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AIM movers: Norman Broadbent grows revenues and Barryroe project rejected by Irish government

Executive search and recruitment firm Norman Broadbent (LON: NBB) grew first quarter 2023 revenues by two-thirds to £2.92m and net fee income rose by a similar proportion to £2.43m. Contracted revenues are £2.57m. The 2022 accounts should be published this month. The share price improved 11.9% to 5.875p.

Atome Energy (LON: ATOM) says it will be producing fertiliser at its hydrogen production facility in Paraguay. This will be the first industrial scale production of green fertiliser. There will be additional costs initially, but revenues will be higher with production expected to reach 250,000 tonnes per annum. The project should start production in 2025. Baker Hughes has taken a 6.6% stake in Atome Energy at a 3% premium to the previous market price.  The share price rose 10.1% to 103.5p.

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Zinc Media (LON: ZIN) has secured a deal with Idris Elba’s production company to produce PAID IN FULL: The Battle for Payback for the BBC and CBC. The programme will examine the exploitation of black artists in the music industry. The share price is 7.14% ahead at 112.5p.

Oncimmune Holdings (LON: ONC) is selling its IVD EarlyCDT Lung blood test antibody technology to US biotech Freenome for £13m. Part of the proceeds will pay down around 50% of the company’s debt and the rest will be refinanced. This enables Oncimmune to focus on the ImmunoINSIGHTS autoantibody profiling service business, where revenues are expected to double this year. The share price is 7.05% higher at 39.5p, which is still not far above the all-time low.

Lansdowne Oil & Gas (LON: LOGP) and Barryroe Offshore Energy (LON: BEY) shares have fallen because the energy minister in Ireland, who is leader of the Green party, is not willing to grant the Barryroe lease undertaking on the grounds of financial capability. Barryroe Offshore Energy had announced it had secured the required funding and there are plans to go to international arbitration. Barryroe Offshore Energy is currently raising €20m from a placing and one-for-six open offer at €0.015 a share. This had already been delayed. The Barryroe Offshre Energy share price has slumped 48.7% to 0.95p, so it is well below the open offer price. Lansdowne Oil & Gas has already invested $20m in the project and the shares dived 52.9% to 0.2p.

Petro Matad (LON: MATD) is suffering from delays to the Heron oil and gas project in Mongolia. This relates to land access. The Velociraptor-1 exploration well on Block V is due to be drilled in June and it will cost $2m. The share price is 18.7% lower at 5p.

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Gold explorer ECR Minerals (LON: ECR) says the results from drilling at three licences in Victoria, Australia are relatively disappointing. ECR Minerals is more optimistic about its interests in Queensland, where the field season is starting. The share price fell 19.1% to 0.425p.

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