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Share Price: 0.375

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AIM WINNERS & LOSERS: Audioboom shares ending week on strong note

Fri, 03rd Nov 2023 10:27

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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AIM - WINNERS

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Audioboom Group PLC, up 20% at 179.80 pence, 12-month range 130.00p-708.00p. The company extends gains after it said Thursday it reached a milestone after reaching more than one billion advertising impressions. Shares in the publisher of podcasts are still down 73% over the past 12 months, however. Back in February 2022, Sky News reported Amazon.com Inc and Spotify Technology SA were both considering making bids for Audioboom.

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Corcel PLC, up 2.9% at 0.61 pence, 12-month range 0.20p-0.69p. The firm says drilling at the Full Binga section of the Tobias-13 in Angola finds "several potentially productive zones seen in multiple intervals". Executive Chair Antoine Karam says: "The initial results of the TO-13 well are an important moment for Corcel and highly encouraging, having successfully demonstrated hydrocarbons across multiple potentially productive zones and multiple intervals."

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AIM - LOSERS

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Surface Transforms PLC, down 32% at 16.00p, 12-month range 12.60p-43.45p. The carbon-ceramic automotive brake disc manufacturer says that while some technical problems have been overcome, it is still seeing challenges in its production line. "These challenges, which are being resolved, are hindering us from creating sufficient capacity resilience and are constraining our production ramp up," it explains. "In the light of these challenges, the company is now planning its cash needs and customer commitments based on a shallower ramp and now expects to reach the required rate of production in Q1 2024, later than previously forecast." Surface Transforms is now cutting sales guidance for 2023 to GBP8.6 million. It adds: "Overall, the outlook for 2024 to 2027 continues to remain very positive reflecting contracts in series production and recent new business announcements, with capacity being installed to fulfil these awards."

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By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

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EARNINGS AND TRADING: Graft Polymer extends loan; ASA profit down 30%

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16 Apr 2024 20:19

TRADING UPDATES: System1 revenue jumps; Pathfinder amends deal

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

15 Apr 2024 12:12

IN BRIEF: Corcel completes initial well testing; raises GBP1.3 million

Corcel PLC - London-based mining and resource development company - Notes the conclusion of initial well test efforts at TO-14 well in the Kwanza Basin, onshore Angola, where the company has a 20% working interest. Says local operator Sonangol EP decides to move to testing to TO-13 well. The equipment move is expected to take approximately seven days after which formal testing will begin, it says. Chair Antoine Karam says: "With TO-13 testing shortly to commence, we will soon have an additional data set to aid in our efforts to both produce commercial oil in the short term and to reactivate and build out the Tobias field over the longer term." Corcel also reports that it has raised GBP1.3 million through through a fundraising via the issue of 260 million new ordinary shares at 0.005 pence each. This includes a GBP500,000 investment from shareholder, Extraction SRL.

15 Apr 2024 08:22

Corcel to shift exploration focus amid nitrogen shortage

(Sharecast News) - Angola-focussed energy explorer and producer Corcel updated the market on progress at the Tobias Field reactivation on Monday, in Block KON-11 within the Kwanza Basin, where it holds a 20% working interest, or 18% ne.

2 Apr 2024 12:36

EARNINGS: Capricorn Energy loss narrows; Crystal Amber net assets up

(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Thursday and not separately reported by Alliance News:

27 Mar 2024 20:32

IN BRIEF: Corcel updates on progress of testing in Angola

Corcel PLC - London-based mining and resource development company - Provides an update on the testing of the TO-14 well in the onshore Block KON-11, in Angola, where it has a 20% working interest. Says testing of the TO-14 well continues following significant weather and equipment related delays earlier in the year. Explains reactivation of the fractured carbonate reservoir has been challenging, however there is continued focus on engineering solutions to flow test the well from the most prospective zones identified during the drilling phase. Notes continued engineering work is being conducted to identify solutions to flow both TO-14 and the yet untested TO-13 well. Additional activities are being progressed across the Corcel acreage in KON-11, KON-12, and KON-16. An electromagnetic full-tensor gravity survey is scheduled to begin by early May.

18 Mar 2024 19:20

TRADING UPDATES: Chariot mulls future of Transitional Power business

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

18 Mar 2024 12:45

Corcel reports positive findings from Canegrass lithium project

(Sharecast News) - Battery metals explorer and producer Corcel updated the market on the findings of its initial exploration activities at the Canegrass lithium project in Western Australia on Monday.

29 Feb 2024 18:06

TRADING UPDATES: United Oil adds Jamaica expert; Vaalco makes buy

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

23 Feb 2024 12:16

Corcel planning next drawdown from convertible loan facility

(Sharecast News) - Corcel updated the market on its unsecured convertible loan note facility on Friday.

12 Feb 2024 11:24

IN BRIEF: Corcel shares down as Sonangol begins testing Tobias well

Corcel PLC - London-based mining and resource development company - Says that testing has begun at its 20%-owned Tobias-14 well in the onshore Kon-11 block in northern Angola. Testing is being conducted by Sonangol Ltd, the Luanda-based parastatal oil and gas producer. Testing follows multiple delays at Tobias-14, after equipment delays and severe weather conditions necessitated an extension to the original timeline. Once testing has been completed, Sonangol will move test equipment to the Tobias-13 well pad, and conduct flow-testing. Corcel expects to receive results from Tobias-14 over the next several weeks.

12 Feb 2024 10:46

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AIM WINNERS & LOSERS: Audioboom shares ending week on strong note

EXECUTIVE CHANGES: Hydrogen Future Industries 25% shareholder made CEO

EARNINGS AND TRADING: Graft Polymer extends loan; ASA profit down 30%

TRADING UPDATES: System1 revenue jumps; Pathfinder amends deal

IN BRIEF: Corcel completes initial well testing; raises GBP1.3 million

Corcel to shift exploration focus amid nitrogen shortage

EARNINGS: Capricorn Energy loss narrows; Crystal Amber net assets up

IN BRIEF: Corcel updates on progress of testing in Angola

TRADING UPDATES: Chariot mulls future of Transitional Power business

Corcel reports positive findings from Canegrass lithium project

TRADING UPDATES: United Oil adds Jamaica expert; Vaalco makes buy

Corcel planning next drawdown from convertible loan facility

IN BRIEF: Corcel shares down as Sonangol begins testing Tobias well

AIM WINNERS & LOSERS: ECR Minerals hails Creswick drilling

Corcel confirms start of testing at Tobias-14 well

LONDON MARKET CLOSE: End of year rally cools as FTSE 100 edges lower

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