AIM WINNERS & LOSERS: ECR Minerals hails Creswick drilling

Mon, 12th Feb 2024 10:46

(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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ECR Minerals PLC, up 17% at 0.29 pence, 12-month range 0.19p-0.83p. The Australia-focused gold exploration company says additional drilling at Creswick asset has led to a "significant increase in gold grades". "This phase of drilling completed on time and on budget and second phase of drilling at Kuboid Hill, Creswick now underway," ECR adds.

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Malvern International PLC, up 5.0% at 26.25p, 12-month range 11.04p-30.00p. The learning and skills development firm says revenue in 2023 surged 79% to GBP11.3 million and it achieved a pretax profit from trading activities of GBP300,000, swinging from a loss of GBP1.0 million.

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AIM - LOSERS

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Corcel PLC, down 12% at 0.84p, 12-month range 0.22p-1.40p. The operator of the Tobias-14 well in Angola, which Corcel has a 20% stake in, says testing of the asset has begun. However, Corcel noted there were delays to the start of testing "due to longer than expected timelines for deliveries of required testing equipment, combined with severe inclement weather at the well location, which included heavy rains and regional flooding". Corcel adds: "Once completed, the operator will then move the test equipment to the TO-13 well pad, which is already being prepared for testing, and will conduct flow testing on the TO-13 well. With testing underway, the company now expects to receive initial flow tests results for TO-14 over the next several weeks."

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By Eric Cunha, Alliance News news editor

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