AIM weekly movers: Engage XR partners with Meta

0

Immersive technology developer Engage XR (LON: EXR) is unveiling its education offering at the EdTech conference Bett 2025 in London. The package has been developed for kindergarten up to 18 years old. Engage XR will be a partner with Meta for Education. The share price jumped 134% to 1.55p, having reached 2.5p – the highest it has been for nine months.

Mindflair (LON: MFAI) investee fund Sure Valley Ventures made a £1.5m investment in Vizgard, which is an AI company involved in distributed solutions for defence and public safety applications. Another portfolio company, Infinite Reality, is securing a marketplace for shares on the Nasdaq Private Market. Mindflair granted 41.5 million options exercisable at 0.25p each to two directors and an employee. This compensates for the waiving and reduction of cash remuneration. Later the company clarified the condition for the third tranche of options issued to director Nicholas Lee. This requires the share price to be above 4p for five consecutive days for the options to vest. The share price rose 64.7% to 1.4p

Managed services provider Tialis Essential IT (LON: TIA) has made a good start to 2025 with preferred partner and contract extensions totalling £17.8m. Some of these are five-year contracts and are higher margin lifecycle management contracts. The 2024 pre-tax profit is expected to be flat at £1.1m, but earnings are forecast to treble to 3.6p/share. The share price has been falling since the beginning of 2024. The share price recovered 51.2% to 32.5p.

GENinCode (LON: GENI) says that its heart disease risk assessment product CARDIO inCode is included in the US 2025 Clinical Lab Fee Schedule enabling reimbursement from Medicare and Medicaid. The price varies from $450-$570. It is also being used to prevent heart disease in Catalonia. The share price improved 47.7% to 4.8p, having been as high as 6.125p.

FALLERS

Fuel additives developer Quadrise (LON: QED) generated £4.5m via a placing at 3p/share, which was well above the minimum sought, and a retail offer could raise up to £1m more – although that figure could be increased. The money already raised will last well into 2026. Quadrise is taking advantage of the share price rise on the back of contract announcements with an impressive area of customers. The share price dipped 35.5% to 4.125p. Two months ago the share price had fallen back to 1.5325p and the current price is the highest it has been for nearly four years.

Bars operator The Revel Collective (LON: TRC) had a good Christmas, but it faces higher costs because of the National Living Wage and National Insurance increases. Annualised costs will rise by £4m. This has led to forecasts of larger than expected losses. Like-for-like Christmas revenues were 1.6% higher. Net debt is expected to be £24m at the end of June 2025. The share price declined 31.3% to 0.275p, which is a new all-time low.

Oil and gas producer Enwell Energy (LON: ENW) shares slipped 27.1% to 17.5p following news that the court in Ukraine has cancelled a previous ruling that lifted the suspensions of the Mekhediviska-Golotvshinska, Svyrydivske and Vasyschevskoye production licences. The suspension of the Mekhediviska-Golotvshinska and Svyrydivske licences is back in force. There is a continuing appeal against the ending of the suspension of the other licence, where operations continue. In the fourth quarter of 2024, average production was 2,014 barrels of oil equivalent/day, with 92 barrels/day coming from the Vasyschevskoye licence. Average production was 2,014 barrels of oil equivalent/day for 2014 as a whole.

AI-technology services provider Pri0r1ty Intelligence (LON: PR1) is forming a strategic partnership with Funding Circle, the small business loans provider. Pri0r1ty Intelligence clients will be provided access to loans of up to £750,000 via its platform. Pri0r1ty Intelligence will get an introducer commission of up to 6.5%. The fundraising for the reversal of the business into the previously listed shell Alteration Earth at the end of 2024 was done at 13.5p. Rupert Labrum, one of the original shareholders in the shell, has reduced his stake from 3.4% to 2.34%. The share price fell by one-quarter to 6p.

Burberry shares rise despite revenues decline

2

Luxury clothing brand Burberry Group (LON: BRBY) is the best performing FTSE 250 index constituent today, despite a decline in revenues in the 13 weeks to 28 December. The share price increased 13.7% to £12.175.

