AIM-listed Advanced Oncotherapy (AVO) has announced that Odey Asset Management is coughing up another £4.5 million as part of a £6 million fundraise to add to its investment in March of £2 million, again at 25p a pop – the par price. So is this an act of faith by Odey, or a case of if you owe the bank a million quid then it is the bank which has a problem?
AIM-listed Inspirit Energy (INSP) has announced the remarkable achievement of over 30kW from a first stage build test for its waste heat recovery system. Woopie-do! But is this all it is cracked up to be, with the shares up 49% on the news?
AIM-listed and technically insolvent Barkby Group (BARK) slipped out a director share dealing announcement yesterday afternoon at 3.19pm - when anyone in the City with any sense would have been trying to get home and beat the railways strike, thus no-one-is-watching o’clock. It announced some director dealing by CFA Douglas Benzie which surely raises a Red Flag or two.
I see that shares in AIM-listed online purveyor of ladies wear Sosandar (SOS) have dropped – down by 0.5p today, to 20p and down from 22p at the start of play yesterday. But there has been no news, so why the shedding of around 10% of its value? The answer is, of course, news from rivals Asos (ASC) and Boohoo (BOO).
In an extraordinary announcement this morning, AIM-listed Vela Technologies (VELA) has announced that it has just discovered that – unbeknown to its Board – it had apparently invested £300,000 into Aquis-listed TruSpine (TSP) as part of a subscription announced by TruSpine on 31 May 2022. What???!! And then this afternoon a clarification.
AIM-listed Advanced Oncotherapy (AVO) is certainly keeping its Brokers – SI Capital and Allenby – busy. Only in April the company raised £1.7 million, although the funds weren’t in the bank when the announcement went out. In March the company rattled the tin for £2 million – plus an additional loan of another £1.5 million. Now it has rattled the tin once again – to raise just £800,000 (before expenses) as the company strains to keep its head above water.
It has all gone quiet at AIM-listed Ariana Resources (AAU) but I fancy that things are about to hot up, which may make the shares a short-term buy in advance. Of course, I seem always to find a justification for buying Ariana shares and my target price is not far off double the current mark at 3.75p. But the company is pregnant with news, much of which is due by the end of this month.
I commented only last week that whilst the receipt of $748,400 on a loan from Argentina was a welcome development, I wasn’t sure it was enough to keep the wolf from the door at AIM-listed Rurelec (RUR) – the carcass left behind after it was run into the ground by Peter Earl. Today, at 2.38pm, the company slipped out its results for calendar 2021. So how’s the cash position?
AIM-listed Haydale (HAYD) has offered up a trading update ahead of its full year to June 2022. Apparently all is well, with revenues ahead of expectations but is that really the case?
There may be signs that at last things might start to move at AIM-listed Bowleven’s jointly-owned Etinde prospect off Cameroon. It was announced this morning that chief partner and operator, New Age, has agreed to hand over the reins to Perenco as operator.
