Eurasia Mining Share News (EUA)

(Correcting Jarvis Securities PLC's 2023 revenue.)

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

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AIM - WINNERS

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Goldstone Resources Ltd, up 16% at 0.64 pence, 12-month range 0.25p-1.48p. The Ghana-focused gold explorer reports amended terms to a gold loan agreement with Asian Investment Management Services Ltd. The maturity date of the loan has been extended to the end of 2026 from the end of this year, while "interest payments have been temporarily deferred". "The company is pleased to work with its major creditor to optimise the Homase mine's cash flow in a rising gold price environment, providing the company's shareholders with potential upside and assisting with the company's working capital requirements," Goldstone says.

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AIM - LOSERS

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Jarvis Securities PLC, down 26% at 12.65p, 12-month range 11.50p-52.10p. The operator of retail stockbroking brands reports a decline in profit and notes one unit will need to pay a redress to some clients for breaching a watchdog's code of conduct. In the 18 months to June 30, pretax profit is GBP3.0 million, Jarvis says, falling 43% from the GBP5.2 million achieved in calendar 2023. The company changed its financial year end to June 30 from December 31. Revenue rises to GBP17.9 million in the 18 months from GBP13.1 million in the 12 months of 2023. The company says it is still looking to pursue a cancellation of its AIM listing. Any distributable reserves would be returned to shareholders in the event of a cancellation, it says. The Jarvis Investment Management unit, "due to historic breaches" of Financial Conduct Authority conduct of business rules, has an obligation to pay a redress to some clients. "The first breach is in respect of inducement rules, specifically the sharing of commission with an introducer. The second breach is with regards to unclear and potentially misleading language in legacy versions of the JIML client terms of business when describing the rate and circumstances in which interest would be paid on client money held," Jarvis adds. The details of the redress are yet to be finalised. Jarvis has obtained legal advice and estimates it will incur a liability over the next 12 months in the region of GBP2.8 million.

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Eurasia Mining PLC, down 17% at 3.90p, 12-month range 2.00p-7.69p. It has agreed to sell its West Kytlim mining operations in the Urals to a Russian company for USD9 million, saying the decision reduces the risk the mine will be nationalised by Russia without compensation in response to the freeze of Russian assets in Europe.

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By Eric Cunha, Alliance News news editor

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