Third quarter revenues declined from £706m to £659m. Americas revenues were 4% higher, but Asia Pacific revenues were 9% lower, even though Japan was 4% ahead. Comparable stores sales were 4% lower. Outerwear and scarves outperformed. There was a 4% headwind due to currency movements.

The Burberry Forward strategy was launched in November to “reignite brand desire”. Visual merchandising has been enhanced in stores. It is still early days, though.

Management is hopeful that the second half performance could offset the loss in the first half. Analysts expect a return to profit in 2025-26.

AIM movers: IQE partnership and Renew hit by rail delays

0

Semiconductor wafer manufacturer IQE (LON: IQE) is partnering with Quintessent Inc to develop the world’s first large-scale quantum dot laser (QDL) and semiconductor optical amplifier (SOA) epitaxial wafer supply chain. Quintessent Inc has made an initial order of $500,000. This follows the announcement that 2024 revenues were better than expected at £118m. The loss is still likely to be more than £24m. The share price improved 12.5% to 14.85p.

Revolution Beauty (LON: REVB) shares recovered some of their loss on the back of the poor trading statement on Thursday. Fourth quarter trading to February 2025 is weak with some retail launches delayed until the first quarter of 2025-26. Full year revenues are forecast to fall by one-quarter to £143.6m and a £1.6m loss is anticipated. The share price rose 8.66% to 11.8p.

Quantum Blockchain Technologies (LON: QBT) shares rebounded 6.75% to 1.265p following yesterday’s £2m placing at 1.15p/share. The cash will be invested in its Bitcoin mining technology. Executive chairman Professor Francesco Gardin has extended his agreement with MC Strategies for the repurchase of five million shares to June 2025. The repurchase price has been raised from 3.483p/share to 3.568p/share. Last week, it announced a breakthrough for its Bitcoin Artificial Intelligence model mining tool. The Method C AI Oracle provides a 30% improved performance compared with other methods.

ITM Power (LON: ITM) is jointly developing a design configuration for a 10MW green hydrogen plant with an unnamed European energy company. This will be used in several UK projects. The design involves two 5MW NEPTUNE V electrolyser systems. The share price increased 6.46% to 36.07p/share.

FALLERS

Quadrise (LON: QED) has raised £4.5m through a placing at 3p/share and a retail offer could raise up to £1m more – although the figure could be increased. The money already raised will last well into 2026. Quadrise is taking advantage of the share price rise on the back of contract announcements and, even though the share price slumped 34.7% to 3.8p.

Engineering services Renew Holdings (LON: RNWH) has a solid track record, but this has been knocked by the timing of the rail renewal programmes. Rail is nearly two-fifths of revenues. The timing of the renewal spending is uncertain, and Peel Hunt has reduced its 2023-24 earnings forecast by 10% to 63.6p/share, down from 65.9p/share the previous year. The water business has been strong, and the order book is growing. The share price dived 22.6% to 703.5p.

Premier African Minerals (LON: PREM) has raised £540,000 at 0.02p/share. This is interim funding following the decision not to proceed with the fundraising at 0.0275p/share because the retail offer did not raise enough to reach a total raising of £3.5m. The company will require more cash and I talking to its offtake partner. The share price dipped 16% to 0.021p.

Communications and reputation software provider Pulsar Group (LON: PULS) says growth accelerated in Europe and North America in the second half, but Asia trading weakened. Annualised recurring revenues edged up to £61.7m. Reported revenues will be lower than expected. Cavendish has reduced its 2023-24 pre-tax profit expectations from £2.8m to £2.4m. The share price fell 5.05% to 51.75p.

FTSE 100 falls as new data highlights stagflation risks

The FTSE 100 fell on Friday, retreating from a series of record highs sparked by optimism about interest rates after a fresh assessment of the UK economy threw up the risks of the UK entering an environment of stagflation.

