(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.
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AIM - WINNERS
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Kefi Gold & Copper PLC, up 16% at 0.67 pence, 12-month range 0.49p-1.23p. The exploration firm notes that a USD320 million funding plan for the Tulu Kapi gold project in Ethiopia is closer to being finalised. Kefi says that after conditional final credit committee approval at the lead lender in January, all other parties in the funding syndicate will "this month go to their respective committees" to approve the funding plan. The update follows "several days of meetings" Tulu Kapi stakeholders at the recent mining indaba in Cape Town, South Africa. "The Ethiopian federal government also attended and reaffirmed its equity capital investment has been fully documented, committed and already partly invested. The contractors in the syndicate have all reaffirmed their intention and readiness to enter into the already-drafted definitive documentation to enable full project launch in H1 2024 as previously outlined," Kefi says.
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AIM - LOSERS
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Saietta Group PLC, down 54% at 7.40p, 12-month range 6.10p-78.00p. The manufacturer of electric drivetrain systems says it will be selling a redundant production line after missing out on a potentially lucrative manufacturing contract. The company has received a proposal of GBP600,000 from an unnamed buyer for the purchase of a redundant production line at its Sunderland manufacturing site. Saietta explains that the sale is the result of the company being unable to reach a commercial agreement for a contract to product electrical steering pumps at the plant in the north east of England. While the contract was not for any of Saietta's products, the company says that the deal would have "contributed materially to group revenue over the medium term".
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ECR Minerals PLC, down 8.2% at 0.26p, 12-month range 0.19p-0.83p. The Australia-focused gold exploration company returns a portion of its 14% gain from Monday. It said on Monday that additional results from its 2024 drilling programme at the Creswick gold project showed a "significant increase in gold grades overall".
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By Eric Cunha, Alliance News news editor
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Kefi Gold & Copper (KEFI)
ECR Minerals (ECR)