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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
16 Mar 2020 15:19

Vast Resources trying to maintain Baita Plai timeline

(Sharecast News) - Mining company Vast Resources updated the market on progress at its Baita Plai polymetallic mine in Romania on Monday, following President Iohannis declaring a state of emergency in the country as of 16 March, in response to the Covid-19 coronavirus pandemic.

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31 Jan 2020 14:22

Vast Resources completes first drawdown of Atlas Capital facility

(Sharecast News) - Vast Resources announced on Friday that the first tranche drawdown process of the Atlas Capital Markets, adjoined with Atlas Special Opportunities, facility under the bond issue deed that it announced on 24 October, had been completed, with confirmation of payment now received.

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2 Jan 2020 15:02

Vast Resources drawing down first tranche of Atlas Capital funding

(Sharecast News) - Mining company Vast Resources has submitted a drawdown request for the first tranche Issuance to Atlas Capital Markets, it announced on Thursday, in accordance with the terms and conditions of the bond issuance deed.

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2 Jan 2020 12:16

Vast Resources Requests First Tranche Of Atlas Capital Funding

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31 Dec 2019 13:40

Vast Resources Receives GBP1,303 From Warrant Exercise

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23 Dec 2019 17:35

Vast Resources Begins Drilling At Romania Polymetallic Project

Vast Resources Begins Drilling At Romania Polymetallic Project

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23 Dec 2019 14:54

Vest Resources begins drilling at Baita Plai

(Sharecast News) - Vast Resources announced on Monday that it has started the drilling programme at its Baita Plai Polymetallic Mine in Romania.

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18 Dec 2019 14:14

Vast Resources To Get First Part Of USD15 Million Facility By 2019-End

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16 Dec 2019 16:22

Vast Resources announces cold commissioning of Baita Plai

(Sharecast News) - Mining company Vast Resources announced the cold commissioning of Baita Plai Polymetallic Mine on Monday.

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28 Nov 2019 16:41

Botswana Diamonds And Vast Resources Agree Terms For New Zimbabwe Deal

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28 Nov 2019 16:05

Vast Resources revises agreement with Botswana Diamonds

(Sharecast News) - Romania and Zimbabwe-focussed mining company Vast Resources has revised its agreement with Botswana Diamonds as a consulting partner in the development of the Chiadzwa Community Diamond Concession in the Marange Diamond Fields of Zimbabwe, it announced on Thursday.

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11 Nov 2019 12:05

Vast Resources Appoints Chief Financial Officer Fletcher To Board

Vast Resources Appoints Chief Financial Officer Fletcher To Board

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11 Nov 2019 11:55

Paul Fletcher joining Vast Resources board as finance director

(Sharecast News) - Mining company Vast Resources announced the appointment of Paul Fletcher as its finance director on Monday, with immediate effect.

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30 Oct 2019 16:10

UK Shareholder Meetings Calendar - Next 7 Days

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22 Oct 2019 15:34

Vast Resources Down After Chiadwza Diamond Project Financing Delay

Vast Resources Down After Chiadwza Diamond Project Financing Delay

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