The S&P Global Flash UK PMI edged higher to 50.9, a three-month high, but sales pipeline and employment data revealed a slowing of activity. This, coupled with stubborn rates of inflation, points to stagflation and the curtailing of the Bank of England’s ability to cut interest rates.

“The first indicators of business conditions in 2025 add to the gloom about the UK economy, with companies cutting employment amid falling sales and concerns about business prospects. Inflation pressures have meanwhile reignited, pointing to a stagflationary environment which poses a growing policy quandary for the Bank of England,” explained Chris Williamson, Chief Business Economist at S&P Global Market Intelligence.

The concerns were evident in UK-focused sectors, including retailers, housebuilders and banks.

Just as markets were starting to enjoy an improvement in sentiment around the UK’s outlook, today’s data served as a reminder we’re not completely out of the woods.

Marks & Spencer shares fell 2%, while Taylor Wimpey gave up 1.5% as investors reacted to the possibility of rates staying higher for long while businesses consider cutting staff. The Labour government’s plans to hike national insurance are not helping matters.

Mining companies provided the counterbalance to weaker UK-centric stocks and helped contain losses on Friday.

“Miners were the talk of the town as base metal prices strengthened. Antofagasta, Glencore, Rio Tinto and Anglo American enjoyed decent share price gains, helping to prop up the resource-heavy FTSE 100 index,” said Russ Mould, investment director at AJ Bell.

“Copper, aluminium, lead, zinc and tin all saw higher prices amid a weaker dollar. Metals are typically priced in dollars and a decline in the US currency makes the commodities cheaper for buyers holding other currencies.

“Also putting a shine on metals prices was speculation that Donald Trump might not take the nuclear option regarding tariffs on China, potentially imposing a lower rate than has previously been suggested.”

JD Sports bucked the trend of softness in retailers following an encouraging update by Burberry, whose shares surged 13% on Friday.

Share Tip: Harworth Group trading update preview

This group is a leading sustainable regenerator of land and property for development and investment which owns, develops and manages a portfolio of over 14,000 acres of land on over 100 sites located throughout the North of England and Midlands.  
Harworth Group (LON:HWG) specialises in the regeneration of large, complex sites, in particular former industrial sites, into new Industrial & Logistics and Residential developments to create sustainable places where people want to live and work, supporting new homes, jobs and communities across the regions and delivering long-term valu...

The crucial role of e-waste recycling in ensuring a sustainable future

The extraction of critical minerals for clean energy technologies and electronic devices presents significant environmental challenges for our planet. For example, extracting a single ounce of gold can generate up to 20 tons of waste rock and tailings, often containing hazardous chemicals like cyanide and mercury used in processing. 

Similarly, platinum and palladium mining, essential for catalytic converters and electronics, also involves highly energy-intensive processes.

This blog post dives into the environmental costs of mining, sheds light on the different types of waste it generates, and highlights how recycling electronic waste or otherwise commonly known as e-waste, could significantly reduce our reliance on mining for new materials.

Environmental impact of critical mineral mining

Governments worldwide have identified critical materials essential for national security and economic stability, developing official lists of these materials to prioritise domestic production or sourcing through allied nations. These lists, such as the US Critical Minerals List (2022) and the UK Critical Minerals Strategy (2021), include key materials like lithium, cobalt, rare earth elements, and copper. 

However, there are only two ways to source these critical materials: mining and recycling.

When it comes to mining, the environmental costs are both vast and varied, leaving an indelible mark on our planet and future generations. Extracting critical minerals essential for modern technologies requires moving mountains – literally. 

Now, to put this in perspective, producing just one kilogramme of gold—the amount needed to manufacture approximately 100,000 mobile phones—requires processing a staggering 3 million kilogrammes of mineral ore. That’s the equivalent of moving the weight of 750 fully loaded garbage trucks just to extract enough gold for a fraction of the devices we use daily

The impact begins with the land itself. Vast swathes of forests and ecosystems are cleared to make way for open-pit mines, resulting in habitat destruction and the fragmentation of wildlife corridors. In fact, studies show that 8% of invertebrate species are threatened by mining activities, as disrupted ecosystems ripple far beyond the immediate excavation sites.

