The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Power Metal Resources PLC, up 12% at 0.78 pence, 12-month range 0.65p-1.85p. The metals exploration company focused on North America, Africa, and Australia says it has discovered a significant helium anomaly at its fully owned Perch River uranium project in the Athabasca Basin, Saskatchewan, Canada. According to Power Metal, the very strong helium response could be indicative of significant buried uranium mineralisation or leakage of helium from a buried helium reservoir at depth. ‘It is very exciting to be able to deliver this news to shareholders. As we have previously reported, this season’s wider uranium fieldwork remains ongoing and further updates will be provided in due course. However, the indications we have had from Perch River could be hugely significant and warranted immediate release,’ says Chief Executive Officer Sean Wade.
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AIM - LOSERS
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AMTE Power PLC, down 77% at 2.16p, 12-month range 1.79p-80.00p. The lithium-ion and sodium-ion battery cells developer and manufacturer says it is planning to raise over £2.1 million for working capital purposes. It plans to place 124.5 million shares at 1.7 pence per share, sharply lower than its Thursday closing price of 9.20p. The offer provides the firm with working capital until early November. This will give AMTE Power and the potential equity investor announced back in July time to complete a proposed initial equity investment of £2.5 million. Further, the company plans to raise a further £250,000 via a retail offer of up to 14.7 million shares at the issue price via the bookbuild platform.
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Harland & Wolff Group Holdings PLC, down 10% to 13.68p, 12-month range 5.55p-29.00p. The fabrication company, which serves the maritime and offshore industries from yards in England, Northern Ireland and Scotland, reports a £31.5 million pretax loss for the first half of 2023 compared with a £17.6 million loss the prior year. Revenue increases 65% to £25.5 million from £15.4 million. Cost of sales increase 71% to £20.6 million, while management and administrative expenses increase 29% to £21.1 million and finance costs more than tripled to £13.8 million. ‘The group’s workforce has scaled rapidly and now totals some 780 employees and the group is proud to be putting British shipbuilding back on the map,’ comments Chief Executive Officer John Wood.
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