(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.
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AIM - WINNERS
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Rambler Metals & Mining PLC, up 26% at 23.60 pence, 12-month range 16.5p-70.37p. The copper and gold says NewGen Resource Lending Inc and and West Face Capital Inc arrange a USD1.0 million bridge loan to firm, with USD500,000 provided by NewGen's general partners and USD500,000 provided by a fund managed by West Face. "Work on closing our financing has undoubtedly taken longer than anticipated. This has been a challenging period and despite this we have continued to operate at a time when we expected to have received funds already," says President & Chief Executive Toby Bradbury.
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Shoe Zone PLC, up 23% at 82.00p, 12-month range 34.56p-85p. The footwear retailer expects revenue of GBP119.1 million for financial year to October 2, down from GBP122.6 million the year before as trading was hit by Covid restrictions. Says pretax profit to be "not less" than GBP6.5 million as it notes positive trading through periods without lockdowns. "This positive trading, alongside the significant cost reduction action taken in 2020 and the government support schemes Shoe Zone has utilised, has enabled the business to move quickly back into profitability," says Shoe Zone.
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Parity Group PLC, up 18% at 7.4p, 12-month range 6p-14p. The data and technology-focused recruiter is chosen as 'the preferred supplier' for contract resources to an unnamed "large government agency". Says the incremental business is estimated to be worth in the region of GBP250,000 in net fee income annually.
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Harland & Wolff Group Holdings PLC, up 18% at 21.00p, 12-month range 16.1p-54.87p. The shipyard and energy infrastructure firm says subsidiary Islandmagee Energy Ltd gets notification that Northern Ireland's Department of Agriculture, Environment & Rural Affairs will issue the environmental consent decision, marine licence, reviewed abstraction licence and discharge consent for the Islandmagee gas storage project. "The company has reviewed the conditions attached to the draft Marine Licence and believes that they are fair and reasonable, and therefore, acceptable, which will lead to the issuance, by DAERA, of the full Marine Licence within the next 28 days," it says.
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AIM - LOSERS
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Reabold Resources PLC, down 9.5% at 0.1855p, 12-month range 0.15p-0.87p. Says results of extended well test have confirmed that the WNA-1, WNA-2 and WNB-1z wells are substantial hydrocarbon discoveries. However, notes: "Gas and light oil/condensate were recovered to surface from the WNA-2 and WNB-1z wells, although sustained flow rates were not achieved, and multiple samples have been gathered for geochemical analysis which is currently underway." Reabold holds 56% interest in West Newton field and 16.7% direct licence interest in PEDL183 which contains West Newton A-1 discovery well and WNA-2 appraisal well. Shares in Union Jack, which has 16.7% interest in licence, fall 7.4%
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Applied Graphene Materials PLC, down 6.0% at 23.51p, 12-month range 23.15p-77p. The graphene materials maker says revenue for financial year to July 31 jumps to GBP123,000 from GBP83,000, and pretax loss slims slightly to GBP3.6 million from GBP3.7 million. "While, to some extent, COVID-19 lockdowns have restrained the pace of graphene testing and adoption by some of our commercial partners, we expect this impact to lessen in 2022. Our commercial pipeline of engagements is strong and expanding, and AGM is in solid shape to accelerate growth to meet customer demand," says Chief Executive Adrian Potts.
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By Lucy Heming;Â lucyheming@alliancenews.com
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