AIM movers: Kooth trading holding up despite US government spending concerns and Kromek receives $5m from Siemens

Andrew Hore
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AIM movers: Kooth trading holding up despite US government spending concerns and Kromek receives $5m from Siemens

Alien Metals (LON: UFO) has amended last week’s announcement about silver assays from fieldwork at the Elizabeth Hill project, which was based on information released by its partner Errawarra Resources. Within the notable assay results, in one result 0.06% copper was amended to 0.1% copper. Silver assays of up to 490g/t were found in samples. The share price rose 17.3% to 0.1525p, adding to last week’s outperformance.

Late on Friday, Premier African Minerals (LON: PREM) reported positive news concerning the spodumene processing plant at the Zulu lithium and tantalum project. Previous problems have been identified, and operational changes should cure them. The share price recovered 9.8% to 0.028p.

Avacta (LON: AVCT) is selling Coris Bioconcept to 3B BlackBio Dx for an initial payment of £2.15m with an earn-out of up to £615,000. The business was loss-making. Avacta will focus on developing its peptide drug conjugate pipeline. The share price increased 8.65% to 51.5p.

OptiBiotix Health (LON: OPTI) doubled gross revenues to £557,000 in the six months to June 2025, while gross margin improved to 54%. The second half will benefit from a reduction in overheads. Cash was £1.3m at the end of June 2025.  The share price improved 4.35% to 12p.

FALLERS

Active Energy Group (LON: AEG) is updating its digital asset treasury strategy. It proposes to put an equal proportion of its discretionary allocation in Ethereum and Solana. Bitcoin will still be held. The share price dipped 15.8% to 0.16p.

Digital mental health services provider Kooth (LON: KOO) says trading in California is in line with management expectations and there has been a positive impact report. Demand outstrip supply, although US federal cuts to healthcare spending could impact programmes. UK trading is steady. Net cash was £15.1m at the end of June 2025. The US dollar exchange rate will hold back revenues and profit. Kooth has strengthened its management team in the US and Kate Newhouse has taken over as chief executive. The share price declined 9.94% to 163p.

Oracle Power (LON: ORCP) chief executive Naheed Memon has been appointed to Pakistan’s National Hydrogen Working Group. Oracle Power has a green hydrogen project in Sindh province. The share price fell 5.84% to 0.0145p.

Coro Energy (LON: CORO) has completed the placing raising £1.64m 0.5p/share. A retail offer could raise a further £100,000 and closes on 31 July. The general meeting to gain shareholder approval should be held on 14 August. The cash will finance rooftop solar and battery storage projects in Vietnam. There will be a strategic review of wind and solar projects in the Philippines. There will be a further cash injection when the sale of the company’s 15% interest in the Duyung PSC is approved by the Indonesian authorities. The share price slipped 4.76% to 0.5p.

Advanced imaging technology developer Kromek (LON: KMK) has received $5m from Siemens, which is the second instalment of the non-exclusive agreement CZT detectors for SPECT applications, and it follows the delivery of certain milestones. So far, $30m has been received and there are further payments totalling $7.5m due, with the next instalment likely in the year to April 2027. The share price decreased 2.63% to 5.55p.

Gold and EUR/USD fall as EU/US trade deal announced

UK Investor Magazine
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2
Gold and EUR/USD fall as EU/US trade deal announced

Gold and EUR/USD fell on Monday as the dollar strengthened following the announcement of the EU/US trade deal.

Gold extended declines as the safe-haven trade lost its appeal and the dollar rallied.

“Gold has experienced three consecutive sessions of decline, shedding nearly $100/oz from its recent peak around $3,440/oz,” said Linh Tran, Market Analyst at XS.com.

“This is a significant correction, reflecting a shift in short-term market sentiment and indicating that the precious metal is currently under pressure from both economic and geopolitical factors.

“One of the key drivers behind this pullback stems from a series of positive signals on the global trade front. The recently announced U.S.–Japan trade agreement has rekindled hopes of easing global trade tensions. More notably, over the past weekend, the United States and the European Union reached a framework trade deal aimed at averting a full-blown trade war, agreeing to impose a 15% tariff on most goods instead of the higher rates previously feared.”

