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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Ascent Resources PLC, up 11% at 3.88 pence, 12-month range 2.81p-5.50p. The onshore Caribbean, Hispanic American and European-focused natural resources company says its subsidiary Ascent Slovenia will receive €1.7 million imminently amid the resolution of a dispute with joint venture partner Geoenergo. The figure relates to hydrocarbon revenues from the PG-10 and PG-11A wells for the period April 2020 through to June 2022.
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Altus Strategies PLC, up 6.6% at 47.95p,12-month range 40.00p-82.00p. It reports a new mineral resource estimate and preliminary economic assessment for the Diba & Lakanfla gold project in Mali. The project has a pretax net present value of $213.3 million, at an 8% discount. It has an indicated and inferred resource of 312,000 ounces and 362,000 ounces of gold, respectively.
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AIM - LOSERS
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Revolution Beauty Group PLC, down 57% at 26.25p, 12-month range 25.30p-173.00p. The beauty and personal care products maker and retailer warns it has been hurt by cost inflation, supply chain issues and the war in Ukraine. It expects only ‘low single digit revenue growth’ in the first half ending August 31 and a ‘small’ loss before interest, tax, depreciation and amortisation. Revenue a year earlier amounted to £78.6 million and it had reported an adjusted Ebitda of £5.1 million. In addition, it now expects to report results for the year ended February 28 on August 30 as more time is needed to complete an audit.
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GYG PLC, down 38% at 19.67p, 12-month range 18.39p-76.99p. The super-yacht painting, service and supply company proposes delisting from AIM, citing ‘valuation volatility’ and listing costs. Should the delisting be backed, it will consider using a matched bargain facility with a third party provider to allow shareholders to buy and sell shares after cancellation. ‘Shareholders should be aware that the implementation of a matched bargain facility is only under consideration at this stage and there can be no guarantee that the company will conclude that putting a matched bargain facility in place is beneficial for shareholders,’ GYG cautions.
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