(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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Oriole Resources PLC, up 14% at 0.20 pence, 12-month range 0.07p-0.28p. The west Africa-focused gold exploration company signs an earn-in agreement with BCM International Ltd related to the Cameroonian Bibemi gold project. In November, Oriole signed two heads of terms deals with the Ghana-based mining and civil contractor relating to earn-ins at the Bibemi and Mbe Gold projects. Oriole holds a 93% and 90% stake in the projects, respectively. A definitive earn-in agreement between the parties for Bibemi has now been reached, which will earn BCM up to a 50% interest in the exploration project. In exchange, BCM will be required to spend USD4.0 million in exploration costs, alongside future resource-linked success-based payments and a signature payment of USD450,000 to Oriole, which the company said is currently being processed. "With our strategies and goals aligned at Bibemi, and also Mbe, we believe this is the start of something significant for Oriole, BCM and for exploration and mining in Cameroon," says Oriole CEO Tim Levesey.
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LendInvest PLC, up 11% at 30p, 12-month range 25.25p-97p. The non-bank mortgage lender says its subsidiary LendInvest BTL Ltd completes the GBP5 million sale of its non-risk retention residual interest in the Mortimer BTL 2023-1 PLC securitisation. Says the transaction will result in a reduction in gross loans and advances of around GBP392 million, alongside a net pretax gain of around GBP12.1 million for its financial year ending March 31. In financial 2023, pretax profit ticked up to GBP14.3 million from GBP14.2 million the year before. In the first half of its financial 2024, LendInvest swung to a pretax loss of GBP15.1 million from a profit of GBP14.8 million a year earlier. Chief Executive Officer Rod Lockhart says: "We are delighted to have successfully completed this sale, which will strengthen our balance sheet, and underlines our focus on returning the business to profitability."
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AIM - LOSERS
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Revolution Bars Group PLC, down 20% at 4.35p, 12-month range 2.45p-8.9p. The pub and bar operator says it will close eight of its least profitable bars, as its younger customer base suffers disproportionately from the UK's cost-of-living crisis. It also points to a challenge from the 10.8% increase to the national living wage to come in April. However, Revolution says it had seen its best festive trading season in four years. Like-for-like sales rise 9.0% in the period from December 4 to 31. Still, group like-for-like sales for the first half - including New Year's Eve - remain negative at minus 2.8%. It will update on its first-half trading later this month.
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By Elizabeth Winter, Alliance News deputy news editor
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Lendinvest (LINV)
Oriole (ORR)
Rev Bars (RBG)