AIM WINNERS & LOSERS: Karelian looks ahead to "exciting" year

Fri, 07th Feb 2025 11:31

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

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AIM - WINNERS

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Falcon Oil & Gas Ltd, up 17% at 7.48 pence, 12-month range 3.60p-13.44p. The oil and gas company

says stimulation work at the Shenandoah S2-2H ST1 asset in Asutralia's Beetaloo sub-basin has been completed. "We are extremely encouraged about the potential of the current stimulation program based on strong gas shows and other data observed whilst drilling. In addition, the experienced US operator, Liberty Energy, have shown the efficiencies they can achieve which will provide us with the greatest opportunity for the best possible outcomes from this stimulation program. We look forward to updating the market on the IP30 flow test results as soon as they become available," Chief Executive Officer Philip O’Quigley says.

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Karelian Diamond Resources PLC, up 8.9% at 1.03p, 12-month range 0.90-3.45p. It has been granted a new reservation, Kuumu 1, the Finnish Safety & Chemicals Agency notifies. "The reservation provides a one-year privilege to apply for an exploration permit in the area," Karelian says. The reservation is located in Lentiira, an area "considered highly prospective" by Karelian. Chair Brendan McMorrow says: "The year ahead promises to be an exciting one for the company with several aspects to the company's portfolio capable of progressing rapidly."

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AIM - LOSERS

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Belluscura PLC, down 67% at 2.14p, 12-month range 1.77p-27.00p. The firm raises around GBP4.0 million by way of a share placing. The medical device developer placed 199.2 million new shares on Thursday at 2p each. The issue price was around a 69% discount to the closing price on Wednesday.

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By Eric Cunha, Alliance News news editor

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