(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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PHSC PLC, up 21% at 17.00 pence, 12-month range 7p-19.9p. Hits this 12-month high earlier on Thursday. The health & safety consulting firm expects revenue of GBP3.3 million for year to March 31, down from GBP4.4 million the year before, but underlying earnings before interest, taxes, depreciation and amortisation expected to rise to GBP520,000 from GBP255,000. Starts share buyback programme worth GBP325,000. "The company's board of directors has decided to effect the buyback programme, in part, due to the additional cash generated and held further to the successful disposal of the company's Essex property in late September 2018 for GBP305,000 gross and in light of the fact that PHSC's closing middle market share price as at May 12, being the latest practicable date prior to this announcement, of 14p represents a significant discount to its net asset value per share," it says.
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Goldstone Resources Ltd, up 19% at 13.80p, 12-month range 2.5p-15.49p. Says mining and ore stacking at the Homase Mine within Akrokeri-Homase gold project, Ghana, has commenced with the first mined ore having been successfully stacked onto the heap leach pad. "This is a pivotal step in the evolution of the company as we start production of the Homase Mine. Commencement of operations will lead to an ongoing revenue stream and will also establish a base for unlocking value in our AKHM project," says Chief Executive Emma Priestley.
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AIM - LOSERS
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Best of the Best PLC, down 14% at 2,665p, 12-month range 556.92p-3,570p. Says revenue and pretax profit for financial year ended April 30 to be in line with market expectations, which were raised in March. Even with Thursday's decline, shares still up 86% since start of 2021 and have grown more than four-fold over past 52 weeks.
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e-Therapeutics PLC, down 11% at 25.53p, 12-month range 1.01p-33p. The drug discovery company reports pretax loss of GBP4.5 million for year to January 31, widening from GBP2.9 million the year before. Widened loss largely due to administrative costs rising to GBP2.1 million from GBP1.2 million, with a management restructure in February 2020 resulting in one-off redundancy costs of GBP400,000. "Although we are not expecting the same level of one-off expenditure, we are expecting the underlying cost base to increase as the business continues to grow," company says.
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Online Blockchain PLC, down 10% at 41.43p, 12-month range 11p-127.5p. The blockchain research and development company falls after Tesla hit the brakes on letting people pay for electric cars with bitcoin, saying the computing-intense mining process of creating new cryptocurrency spews climate-harming emissions. "We are concerned about rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel," Tesla Chief Executive Elon Musk says in a tweet. "Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this can not come at great cost to the environment." The cryptocurrency initially tumbled after Musk's tweet, before recovering slightly to around USD50,773 early Thursday, according to cryptocurrency news outlet Coindesk. Main Market-listed cryptocurrency mining firm Argo Blockchain falls 11%.
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By Lucy Heming; lucyheming@alliancenews.com
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Goldstone Resources (GRL)
E-therapeutics (ETX)
PHSC (PHSC)
Argo Blockchai. (ARB)