AIM movers: Quantum Blockchain mining and another disappointment for IOG

Quantum Blockchain Technologies (LON: QBT) says it intends to commence mining of other cryptocurrencies in the Bitcoin family: Bitcoin Cash and Bitcoin SV. Those currencies have much lower prices than Bitcoin, but mining is less capital intensive. The share price jumped 15.2% to 2.275p.

Audio visual products distributor Midwich Group (LON: MIDW) generated 2022 revenues of £1.2bn, up by 40%. Organic growth was 20%. This means that profit will be better than expected – consensus was £40.9m. The share price is 11% higher at 546p.

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Asia-Pacific focused oil and gas producer Jadestone Energy (LON: JSE) is making progress to restoring production at the Montara Venture FPSO in February. Additional investment in the Stag field could double production of 4,000 barrels of oil/day. The share price increased by 10.7% to 78.8p.

Video games company Team17 (LON: TM17) says trading was strong in the second half of 2022 and profit is significantly ahead of expectations. The share price is 7.88% ahead at 445p, which is back to the level at the end of 2022.

The first Southwark well had a disappointing gas flow rate and that hit the IOG (LON: IOG) share price, which is down 53.7% to 7.75p. A second well will be drilled. There is concern that the Southwark field, where £100m has been invested, may not be commercially viable. A €100m Nordic bond matures in September 2023 and this will need to be refinanced.

Omega Diagnostics (LON: ODX) has a strong order book but it will not help the year to March 2023 when revenues will be one-quarter lower than forecast and the loss will be higher. That is partly down to insufficient production capacity. The order book could be worth £5m by the end of March. The share price slumped 12.4% to 3.35p.

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N4 Pharma (LON: N4P) has completed two in vivo studies using its Nuvec delivery system that demonstrate it can be administered orally. The share price fell 8.82% to 2.05p.

Pensions administrator STM (LON: STM) says 2022 trading was broadly in line with expectations. There will be one-off costs for the integration of the Mercer pension portfolio acquired in July. There will be a three-year review of strategy and the results should be announced with the full year figures in March. The share price slipped 5.17% to 27.5p.

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