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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Quantum Blockchain Technologies PLC, up 8.1% at 1.16 pence, 12-month range 0.85p - 3.18p. Retains Lov Kumar Grover as a special consultant for the theoretical assessment of the company's proprietary quantum version of SHA-256, a quantum mining algorithm. Says this is part of the firm working at developing methods to mine Bitcoin more cheaply, quickly and with improved energy efficiency. Grover is retained on an initial contract of three months and is granted five million warrants.
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Mosman Oil & Gas Ltd, up 6.1% at 0.072 pence, 12-month range 0.050p - 0.082p. Completes and perforates its Cinnabar-1 well in Texas. Adds the pipeline from the well to the production facility is currently being installed. Reports an average flow over 24 hours from the well of around 120 barrels of oil per day and 180,000 cubic feet of gas per day, resulting in around 150 barrels of oil equivalent per day. Mosman says long-term stable flow rates of oil and gas will be determined after the well is connected to its production facilities
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AIM - LOSERS
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R&Q Insurance Holdings Ltd, down 1.4% at 58.20 pence, 12-month range 55.50p - 184.00p. Acquires, through a newly formed joint venture with Obra Capital Inc, a wholly-owned subsidiary of global safety equipment manufacturer MSA Safety Incorporated for an undisclosed sum. The acquired subsidiary holds legacy product liability claims relating to coal dust, asbestos, silica, and other exposures, the firm says. MSA Safety contributes USD341 million in cash to the subsidiary and the joint venture contributes USD35. As a result of the transaction, R&Q will provide claims and management services and Obra will provide investment management services to the newly acquired subsidiary. Chair William Spiegel says: "This will see our reserves and non-insurance liabilities under management increase to over USD1 billion, comprising two pools: traditional insurance reserves via Gibson Re, and non-insurance legacy liabilities."
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By Heather Rydings, Alliance News senior economics reporter
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