The following stocks are the leading risers and fallers on AIM in London on Wednesday.
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AIM - WINNERS
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Block Energy PLC, up 16% at 1.48 pence, 12-month range 0.80p - 2.39p. Says that drilling contractor Schlumberger has decided against exercising its rights to buy 108 million shares in Block. The options were granted in 2020 as part of Block’s purchase of Schlumberger Rustaveli Co Ltd, which held a license in Georgia. ‘This is very good news for the company and shareholders in Block. The result for Block and its shareholders is a significant gain in value and reduction in dilution, both contributing to our continued commitment to maximising value, for all shareholders, whilst we advance through our three-project strategy,’ explains Chief Executive Officer Paul Haywood.
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Europa Metals Ltd, up 3.7% at 3.53 pence, 12-month range 2.50p - 5.30p. Reports a 19% increase to its indicated mineral resource and a 14% increase in grade at it 100%-owned Toral lead, zinc and silver project in Spain. Notes an indicated mineral resource of 7 tonnes at 8.1% zinc equivalent, 5% zinc, 3.7% lead, and 29 grams per tonne of silver. The total mineral resource for the project is approximately 20 tonnes at 6.8% zinc equivalent, 4.4% zinc, 2.8% lead, and 23 grams per tonne of silver. Explains that these results compare ‘very favourably’ with the firm’s previously reported mineral resource estimate announced on October 1, 2021. Adds that a total of 61,545 metres of drilling is now included in the database for the Toral project.
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AIM - LOSERS
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Borders & Southern Petroleum PLC, down 39% at 1.93 pence, 12-month range 0.52p - 8.50p. Raises £2.5 million, before expenses, to advance its wholly-owned Darwin Gas Condensate discovery. The oil and gas exploration firm says that the fundraising comprises of a firm placing, a conditional placing and a conditional subscription at a price of 1.75 pence per share. The issue price is a 44% discount to the company’s closing price of 3.15 pence on Tuesday. Proceeds will be used to fund the firm’s licence fees, discovery area fees, technical and commercial studies, general and administrative expenses, and to advance the Darwin project towards appraisal.
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Strix Group PLC, down 34% at 82.47 pence, 12-month range 78.06p - 315.00p. As a result of lockdowns in China and the continued uncertainty regarding the situation, the kettle safety controls provider says it now anticipates adjusted pretax for the full year to be approximately £23 million, up from £21.5 million in 2021. It adds that the issues could continue into 2023. Also, completes the acquisition of Billi Australia Pty Ltd, Billi New Zealand Ltd and Billi UK Ltd, and says its trading in recent weeks have been impacted by ongoing lockdowns in China. Billi is an Australia-based supplier of premium filtered and non-filtered instant boiling, chilled and sparkling water systems.
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