Traders may have been surprised to see EUR/USD fall in the wake of the EU/US trade deal, but the Euro had performed strongly going into the announcements and was due a technical pullback. There is also an element of caution driving trade on Monday, with risk events including the July Non-Farm Payrolls scheduled for this week.

London BTC Company shares in freefall – is the stock primed for a rebound?

UK Investor Magazine
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0
London BTC Company shares in freefall – is the stock primed for a rebound?

It’s been one-way traffic for London BTC Company shares since the firm changed its name from Vinanz, and the CEO said it was ‘doubling down’ on its Bitcoin strategy.

Investors in recent placings and retail offers at 13p and 18.5p are now heavily underwater, with the London BTC Company falling nearly every day since the fundraises.

That said, early investors who participated in fundraises in early June before the company’s shares spiked above 60p would have done very well indeed – should they have sold before the shares tumbled.

Investors should note that the dramatic erosion in value for BTC shareholders has unfolded despite Bitcoin prices reaching all-time highs last week.

With shares now trading at less than a fifth of their recent highs, is the London BTC Company primed for a rebound?

Unlike many London-listed companies jumping on the Bitcoin treasury bandwagon, the London BTC Company actually holds a substantial Bitcoin position, and has a good reason to – it’s a Bitcoin miner. According to the most recent Bitcoin purchase update, the company has 85.97 Bitcoin in its treasury, worth around $10.4m at current prices.

Despite the robust holding, a sizeable premium remains in the company’s shares compared to the underlying value of their crypto treasury. The London BTC Company is trading at around 3x mNAV. This is on the punchy side, although it’s not as high as other London-listed Bitcoin treasury vehicles.

In addition to its treasury, BTC also has underlying Bitcoin mining operations that need to be taken into consideration by investors.

In the 18 months to 28 February, the firm generated £957,473 from mining operations, resulting in a gross profit of £171,709.

The company has since expanded its Bitcoin mining fleet, and Bitcoin prices have increased. As a result, it should be generating more revenue and, consequently, higher gross profits.

However, administration costs (excluding share-based payments) were running at nearly £2m over the 18-month period, so the Bitcoin business mining operation is still likely to be running at a loss, or at best, breakeven. Should operations fail to become cash positive, BTC may be forced to sell Bitcoin to cover running costs – or raise further cash.

It will take a brave investor prepared to lose a substantial proportion of their investment to buy the London BTC Company shares at current levels, but a relief rally isn’t entirely unimaginable.

ConvaTec Group: FTSE 100 medical solutions group’s Interims tomorrow will highlight its ongoing growth

Mark Watson-Mitchell
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ConvaTec Group: FTSE 100 medical solutions group’s Interims tomorrow will highlight its ongoing growth

Tomorrow morning, Tuesday 29th July, will see the £5.4bn capitalised ConvaTec Group (LON:CTEC) announce its Interim Results for the half-year to end-June, they may not show any surprises, but they should help to showcase the underrating of its shares.
The Business
It was in the 1960’s that Dr James Chen researched masses of formulations that led to the invention of the first hydrocolloid medical adhesive for use in dental surgery, for which it was granted a patent in 1967.
That technology brought about the group’s first product, the Stomahesive® skin barrier, launched after Convatec was founde...

Wood Group takeover deadline extended, shares remain suspended

UK Investor Magazine
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0
Wood Group takeover deadline extended, shares remain suspended

The Wood Group takeover saga rolls on. The embattled group has yet to receive a firm offer from Sidara, and Wood Group shares remain suspended due to their failure to publish their annual accounts by the end of 2024.

Wood Group has secured an extension until 25 August for potential acquirer Sidara to make a firm takeover offer, following progress on crucial financing arrangements that underpin the proposed 35p per share deal.

Today’s release comes after the Financial Times reported that Sidara were considering lowering its offer price for Wood Group.

Wood’s board had previously indicated it would be minded to recommend the 35p cash offer to shareholders, subject to full terms and conditions.

