(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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Libertine Holdings PLC, up 17% at 24.00 pence, 12-month range 16.00p-42.00p. Enters memorandum of understanding with Ashok Leyland to evaluate the use of Libertine's technology platform for its commercial vehicle powertrains. Libertine develops technology for power generation from renewable fuels. Ashok will conduct due diligence on Libertine's technology and explore the scope for Linear Generator product development and demonstration within its commercial vehicle portfolio.
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Reabold Resources PLC, up 11% at 0.46 pence, 12-month range 0.10p-0.48p. Welcomes a policy change from the UK government which cancels the moratorium on hydraulic fracturing onshore in the UK. The oil and gas firm says the policy change could have a "materially beneficial effect" on its onshore business, including the potential to exploit additional resources within its existing licence interests.
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Orosur Mining Inc, up 7.3% at 14.75 pence, 12-month range 0.070p-17.16p. With its joint venture partner, Minera Monte Aguila, completes all the phase one obligations under the exploration agreement for the Anza project in Colombia. This includes investing USD10 million in the Anza project. Orosur is a mineral explorer and developer focused on South America. The companies now will shortly enter phase two under the exploration agreement, the forming of a new mining company. Orosur will have a 49% ownership interest in the company with Minera Monte Aguila taking the remaining 51%.
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AIM - LOSERS
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Tlou Energy Ltd, down 27% at 1.32 pence, 12-month range 0.014p-1.64p. Put under investigation in Australia by the country's company & financial services regulator. The commission is investigating two releases by the sub-Saharan Africa-focused power company. The investigation is into suspected contraventions by Tlou Energy of three sections of Australia's Corporations Act 2001 and three sections of the Australian Securities & Investments Commission Act 2001. Says it is co-operating with ASIC.
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Tanfield Group PLC, down 25% at 1.51 pence, 12-month range 1.50p-3.96p. In the six months ended June 30, pretax loss widens to GBP499,000 from GBP268,000 a year prior. Non-staff costs grow to GBP269,000 from GBP145,000. Finance expenses double to GBP188,000 from GBP81,000. Makes no revenue, unchanged from a year ago. The invest firm adds that it believes its 49%-owned firm Snorkel International Holdings LLC may need further loan funding "to ensure that the company continues to protect its investment in Snorkel". It values its investment in the Nevada-based aerial work platforms manufacturer at GBP19.1 million.
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Manolete Partners PLC, down 15% at 214.60 pence, 12-month range 190.00p-335.60p. Applies for permission to appeal the High Court's "rare adverse" and "surprising" decision received on one of its "larger cases". Says it has decided to write down the full value of the case in its forthcoming results for the six months ended September 30. The impact of the write-down will be a GBP2.3 million reduction to pretax profit. Manolete expects to announce a pretax loss of around GBP5 million in its financial year 2023 interim results. In financial 2022, the company reported a pretax profit of GBP4.5 million.
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By Heather Rydings; heatherrydings@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
Libertine Hold (LIB)
Reabold Resources (RBD)
Orosur Mining (OMI)
Tlou Energy (TLOU)
Tanfield (TAN)
Manolete Partn. (MANO)