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AIM WINNERS & LOSERS: Helium One surges on rig purchase for Rukwa

Mon, 10th Jul 2023 10:26

(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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Helium One Global Ltd, up 43% at 7.28 pence, 12-month range 4.32p-9.3p. The Tanzania-focused helium explorer acquires an Epiroc Predator 220 drilling rig for use at its Rukwa project. Will use the rig to drill the Tai-C well in the third quarter of 2023, and is targeting a spud date in September. Says ownership of the rig means it can quickly move to the appraisal phase after drilling Tai-C, enabling accelerated exploration at its Rukwa, Eyasi and Balangida projects. Doesn't name the seller of the rig, nor say how much it paid for it. On Friday, the firm had issued its drilling contractor with a rectification notice, amid continuing concerns about the lack of operational and contractual progress regarding its letter of intent. It had said it was reviewing and progressing a number of "alternative options".

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Knights Group Holdings PLC, up 6.0% at 67.64p, 12-month range 60.45p-142p. The legal and professional services firm posts double digit annual growth, alongside a cheery outlook. For the financial year ended April 30, pretax rises 19% year-on-year to GBP21.6 million from GBP1.1 million, while revenue rises 13% to GBP142.1 million from GBP125.6 million. While revenue growth is largely the result of recent acquisitions, the firm expects a return to organic growth in financial 2024. Cites a strong start to the year, despite ongoing macroeconomic uncertainty. "We remain confident in our strategy and our ability to deliver profitable, cash generative growth," says CEO David Beech.

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AIM - LOSERS

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Totally PLC, down 22% at 13.2p, 12-month range 12.2p-48p. The frontline healthcare services provider reports annual results for the financial year ended March 31, guiding for a weaker revenue performance in the year ahead. Revenue rises 6.5% year-on-year to GBP135.7 million from GBP127.4 million, while pretax profit jumps 42% to GBP1.8 million from GBP1.2 million. It proposes a final dividend of 0.125 pence, bringing the annual total to 0.625p, down from 1.00p a year before. However, expects revenue in the current financial year to be lower, with earnings before interest, tax, depreciation and amortisation to be "marginally below" the previous year. This reflects "increasingly challenging operating conditions", as well as "improved margins driven by higher volumes in elective care". "The board are confident that the actions and strategy put in place over the past 12 months will ensure the company remains in a strong position to continue to grow significantly over the coming years," it says.

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Petro Matad Ltd, down 15% at 4.13p, 12-month range 1.6p-7.1p. The Douglas, Isle of Man-based petroleum exploration company says the Velociraptor-1 exploration well in the Taats Basin of Block V located in central Mongolia reached a total depth of 1,500 metres with wireline logging completed. However, all the reservoirs encountered were water bearing, the company says. The well will now be plugged and abandoned. The results are "obviously disappointing", says CEO Mike Buck, but "such high impact targets, drillable at modest well cost cannot be ignored when exploring frontier area".

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By Elizabeth Winter, Alliance News senior markets reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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