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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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Strategic Minerals PLC, up 30% at 0.19 pence, 12-month range 0.08p-0.4p. The miner with projects in New Mexico, South Australia and the UK continues Thursday's climb, having jumped 50%. On Thursday, it reported the return of an unnamed major client, with a purchase order for 30,000 tonnes in 2024. In 2023, the firm's sales volumes at Cobre dropped by around 50% year-on-year, in the absence of the client. However, in December, the client asked for pricing on a significant order which was 50% higher than previous years, before the purchase order of 30,000 tonnes was agreed.
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AIM - LOSERS
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Versarien PLC, down 40% at 0.90p, 12-month range 0.07p-8.5p. The Cheltenham, England-based engineering materials company raises GBP400,000 through a placing of 500.0 million shares priced a 0.08p each - representing a 47% discount to Thursday's closing price of 0.15p. Will use the proceeds for it corporate purposes and as working capital as it seeks to capitalise on its pipeline opportunities. This follows challenges in progressing disposals of some of its assets to raise cash.
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Big Technologies PLC, down 29% at 90.85p, 12-month range 71.2p-300p. The remote people monitoring technology company provides a somewhat downbeat outlook for 2024. Warns revenue from a contract one of its one of its larger Colombia-based customers will probably end in the first half. However, new recent contract wins will partially offset the potential loss. In the second half of 2023, it expanded business development efforts in the US, with the associated costs likely to reduce operating profit margins in the US until the firm realises new sales. The investment is likely to accelerate sales growth over the medium term. Consequently, the firm guides for sales to be "at least" in line with 2023. It expects revenue for 2023 to be around GBP55 million, rising from GBP50.2 million and in line with market consensus. "More detailed guidance for 2024 will be given at the time of our results in March when the outcome in Colombia is known with greater certainty," it added.
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By Elizabeth Winter, Alliance News deputy news editor
Comments and questions to newsroom@alliancenews.com
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