(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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Thor Energy PLC, up 15% at 1.72 pence, 12-month range 1.36p-4.00p. The US and Australia-focused mineral exploration company completes reverse circulation drilling program on the its wholly owned Wedding Bell and Radium Mountain projects. The projects are located in the uranium-vanadium mining district of the Uravan Mineral Belt, southwest Colorado, US. "The high-grade uranium (up to 0.6%) and vanadium (1.8%) assay results confirm the high-grade nature of the Saltwash style sandstone uranium systems, within the prolific Uravan Mineral Belt. The assay results also confirm the presence of wide intervals of high-grade uranium mineralisation within a halo of vanadium mineralisation," says Nicole Galloway Warland, managing director of Thor Energy. "Whilst these 100% owned projects are uranium assets, the 10:1 vanadium-to-uranium confirms the rich vanadium endowment."
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AIM - LOSERS
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Beacon Energy PLC, down 31% at 0.050p, 12-month range 0.045p-0.28p. The oil and gas company raises EUR3.0 million through issue of 5.1 million shares. "We're pleased to have completed this fundraise and thank our new and existing shareholders for their support in the process. Having attempted various low-cost remedial works to bring the SCHB-2(2.) well into production at the volumes expected from the sub-surface results of that well, it became clear that the proposed side-track would be required," says CEO Larry Bottomley. "As previously guided, based on the excellent reservoir properties and light oil recovered by the well, and the higher rates of production achieved on historic wells in the area, management maintains belief that the well can produce at materially higher levels."
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Avacta Group PLC, down 29% at 53.00p, 12-month range 51.25p-166.98p. The life sciences company developing oncology drugs and diagnostics increases placing to GBP25.7 million from GBP20 million. It says it has already successfully placed 51.3 million shares priced at 50p each. CEO Alastair Smith says: "Critically, this financing provides Avacta with 24 months of cash runway to focus on advancing AVA6000 through the clinic, as well as progressing other assets earlier in the development cycle to hit key commercial milestones."
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By Sophie Rose, Alliance News senior reporter
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Thor Energy (THR)
Beacon Energy. (BCE)
Avacta Group (AVCT)