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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - LOSERS
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East Star Resources PLC, down 20% at 3.69 pence, 12-month range 3.45p-6.10p. The Kazakhstan-focused gold and copper explorer says anomalous gold was confirmed across all Eshkilitau occurrences of the Apmintas licence confirming a gold bearing system with a strike of more than 4,000 metres. Chief Executive Alex Walker says the results are "fantastic". "Historical results at this target recorded high grades over short intervals whereas wider intersections, close to surface will add tonnage to potential future operations. It also demonstrates that historical assays often did not include the potential for disseminated ore which increases the potential on other targets," he adds. Notes hole AP-021 in the Eshkilitau II target recorded 14 metres at 2.54 grams per tonne gold from only 40 metres downhole including 5 metres at 4.97 grams per tonne gold from 44 metres.
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Made.com Group PLC, down 13% at 55.20p, 12-month range 55.20p-208.60p. The furniture retailer lowered its guidance for 2022 due to "highly challenging" market conditions. Reports trading has been volatile and more challenging than anticipated in recent months. Says "third-party data" suggests that the online furniture and home market is down 30% to 40% so far in 2022. Stresses compared to the market, its gross sales were down "only" 10% in the first quarter of 2022 versus the same period in 2021. Compared to the first quarter of 2019 gross sales were up 64%, Made adds. Nonetheless, the company lowers its full-year guidance based on the weak market backdrop. "We now assume the market will remain highly challenging for the rest of 2022 despite the significantly easier comparatives for the second half," it says. Made expects gross sales to remain flat or to decrease by a maximum of 15% compared to the year before now. In 2021 gross sales amounted to GBP434.0 million. In March, the company initially guided for full-year gross sales of GBP500 million to GBP540 million, reflecting a 15% to 25% increase in 2022.
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Home REIT PLC, down 2.8% at 118.60p, 12-month range 106.16p-130.00p. Targets raise of GBP150 million from placing 130.4 million shares at 115p each. Plans to use proceeds to acquire further homes in line with company's strict investment criteria, which will involve investing in "high-quality accommodation for homeless people across the UK". Chair Lynne Fennah adds: "The proceeds will enable us to continue expanding our existing portfolio which is generating inflation-protected income, utilising our strong pipeline of off-market opportunities, and work with our local partners to provide essential long-term support to some of the UK's most vulnerable people."
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By Paul McGowan; paulmcgowan@alliancenews.com
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