The following stocks are the leading risers and fallers on AIM in London on Tuesday.
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AIM - WINNERS
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Alba Mineral Resources, up 15% at 0.185 pence, 12-month range 0.12p-0.3p. Agrees to take full ownership of the Clogau gold project in Wales. Alba also agrees to buy back a 3% net smelter return royalty owned by the vendor, reducing its royalty to 1%. Alba will pay £400,000 via the issue of 200 million of its shares at 0.2p each, being a 25% premium to Tuesday’s closing price. ‘It is a measure of our confidence in the long-term prospects for the Clogau gold project that we have taken the opportunity to move to 100% ownership of the project,’ says Executive Chair George Frangeskides.
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Power Metal Resources PLC, up 9.5% at 1.643p, 12-month range 0.77p-2.31p. Says preparations for first Power Metal managed and operated diamond drill programme at Molopo Farms are ‘advancing at pace’ and the start date for drilling to be announced soon. The drilling will target the core of the new conductor, immediately south of K1-6, with multiple drillholes planned of varying positions. Chief Executive Paul Johnson says firm is looking to startt drilling ‘as soon as possible’.
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AIM - LOSERS
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Artemis Resources Ltd, down 11% at 2.09p, 12-month range 1.44p-5.00p. Stock closed up 2.5% on Monday, recovering from an intraday low of 1.9p, after saying no significant nickel or copper results were found in laboratory analyses of samples from the first drill hole at the Osborne nickel prospect.
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FD Technologies PLC, down 1.5% at 1,645.42p, 12-month range 1,276.14p-2,620p. Berenberg upgrades its recommendation on the stock to ’hold’ from ’sell’, flagging ‘good potential’ but also execution risk. ‘While we upgrade our numbers in line with consensus and also our price target, we also note the execution risk involved, especially going into a slowing economy,’ says Berenberg.
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