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(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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Tungsten West PLC, up 16% at 15.99 pence, 12-month range 13.00p - 76.80p. Says it is positioned to become the largest tungsten producer "in the western world" as updated feasibility study for Hemerdon tungsten and tin mine in Devon, England shows possibility of average annual production 2,900 tonnes of tungsten trioxide in concentrate and 310 tonnes of tin in concentrate and an annual average steady-state mining rate of 3.5 million tonnes of ore per year. Notes a post-tax net present value 5% of GBP297 million with an internal rate of return of 25% and an upside case post-tax NPV 5% of GBP415 million with an internal rate of return of 32%. Chair Mark Thompson says: "The updated feasibility study was completed as part of the revised plan for the Hemerdon mine, which was essential due to the unforeseen geopolitical circumstances and energy price inflation shock of 2022. The feasibility study provides solutions to the energy price challenges and will enable increased operating efficiencies at the project."
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t42 IoT Tracking Solutions PLC, up 14% at 7.40 pence, 12-month range 5.65p - 30.85p. The shipping container tracking system provider enters agreement with a new Israel-based customer for the sale of its Lokies tracking units. The agreement is for a two-year term. Adds an initial purchase order has been received from the customer for 1,500 Lokies units. Customer also is granted end-client supply exclusivity rights, subject to the customer achieving specified quarterly sales over a 2-year period, for 5,000 Lokies, including the units ordered to date.
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AIM - LOSERS
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IQE PLC, down 19% at 48.23 pence, 12-month range 27.53p - 60.80p. The compound semiconductor wafer products supplier says it expects to see some destocking in the wider semiconductor industry, which may hurt demand from its existing customers in the first half of 2023. Revenue for 2022, meanwhile, is expected to be 8% higher than the year prior when it stood at GBP154 million. The rise is anticipated after accounting for the impact of provisions for a small number of doubtful debts and the re-phasing of revenue from one contract from the final quarter of 2022 to the first quarter of 2023, it says. Constant currency revenue is expected to be broadly in line with the prior year.
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Tekmar Group PLC, down 16% at 14.45 pence, 12-month range 5.65p - 59.00p. Says the exclusivity period with a preferred partner, originally for a 60 day period, has been extended by a further 14 days. Says there is the mutual option to extend for an additional 14 day period if required, to allow the preferred partner to complete its due diligence and finalise its proposal. Explains that the exclusivity period relates only to alternate debt or equity financing proposals and does not prevent an offer being made for the company by a third party under its formal sale process. Warns there is no guarantee that this proposal will be completed, and adds further announcements will be made as required. If the proposal is successfully completed, then this will conclude the company's strategic review and formal sale process.
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By Heather Rydings, Alliance News senior economics reporter
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