(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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Velocys PLC, up 18% at 5.21 pence, 12-month range 4.00p - 8.23p. Wins two separate grants from the UK government. The first grant is for up to GBP27 million from the UK Department for Transport's Advanced Fuels Fund for the company's Altalto Immingham Sustainable Aviation Fuel project. The project, jointly developed by Velocys and British Airways, aims to deliver a commercial waste-to-sustainable aviation fuel plant in Immingham, England. The grant will allow the project to deliver front-end engineering design, Velocys explains. The grant will be distributed from December to March 2025. The second grant is for GBP2.5 million from the same fund to contribute to Velocys's e-fuels project in the UK. It will allow Velocys and its partners to conduct feasibility, technical validation, site selection and pre-FEED engineering for projects to make sustainable aviation fuel from carbon dioxide and hydrogen.
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Block Energy PLC, up 9.2% at 1.42 pence, 12-month range 0.80p - 2.39p. Enters a farm-out agreement with Georgia Oil & Gas Ltd for part of its XI licence. Signs for a 50% farmout of non-core areas of the XI licence. Agreement has an estimated value of USD3.0 million, the Georgia-focused exploration and production company says. Adds that the portions being farmed out are exploration areas that would have been subject to relinquishment in 2024. The Block XI licence covers 614 square kilometres and includes fields which have produced more than 180 million barrels of oil.
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AIM - LOSERS
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Capital Metals PLC, down 42% at 2.76 pence, 12-month range 2.06p - 9.88p. Receives notice from the Sri Lankan Geological Survey & Mines Bureau that they consider it necessary for its current shareholding in its Sri Lankan subsidiary, Damsila Exports Pvt Ltd, to be approval by the Board of Investment of Sri Lanka. As Damsila has not obtained such approval, the two industrial mining licences issued to Damsila are temporarily suspended pending investigations regarding the ownership structure of Damsila.
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Engage XR Holdings PLC, down 32% at 8.81 pence, 12-month range 7.65p - 20.00p. Notes a "slower than expected" conversion of its pipeline at the end of the second half of 2022, having previously expected a positive end to the second half. Explains the half has been impacted by customers delaying making contract decisions due to "challenging" global economic conditions. As a result, the technology firm expects it will be behind current market expectations for 2022 for both revenue and earnings before interest, tax, depreciation and amortisation loss. It expects to report annual revenue between EUR3.5 million and EUR4.0 million, and an annual Ebitda loss between EUR5.6 million and EUR5.9 million.
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By Heather Rydings, Alliance News senior economics reporter
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Block Energy P. (BLOE)
Capital Metals (CMET)
Engage Xr (EXR)