(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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Marechale Capital PLC, shares more than double to 3.40 pence after closing at 1.65p on Friday, 12-month range 0.90p-6.80p. The corporate finance firm jumps after sealing a transaction which sees it snap up founder shares in Durham-based lithium exploration and development company Weardale Lithium Ltd. Marechale has an 8.7% stake in Weardale. Excluding additional, undated warrants, Marechale's Weadale stake is valued at GBP1.5 million. Shares are 50% below its 52-week high, which it hit back in February.
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Falcon Oil & Gas Ltd, up 33% at 13.40 pence, 12-month range 0.049p-15.00p. The exploration firm, with assets in Australia, South Africa and Hungary, adds to Friday's bumper gains. Falcon's stock more than doubled on Friday after it shared promising results from a log test at its Amungee NW-1H well. Results at the Australian well, located in the Beetaloo sub-basin, showed a normalised gas flow rate equivalent to between 5.2 million and 5.8 million standard cubic feet a day per 1,000 metres of horizontal section. Chief Executive Philip O'Quigley noted gas flows greater than three standard cubic feet per day are needed to demonstrate the commercial potential of the Beetaloo asset.
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Redx Pharma PLC up 36% at 82.50 pence, 12-month range 47.00p-93.75p. The Cheshire-based cancer and fibrosis drug developer rises on the back of Sunday Times on Sunday hailing its "remarkable recovery" since 2017. The newspaper says the stock is "reaping the rewards of its turnaround".
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AIM - LOSERS
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Belvoir Group PLC, down 1.8% at 274.95p, 12-month range 125.02p-325.99p. The estate agent franchise firm, which hit its 12-month high on August 27, has since suffered a four-day losing streak which looks set to be extended to five, despite posting strong interim results. Pretax profit for the six months ended June 30 was GBP4.8 million, up 51% from GBP3.2 million a year previously. The increase was due to the stronger sales market in the period compared to last year, Belvoir said. Interim revenue increased 41% to GBP13.8 million from GBP9.8 million. It raised its interim dividend to 4.0p from 3.4p a year earlier.
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By Eric Cunha; ericcunha@alliancenews.com
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Marechale Cap. (MAC)
Redx Pharma (REDX)
Falcon Oil (FOG)