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AIM movers: Kropz falls back from high and Arecor Therapeutics requires cash

Phosphate producer Kropz (LON: KRPZ) says that it knows no reason for the share price rise this morning. There has been more trading in shares since Friday afternoon and the price has fallen back from above 3p. It is still 47.5% higher at 1.8p.

There was a share price recovery in Clontarf Energy (LON: CLON) after it published 2023 figures. The share price rebounded following the disappointment in Bolivia. It failed to move through to the next stage of the bids for the seven priority salt pans in southern Bolivia. There was nearly £183,000 of cash in the bank at the end of 2023 and a further £700,000 has been raised since. The share price rebounded 32.3% to 0.0205p to a new 2024 high.

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Mkango Resources (LON: MKA) subsidiary HyProMag has signed a non-binding memorandum of understanding for its recycling technology with Envipro in Japan and the UK. There will be joint marketing of recycled magnets and a review of NdFeB scrap supply opportunities. There will be recycling trials in the UK and Europe. Mkango Resources owns 79% of HyProMag with CoTec owning the other 21%. The share price improved 22% to 7.5p.

Semiconductors designer Sondrel (LON: SND) has received UK government approval for ROX Equity Partners to subscribe £5.6m for shares at 10p each and convert loans into a further 28.7 million shares also at 10p each. The share price is 16.9% higher at 7.25p.

Mosman Oil and Gas (LON: MSMN) has sold most of its US production assets for $1m in cash and up to $750,000 in contingent consideration over three years depending on the gross production rate averaging more than 250 barrels/day. This provides cash to reinvest in helium assets. The share price rose 10.3% to 0.0375p.

FALLERS

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Eurasia Mining (LON: EUA) says that it does not no of any reason for Friday’s jump in the share price. It fell back 39.5% to 2.3p.

Arecor Therapeutics (LON: AREC) requires more cash because it remains loss making. The healthcare company says costs have increased and without savings the existing cash will run out in the third quarter. Revenues should be in line with expectations in 2024, but it does depend on the timing of licence deals. Management wants to conduct an insulin pump study for the ultra-concentrated ultra-rapid acting insulin AT278. This would provide data for potential partners. There is no current commitment to costs for the study. The share price slipped 22% to 124p.

Brave Bison (LON: BBSN) says that The Mission Group (LON: TMG) has been unwilling to engage with it about its potential offer and therefore it will not proceed with a bid. The Mission Group share price fell 11.1% to 24p, while Brave Bison declined 1.02% to 2.425p.  

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