AIM stocks on the move: Abingdon Health, Purplebricks, Greatland Gold - ii16 Dec 2020 06:21
We talk you through the big movers and shakers on AIM, including a new Covid-19 testing firm....
....Greatland Gold (LSE:GGP) shares recovered from an initial 8% dip, having earlier announced CEO Gervaise Heddle is soon to leave the Australia-focused exploration company. The former Merrill Lynch fund manager joined Greatland in May 2016 and was instrumental in the acquisition of the Havieron project and its subsequent development with Newcrest.
Chairman Alex Borrelli said: “Under his leadership, the team at Greatland has delivered exceptional value creation for shareholders.” Shares were 2p at the end of 2019 but peaked last week at 33p for a market value of £1.3 billion after figures showed an initial inferred resource of 4.2 million ounces on a gold equivalent basis for Havieron. Analysts at Berenberg said this made it more likely that Newcrest will elect to move forward with the development.
Heddle, who is leaving in March to pursue other interests, said the time was right to hand over to someone who can take Greatland to the next level. His replacement is Shaun Day, who spent five years as chief financial officer of Australian gold producer Northern Star Resources.
Heddle added:
“Shaun brings the necessary large-scale mining pedigree and is highly respected in the industry with a track record of building major mining companies. He has my full support as the right person to take Greatland forward on the next leg of its exciting journey."
Shares were later just a quarter of a penny lower at 32.3p.
https://www.ii.co.uk/analysis-commentary/aim-stocks-move-abingdon-health-purplebricks-greatland-gold-ii514506
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