AIM movers: Inspecs misses profit target and record revenues from Surgical Innovations

Helium One Global (LON: HE1) continues to attract share buyers following the news that the Itumbula West-1 has reached its total depth of 961 metres and elevated helium shows have been consistently measured. The helium shows increased in frequency and concentration in fault zones. The share price has risen a further 83.1% to 1.135p. That is 475% ahead of five days ago.

Medical instruments manufacturer Surgical Innovations (LON: SUN) expects to report record revenues of £12m for 2023, but there will still be a loss. Strikes in the NHS have hampered progress in the UK, but surgical innovations could get near to breakeven in 2024. The share price has been on a downward trajectory and they have recovered 16.7% to 0.7p, which is still more than 50% down over the past year.

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Europa Oil & Gas (LON: EOG) says that the Irish government has extended the first phase of exploration at the offshore FEL 4/19 licence to 31 January 2026. This will enable seismic data to be reprocessed and then move to securing a farm-in partner. The licence includes the Inishkea West gas prospect. The share price is 10.8% higher at 1.025p.

Corporate financial services provider Alpha Group International (LON: ALPH) has launched a £20m share buy back programme. There are plans to move to the Main Market this year. The share price improved 7.09% to 1585p.


Eyewear manufacturer Inspecs (LON: SPEC) says the improvement in profit in 2023 was not as great as expected because of weak December trading. EBITDA is likely to rise from £15.5m to £18m, whereas £20m was the consensus forecast. Revenues were flat. Net debt was £24.3m. The results will be published on 17 April. A Norwegian distributor has been acquired and the new Vietnam factory opens in the first half of 2024. The share price declined 29.5% to 61p.

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Beacon Energy (LON: BCE) has commenced sand jetting operations at the Schwarzbach-2 well in the Rhone Basin in Germany. Mechanical issues have hampered production, and this should help to improve flows. This operation is expected to cost less than €500,000. The share price fell 14.3% to 0.075p.

Serabi Gold (LON: SRB) says 7,891 ounces of gold were produced in the three months to 31 December, taking the total for the year to 33,153 ounces. The Palito and Coringa operations in Brazil generated the production. Palito has estimated reserves of 206,400 ounces. There was $11.6m in cash at the end of 2023. The share price decreased 10.5% to 38.5p.

Government plans to ban disposable vaping products has knocked 7.02% off the Supreme (LON: SUP) share price leaving it at 97p. The ban could come into force by the end of the year. Vaping was two0fifth of revenues in the latest interims, although that was a lower proportion than in the first half of the previous year. Brands include 88Vape and it also distributes ElfBar and Lost Mary products.

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