AIM WINNERS & LOSERS: Panthera falls on concerns over India mining law

Tue, 16th Mar 2021 11:47

(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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Kore Potash, up 17% at 1.35 pence, 12-month range 0.00p-1.66p. The potash project developer receives share price query letter from ASX exchange about recent share price rise, but Kore says it is not aware of any reason for the recent increase. The stock closed up 65% in Sydney on Tuesday.

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IronRidge Resources, up 15% at 22.55p, 12-month range 7.0p-87.92p. The minerals explorer reports multiple high-grade lithium pegmatite drill intersections at new targets adjacent to the Ewoyaa lithium project in Ghana. High-grade mineralisation has been confirmed over a combined 440 metres of strike, with true widths between 10 metres to 12 metres which remains open at depth and along strike to the east.

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Oriole Resources, up 8.6% at 0.95p, 12-month range 0.00p-1.95p. The West Africa-focused exploration company notes investee Thani Stratex agrees to earning up to 85% interest in the Hodine exploration licence in Egypt.

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AFC Energy, up 7.7% at 52.74p, 12-month range 9.1p-94.4p. The hydrogen power generation firm signs first UK strategic partnership agreement with international consultancy and construction business Mace Group. AFC and Mace will develop long-term UK and international deployment strategies that support a transition from highly polluting diesel generators to zero emission hydrogen generators for construction sites.

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AIM - LOSERS

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Panthera Resources, down 11% at 15.95p, 12-month range 4.0p-39p. The India and West Africa-focused gold explorer and developer notes government of India has introduced a new bill into the Lok Sabha - the lower house of the India's parliament - to amend the Mines & Minerals (Development & Regulation) Act of 2015. Says should new act be passed by both houses of Parliament, it believes that it may hurt the company's joint venture partner, Metal Mining India, in terms of its right to secure approval of its prospecting licence applications for the Bhukia and Taregaon Projects in India.

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San Leon Energy, down 8.1% at 32p, 12-month range 8.6p-38p. The oil and gas company says operational activity on OML 18 in Nigeria remains low whilst OPEC quota restrictions are in place. Budget restrictions have been implemented to preserve cash, it adds.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com