AIM movers: Premier Miton AUM start to recover and Orosur Mining drilling disappointment

Investment manager Premier Miton (LON: PMI) reported lower profit and a 24% decline in assets under management to £10.6bn in the year to September 2022. The assets under management have recovered to £11.3bn thanks to net positive inflows since September. The share price has jumped 16.9% to 107p, but it has still fallen by 45% this year. The total dividend is unchanged at 10p a share.

Positive trial results for KidneyIntelX announced yesterday have boosted the share price of diagnostics firm Renalytix (LON: RENX) by 12.1% to 92.5p. KidneyIntelX has enabled early intervention with patients before kidney disease reaches a critical point. FDA approval is possible in the next few months.

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Intercede Group (LON: IGP) chairman Royston Hoggarth has bought 50,000 shares in the cybersecurity software company at 50.9p each. This follows last week’s interims showing an improvement in profitability. The share price improved by 8.74% to 56p.

Broker Peel Hunt (LON: PEEL) has regained all the share price loss on Thursday when it reported a slump in interim profit on revenues that fell 42% to £41.1m. Low activity levels are continuing. The shares have moved 8.28% ahead to 85p. The September 2021 placing price was 228p.

Disappointing drilling results have hit the Orosur Mining Inc (LON: OMI) share price, which fell 34.5% to 8.35p. The results of four holes at the Pepas and Pupino prospects in the Anza project in Colombia failed to encounter significant anomalies. This follows much more positive results in recent months. Drilling has been suspended, but other work is being undertaken. The proposed joint venture for this project could be completed in the first quarter of 2023, which would trigger a $2m milestone payment.

ReNeuron (LON: RENE) is the latest small company to try to raise cash but find that market conditions mitigate against any fundraise. Cost savings are being made by the exosomes technology company so that the existing cash can last until the fourth quarter of 2023. Revenues are growing and the interim loss was reduced. The cash outflow from operating activities was £4.3m, while there was still £10.5m in the bank at the end of September 2022. The share price slumped 27.8% to 16.25p.

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A trading update from Light Source Technologies (LON: LST) says that farmers are reluctant to commit to capital investment and that has slowed progress leading to a higher loss in the year to November 2023. The growers are finding it difficult to pass on cost increases to customers, so they are not making the commitment to install the company’s controlled environment technology. Also, contract manufacturing margins have declined. The share price has been declining all year and fel a further 17.7% to 3.5p.

Graphene developer Directa Plus (LON: DCTA) says orders have been postponed until next year. Forecast 2022 revenues have been cut from €12.5m to €10.4m. The loss is expected to be one-quarter higher at €4.52m. Net cash is better than expected and should be €3.2m at the end of 2022 due to delayed capital spending. Next year’s loss estimate has been raised and Directa Plus could move to net debt. The share price declined by 11.1% to 74.5p.

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