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AIM movers: Kodal Minerals lithium mine financing progresses and ex-dividends

Kodal Minerals (LON: KOD) says that Hainan Mining has received approvals from the Chinese authorities for its proposed £82m funding package for the Bougouni lithium project in Mali and £14.6m share subscription. Kodal Mining subsidiaries have to be reorganised for the conditions to be completed and that should happen by the end of April. A $7m deposit has been achieved. The share price rose 12.3% to 0.665p.

Aeorema Communications (LON: AEO) chief executive Steve Quah sold 12,437 shares at 80p each and non-exec Hannah Luffman bought the same number at the same price. She did not previously own any shares. The share price is 10.6% higher at 88.5p.

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Cyber security services provider Corero Network Security (LON: CNS) has gained significant new orders totalling $2m for its SmartWall services. The average order vale is $380,000. Sales and marketing is more targeted. There was a 8.7% recovery in the share price to 6.25p, although it has still fallen by nearly one-third so far this year.

Tlou Energy (LON: TLOU) has commenced work on the Lesedi 6 well and it plans to improve dewatering and gas flow so more gas can be extracted from the coal seam. The gas will be used to generate electricity as part of the 10MW power purchase agreement with Botswana Power Corporation. The share price is 9.09% ahead at 2.4p.

Steppe Cement Ltd (LON: STCM) was hit by significant share selling early in the morning following a decline in cement sales in the quarter to March 2023. The share price slumped 23.9% to 33.5p. The Kazakh cement market declined by 13%, compared with a 24% volume decline for the company. There were logistical problems.

The Bezant Resources (LON: BZT) share price continues to fall following the announcement it is raising £750,000 at 0.04p a share to finance operations at the Hope copper gold project in Namibia. There was a further decline of 7.61% to 0.0425p.

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Distill (LON: DIS) had a good fourth quarter of trading, relative to earlier in the year, but year-on-year sales were still lower and full year performance was still below market expectations. The move to a direct sales model in the UK by the spirits producer has taken longer than anticipated. Full year revenues are expected to be £1.32m. That means that the 2022-23 loss will be higher than expected. The share price is 5.26% lower at 0.45p.

Watkin Jones Group (LON: WJG) shares have fallen 5.47% to 90.65p after an interim trading update. Institutional interest in student accommodation and private rental developments is improving, but the figures will be second half weighted. The interim profit could be less than one-fifth of the forecast 2023-24 pre-tax profit of £50m. Net cash is £44m.

Ex-dividends

Alpha Group International (LON: ALPH) is paying a final dividend of 11p a share and the share price is unchanged at 2050p.  

Caledonia Mining Corp (LON: CMCL) is paying a dividend of 14 cents a share and the share price is unchanged at 1350p.  

Franchise Brands (LON: FRAN) is paying a final dividend of 1.1p a share and the share price rose 1.5p to 184p.  

Johnson Service Group (LON: JSG) is paying a final dividend of 1.6p a share and the share price is 1.4p higher at 121.8p.  

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