(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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Mosman Oil & Gas Ltd, up 17% at 0.021 pence, 12-month range 0.010p-0.080p. The US and Australia-focused natural resource development company says it has received final governmental approval on the farm-in of its EP 145 helium and hydrogen project in the Northern Territory, Australia. Mosman is now targeting approvals for the next step of exploration by its farm-in partner, Greenvale Energy Ltd. Mosman currently holds a 100% interest in EP 145. However, Greendale will earn a 75% stake by funding a seismic acquisition programme and drilling a well with a cost cap of AUD5.5 million, GBP2.9 million. The seismic acquisition programme is planned for mid-2024, Mosman says, followed by drilling in 2025.
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Zenova Group PLC, up 26% at 2.40 pence, 12-month range 1.50p-5.85p. The London-based fire safety product manufacturer secures a two-year contract worth GBP2.4 million to supply 200,000 litres of its fire protection coating to Drips & Sparks Ltd. Drips & Sparks specialises in electrical fittings and services, and will use Zenova's product at the UK projects sites of Gracewood Construction Ltd. The contract comes after a 12-month trial of Zenova's coating by Drips and Sparks. Chief Executive Officer Thomas Melchior says: "This is a major contract win for our [fire protection] paint. In addition to a significant effort from our sales team working alongside Zensafe, winning this is also the result of the company's now well-engaged strategy of focusing on validating and aggressively marketing our best-in-class fire suppression products through a streamlined B2B distribution model."
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AIM - LOSERS
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Biome Technologies PLC, down 8.7% at 91.28p, 12-month range 91.28p-175.00p. The Southampton-based biotechnology company says its pretax loss widened to GBP1.6 million in 2023 from GBP800,000 in 2022. Revenue increased 13% to GBP7.0 million from GBP6.2 million. While Biome's Bioplastics division saw good growth, its RF Technologies segment saw revenue decline 46% to GBP1.0 million from GBP1.8 million. Biome separately releases a trading update for the first quarter of 2024, in which it reported a 44% decline in revenue to GBP1.1 million from GBP1.9 million, with Bioplastics and RF Technologies revenue down 45% and 25%, respectively.
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By Hugh Cameron, Alliance News reporter
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Mosman Oil Gas (MSMN)
Zenova Grp (ZED)
Biome Tech (BIOM)