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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.
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AIM - WINNERS
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Zinnwald Lithium PLC, up 41% at 7.52 pence, 12-month range 5.30p-16.00p. The lithium development company issues updated independent Mineral Resource Estimate for its 100% owned Zinnwald lithium project located in Saxony, eastern Germany. It says the 2024 MRE update incorporates 26,911 metres of new diamond core drilling across 84 drill holes and a reinterpreted and updated geological model since the previous MRE which was released in September 2018. Zinnwald highlights a 445% increase in tonnes and a 243% increase in contained lithium in the Measured and Indicated category versus the previous 2018 MRE. Chief Executive Zinnwald Lithium says: "This establishes the Project as the second largest hard rock lithium project by both resource size and contained lithium in the EU and clearly highlights its scale and strategic importance."
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AIM - LOSERS
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TomCo Energy PLC, down 44% at 0.047p, 12-month range 0.045p-0.40p. The oil development group raises GBP300,000 though a GP200,000 placing and a GBP100,000 subscription, for 666.7 million new shares priced at 0.045p each. The fundraise shares will represent approximately 17% of the company's enlarged issued share capital. The fundraise has been undertaken to provide additional funds towards the company's anticipated expenditure as it seeks to progress its plans for its wholly owned subsidiary, Greenfield Energy LLC, in relation to the Tar Sands Holdings II LLC site located in the Uinta Basin, Utah, US,
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Gooch & Housego PLC, down 18% at 500.00p, 12-month range 415.00p-685.66p. The manufacturer of photonic components & systems says adjusted pretax profit for financial 2024 is expected to be about GBP3 million below management's previous expectations. "As previously stated, some of our customers in the Industrial and Medical laser markets have been reducing their inventory holdings and reporting near term demand weakness from some end markets. This period of inventory adjustment is proving to be deeper and more prolonged than previously anticipated. Our semiconductor market customers have reduced near-term demand but still expect strong growth in the medium term. We have also received customer notification that certain US A&D programmes will no longer go ahead or have been deferred," it explains.
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By Sophie Rose, Alliance News senior reporter
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