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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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Bushveld Minerals Ltd, up 20% at 4.35 pence, 12-month range 3.5p-10.6p. The South Africa-focused vanadium producer and energy storage solutions company enters into term sheet with Orion Mine Finance to refinance its existing convertible loan note. Will refinance around USD45 million due in November into three components, including a USD27 million three-year term loan, new CLN of USD13.5 million maturing in 2028, and conversion of USD4.5 million of existing CLN into shares at 6p each. "The proposed refinancing will resolve a large liability that became current in 2023 and will remove significant near-term pressure on the company's balance sheet, in the process supporting sustainable growth and cash generation of our business," says Chief Executive Fortune Mojapelo.
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Sareum Holdings PLC, up 12% at 140.05p, 12-month range 55.1p-264p. The Cambridge-based biotechnology company developing kinase inhibitors for autoimmune disease and cancer wins approval to conduct phase 1 clinical studies on SDC-1801 in Australia. SDC-1801 is a TYK2/JAK1 inhibitor being investigated as a potential new therapeutic for autoimmune diseases, with a focus on psoriasis. Will work alongside specialist clinical units in Melbourne to begin a phase 1a trial as soon as possible.
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AIM - LOSERS
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Aptamer Group PLC, down 46% at 13.78p, 12-month range 13p-122.95p. The developer of novel Optimer binders for the life sciences industry updates on the financial year ending June 30. In the first 10 months, revenue was around GBP1.4 million, with its pipeline taking "longer than expected to convert". The delays were especially apparent in licensing and royalty-based contracts. It now expects annual revenue to be "materially" below the previous year's level of GBP4.0 million. It reports a "healthy" pipeline across fee-for-service and licensing, with some of the revenue to fall in the current year, but most - "if converted" - in the next year. With cash running low at GBP700,000 at the end of April, the firm is mulling a range of funding options, which could be non-dilutive or dilutive in nature.
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By Elizabeth Winter, Alliance News senior markets reporter
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