In addition to the update on the takeover period, the engineering services company announced that commercial alignment has been reached on headline terms for refinancing its debt facilities, a key prerequisite for the takeover by Dar Al-Handasah Consultants (Sidara).

The proposed refinancing package includes extending Wood’s committed debt facilities to October 2028 and establishing new bonding facilities to meet operational requirements. These arrangements, combined with Wood’s existing facilities and an initial $250 million liquidity injection from Sidara, would benefit from comprehensive security guarantees.

Crucially, the refinancing would convert temporary covenant waivers—previously extended to 31 July—into permanent arrangements. However, not all lenders have engaged with the proposals, meaning Wood may need to implement changes through a Scottish scheme of arrangement, which requires approval from a majority of lenders representing 75% by value.

Should the Sidara offer fail to materialise, commercial terms have been agreed for a shorter-term stability arrangement that would provide Wood with a platform to develop alternative refinancing options.

Wood Group shares remain suspended, but the company said that it continues to work with its auditor on publishing its 2024 accounts, which are required for shares to resume trading.

Given the uncertainty around the Sidara takeover offer, it’s probably a good thing for shareholders that shares remain suspended.

Aquis weekly movers: Watchstone cash return

Andrew Hore
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Aquis weekly movers: Watchstone cash return

Watchstone Group (LON: WTG) plans to gain approval for the reduction of the share premium account by £1m so £850,000 can be returned to shareholders, which is equivalent to 1.85p/share. The company will leave Aqui on 1 August. The share price jumped 64.7% to 1.4p.

IntelliAM AI (LON: INT) has appointed James Gayton as vice president of sales. The share price increased 28.6% to 135p.

Phoenix Digital Assets (LON: PNIX) director Jonathan Hives sold 250,000 shares at 6.14p each. The share price rose 3.64% to 5.7p.

FALLERS

A share purchase in Time to Act (LON: TTA) at 13p/share knocked the price by 69.3% to 11.5p.

Coinsilium (LON: COIN) has raised £5m from a placing at 6p/share and a retail offer raised the full £500,000 on offer, having received applications for four times that amount. The cash will be used for the Bitcoin treasury strategy. The share price slumped 60.6% to 6.5p.

Wishbone Gold (LON: WSBN) says drilling has commenced at the Red Setter Gold Dome project in Western Australia. The share price slipped 31.3% to 0.395p.

The Smarter Web Company (SWC) has 1,825 Bitcoin that cost £146.9m. In the six months to April 2025, the company lost £720,000. This was before the flotation on Aquis and the money subsequently raised. The share price fell back 21.6% to 217.5p.

Vaultz Capital (LON: V3TC) has added a further 20 Bitcoin taking the total to 70, which cost £5.79m. Recently appointed director Sarah Gow bought a further 100,000 shares at 10.39p each. The share price fell 8.11% to 8.5p.

Ormonde Mining (LON: ORM) has issued five million shares to AIM-quoted cybersecurity company Shearwater Group (LON: SWG) in return for two exploration licences in Spain. The share price decreased 8% to 0.115p.

Amazing AI (LON: AAI) chief executive Paul Mathieson bought 560,000 shares at 0.7p each. The share price slid 7.41% to 0.625p.

NYCE International (LON: NYCE) generated revenues of £104,000 in the quarter to June 2025. The loss was £159,000. The company has launched a new crypto advisory business focused on the igaming sector. The share price dipped 6.25% to 0.075p.

Arbuthnot Banking (LON: ARBB) reported a slump in pre-tax profit from £20.8m to £10.9m, despite lower than expected impairments. The interim dividend was raised by 10% to 22p/share. NAV is 1649p/share. Shore has reduced its full year pre-tax profit forecast from £28.5m to £25.9m. The share price fell 3.65% to 925p.

