(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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Empire Metals PLC, up 28% at 1.6 pence, 12-month range 0.75p-2.6p. The resource explorer and developer discovers a "large magnetic anomaly" at the Pitfield copper project in Western Australia. "The mapping shows extensive copper, silver and other base metals anomalism over a 40 kilometre strike length, giving further confidence in the potential to discover a "giant" copper mineralised system at Pitfield,"
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Libertine Holdings PLC, up 13% at 15.85p, 12-month range 12p-42p. The linear generator product maker says revenue in the six months to September 30 was GBP600,000, compared to GBP100,000 a year before. It also notes the completion of its performance validation prototype, and will now begin combustion testing with MAHLE Powertrain. "We are excited about demonstrating the performance benefits and bringing our technology to market," says Chief Executive Sam Cockerill.
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AIM - LOSERS
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Longboat Energy PLC, down 16% at 31.69p, 12-month range 31.22-77.2p. The North Sea-focused energy company announces drilling results at Oswig "at the lower end of pre-drill expectations". In a preliminary estimate, recoverage resources at Oswig are thought to be between 10 and 42 million barrels of oil equivalent, based on in-place volumes of 100 to 215 million boe. "The Oswig fault block drilled has substantial volume potential and is located close to existing infrastructure. In addition, there is a possible large extension towards the south in the same fault block. Longboat looks forward to working with the partnership to define an appraisal programme and optimal well configuration for maximising flow rates from future potential development wells," Chief Executive Helge Hammer says.
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Yourgene Health PLC, down 9.3% at 3.4p, 12-month range 3.4p-13.57p. Shares in the medical diagnostics company hit a 12-month low as it updates on its first half ended September 30. Yourgene warns of "some erosion" to its margins due to the inflationary and economic pressures and currency fluctuations in the UK. It now expects margins to remain below the 60% level previously forecast. Total revenue drops to GBP9.6 million year-on-year from GBP17.5 million, "reflecting the transition away from Covid services post-pandemic".
"To mitigate the margin pressures, the board continues to assess its cost base in the context of its pipeline of commercial partnerships and discretionary investment options. The board is confident that it can further reduce operating costs to achieve positive adjusted [earnings before interest, tax, depreciation, and amortisation] in the next financial year," Yourgene says.
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By Elizabeth Winter; elizabethwinter@alliancenews.com
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