Then there’s the water. Mining operations often pollute local waterways through acid mine drainage, a chemical reaction that occurs when exposed sulphide minerals produce sulphuric acid. This toxic runoff dissolves heavy metals, poisoning rivers and groundwater for decades, if not centuries, after the mines have shut down.

Air quality isn’t spared either. Dust from excavation and ore crushing fills the air, while smelting and refining processes release a cocktail of pollutants. For workers and nearby communities, this can mean increased risks of respiratory diseases and other health complications.

The role of e-waste recycling in reducing mining impact

This is where recycling comes in. 

Recycling, specifically e-waste recycling offers a promising pathway to reduce the environmental burden of critical mineral extraction. Through urban mining – the process of recovering valuable materials from discarded electronic devices – we can significantly decrease the need for primary mineral extraction and mitigate its devastating environmental impacts. What’s more, the intrinsic properties of recycled materials remain undiminished, providing our finite resources with an undeniable and sustainable second life.

According to the Global E-Waste Monitor 2024, e-waste recycling has prevented the need to extract approximately 900 billion kilogrammes of ore through traditional mining methods. This reduction in mining activity equates to avoiding an estimated 52 billion kilogrammes of CO₂-equivalent emissions, a significant step toward addressing the environmental challenges of critical mineral sourcing. The majority of these savings stem from the recovery of copper (50%), followed by gold (20%) and iron (10%).

Moreover, e-waste recycling helps curtail the release of hazardous substances into the environment. Unmanaged e-waste currently emits 58 thousand kilogrammes of mercury and approximately 45 million kilogrammes of plastics containing brominated flame retardants annually. By implementing advanced recycling systems, these toxic materials can be safely captured and repurposed, preventing their harmful effects on ecosystems.

“The numbers speak volumes,” says Peter Lai, Founder and CEO of Majestic Corporation. “Every kilogramme of e-waste recycled is a step toward mitigating the environmental destruction caused by traditional mining. Recycling is not just about resource recovery – it’s about rewriting the rules for how we sustain our planet.”

The environmental damage wrought by critical mineral mining – deforestation, water pollution, and air quality degradation – demands urgent action. E-waste recycling by companies like Majestic Corporation (AQSE:MCJ) offers a tangible solution by reducing the demand for primary mineral extraction while simultaneously addressing the challenges posed by unmanaged e-waste.

Please view the article on Majestic Corporation’s website here.

Sources:

https://api.globalewaste.org/publications/file/297/Global-E-waste-Monitor-2024.pdf

https://iea.blob.core.windows.net/assets/3af7fda6-8fd9-46b7-bede-395f7f8f9943/RecyclingofCriticalMinerals.pdf

https://www.cam.ac.uk/research/news/thousands-of-birds-and-fish-threatened-by-mining-for-clean-energy-transition#:~:text=New%20research%20has%20found%20that,drilling%20for%20oil%20and%20gas.

https://www.cell.com/action/showPdf?pii=S0960-9822%2824%2900895-9

Broadening applications in the fight against sodium overconsumption with MicroSalt

The UK Investor Magazine was delighted to welcome Rick Guiney, CEO of MicroSalt, back to the podcast to review the low-sodium salt company’s progress in 2024 and outline what investors can expect in 2025.

We start with a review of the progress the company made in 2024 following MicroSalt’s IPO in February 2024. 

Rick provides an overview of recent developments, including the launch of ‘MicroSalt Premium’ and the inroads the company is making with new applications, including French fries, in the fast food industry.

We conclude with a rundown of what investors have to look forward to in the year ahead.

HarbourVest Global Private Equity records fifth consecutive month of positive net cash flow as M&A activity picks up

HarbourVest Global Private Equity’s monthly NAV update revealed strong underlying exit activity across their portfolio in December, bolstering the cash pool available for share buybacks.

