AIM WINNERS & LOSERS: Joules jumps on Next talks; Tungten loss widens

Mon, 08th Aug 2022 11:44

(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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Joules Group PLC, up 49% at 49.04 pence, 12-month range 19.41p-275.00p. The British lifestyle brand confirms weekend press report that it is in discussions with FTSE 100-listed retailer Next PLC about a potential equity investment. The move, if it goes ahead, will see Next inject about GBP15 million into Joules, noting the price will be "at no less than Joules' current market price". As a result, Joules says Next would become a "strategic minority shareholder" in the lifestyle brand, without confirming the size of the stake.

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Touchstone Exploration Inc, up 20% 84.00p, 12-month range 51.60p-160.98p. The Trinidad & Tobago Environmental Management Authority accepts the company's Environmental Impact Assessment for the Cascadura project. The Cascadura project is in the Ortoire block, onshore Trinidad, in which Touchstone holds an 80% operating interest in the block.

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Tertiary Minerals PLC, up 9.2% at 0.14p, 12-month range 0.12p-0.31p. The mineral exploration and development company sells its royalty interests in the Kaaresselka and Kiekeromaa gold projects in Finland. Sells to Aurion Resources Ltd for CAD200,000, about GBP128,000, in cash and 83,333 Aurion shares. Aurion's shares closed at CAD0.68 each in Toronto on Friday, making the shares worth around CAD56,666 in total.

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AIM - LOSERS

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Tungsten West PLC, down 7.5% at 28.20p, 12-month range, 19.00p-90.00p. In the financial year that ended March 31, pretax loss widens to GBP13.0 million from GBP8.0 million the previous year. Revenue surges to GBP673,509 from GBP40,170, but administrative expenses more than double to GBP8.0 million from GBP3.7 million. Says results were in line with board expectations. The owner of Hemerdon tungsten and tin mine in Plymouth says it has been hurt by an inflationary environment and expects increased input costs to continue.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com