(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.
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AIM - WINNERS
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Cora Gold Ltd, up 33% at 15.3 pence, 12-month range 6.9p-16.8p. The West African-focused gold company reports results from drilling at Sanankoro gold project, southern Mali. Highlights 49 metres at 15.55 grams per tonne gold and 32 metres at 7.83 grams per tonne gold. Calls these "two further fantastic holes" from the ongoing Sanankoro drill programme. "Even more significantly, the objective of this drilling has been to extend the existing 65m average depth pit shells at Selin deeper, and these initial results provide a great deal of encouragement as we target an updated resource at the end of this programme," says Chief Executive Bert Monro.
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88 Energy Ltd, up 17% at 2.83p, 12-month range 0.25p-4.7p. The Alaska-focused oil exploration and appraisal company says further studies conducted in conjunction with the Merlin-1 post well testing and analysis have identified additional upside at the Umiat oil field, Alaska. Receives approval from Bureau of Land Management to defer Umiat year 2 Unit well commitment by 24 months to end of August, 2023. "The 24-month extension to the Year 2 unit obligations allows the company to optimise a full field development plan, which will include evaluating potential synergies with plans associated with the project Peregrine acreage. It will also enable 88 Energy to use the knowledge gained from drilling the Merlin-1 well to plan an efficient operational program to maximise the chance of success at Umiat," it says.
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Cyanconnode Holdings PLC, up 10% at 12.15p, 12-month range 3.2p-14.5p. The narrowband radio frequency smart mesh networks firm wins contract for a smart metering deployment in Africa. Says around 90% of revenue will be recognised during the first two years of the contract with the balance being received during the annual maintenance contract.
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AIM - LOSERS
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Trinity Exploration & Production PLC, down 7.7% at 150p, 12-month range 73.45p-187.5p. Reports the sudden death of Bruce Dingwall, executive chair, on Tuesday. He founded Trinity in 2005, following the acquisition of Venture Production PLC's Trinidadian assets, and became executive chair in 2013.
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By Lucy Heming;Â lucyheming@alliancenews.com
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88 Energy (88E)
Cyanconnode (CYAN)
Cora Gold (CORA)
Trinity (TRIN)