(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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BlueRock Diamonds PLC, up 11% at 45.00 pence, 12-month range 40.00p-63.50p. The South African-focused diamond miner discovers 58.6 carat stone at the Kareevlei diamond mine. Company expects sales value of the diamond to be "significant". Executive Chair Mike Houston says: "This is a very important discovery for BlueRock as it supports the 'size frequency distribution charts' that indicate our pipes will deliver large high-value diamonds along with the highly sought after 'run of mine' parcel of diamonds which have secured values of over USD400 per carat in 2021." Notes this is largest stone recovered in 2021.
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88 Energy Ltd, up 9.5% at 2.59 pence, 12-month range 0.27p-4.05p. The Alaska-focused oil exploration and appraisal company says Merlin-1 well successfully demonstrates the presence of oil in multiple stacked sequences in the Cretaceous Nanushuk Formation, which includes the N20 and N18 targets. Adds an additional new target, the N19 sand, that was not previously mapped, also returned a "strong" hydrocarbon signature following geochemical analysis. "Wireline analysis and core data correlate to 41 feet of net log pay across the 3 reservoir intervals. In addition, results of the post well formation evaluation, including core and reservoir description tool data have determined the presence of moveable hydrocarbons. Geochemical analysis of the cores has determined the presence of a light oil with an estimated API gravity between mid-30 to low-40 API," 88 Energy explains.
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Cellular Goods PLC, up 4.4% at 7.20 pence, 12-month range 6.15p-19.00p. Signs "multi-year" manufacturing and supply agreement with Chanelle McCoy Health Ltd for ingestible products. Pure cannabinoid products provider Chanelle McCoy Health to supply Cellular with three CBD ingestibles which will go on sale under Cellular Goods branding in UK first, then continental Europe in 2022.
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Tekmar Group PLC, up 4.0% at 52.00 pence, 12-month range 41.80-109.00p. The provider of technology and services for offshore energy markets signs memorandum of understanding with DeepWater Buoyancy Inc to form partnership to enhance their offshore energy project capability. "The partnership is focused on the new and emerging floating offshore wind market which has an exponential growth forecast of 10GW installed capacity by 2030. Tekmar and DeepWater Buoyancy will provide greater value across the life of a floating wind project by offering a collective package of geotechnical assessment and engineering analysis, cable and mooring system design, cable protection and stabilisation solutions, cable buoyancy, and mooring line buoyancy," Tekmar explains.
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AIM - LOSERS
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TP Group PLC, down 6.0% at 4.98 pence, 12-month range 3.18p-7.50p. The engineering firm rejects a takeover approach from Science Group PLC. Science Group says "obstructive approach of the TP Group board is indefensible". "For the avoidance of any doubt, Science Group has not withdrawn its interest in potentially making an offer for TP Group. However while Science Group believes there are considerable benefits for all stakeholders from a combination of the organisations, with the uncertain financial position of TP Group, it is unlikely that Science Group will be able to make an offer if the TP Group board continue to refuse to cooperate," Science Group says. Science Group is third-largest shareholder in TP Group after last Tuesday, when Science Group purchased 79.3 million TP Group shares - or 10% of the company's issued share capital - on the open market. Science Group shares are trading unchanged.
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By Paul McGowan; paulmcgowan@alliancenews.com
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88 Energy (88E)
Science Group (SAG)
Tekmar Group P. (TGP)