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AIM weekly movers: Helium One Global making progress at Rukwa

Brain tumour treatment developer CRISM Therapeutics Corporation (LON: CRTX) has been hit by a declining share price since joining AIM via the reverse takeover of Amur Minerals Corporation at the end of May. The opening share price was 24p and it had fallen by nearly three-quarters. Non-executive director Gerry Beaney bought 25,000 shares at 9.25p each. Other than that, there was no news from the company.  CRISM has developed ChemoSeed, which is a treatment for glioblastoma and high-grade glioma, which are brain tumours where there is no current cure. It is an implantable, bioresorbable drug delivery platform. The share price recovered 200% to 15.75p.

Sancus Lending (LON: LEND) published 2023 results at the end of the previous week showing a £4.8m provision against loans made by previous management. The pro forma loan book was £202m at the end of 2023. UK property loans more than halved during the period. Withdrawal from Guernsey and Gibraltar has been completed. Revenues in the first five months of 2024 were £6.3m. There was initially a fall in the share price, but share buying by chief investment officer James Waghorn and finance director Keith Lawrence helped the share price to improve 144% to 0.55p.  

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Bluejay Mining (LON: JAY) says there are indications of potential helium and hydrogen accumulations at the Outokumpu licences in Finland. There is up to 5.6% helium and 46% hydrogen, plus other gases. Seismic data has been acquired to identify high potential areas. Helium and hydrogen is the new focus of the company. Non-exec Roderick McIllree bought six million shares at 0.35p each. The share price jumped 65% to 0.495p.

Helium One Global (LON: HE1) is making progress at the Rukwa helium project. An extended well test will start later this month. The required equipment is being delivered. A feasibility study is underway. This helped the share price rebounded 60.8% to 1.174p, which is around the level when the 0.5p/share fundraising was announced.  

FALLERS

Pipehawk (LON: PIP) shares slumped 75.3% to 2.1p because of financial difficulties at 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.

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Martin Andersson has stepped down as executive chairman Chaarat Gold Holdings (LON: CGH) as the company is in restructuring discussions with Labro Investors, which he is associated with. He remains a non-exec. David Mackenzie is acting chief executive. The company has enough cash for the next few weeks but cannot fund the $1.2m repayment due on the Labro convertible loan in September. The restructuring discussions relate to this. The share price fell 63.2% to 1.03p.

Fertiliser producer Harvest Minerals (LON: HMI) has raised £425,000 via a placing and settled £575,000 of director fees through the issue of shares at 1p each. The cash will be spent on the Arapua project to test for rare earth elements. The share price slipped 47.6% to 1.075p.

Pharma mathematical modelling services provider Physiomics (LON: PYC) raised £381,000 at 0.6p/share, which is 50% of the previous market price. A WRAP retail offer generated a further £25,000. In June 2023, £380,000 was raised at 1p/share. The cash will finance the recruitment of a head of mathematical modelling service line and investment in marketing. It also wants to build a biostatics capability and implement a personalised dosing tool on the DoseMeRx platform. The share price dipped 45.8% to 0.65p.

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