The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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BSF Enterprise PLC, up 86% at 10.24 pence, 12-month range 5.00p - 11.50p. Biotechnology investment firm reaches another milestone in producing lab-grown fillets of meat. Successfully produces three prototype fillets of cultivated meat. ‘This is a major step forward toward 3D Bio-Tissues’ objective of producing the UK’s first full-scale cultivated meat fillet, which it expects to showcase in the coming months,’ company says. Expects to produce a larger scale prototype in six to eight weeks and is on track to produce its showcase full-scale fillet of 100% meat in early in 2023.
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Technology Minerals PLC, up 5.4% at 1.45 pence, 12-month range 1.30p - 5.50p. Says field exploration work at its Leinster project in Ireland is advancing on schedule. Explains the area is also undergoing intensive prospecting which is consolidating the extent of the spodumene pegmatite boulder train as well as significantly enhancing the resolution of the dispersion zone. A total of 46 rock samples and 233 deep overburden samples along with 13 quality assurance quality control samples have been collected to-date and submitted for analysis.
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SMALL-CAP - LOSERS
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Mila Resources PLC, down 44% at 1.70 pence, 12-month range 1.56p - 6.80p. Completes drilling at its Kathleen Valley gold project in Western Australia and receives assays from the first three of the four holes drilled. Holes did not return economic widths and grade but company says they have provided ‘strong evidence of pathfinder elements’ to define the root zone of the system. Says it will now undertake structural, geophysical and geochemical analysis ahead of further drilling in the first quarter of 2023. ‘These new results, whilst clearly less impressive, are by no means a setback for the Coffey deposit,’ says Neil Hutchison, technical director at the Australia-focused gold company.
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Speedy Hire PLC, down 7.1% at 40.20 pence, 12-month range 35.50p - 71.90p. In the six months ended September 30, the tools and equipment hire services company reports a pretax profit of £13.2 million, down 7.7% from £14.3 million the previous year. Revenue, meanwhile, jumps to £214.8 million from £188.6 million. Costs of sales widen to £97.9 million from £80.6 million. Company expects to deliver results in-line with expectations for the full-year despite cost inflation and macroeconomic uncertainty.
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