Welcome to Working Lunch on.... Tuesday 1st July 2023
RISERS
Cellular Goods - Cellular Goods open sales in France and Germany
Cellular Goods a UK-based wellness company providing premium consumer products formulated with lab-produced cannabinoids, is pleased to announce that products in its 'Look Better' (skincare) range will soon be available to purchase for the first time in France and Germany.
Cellular Goods will be opening sales from its ecommerce website for shipping to France and Germany from the Autumn, as we begin building momentum for the peak Christmas shopping period.
Aterian - Lithium Joint Venture with Rio Tinto in Rwanda
Highlights:
· RIO has the option to invest US$7.5 million in two stages to earn up to a 75% interest in the Licence to explore for minerals vital for a successful energy transition to renewable energy.
o Stage 1 exploration expenditures of US$3 million over a period of up to two years to earn a 51% interest in the Licence.
o Stage 2 exploration expenditures of US$4.5 million over a follow-on period of up to three years to earn a further 24% interest in the Licence, taking RIO's interest in the Licence to 75%.
· Cash consideration of US$300,000 over the two stages.
FALLERS
Wishbone Gold - Equity Raise
Wishbone is pleased to announce it has raised £1.42m gross at a price of 2.4 pence per share and will be issuing a total of 59,059,997 new ordinary shares of 0.1 pence each (the "Ordinary Shares"). This represents an oversubscription of 42% against the initial target subscription of £1m.
The net proceeds will provide additional working capital for the Company but will primarily be used to fund the exploration programs on Red Setter and Cottesloe.
MOST FOLLOWED
Aterian #ATN
MOST READ RNS
Harland & Wolff - Contract Win - Heavy Lift Vessel
Contract Win - Heavy Lift Vessel in Belfast
Harland & Wolff Group Holdings plc (AIM: HARL), the UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management, is pleased to announce that it has been awarded a contract to undertake repairs on the Sun Shine, a heavy lift vessel owned by the Korean-based Pan Ocean Group.
This vessel is the first of its kind to be dry docked in the Company's Building Dock in Belfast. The contract value is estimated to be £0.80 million, and the vessel will enter the dry dock on 7 August 2023 for a period of approximately 21 days where it will undergo a series of repairs including seal changes, steel works and painting.
RNS WORTH READING
Saietta Group - Commercial Update re ConMet JCDA
Restructured arrangements result in net payment to Saietta of approximately €3.3 million plus potential licensing payments
Enables Saietta to focus on near-term revenue opportunities in the lightweight EV sector
""This development is fully aligned with our stated strategy of driving Saietta into positive EBITDA as soon as possible, with a target of early 2024."
Belluscura - Belluscura Signs Distribution Agreement
Belluscura, a leading medical device developer focused on lightweight and portable oxygen enrichment technology, announces that it has signed a distribution agreement with McKesson Medical-Surgical, a division of McKesson, the 9th largest company by revenue in the US. McKesson delivers a third of all pharmaceuticals used in North America and operates the fourth-largest pharmacy chain in North America.
The X-PLOR® portable oxygen concentrator will now be available to McKesson's customers through their online catalogue.
Journeo - Trading Update
Highlights
· Acquisition of IGL Limited ("Infotec") completed on 18 January 2023 following successful £7.35m fundraising
· Group revenues increase by 145% to £21.8m
o 41% organic growth in core business revenue (from £8.9m to £12.5m)
· Order book carried forward into H2 2023 of £27m and sales opportunity pipeline over £55m
· Number of connections to SaaS platform increased 20% from 10,000 to 12,000 generating monthly recurring revenues
· Profit before tax increased to £1.7m
· Revenue for the full year is expected to be £41m, significantly ahead of current market expectations, with profit expected to be marginally ahead
· Cash balance of £11.3m, including advance payments from customers of £3.5m
CHARTS
Top Business Stories
UK house prices dropped at their fastest annual pace for 14 years in July, according to Nationwide.
The building society said prices dropped by 3.8%, which is the biggest decline since July 2009.
Nationwide said mortgage interest rates remain high, making affordability a challenge for house-buyers.
Mortgage costs hit the highest level for 15 years in July as lenders grappled with inflation and uncertainty over rates set by the Bank of England.
New figures suggest food price inflation has slowed to its lowest level this year as prices of oils, fish, and breakfast cereals fall.
According to the British Retail Consortium (BRC) and NielsenIQ retail analysts, food inflation slowed to 13.4% in July. It was 14.6% in June.
But overall, shop prices are still 7.6% higher this July than a year ago.
UK factory output falls at fastest pace in seven months, cost pressures ease
British factory output contracted in July at the fastest pace in seven months, hit by higher interest rates and fewer new orders, despite weakening price pressures, a survey showed on Tuesday.
The S&P Global/CIPS UK manufacturing Purchasing Managers' Index (PMI) fell to 45.3 in July from 46.5 in June, the lowest reading this year and the joint-weakest since May 2020, but above the 45.0 estimate in provisional PMI data.
SUBJECT
Have we seen the bear market on AIM?