(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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Kefi Gold & Copper PLC, up 44% at 0.71 pence, 12-month range 0.42p-2.10p. The miner says it has been informed by the Ethiopian government that the Tulu Kapi license has not been cancelled. The Ethiopian Minister of Mines told the company that recent media reports of license cancellation were inaccurate, and confirmed that the regulator's review will continue to ensure the earliest possible launch of the gold project. In addition, KEFI says it has signed an umbrella agreement with the project's finance syndicate, setting out a full funding package.
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MySale Group PLC, up 28% at 1.59p, 12-month range 1.03p-8.95p. Mike Ashley's Frasers Group PLC acquires a 28.7% holding in the Australian-based fashion marketplace. Frasers says this creates an opportunity for a strategic partnership whereby end of line products can be cleared via an established clearance channel. This pipeline will be enhanced by the benefits of counter seasonality between the European and Australian climates, the FTSE 250 company adds. Frasers is down 1.9%.
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AIM - LOSERS
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Cornerstone FS PLC, down 44% at 10.70p, 12-month range 8.15p-42.5p. The cloud-based payment services provider posts widened pretax loss in 2021 of GBP4.2 million from GBP2.2 million in 2020 on revenue that rises 38% to GBP2.3 million from GBP1.7 million. Cornerstone also says Non-Executive Chair Elliott Mannis is stepping down from August for personal reasons. He will be replaced by Non-Executive Director Gareth Edwards.
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ValiRx PLC, down 34% at 10.80p, 12-month range 10.34p-63.00p. The drug development company plans to raise GBP1.5 million through a discounted placing. The proceeds will be used for working capital to continue development of its assets and to strengthen the balance sheet with a view to potential acquisitions. ValiRx will place 15 million shares at 10.00p a share, a discount of 38% to 16.25p closing share price on Wednesday.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Kefi Gold (KEFI)
Cornerstone Fs (CSFS)
ValiRx (VAL)