The HarbourVest Global Private Equity (HVPE) Investment Trust provides public market investors with exposure to private equity through four key stages of valuation creation: Commitments, Investment, Growth, and Realisation. It is the last of these stages, the realisation of investments, that saw a big uptick in December, underpinning the current value in the trust’s share price.

HVPE reported a 0.9% decrease in its estimated Net Asset Value (NAV) per share to $52.38 in December, primarily due to unfavourable foreign exchange movements and declines in its Fund of Funds portfolio.

Despite the monthly dip, the company’s long-term performance remains strong, with a 10-year NAV growth rate of 13% annually and a total return of 233% over the same period. The share price has delivered a 13% return in sterling terms over the past year.

Realisation activity showed robust momentum in December, with the company receiving $89 million in distributions, more than double November’s figure. The company reported 43 exit transactions, significantly above the 12-month average of 33, indicating healthy market conditions. Of the 43 transactions in December, 42 were M&A, and one was an IPO.

There is a large disconnect between the underlying performance of the HVPE portfolio and the current share price, which is represented by a substantial share price discount to NAV some investors will see as an opportunity.

HVPE continues its active share buyback programme, deploying $15 million in December alone. Since launching its Distribution Pool mechanism in February 2024, the company has repurchased over $90 million worth of shares, adding 1.4% to NAV per share.

Total buybacks since September 2022 have reached $148 million, contributing a 3.1% increase to NAV per share.

HVPE’s Distribution Pool balance stood at $52.2 million at year-end, with the board indicating continued deployment for share buybacks in an effort to reduce the current share price discount to NAV.

As the Distribution Pool programme approaches its first anniversary, the board is actively engaging with shareholders to evaluate its effectiveness in managing the company’s discount to NAV.

Premier African Minerals completes interim fundraising after recent failure

After failing to secure the required amount during a recent attempt at a fundraise, Premier African Minerals has completed a much smaller placing at a much lower level. The amount raised is being seen as ‘interim’ financing, and the company will need to explore other options.

Premier African Minerals has secured £540,000 through a subscription of 2.7 billion new ordinary shares at 0.02p per share. Today’s placing follows a botched attempt to raise £3.5m last week to complete the necessary work at their lithium plant to meet the terms of a financially crippling offtake agreement.

Shareholders seem to be turning their backs on Premier African Minerals.

The company is in ongoing discussions with its prepayment and offtake partner, who recently reaffirmed their commitment to the Zulu project on 20 January. Premier is working to resolve any remaining uncertainties with this partner and continues to maintain essential operations at the Zulu Lithium and Tantalum project.

However, the company notes that this funding round is a temporary measure and does not fully meet the group’s immediate financial needs. This would suggest the next placing could be substantially lower than 0.02p if they were unable to secure the required amount at this level, and the cash raised today will do little more than keep the lights on.

“This subscription will provide working capital to both support essential operational requirements at Zulu and also allow an initial start to the infrastructure and other associated requirements for the installation of the additional float cells and assist in plant readiness for the limited test run that has been planned,” said George Roach, CEO.

“I would also like to take this opportunity to confirm that the planned management and board changes discussed in our previous announcements are expected to proceed and a further announcement in this regard will be made at the appropriate time.”

AIM movers: GENinCode reimbursement news and Revolution Beauty disappoints

1

GENinCode (LON: GENI) says that its heart disease risk assessment product CARDIO inCode is included in the US 2025 Clinical Lab Fee Schedule enabling reimbursement from Medicare and Medicaid. The price varies from $450-$570. It is also being used to prevent heart disease in Catalonia. The share price jumped 122.7% to 7.125p.

Empyrean Energy (LON: EME) has completed the acquisition of an option to participate in the Wilson River project. The share price soared 43.8% to 0.115p.

