AIM movers: Naked Wines boss leaves and Anglo Asian Mining agrees environmental changes

Anglo Asian Mining (LON: AAZ) has signed an agreement with the government for its environmental action plan that will enable a restarting of agitation leaching and flotation operations at Gedabek. This should not involve significant investment. Mining will recommence ahead of processing. The high grade Gilar site will start production next year. Production of 30,000-34,000 ounces of gold equivalent is expected this year. The share price jumped by two-fifths to 70p.

Novacyt (LON: NCYT) has gained IVDR certification for its DPYD genotyping assay. This helps to identify people who could suffer a severe reaction to common chemotherapy. This is an assay that came with the acquisition of Yourgene Health. The share price is 22.4% higher at 56.5p.

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Croma Security Services (LON: CSSG) increased revenues from continuing activities by 38% to £8.03m and the gross margin increased. Underlying pre-tax profit was £400,000. Net cash is £2.1m with more to come from deferred payments for the Vigilant disposal. The share price improved 17.2% to 51p, which is the highest level since June.

Identity management software provider Intercede Group (LON: IGP) has won new contracts and renewals totalling more than $1.4m. Two of the new contracts are in the Middle East and one in North America. This will help to underpin the current forecasts. The share price rose 10.4% to 63.5p.


Naked Wines (LON: WINE) chief executive Nick Devlin has stepped down from the board, although he will continue to head up the US business until the end of peak trading, and chairman Rowan Gormley will take an executive role until a successor is identified. Nick Devlin being in charge of the US as well as the group as a whole is identified as the major problem of the group. Trading in the US is weaker than expected and group revenues could fall by up to 16%, while operating profit will be between £2m and £6m, compared with previous guidance of £8m-£12m. Sales have fallen in all the main regional markets with the 11% decline in the UK the best performance. The share price slumped by one-third to 30.15p, which is an all-time low.

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Challenger Energy (LON: CEG) has completed the sale of the Cory Moruga asset in Trinidad to Predator Oil and Gas and received $1m in cash. Challenger Energy was expecting a further payment, but this will be paid to the government instead, although the deal does remove liabilities of $4.5m. The cash can fund exploration in Uruguay. The share price declined 7.69% to 0.06p.

The SDI Group (LON: SDI) share price fell a further 3.06% to 111p, following yesterday’s acquisition of temperature sensors manufacturer Peak Sensors for £2.3m net of cash for an initial payment of £1.58m. The deal should be earnings enhancing in the first full year. Chief executive Mike Creedon bought 42,606 shares at 116p each.

Specialist maintenance and compliance services provider Kinovo (LON: KINO) increased revenues by 2% to £30.3m in the first half and gross margins improved. New regulations for electricals helped to boost higher margin demand. Canaccord Genuity maintains its full year pre-tax profit forecast at £5.8m, which is equivalent to eight times prospective earnings, at 53p, which is down 3.64%.

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