AIM weekly movers: At last some good news for Surface Transforms

Andrew Hore
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5
AIM weekly movers: At last some good news for Surface Transforms

Ceramic brake technology developer Surface Transforms (LON: SCE) says first half revenues are 72% ahead at £8.1m. Second half revenues could approach £10m. Production yields have improved to 77%. This is finally some good news. Production problems have held up progress despite significant orders. Gross cash was £1.2m at the end of June 2025, while there has been £9.8m drawn down from the available loan. Cash advances from customers are £12.9m. Zeus believes that at current production rates the company could reach EBITDA breakeven by the end of the year. The share price recovered 52.9% to 1.3p.

Broadcast technology supplier Pebble Beach Systems (LON: PEB) increased interim revenues by 13% to £5.9m and margins have improved due to cost cutting. Order intake was one-third higher. Cavendish has raised its full year pre-tax profit forecast from £1.9m to £2.4m on maintained expected revenues of £11.5m. The share price improved 52.8% to 13.75p.

Artemis Resources (LON: ARV) has received commitments to raise A$4.75m at A$0.004/share. This will fund gold exploration at Carlow, Titan and Cassowary. The share price reacted positively to the news, rising 48.6% to 0.275p, and it is above the level prior to the halting of trading on ASX.  

Daniel Holliday has raised his shareholding in supercapacitor technology company Cap-XX (LON: CPX) from 5.18% to 8.19%. The share price increased 46.2% to 0.38p.

FALLERS

Jangada Mines (LON: JAN) has signed heads of term for the potential acquisition of 33.3% of MTGOLD MINERACAO, the owner of the Paranaita gold project in Brazil, with an option to increase the stake to 50.1%. The initial cost is £1m worth of shares and £250,000 in cash. Jangada Mines has raised £800,000 at 0.6p/share and directors are converting £350,000 of fees into shares at the same price. Paranaita has a measured, indicated and inferred gold resource of 210,000 ounces at a grade of 3.165g/t. The share price dived 47.5% to 0.525p.

Union Jack Oil (LON: UJO) raised £2m at 5p/share and each share comes with a warrant exercisable at 8p each. The cash will fund three wells in Oklahoma. If successful, these wells can start generating cash relatively quickly. Each well could be worth around $2m on a risked basis. There is also potential for additional cash flow from Wressle in the UK. On top of the 3 million shares purchased in the fundraising non-exec Craig Howie bought 255,000 shares at 4.868p each. This is his total shareholding. The share price slipped 39.8% to 5p.

Fire prevention fluids developer LifeSafe Holdings (LON: LIFS) says first half revenues fell from £1.6m to £900,000 due to the change in sales model. There was also an unauthorised reseller on Amazon in the US. The loss increased. Management is hopeful of significant US orders in the second half. Cash was £140,000 at the end of June 2025. The share price deceased 37% to 4.25p.

K3 Business Technology (LON: KBT) bought back 34.1 million shares in a tender offer at 85p/share. Lombard Odier’s stake increased from 12.7% to 14.3%. Dealings on AIM end on 30 July. The share price dipped 35.5% to 50p.

Director deals: Corero executives buy following profit warning

Andrew Hore
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0
Director deals: Corero executives buy following profit warning

Following a disappointing trading statement by cyber security hardware and software provider Corero Network Security (LON: CNS) executives have been buying shares. Finance director Chris Goulden acquired 220,264 shares That takes his stake to 360,887 shares. The other shares were bought for 17.78p each back in January. He was appointed to the board on 1 April. Company secretary Emma Rockey bought an initial 79,660 shares at 9.4p each.
Following the 2024 results chief executive Carl Herberger bought 246,095 shares at 15.31p each, taking his stake to 1.7 million shares.
Business
Corero Network S...

FTSE 100 slips as investors pause for breath

UK Investor Magazine
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3
FTSE 100 slips as investors pause for breath

The FTSE 100 slipped on Friday as investors paused for breath after a rip-roaring rally driven by hopes of an EU/US trade deal and strong corporate earnings.

London’s leading index was down 0.3% at the time of writing, but it is still 10% higher year-to-date. This outstrips the S&P 500’s 8% gain but lags the German DAX’s stellar 20% rally.

“The FTSE 100 lost some ground as investors took stock after another breathless week for the markets,” says AJ Bell investment director Russ Mould.

