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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Mirriad Advertising PLC, up 27% at 5.79 pence, 12-month range 3.25p - 27.00p. The in-content advertising firm says that, following its progress and improved position in the US market, it has decided to conduct a formal review of the options available to it to maximise shareholder value, including raising additional equity and a sales process. Says that the company is ‘significantly’ undervalued and that there is ‘meaningful upside’ to its current share price. Adds that the strategic review will include a range of options, including the merits of Mirriad remaining a standalone publicly listed company. It emphasises, however, that this is just one of multiple alternatives being evaluated. Mirriad also confirms that revenue in 2022 totalled £1.5 million.
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Rockfire Resources PLC, up 9.2% at 0.19 pence, 12-month range 0.13p - 0.58p. The Greece and Australia-focused gold, base metal and critical mineral exploration company enters into a new joint venture at the Plateau gold deposit in Queensland, Australia. The joint-venture with Sunshine Gold Ltd will be to advance and test regional targets as well as the discovery of higher-grade gold. The Plateau gold deposit has a quoted inferred JORC resource of 3.9 million tonnes at 1.1 grams per tonne of gold and 6.4 grams per tonne of silver. Rockfire has the option to retain 25% ownership of the Plateau project by participating in 25% expenditure in ongoing exploration. Rockfire intends to focus its financial, logistical and human resources at the Molaoi zinc deposit in Greece.
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AIM - LOSERS
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DSW Capital PLC, down 19% at 95.00 pence, 12-month range 88.00p - 140.00p. Says it will not achieve current market expectations for the full-year as its second-half has been impacted by wider macroeconomic conditions and uncertainties. Chief Executive James Dow says the firm is ‘extremely frustrated’ by this following a very strong first half of the year. It revises its guidance for the year ending March 31 to between £2.8 million to £3.1 million for revenue and between £1.4 million to £1.7 million for earnings before interest, taxation, depreciation and amortisation. In its last financial year, revenue stood at £3.0 million and Ebitda totalled £2.2 million. DSW Capital is the owner of financial advisory firm Dow Schofield Watts.
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Character Group PLC, down 8.5% at 375.00 pence, 12-month range 340.00p - 650.00p. Expects sales and pretax profit marginally below current market expectations, which it does not specify. This is follows revenue in the four months ended December 31 declining by 42% against the previous year amid a marked drop in US sales. Nonetheless, the toys and games developer remains optimistic about an anticipated rebound to come through strongly in the second half of its financial year, despite a ‘tough and challenging’ start to the year.
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