(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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Helium One Global Ltd, up 71% at 2.35 pence, 12-month range 0.19p-10.30p. The primary helium explorer updates on the completion of the Itumbula West-1 well which saw helium flow to surface. It says Itumbula West-1 well has successfully completed all wireline logging and drill stem testing operations. The well successfully flowed a high concentration of helium to surface from Basement, at a measured concentration up to 4.7% helium. "We are delighted with the findings from Itumbula West-1 and the results from the down hole well testing have clearly confirmed the presence of a producing helium province in the Rukwa Rift Basin. The learnings from the Tai-3 well provided invaluable additional subsurface information and how the helium system works. By applying these findings, we adjusted our well location at Itumbula, and this has certainly yielded the results we were hoping for and justified that decision," Chief Executive Lorna Blaisse says.
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t42 IoT Tracking Solutions PLC, up 36% at 3.28p, 12-month range 2.00p-11.55p. t42 provides tracking, security, and monitoring solutions for the global supply chain, logistics, container, and freight market. It notes a significant follow-up agreement with an unnamed customer has agreed to place orders for up to 30,000 'Lokies' units over the next three years, together with associated Software as a Service fees. If received and deployed, the orders are estimated to deliver revenues of over USD7.5 million to the company. However, it notes that there is no guarantee of the total number or timing of ordering of units, nor revenue to be derived from the agreement. CEO Avi Hartmann says: "t42 is witnessing the tangible impact of its long-term efforts to integrate cutting-edge solutions within the supply chain industry. There is a notable global surge in interest for 'Lokies' and the associated comprehensive t42 solution, which is expected to be positively reflected in the Company's financial results in 2024 and beyond."
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AIM - LOSERS
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Bidstack Group PLC, down 62% at 0.21p, 12-month range 0.20p-2.30p. Shares in the in-game advertising firm plummets. In October, Bidstack entered into a GBP2.4 million loan agreement with strategic investor Irdeto BV. However, it now says that Irdeto has not obtained the appropriate disclosures and requisite documentation from its parent company Multichoice. "Whilst the company is keen to continue to work with Irdeto as previously announced, the Board of the company feels that it must also consider other funding alternatives and has decided to initiate a strategic review," Bidstack says.
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By Sophie Rose, Alliance News senior reporter
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Helium One (HE1)
T42 Iot Track. (TRAC)