“There was positive economic news from the UK as retail sales bounced back in June helped by warm weather – although beyond the headline there were several signs that consumer confidence remains fragile.

“The next big focus for the market is whether a deal can be struck between the EU and Trump administration on trade – which would remove one of the biggest remaining uncertainties ahead of next week’s tariff deadline.”

The ultimate driving force of equity returns is earnings, and on that front, investors will be encouraged by the latest round of updates from both UK and US companies.

NatWest was London’s standout corporate story on Friday, as the bank rallied by more than 2% after announcing rising profits and rewarding shareholders with a dividend hike and a share buyback.

“NatWest has given investors reason to cheer heading into the weekend with a broad-based beat this morning,” explained Matt Britzman, senior equity analyst, Hargreaves Lansdown.

“It’s a similar story to Lloyds yesterday, with better impairments doing most of the work to bring profits in a good clip above expectations. Unlike Lloyds, NatWest has taken the opportunity to raise its guidance, though this simply aligns management to where consensus is already sitting.”

However, NatWest was just one of 20 FTSE 100 gainers on Friday as most stocks traded negatively.

The London Stock Exchange Group fell 2% and was the FTSE 100’s top faller as the group extended a losing streak that has taken the shares to the lowest levels since July 2024.

Rightmove was among the fallers despite reporting a 10% increase in revenue in the first half and a 9% increase in the interim dividend.

AIM movers: Metals One buying uranium assets from Thor Energy and higher loss at LifeSafe

Andrew Hore
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1
AIM movers: Metals One buying uranium assets from Thor Energy and higher loss at LifeSafe

Daniel Holliday has raised his shareholding in supercapacitor technology company Cap-XX (LON: CPX) from 5.18% to 8.19%. The share price rose 8.33% to 0.39p.

Metals One (LON: MET1) has agreed terms to buy 75% of two US companies with uranium and vanadium claims in Colorado and Utah. There is a 12-month option to acquire the other 25%. The seller is Thor Energy (LON: THR). Metals One will pay £100,000 for the exclusive rights to the deal and then pay £1m in shares for the 75% stake. The share price increased 4.52% to 8.7795p. The Thor Energy share price improved 5.26% to 0.5p.

Virtual product placement services provider Mirriad Advertising (LON: MIRI) will provide virtual product placement for Middle East advertising business MBC Media Solutions. Mirriad Advertising generated revenues of £200,000 in the first half of 2025. Cash outflow is £220,000/month. At one point the share price was one-fifth higher, but it has lost most of the early gains and is up 2.46% to 0.0125p.

AI company Pri0r1ty Intelligence (LON: PR1) has launched the Lightning Network Routing Node for Bitcoin transactions. This enables customers to make Bitcoin payments, and the company will receive a routing fee. The share price has been volatile this morning, and it is 12.2% ahead at 4.15p.

FALLERS

Fire prevention fluids developer LifeSafe Holdings (LON: LIFS) says first half revenues fell from £1.6m to £900,000 due to the change in sales model. There was also an unauthorised reseller on Amazon in the US. The loss increased. Management is hopeful of significant US orders in the second half. Cash was £140,000 at the end of June 2025. The share price slipped 18.5% to 5.5p.

Aquaculture company Benchmark Holdings (LON: BMK) purchased 127.7 million through the tender offer at 25p/share – a total of £31.9m. That was 56.3% of the maximum that could be purchased. The share price reduced by 11.2% to 20.6p.

FIH Group (LON: FIH) fell into loss in the year to March 2025 due to weak trading in the Falkland Islands. Even so, the total dividend is maintained at 6.75p/share. The Portsmouth Harbour Ferry Company and fine art storage business Momart both reported reduced profit. New management has been appointed in the Falkland Islands. The share price declined 4.15% to 185p.

Fire safety technology developer Zenova Group (LON: ZED) has signed a UK distribution agreement with Firefighting Supplies. This is a new company, but it is run by an experienced industry participant. The initial order is for 200 Zenova FX 6L fire extinguishers, with a further 2,000 for future delivery. This should generate revenues of more than £125,000. The share price fell 6.12% to 0.23p.

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