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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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IQGeo Group PLC, up 17% at 325.10 pence, 12-month range 187.20p-330.00p. Shares in the provider of geospatial productivity and collaboration software for the telecoms and utility industries rise. IQGeo expects revenue to exceed GBP44.2 million in 2023, representing growth of 66% from GBP26.6 million in 2022. Adjusted earnings before interest, tax, depreciation and amortisation is expected to be over GBP6.4 million, up from GBP1.9 million. Order intake should be around GBP56.9 million, up 40% from GBP41.0 million. Reflecting on 2023, IQGeo notes "strong growth and momentum across all key metrics", which the company says underpinned confidence in "further improvement and growth in the current financial year and beyond".
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Ascent Resources PLC, up 8.7% at 2.99p, 12-month range 2.32p-4.19p. The mineral exploration and development company says that its joint venture partner's application to enter self-declared insolvency has not been approved by the relevant court. The company has filed a number of petitions to the court against its Slovenian JV partner's application to enter into self-declared insolvency. "The primary points made by the company are that this application is an attempted abuse of the insolvency system by a solvent company attempting to dispose of Ascent's valid claim against them and that Geoenergo has not engaged with Ascent, its main creditor, to understand if an accommodation (such as a settlement or Ascent taking ownership of Geoenergo or its assets) can be reached which would avoid insolvency," it explains.
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AIM - LOSERS
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Jadestone Energy PLC, down 11% at 32.58p, 12-month range 21.00p-93.20p. The Asia-Pacific-focused oil and gas company says it expects its production in 2024 to rise, but warned of higher costs at its Australian oil fields. It anticipates production of 20,000 to 23,000 barrels of oil equivalent per day, up 55% from 2023 at midpoint. It would be up sharply from 2022's 11,487 boepd. However, it warns that recent work indicated that life-of-field costs at Montara and Stag in Australia will be higher than previously expected due to increases in repair and maintenance costs. It expects the potential for a non-cash impairment dating back to the end of 2023. The costs will be updated into its revised borrowing base from March this year.
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By Sophie Rose, Alliance News senior reporter
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