Rental housing and student accommodation developer Watkin Jones (LON: WJG) reported better than expected 2023-24 pre-tax profit of £9.2m, following the previous year’s loss. The new Refresh business generated initial revenues, and this could be a bigger opportunity than originally anticipated. Institutional investment should recover when interest rates fall. Net cash rose to £83.4m despite a £16m cash outflow for cladding remediation work provided for in the accounts previously. The share price recovered 22.5% to 24.3p.

Floorcoverings supplier Airea (LON: AIEA) had a much better second half growing by 6% and full year revenues were 0.6% ahead at £21.2m. International sales were still lower in 2024 despite a 11.8% increase in the second half. Inventory levels have been reduced. There will be non-recurring costs. The equipment is expected to be installed in the new manufacturing facility during the second quarter. An investment property worth £4.1m is still up for sale. David and Monique Newlands increased their shareholding from 11.1% to 12.4%. The share price improved 17.5% to 23.5p.

Mindflair (LON: MFAI) investee company Sure Valley Ventures has made a £1.5m investment in Vizgard, which is an AI company involved in distributed solutions for defence and public safety applications. Mindflair has also clarified the condition for the third tranche of options issued to director Nicholas Lee. This requires the share price to be above 4p for five consecutive days for the options to vest. The share price rose 16.7% to 1.225p.

FALLERS

Quantum Blockchain Technologies (LON: QBT) has raised £2m at 1.15p/share so that it can invest in its Bitcoin mining technology. Last week, it announced a breakthrough for its Bitcoin Artificial Intelligence model mining tool. The Method C AI Oracle provides a 30% improved performance compared with other methods. The company is seeking a chip manufacturing partner to produce a commercial product. The share price has lost 25.4% to 1.175p, but it is still 62% higher over the past week.

Revolution Beauty (LON: REVB) is having a poor fourth quarter to February 2025 with some retail launched delayed until the first quarter of 2025-26. This includes a launch in Walmart in the US. Online trading was also weaker than expected. Full year revenues are forecast to fall by one-quarter to £143.6m and a profit is no longer expected. A £1.6m loss is likely. The 2025-26 pre-tax profit forecast has been more than halved from £5m to £2.4m. Net debt is set to stay around £25m. The share price declined 20.3% to 11.25p.

Despite the full year results being in line with expectations shares in electronic and electro-mechanical components supplier LPA Group (LON: LPA) have slipped 14.2% to 51.5p. Revenues were 8% higher at £23.5m and the pre-tax loss was £200,000, although a R&D tax credit meant that there was a post-tax profit. A complementary line of power supply products has been acquired. A 2024-25 pre-tax profit of £400,000. It will take time for the new chief executive Philo Daniel-Tran to influence the results.

AI-technology services provider Pri0r1ty Intelligence (LON: PR1) is forming a strategic partnership with Funding Circle, the small business loans provider. Pri0r1ty Intelligence clients will be provided access to loans of up to £750,000 via its platform. Pri0r1ty Intelligence will get an introducer commission of up to 6.5%. The share price fell a further 10.7% to 6.25p. The fundraising for the reversal of the business into the previously listed shell Alteration Earth was done at 13.5p.

Ex-dividends

Brickability (LON: BRCK) is paying an interim dividend of 1.12p/share and the share price is down 2p to 57.8p.

Elixirr International (LON: ELIX) is paying an interim dividend of 6.3p/share and the share price declined 9p to 721p.

Gooch & Housego (LON: GHH) is paying a final dividend of 8.3p/share and the share price fell 9p to 451p.

Origin Enterprises (LON: OGN) is paying a final dividend of 13.65 cents/share and the share price is unchanged at 272 cents.

Solid State (LON: SOLI) is paying an interim dividend of 0.83p/share and the share price is unchanged at 152.5p.

Tracsis (LON: TRCS) is paying a final dividend of 1.3p/share and the share price is unchanged at 432.5p.

M Winkworth (LON: WINK) is paying a dividend of 3.3p/share and the share price is unchanged at 200p.