AIM WINNERS & LOSERS: Oriole Resources firms new gold targets at Mbe

Tue, 13th Aug 2024 11:10

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

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AIM - WINNERS

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Oriole Resources PLC, up 12% at 0.29 pence, 12-month range 0.070p-0.57p. The West Africa-focused mineral exploration company provides an update for the Mbe gold project in Adamawa, Cameroon, of which it owns 80%. Following confirmation of gold from an infill soil sampling programme earlier in the year, says results from a second infill soil sampling programme over the wider Mbe licence area have identified three further zones of gold anomalism. Says that while initial results are lower than at MB01, these results are still "highly anomalous for soils", and all three zones present attractive targets for potential satellite deposits

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Eden Research PLC, up 8.4% at 4.50 pence, 12-month range 3.61p-7.45p. The firm is an Oxfordshire, England-based company that develops sustainable biopesticides and plastic-free formulation technologies for use in the global crop protection, animal health and consumer products industries. Celebrates grant of regulatory authorisation for use of its flagship biofungicide, Mevalone, in Germany. Mevalone is authorised for professional use on grapevines and apples to control Botrytis on grapes and for the prevention of storage diseases on apples.

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AIM - LOSERS

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Touchstone Exploration Inc, down 4.4% at 29.88p, 12-month range 27.12p-30.19p. The oil and natural gas exploration and production firm, which is active in Trinidad & Tobago, posts total revenue for the six months ended June 30 of USD23.5 million, up from USD11.0 million a year prior. Petroleum and natural gas sales come to USD30.7 million from USD15.7 million. Profit before tax swings to USD7.2 million from a loss of USD785,000, while net earnings swing to USD7.0 million from a loss of USD350,000. However, the firm's shares fall on altered annual guidance, which now reflects a 15% reduction in the midpoint of Touchstone's production forecast, driven by year-to-date production levels. Original capital guidance in the fourth quarter of the year contemplated drilling one Coho development well and one Coho exploration well. In order to focus on the development of our Cascadura field, Touchstone says it has elected to postpone its Coho capital program and drill two additional Cascadura development wells from the Cascadura B site.

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By Holly Beveridge, Alliance News senior reporter

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