AIM movers: Image Scan rises, but ScotGold Resources reduces production guidance

X-ray screening systems developer Image Scan (LON: IGE) has risen on the back of Braveheart Investment Group (LON: BRH) acquiring a 2.37% stake last week. Braveheart Investment bought 3.25 million shares at 1p a share. That was above the market price at the time. The share price has belatedly jumped by 23.1% to 1.2p. Image Scan is loss making, but Braveheart Investment believes it has medium-term growth potential.

Tekcapital (LON: TEK) subsidiary MicroSalt is partnering with US retailer Hannaford Brothers. MicroSalt will sell low sodium salt through the retailer, which has 185 stores. Zeus has been appointed as nominated adviser and broker for MicroSalt, which plans to join AIM in 2023. The Tekcapital share price is 10.5% higher at 18.5p.

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Zephyr Energy (LON: ZPHR) is acquiring the remaining 25% working interest in the Paradox project for up to $3m in shares, as well as other non-operated near-term production assets in the Williston Basin for $2.9m in cash. An $8m working capital facility has been secured to finance the purchase and provide cash for development. The assets are in the US Rocky Mountains. Production rates are expected to treble to 4,800 barrels of oil equivalent/day by the end of 2023. The share price moved ahead by 8.26% to 5.9p.

Sanderson Design Group (LON: SDG) has signed a licensing agreement with Ruggable, through its Morris & Co brand. US-based Ruggable supplies machine washable rugs and will develop a range of rugs and cushions, which will also be sold in Canada and Australia. The share price rose 3.1% to 116.5p.

Scottish gold producer ScotGold Resources (LON: SGZ) more than doubled its loss for the year to June 2022 to A$10.5m and it has lowered production forecasts for the current quarter. Further development work means that production will be 2,000 ounces of gold, compared with a previous estimate of more than 3,000 ounces of gold. The share price fell 12.7% to 51.5p.

Infrastructure India (LON: IIP) has published its 2021-22 annual results and its interims to September 2022. The shares are down 11.1% to 0.4p, although they fell to 0.3p at one point. There are £181.7m worth of assets held for sale and disposal talks continue. There are net liabilities, but this does not take account of potential deferred consideration for one of the disposals.

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Georgia-focused oil company Block Energy (LON: BLOE) says positive well testing news means that it will pursue the Patardzeuli full-field development. The share price declined by 8.16% to 1.125p.

Eurasia Mining (LON: EUA) is still trying to sell its Russian assets, but it had no significant progress to report in its latest trading statement. This year’s total production for 2022 will be around 77% higher at 200kg of raw platinum concentrate. There is still £4m in the bank. The share price slipped 2.94% to 4.125p, having fallen below 4p at one stage.

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