The following stocks are the leading risers and fallers on AIM in London on Thursday.
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AIM - WINNERS
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Arc Minerals Ltd, up 18% at 5.29 pence, 12-month range 0.022p-6.10p. Stock hits this 12-month high on Thursday after landing a joint-venture deal with Anglo American PLC. The deal concerns Arc’s copper-cobalt project located in the North-Western province of Zambia. Miner Anglo will have the right to retain a 70% interest in the JV with a total investment of up to $88.5 million, including $14.5 million in cash. Arc Executive Chair Nick von Schirnding labels the JV a ‘major turning point’. He adds: ‘I am delighted to be signing this agreement with Anglo American which will, upon execution and completion of the definitive agreements, result in the potential for significant investment by a reputable major mining company in the tenements in north west Zambia and a very exciting time ahead for us.’
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Proteome Sciences PLC, up 8.5% at 4.45 pence, 12-month range 3.31p-8.95p. Secures contract from unnamed ‘major’ US academic group. Contract will see company evaluate proteome and phospho-proteome on tissue and blood samples. Notes contract value exceeds £500,000.
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AIM - LOSERS
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Titon Holdings PLC, down 22% at 70.50 pence, 12-month range 140.00p-70.50p. Sinks to 12-month low as interim revenue falls, as a result of weaker trading conditions in Korea and reduced European sales, offset by ‘pleasing’ growth in UK revenues, leads to first-half loss. In six months to March 31, net revenue down 1.7% to £11.5 million from £11.7 million. Sinks to pretax loss of £250,000 from £550,000 profit year before. Interim dividend unchanged at 1.5p. Adds: ‘Whilst we are optimistic that the supply chain challenges will start to ease in the second half of the financial year, H2 2022 trading to date has remained subdued due to the shortages of components and we expect these conditions to continue in the immediate term.’
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