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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.
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AIM - WINNERS
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Beowulf Mining PLC, up 7.2% at 4.08 pence, 12-month range 3.38p-7.07p. The mineral exploration and development company says Finnish subsidiary Oy Fennoscandian Resources Ab granted EUR791,000 by Business Finland. The grant represents 50% of the three-year EUR1.6 million budget for Fennoscandian's spheronisation and purification of natural graphite for the European lithium-ion battery market project.
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Ergomed PLC, up 6.7% at 1,280.00p, 12-month range 400p-1,440p. The pharmaceutical services firm says it has had a strong start to 2021 as it builds on momentum seen last year. Now expects adjusted earnings before interest, taxes, depreciation and amortisation for full-year to be "materially ahead" of market expectations amid strong sales and order book growth. "Reported revenues for the full year are expected to be in line with market expectations, notwithstanding a higher proportion of US dollar denominated revenues leading to some FX headwinds," Executive Chair Miroslav Reljanovic says.
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Serica Energy PLC, up 6.4% at 125.60p, 12-month range 90p-135p. The upstream oil and gas company says stabilised flow rate of 58.4 million standard cubic feet per day of gas and 135 barrels per day of condensate has been achieved at Rhum R3 well through a 60/64ths inch choke. "Operations on R3 have proved more challenging than expected but the skill and dedication of our operational team has enabled us to achieve this welcome result. The volumes flowed during the test are equivalent to over 10,000 [barrels of oil equivalent per day] which demonstrates the quality of the Rhum asset," says Chief Executive Mitch Flegg.
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AIM - LOSERS
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Alien Metals, down 8.8% at 0.98p, 12-month range 0.08p-3.19p. The minerals exploration and development company has been advised by Capstone Mining Corp of the termination of the earn-in agreement signed among Alien, Estrella de Plata, Capstone Mining Corp and Capstone Gold SA de CV. The pact relates to Alien's Donovan 2 copper-gold project in Mexico. "Capstone have decided not to proceed with the exploration on Donovan 2, advising that their corporate strategy has shifted and also that they did not receive sufficient confidence from their maiden drilling recently completed on Donovan 2 to continue," says Alien Chief Executive & Technical Director Bill Good.
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President Energy, down 7.3% at 2.04p, 12-month range 1.1p-2.89p. The energy company gets extension to publish 2020 results. Says it needs more time to complete audit process for its accounts in light of continued difficulties faced in Argentina with respect to the pandemic. Publication of 2020 accounts will be delayed beyond normal reporting deadline of June 30, but expects to file results no later than August 31.
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By Lucy Heming; lucyheming@alliancenews.com
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