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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Active Energy Group PLC, up 21% at 4.73 pence, 12-month range 0.0950p - 7.50p. The biomass-based renewable energy firm says 2022 has been an ‘extremely productive year’ for the company. Says the Player Design Inc has started building its future CoalSwitch production facility in the US state of Maine. It is targeting initial production volumes at the facility of 35,000 tonnes per year, with the aim of increasing this during 2023 towards an annualised production rate of 100,000 tonnes per year. Notes that commercial discussion for CoalSwitch continue in a number of countries. Says prospective customers range from power generators to cement products in the US.
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Serabi Gold PLC, up 8.3% at 36.30 pence, 12-month range 21.36p - 62.50p. The Brazil-focused gold miner reports fourth quarter gold production of 7,798 ounces, taking its total annual production to 31,819 ounces. This exceeds its production guidance for 2022 of 30,000 ounces. Chief Executive Mike Hodgson says: ‘The fourth quarter has been somewhat transitional as we have been moving some mining crews and fleet from the Sao Chico orebody over to Coringa. To date, the Coringa deposit has been in a development phase and as we begin 2023 will we see the first production from stoping, and this will result in an increase in the level of Coringa ore being delivered to the Palito plant. It was therefore particularly pleasing to maintain steady mine output from Palito Operations, even with reduced levels of manpower and equipment.’
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AIM - LOSERS
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Revolution Bars Group PLC, down 32% at 5.00 pence, 12-month range 5.00p - 24.50p. In the first half of 2022, reports like-for-like sales 9.4% below the same period pre-pandemic. As a result, the board reassess its expectations for financial 2023, which ends in June, assuming that industrial action subsides and energy prices hold at their current levels. It now expects earnings before interest, tax, depreciation and amortisation for the year lower than previously anticipated. It expects the figure at the bottom end of market expectations which it puts between £6.7 million to £10.5 million. More positively, in the Christmas trading period, sees like-for-like sales rise by double-digits against the previous year thanks to strong corporate party bookings. Like-for-like sales grew by 17% in the five weeks to December 31. The Christmas trading period was hurt by industrial action across the UK, Revolution Bars adds.
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