AIM WINNERS & LOSERS: Avacta gets approval; Jubilee's Roan at capacity

Mon, 05th Sep 2022 11:07

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

----------

AIM - WINNERS

----------

Avacta Group PLC, up 2.6% at 120.02 pence, 12-month range 38.00p-146.00p. Wins approval for AVA6000, a treatment of soft tissue sarcoma. The Cambridge, England-based drug developer and diagnostics company said the US Food & Drug Administration has granted orphan drug designation to the company's drug candidate. AVA6000 is a form of the chemotherapy drug doxorubicin, which slows or stops the growth of cancer cells by blocking an enzyme called topo isomerase 2.

----------

Block Energy PLC, up 19% at 1.82 pence, 12-month range 0.80p-3.10p. Starts drilling at JSR-01Deep in Georgia, about 26 miles to the east of the nation's capital Tbilisi. This marks the start of project II, its three-project strategy, the London-based oil and gas company adds. "This is the first of a series of wells in a wide range of project II opportunities designed to evaluate large, undrained areas of the deeper zones of the Middle Eocene reservoir and test contingent resources of over 200 million barrels of oil, defined by Block's technical team," it says.

----------

AIM - LOSERS

----------

Jubilee Metals Group PLC, down 3.1% at 12.70p, 12-month range 11.50p-18.50p. Its newly constructed Zambian copper concentrator Project Roan reaches nameplate capacity following the successful commissioning and ramp-up of its operations. The Berkshire, England-based metal processing company says Project Roan is a "core" component to its Zambian southern copper refining strategy, which aims to produce 12,000 tonnes of copper per year through the sable refinery. The project broke ground in June 2021 and the "ramp-up" of its operations began during June this year. Jubilee said that the commissioning and ramp-up at the Project Roan has been successful, with the project now processing 110 tonnes of ore per hour.

----------

By Paul McGowan; paulmcgowan@alliancenews.com