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AIM WINNERS & LOSERS: Abingdon Health warns results to miss forecasts

Tue, 27th Apr 2021 10:30

(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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Vast Resources PLC, up 31% at 0.10 pence, 12-month range 0.07p-0.29p. Says decline project to Level 19 is progressing on schedule and has started mining fresh higher grade ore at its Baita Plai polymetallic mine in Romania. "I am delighted with the operational progress that we have made in recent weeks and we remain well capitalised to achieve our development plan at Baita Plai without needing to come back to the market for the foreseeable future," says Chief Executive Andrew Prelea.

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Argos Resources Ltd, up 13% at 3.40p, 12-month range 1.39p-3.79p. The Falkland Islands-based exploration company says the Falkland Islands government has extended the second term of its PL001 licence by twelve months, to May 2022. Firm has a commitment to drill one exploration well within the licence area by the end of the second term of the licence.

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88 Energy Ltd, up 11% at 1.34p, 12-month range 0.23p-4.7p. Says testing commenced on sidewall cores, cuttings, mud gas and fluid samples from Merlin-1, North Slope of Alaska. Results expected over next 2 to 10 weeks. Initial mapping of additional prospective zones encountered in Merlin-1 encouraging, it says.

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Jet2 PLC, up 3.9% at 1,471.37p, 12-month range 429.8p-1,524p. The airline and package holiday operator guides to full-year loss, but says vaccine rollout "encouraging". Expects to report a loss before foreign exchange revaluation and tax from continuing operations for the financial year ended March 31 between GBP375 million and GBP385 million, swinging from profit of GBP264.2 million the year before. The UK's vaccine rollout and increasing momentum in Europe are both encouraging for the financial year ahead, Jet2 says, though highlights uncertainty over the UK government's proposed Covid-19 travel restrictions. "We continue to be encouraged by the volume of customer bookings for both Winter 21/22 and for Summer 22, for which package holiday bookings are displaying a materially higher mix of the total," it says.

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AIM - LOSERS

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Abingdon Health PLC, down 30% at 56.35p, 12-month range 41.5p-136.65p. Hits this 12-month low earlier on Tuesday. The rapid tests manufacturer says results for financial year ending June 30 to be "substantially" below market expectations. It continues to make progress on commercialising the AbC-19 rapid test both in the UK private sector and internationally, and is encouraged by ongoing commercial discussions while progressing required regulatory approvals. "Whilst each of the opportunities at the time of the interims remains in place and the pipeline continues to grow, the speed of adoption and therefore the receipt of orders is taking longer than the board originally anticipated," it warns.

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Scotgold Resources Ltd, down 21% at 55.75p, 12-month range 46p-170p. Hits this 12-month low earlier on Tuesday. The gold exploration company concludes that ramp up of underground mining at production at Cononish will be slower than originally planned. Expects production for calendar year 2021 to be materially less than the guidance range communicated in March. "The recent delays to the production ramp-up have had and are expected to have a negative impact on the company's cash position," it says, adding it is looking into financing options, including short-term debt financing from the directors.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
24 Nov 2023 10:41

Scotgold Resources says administrators have assumed control of company

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22 Nov 2023 10:38

IN BRIEF: Scotgold Resources to appoint administrators in Australia

Scotgold Resources Ltd - Stirlingshire, Scotland-based gold and silver explorer - Considers appointing administrators in Australia. The company's only substantive assets are its holdings in SGZ Cononish Ltd and SGZ Grampian Ltd. Expects to proceed with an administration process for SGZ Cononish "soon". Meanwhile, the secured creditor over the assets of SGZ Cononish, Bridge Barn, has informed Scotgold it will enforce its rights over the shares held by Scotgold in SGZ Grampian. Scotgold shares have been suspended from trading on AIM since September 11.

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IN BRIEF: Scotgold director steps down ahead of administration

Scotgold Resources Ltd - Stirlingshire, Scotland-based gold and silver exploration company - Says Nathaniel le Roux resigns as director of the company and its subsidiaries, after almost ten years, effective immediately as the company heads toward administration. Says it is now evaluating its position to "consider all options" available to the company and subsidiaries. le Roux is the major-secured creditor of subsidiary SGZ Cononish Ltd.

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7 Nov 2023 17:47

TRADING: Zambeef sees profit above market views; Luceco trades in line

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

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16 Oct 2023 15:48

Scotgold Resources in advanced discussions with new investor

(Alliance News) - Scotgold Resources Ltd on Monday said it is now in discussions with a new strategic investor, after losing its "most advanced" investor at the start of October.

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2 Oct 2023 11:52

Scotgold Resources "most advanced" prospective investor pulls out

(Alliance News) - Scotgold Resources Ltd on Monday said its "most advanced" prospective investor has withdrawn from discussions, meaning it is now considering its strategic options, including the potential of appointing administrators over the coming days.

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19 Sep 2023 18:38

IN BRIEF: Scotgold seeks fresh funding to develop Cononish mine

Scotgold Resources Ltd - Stirlingshire, Scotland-based gold and silver exploration company - Updates on the mining plus review of the Cononish mine plan for the next twelve months. Says while the company further stated that while the geological data and documentation suggested "no fatal flaws" in the mineral resource estimate and grade control modelling process, the draft mine plan and associated cash flow forecasts are currently being reviewed by the company, but they indicate that to deliver to the plan, a significant capital investment is required.

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11 Sep 2023 18:17

TRADING UPDATES: Avation enters new lease for Airbus A320 with Cebu

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

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10 Jul 2023 10:17

Scotgold Resources begins review of mine after disappointing half

(Alliance News) - Scotgold Resources Ltd on Monday withdrew its full-year guidance as it began a third-party review of the Cononish mine plan for the next 12 months, following a "disappointing" first half of 2023.

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7 Jun 2023 12:57

IN BRIEF: Scotgold appoints CFO Sean Duffy as interim CEO

Scotgold Resources Ltd - Stirlingshire, Scotland-based gold and silver exploration company - Appoints Sean Duffy, its chief financial officer and board director, as interim chief executive officer. Duffy will take on the role immediately, whilst remaining as CFO. This follows the resignation of Phil Day last Thursday, who left the role "to spend more time with his family". At the time, Scotgold said it was "reluctantly" accepting Day's resignation.

Read more
1 Jun 2023 12:21

Scotgold Resources CEO resigns; will begin replacement process

(Alliance News) - Scotgold Resources Ltd on Thursday said Chief Executive Officer Phil Day has resigned to spend more time with his family.

Read more
15 May 2023 14:37

IN BRIEF: Scotgold raises GBP1.5 million in share offer

Scotgold Resources Ltd - Stirlingshire, Scotland-based gold and silver exploration company, primarily focused on developing the Cononish gold and silver mine in the Scottish highlands - Raises GBP1.5 million via a share subscription for 10.1 million open offer shares.

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21 Apr 2023 11:18

Scotgold announces fundraise as stoping transition progresses

(Sharecast News) - Commercial gold producer Scotgold Resources announced on Friday that the transition to the long hole stoping mining method at its Cononish mine was progressing well, and was in line with its mine plan.

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21 Apr 2023 09:51

Scotgold starts GBP2 million placing as Cononish progresses smoothly

(Alliance News) - Scotgold Resources Ltd on Friday said it will raise additional funds via a share subscription and open offer, following encouraging progress at the Cononish gold mine in Scotland.

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5 Apr 2023 12:19

Scotgold secures USD500,000 advance from gold off-take partner

(Alliance News) - Scotgold Resources Ltd on Wednesday said it has secured a USD500,000 advance to assist with its short-term working capital from its gold offtake partner.

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