanks to price rises and recruitment of additional fee earners by the legal services company. Pre-tax profit was 19% ahead at £21.6m. Net debt was £29.2m at the end of April 2023 with cash generation covering acquisition and dividend costs. The total dividend was raised 15% to 4.03p/share and it is covered five times by earnings. The share price has slumped by one-third this year due to concerns about the debt level, but this is a highly cash generative business. The share price recovered 9.87% to 70.1p.

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Artemis Resources Ltd (LON: ARV) has identified lithium bearing pegmatites within the Osborne joint venture, where it owns 49%. Artemis Resources has tenements adjoining the joint venture area and geochemical soils sampling data indicates elevated lithium levels. A high resolution dipole-dipole induced polarisation geophysics survey has commenced at the Lulu Creek gold prospect. Results of the moving loop electromagnetic survey of the Greater Carlow area are due to be finalised in mid-July. The share price improved 7.5% to 1.075p.

Eco Animal Health (LON: EAH) reported full year figures ahead of expectations. Revenues were 4% higher at £85.3m and pre-tax profit was flat at £3.9m. Net cash was £21.7m at the end of March 2023. Two poultry vaccines are near to submission for approvals. R&D exploration will be increased to £10.4m this year. The new products will reduce the dependence on pig treatment Aivlosin. A 2023-24 pre-tax profit of £4.3m is forecast. The share price is 7.14% higher at 105p.

Totally (LON: TLY) increased full year pre-tax profit from £1.3m to £1.8m but the healthcare services provider warns that this year will be tougher. The total dividend has been cut from 1p/share to 0.625p/share. The main growth is coming from elective care services, where Totally is helping the NHS to reduce waiting lists. The loss of four contracts hit urgent care revenues and a lack of new tenders means that it will be difficult to rebuild them. The share price dipped 22.1% to 13.25p

Petro Matad (LON: MATD) is abandoning the Velociraptor-1 exploration well in Block V of the Taats Basin in Mongolia after it intercepted water-bearing reservoirs. This was always a high risk well, but it reduces Shore’s risked NAV from 14.5p/share to 8p/share. The focus will be Block XX. The share price fell 11.3% to 4.3p.

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Scotgold Resources (LON: SGZ) revealed first half production of 2,314 ounces of gold was less than the original plan for 2023. Production rates are improving following the move from cut and fill mining to long hole stoping and grades are improving. The financial position of the company still depends on continued improvements in production and a third-party review of the current mine plan is ongoing. The share price slipped 11.4% to 15.5p.

Currency and payment services provider Argentex (LON: AGFX) increased interim revenues by 28% to £25m with strong growth for the online platform. Nigel Railton is taking over as chair from Lord Digby Jones. Although trading is in line with expectations the share price fell 10.2% to 119.5p.

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