AIM WINNERS & LOSERS: Invinity charges higher; SysGroup cautions

(Alliance News) - The following stocks are the leading risers and fallers on AIM on Tuesday.

----------

AIM - WINNERS

----------

Invinity Energy Systems PLC, up 25% at 14.67 pence, 12-month range 8.50p-36.44p. The manufacturer of utility-grade energy storage systems announces the launch of its Endurium "next-generation vanadium flow battery" for general sale. "Endurium is available in configurations optimised for discharge durations spanning 4 to 18 hours and offers a number of key product improvements including a lower cost of storage, greater energy density, simplified maintenance and improved round-trip efficiency, while retaining the existing safety, durability and longevity benefits already proven by Invinity's previous product generations," Invinity says.

----------

Cadence Minerals PLC, up 22% at 2.80 pence, 12-month range 2.20p-7.00p. The resource sector-focused investor reports an updated pre-feasibility study on the Amapa iron ore project in Brazil. Cadence has just under a 35% stake in the asset. The new study suggests a 73% increase in the post-tax net present value, at a 10% discount rate, of USD1.97 billion. Average annual free cash flow from start-up to closure is estimated to be USD342 million. "The increased net present value of USD1.97 billion and improved post-tax internal rate of return reflect significant advancements in the project's robust economics," Chief Executive Officer Kiran Morzaria says.

----------

AIM - LOSERS

----------

SysGroup PLC, down 19% at 23.00p, 12-month range 18.78p-38.00p. The IT services, cybersecurity and cloud hosting provider warns on annual earnings. Its pretax loss in the half-year to September 30 is largely unmoved at GBP1.1 million. Revenue falls 7.4% to GBP10.2 million from GBP11.0 million. SysGroup expects revenue for the full-year will be shy of current market expectations, amid "longer-than-expected sales cycles".

----------

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Invinity Energy

Cadence Mineral