(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.
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AIM - WINNERS
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Alien Metals Ltd, up 12% at 0.8133 pence, 12-month range 0.65p-3.19p. The exploration and development company says initial independent scoping study for the Hancock iron ore project demonstrates "exceptionally strong returns are possible" from a potential development. Initial life of mine studies show current resource will sustain 8-year life based on mining rate of 1.3 million tonnes per year with a pre-production capital estimate of less than USD30 million. "Given the exceptional results from the scoping study, the company has begun planning the next stages of development with the appointment of a highly experienced iron ore operations manager to commence the permitting process," says Alien. Chief Executive & Technical Director Bill Brodie Good says firm "could not be more pleased" with progress on project.
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Rambler Metals & Mining PLC, up 9.8% at 23.33p, 12-month range 16.5p-63p. The copper and gold notes drilling results at Ming mine in Canada, intersecting multiple drill holes in excess of 20 metres of over 2% copper. Highlights include 27.5 metres at 3.3% copper - including 8.0 metres at 3.7% copper and 17.5 metres at 3.4% copper - and 28.7 metres at 2.4% copper. "With drilling on three of the four infill targets completed, the company has improved its confidence in near-term production plans. While we are still awaiting assays on some holes, our confidence has been bolstered by the assay results we have seen to date," says President & Chief Executive Toby Bradbury.
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D4T4 Solutions PLC, up 7.2% at 380.5p, 12-month range 173p-410p. The data management company reports interim revenue up 47% year-on-year at GBP7.5 million, and says half-year revenue and adjusted profit both in line with management forecasts. "The board remains confident in delivering a solid full year FY22, in line with management expectations," company says, adding that second half prospects underpinned by significant new business pipeline.
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AIM - LOSERS
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Providence Resources PLC, down 8.0% at 3.17p, 12-month range 2.86p-8.84p. Chief Executive Alan Linn steps down from the oil and gas exploration company to "devote more time to my other business interests". "Following the recent strategic decision by the Board to take the management and financing of the Barryroe project in-house, this is the opportune time to hand over to new leadership," he adds. Firm will start search for his replacement and in the meantime, James Menton will assume role of executive chair.
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By Lucy Heming;Â lucyheming@alliancenews.com
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