(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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Karelian Diamond Resources PLC, up 8.9% at 3.05 pence, 12-month range 1.51p - 3.60p. The exploration company says that programmes are planned to begin in the Kuhmo region of Finland for diamonds and in Northern Ireland for nickel, copper and platinum group metals. The exploration programme in Kuhmo will be carried out in tandem with initial work on the company's mining concession area at Lahtojoki, which will include environmental studies and an updated technical and financial assessment to be followed by further drilling and bulk sampling, particularly in relation to the percentage of pink diamonds present in the deposit. Chair Richard Conroy says: "The work, in both cases, will give us additional information and in relation to Finland could include the discovery of diamonds in one or more of the kimberlite targets."
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AIM - LOSERS
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Thor Energy PLC, down 13% at 0.26 pence, 12-month range 0.20p - 0.90p. The uranium and vanadium explorer provides an update on its 100% owned Wedding Bell and Radium Mountain projects in the Uravan mineral belt in the US state of Colorado. Says assays at the projects validate downhole gamma readings for uranium and confirm broader vanadium mineralisation. Vanadium assay results include 1.5 metres at 2,660 parts per million, or 0.27%, vanadium oxide from 83.8 metres and 1.5 metres at 1,776 ppm, or 0.18%, vanadium oxide from 59.4 metres. Drill permitting has begun for follow-up drilling at the projects. Managing Director Nicole Galloway Warland says: "We are pleased to receive these very encouraging vanadium assay results for the selection of physical samples sent for analysis."
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Touchstone Exploration Inc, down 11% at 58.00 pence, 12-month range 51.00p - 114.00p. The oil and gas company reports that the initial Royston-1X production test of the least prospective section of the well confirmed the presence of light crude oil at non-commercial rates. During testing, the well did not flow oil to surface. Touchstone says the section of the formation appears to be a low permeability reservoir, and, consequently, further testing will not be conducted. Touchstone has an 80% operating working interest in the well, which is located on the Ortoire block onshore in the Republic of Trinidad & Tobago. Touchstone will continue testing operations with potentially four additional tests targeting an aggregate 384 gross feet. The next well test will target a gross interval of 70 feet in the middle portion of the subthrust sheet and will be performed with a service rig. Chief Executive Paul Baay says: "We are encouraged that the initial test of the Royston-1X well successfully confirmed the presence of light oil in the subthrust sheet, validating our internal wireline log analysis. The test results and crude oil analysis have been crucial to establish the extent of the hydrocarbon column penetrated by the wellbore, providing valuable baseline information for evaluating the log data and defining future testing intervals."
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By Heather Rydings, Alliance News senior economics reporter
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Karelian (KDR)
Thor Energy (THR)
Touchstone Exploration (TXP)