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AIM WINNERS & LOSERS: Joules jumps on Next talks; Tungten loss widens

Mon, 08th Aug 2022 11:44

(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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Joules Group PLC, up 49% at 49.04 pence, 12-month range 19.41p-275.00p. The British lifestyle brand confirms weekend press report that it is in discussions with FTSE 100-listed retailer Next PLC about a potential equity investment. The move, if it goes ahead, will see Next inject about GBP15 million into Joules, noting the price will be "at no less than Joules' current market price". As a result, Joules says Next would become a "strategic minority shareholder" in the lifestyle brand, without confirming the size of the stake.

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Touchstone Exploration Inc, up 20% 84.00p, 12-month range 51.60p-160.98p. The Trinidad & Tobago Environmental Management Authority accepts the company's Environmental Impact Assessment for the Cascadura project. The Cascadura project is in the Ortoire block, onshore Trinidad, in which Touchstone holds an 80% operating interest in the block.

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Tertiary Minerals PLC, up 9.2% at 0.14p, 12-month range 0.12p-0.31p. The mineral exploration and development company sells its royalty interests in the Kaaresselka and Kiekeromaa gold projects in Finland. Sells to Aurion Resources Ltd for CAD200,000, about GBP128,000, in cash and 83,333 Aurion shares. Aurion's shares closed at CAD0.68 each in Toronto on Friday, making the shares worth around CAD56,666 in total.

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AIM - LOSERS

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Tungsten West PLC, down 7.5% at 28.20p, 12-month range, 19.00p-90.00p. In the financial year that ended March 31, pretax loss widens to GBP13.0 million from GBP8.0 million the previous year. Revenue surges to GBP673,509 from GBP40,170, but administrative expenses more than double to GBP8.0 million from GBP3.7 million. Says results were in line with board expectations. The owner of Hemerdon tungsten and tin mine in Plymouth says it has been hurt by an inflationary environment and expects increased input costs to continue.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
9 May 2023 14:28

FRC opens investigation into Deloitte's audit of Joules accounts

(Alliance News) - The Financial Reporting Council on Tuesday said it has begun an investigation into Deloitte LLP's audit of Joules Group PLC's results.

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15 Dec 2022 11:58

PRESS: South Africa's Foschini Group aggrieved at failed Joules bid

(Alliance News) - Cape Town-based clothing retailer Foschini Group Ltd has written to the newly-appointed administrators of British country lifestyle retailer Joules, in protest of the decision to sell the business to UK's Next PLC, Sky News reported on Wednesday.

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1 Dec 2022 14:04

TOP NEWS: Next rescues Joules by taking majority stake, keeping staff

(Alliance News) - Next PLC on Thursday said it is buying a majority stake in fellow retailer Joules Group PLC, which last week Friday said it was preparing to be wound up.

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1 Dec 2022 12:53

Next buys Joules out of insolvency - report

(Sharecast News) - Next confirmed on Thursday that it has partnered with Tom Joule to buy retailer Joules out of insolvency for £34m in cash.

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30 Nov 2022 08:51

Joules administrator on brink of rescue deal with Phase Eight owner - report

(Sharecast News) - The administrator to collapsed fashion retailer Joules is reportedly on the brink of a rescue deal with the South African owner of Phase Eight.

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25 Nov 2022 14:43

Joules announces resignation of CFO York as it prepares to be wound up

(Alliance News) - Joules Group PLC on Friday said that Chief Financial Officer Caroline York had left the business, with effect from yesterday.

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21 Nov 2022 11:16

PRESS: SA's Foschini considers rescue offer for UK retailer Joules

(Alliance News) - Cape Town-based clothing retailer Foschini Group Ltd is considering an offer for failed British lifestyles brand Joules Group PLC, Sky News reported on Friday.

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18 Nov 2022 19:49

TRADING UPDATES: Joules nomad resigns; Pharma C loss narrows

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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16 Nov 2022 17:04

Joules collapses into administration

(Sharecast News) - Beleaguered fashion and lifestyle retailer Joules collapsed into administration on Wednesday, putting more than 1,600 jobs at risk.

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16 Nov 2022 16:57

Joules shares to be cancelled after Interpath named as administrators

(Alliance News) - Joules Group Plc on Wednesday said it expects the listing of its shares to be cancelled after naming Interpath Ltd as administrators.

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14 Nov 2022 12:25

LONDON MARKET MIDDAY: UK-focused FTSE 250 slips before autumn budget

(Alliance News) - Stock prices in London were mostly lower at midday on Monday, save for the FTSE 100, as investors looked ahead to a busy week for UK politics.

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14 Nov 2022 11:19

Retailer Joules to call in administrators as financing talks fail

(Alliance News) - Trading in the shares of Joules Group PLC was suspended on Monday, as the cash-strapped retailer said refinancing discussions have failed, and it will call in administrators.

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14 Nov 2022 07:44

Joules to call in administrators

(Sharecast News) - Retailer Joules has decided to call in administrators after failing to raise new funding, putting around 1,700 jobs at risk.

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8 Nov 2022 12:18

LONDON MARKET MIDDAY: Tepid trade in Europe as US midterm polls open

(Alliance News) - Blue-chip equities in Europe traded off morning lows heading into Tuesday afternoon, but the mood was still cautious, with traders mindful of the US midterm election.

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7 Nov 2022 12:18

LONDON MARKET MIDDAY: FTSE 100 treads water but European shares rise

(Alliance News) - The FTSE 100 stood out on Monday, but for the wrong reason, as share price falls for some of its largest constituents meant the index London large-caps underperformed versus the mid-cap FTSE 250 and European indices.

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