The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
----------
SMALL-CAP - WINNERS
----------
Chesterfield Resources PLC, up 14% at 0.74 pence, 12-month range 0.60-2.79p. The Cyprus and Canada-focused copper exploration company notes the pending sale of its shares by Polymetal International PLC to Juniper International FZ LLC, a private investment holding and advisory company with a focus on mining and renewable energy. Interim Chief Executive & Chief Financial Officer Ajay Kejriwal comments: ‘We are grateful for the support that Chesterfield has received from Polymetal since it became a shareholder in 2020.’
----------
Gulf Keystone Petroleum Ltd, up 12% at 111.64 pence, 12-month range 81.29-234.00p. The operator of Shaikan Field in Iraq reports a consistent increase in local sales from the Shaikan field. Gross average sales currently stand at 33,000 barrels of oil per day. This is up from 28,800 bopd between September 1 and 24, 17,200 bopd in August and 4,900 bopd in July. Realised prices continue to average around $30 per barrel, in line with local pricing. ‘Following recent agreements with buyers, GKP has ceased trucking operations and is injecting all crude sales into the pipeline for transportation to a local refinery in Kurdistan. The company is receiving advance payments into its UK bank account for its net entitlement of 36% of gross sales revenue,’ Gulf Keystone says.
----------
Anglesey Mining PLC, up 4.5% at 1.39 pence, 12-month range 1.25-3.00p. The Wales, Sweden and Canada-focused mining company says despite the global macroeconomic uncertainty, it has made ‘encouraging’ progress at its Parys Mountain copper-zinc-lead-silver-gold project in Wales and its iron ore project in Sweden. Notes that while base metal prices have softened over the last year, commodities are showing ‘resilience’ overall and demand for climate transition metals remains ‘strong.’ ‘As a board, we retain our confident view that the outlook for minerals, particularly for the copper and zinc minerals at Parys Mountain, and for iron ore where we hold significant investments, is very encouraging,’ Anglesey says. Further, reports a pretax loss of £961,288 for financial year 2023 that ended on March 31, widened from £693,242 a year prior.
----------
SMALL-CAP - LOSERS
----------
Alphawave IP Group PLC, down 7.1% at 136.60 pence, 12-month range 88.40-166.20p. The London-based company designing high-speed connectivity solutions swings to a loss, despite its revenue tripling in the first half of 2023. Revenue more than triples to $187.2 million, from $57.1 million the year prior, thanks, in part, to its acquisition of OpenFive. However, firm swings to a pretax loss of $11.2 million, from a profit of $22.2 million a year ago. The loss comes as Alphawave’s cost of sales surge to $104.7 million from just $1.8 million and its research & development costs climb to $35.5 million from $25.2 million. Looking forward, Alphawave reiterates its full-year outlook which sees revenue between $340 million and $360 million and adjusted earnings before interest, tax, depreciation and amortisation of around $87 million. In 2022, revenue totalled $185.4 million and adjusted Ebitda totalled $46.8 million.
----------
Copyright 2023 Alliance News Ltd. All Rights Reserved.
