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AIM movers: Pipehawk closing QM Systems and Emmerson proves effectiveness

There is a further rise in the share price of x-ray imaging technology developer Image Scan (LON: IGE) following yesterday’s announcement that it has won a £3m contract to supply ThreatScan portable x-ray systems to NP Aerospace for bomb technicians. There will be a three-month trial process before the contract commences in September. The share price is 12.8% higher at 12.8%. Thart is the highest level since November 2023.

Emmerson (LON: EML) says crop trials confirm the effectiveness of products from the KMP (Khemisset Multi-mineral Process) as a source of phosphate. The process improves potash recovery to 91% and halves water consumption. There is a non-binding offtake agreement with Hexagon, which has agreed to take up to 300,000 tons per annum of struvite-based products and 50,0000 tons per annum of vivianite-based products. Management focus is on securing environmental approval for the Khemisset potash project. The share price recovered 6.25% to 1.7p.

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Location data management services provider 1Spatial (LON: SPA) says trading is in line with expectations with new contracts in the US and Europe. There is a strong order book and substantial sales pipeline. The share price rose 1.41% to 72p.

FALLERS

Pipehawk (LON: PIP) shares have slumped 74.7% to 2.15p because of financial difficulties at test and manufacturing systems company QM Systems, which had moved to larger premises. Two large orders have not been obtained. QM Systems is likely to be put into administration. QM Systems accounted for 65% of group revenues last year and lost £970,000. The rest of the group should be able to continue as a going concern, although continuing activities made a loss in the year to June 2023.

Baron Oil has changed its name to Sunda Energy (LON: SNDA) and the share price dipped 3.03% to 0.08p.

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