(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Helium One Global Ltd, up 70% at 0.63 pence, 12-month range 0.18p-10.3p. The primary helium explorer adds to Thursday's gains, after jumping sharply from 0.21p. It said its Itumbula West-1 well in Tanzania has successfully reached a total depth of 961 metres. Elevated helium shows, which were twenty times above background, were consistently measured while drilling the Lake Beds Formation, Red Sandstone Group, Karoo Group and Basement targets.
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Primorus Investments PLC, up 25% at 3.24p, 12-month 2.3p-4.5p. The investor notes that San Francisco-based software multinational Autodesk Inc announces the conditional acquisition of Payapps Ltd, in which Primorus holds around a 2% stake. Payapps is a Melbourne-based construction payment and compliance management solutions provider. The acquisition consideration is not disclosed.
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AIM - LOSERS
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Active Energy Group PLC, down 76% at 0.4p, 12-month range 0.4p-7.50p. The biomass-focused renewable energy company's stock hits a 12-month low following an update on its future production of CoalSwitch fuel reference plant being constructed at Ashland, Maine. The facility has seen a series of delays, and Active Energy has been in discussions with Player Design Inc and its associates, which are building the plant. It warns the discussions have been "unproductive". It says Player Design is no longer willing or able to commit to a future production date for CoalSwitch fuel, or the future production volumes of CoalSwitch fuel. "This recent development is hugely disappointing for Active Energy, who have several potential customers lined up to receive CoalSwitch fuel at the earliest opportunity," it says. It retains ownership of some of the production equipment, valued at USD1.5 million last June, and contributed USD1.1 million towards development. It also prepaid Player Design a further USD300,000. "The board is now seeking the immediate return of these cash balances and has retained legal counsel in the United States to investigate and advise in regard to all of Active Energy's rights and remedies," it says.
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Coral Products PLC, down 25% at 12.38p, 12-month range 11.5p-19.5p. The designer, manufacturer and supplier of plastic products reports a challenging trading period in December and January. Says group orders are down, and now expects revenue to be around 10% below financial 2023's GBP35.2 million. Its earnings before interest, tax, depreciation and amortisation margins will also be hit by the deleveraging effect. Profit in financial 2024 and the following year, though to a lesser extent, will be below management and market expectations. Will undertake a comprehensive review of the business, led by new CEO Lance Burn. "Critically, our customers remain with us and we will use this moment as an opportunity to reset the business with a strong platform for long-term growth," Burn says.
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By Elizabeth Winter, Alliance News deputy news editor
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Helium One (HE1)
Primorus Inv. (PRIM)
Active Energy (AEG)
Coral Products (CRU)