(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.
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AIM - WINNERS
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GreenRoc Mining PLC, up 13% at 3.95 pence, 12-month range 3.00p-6.40p. The mineral explorer notes the recent decision by the Chinese government to implement export restrictions on graphite. China on Friday announced new curbs on exports of certain types of graphite, key to making batteries for electric vehicles, days after the US slapped fresh restrictions on outflows of high-tech microchips, AFP reported. China was the world's leading graphite producer last year, accounting for an estimated 65% of total production, according to the US Geological Survey. GreenRoc's Chief Executive Stefan Bernstein comments: "This development is a timely reminder that our plans at GreenRoc to bring our world-class graphite deposit at Amitsoq in South Greenland into production in the space of a few years, alongside the development of a processing plant to produce anode-ready material for EV battery manufacturers, mean that we are ideally positioned to play a critical role in Europe and North America's energy transition."
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Beowulf Mining PLC, up 11% to 1.53p, 12-month range 1.25p-5.00p. The mining company, alongside its wholly owned Swedish subsidiary Jokkmokk Iron Mines AB, updates on recent activity at the Kallak Iron Ore project. It says the environmental baseline studies are progressing in preparation for both the completion of the Environmental Impact Assessment and subsequently the submission of the Environmental Permit application. The company also notes that the pre-feasibility study has been initiated with the appointment of SLR Consultant Ltd as lead consultant. "Work is ramping up at the Kallak project. The environmental baseline studies, including monitoring sound, vibration, surface water, and natural values continues, building up the required data for the EIA and Environmental Permit application," CEO Ed Bowie says.
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AIM - LOSERS
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FD Technologies PLC, down 38% at 802.00p, 12-month range 740.00p-1,245.00p. FD is a group comprising several data-driven businesses, including technology and digital solutions providers KX, First Derivative, and MRP. FD says revenue in the six months ended August 31 fell to GBP142.5 million from GBP147.4 million a year earlier. It swings to a pretax loss of GBP4.5 million, compared to a GBP1.1 million profit a year earlier. Looking ahead, FD Technologies remains confident in achieving its target of at least 35% growth in annual recurring revenue for the full year. It adds that it expects financial 2024 revenue to be in the range of GBP285 million to GBP295 million, compared to GBP296.0 million a year ago.
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By Sophie Rose, Alliance News reporter
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FD Technologies (FDP)
Greenroc Mining (GROC)
Beowulf (BEM)