The following stocks are the leading risers and fallers on AIM in London on Thursday.
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AIM - WINNERS
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Corero Network Security Ltd, up 11% at 6.39 pence, 12-month range 5.5p-14.8p. The cybersecurity technology provider announces ‘significant’ order wins with new and existing customers for its SmartWall distributed denial of service protection solutions and services. A DDoS attack is a type of co-ordinated cyber attack which floods a server, service or network with internet traffic, in order to prevent users from accessing it. Corero says the orders total $2.0 million, with an average value of $380,000 per customer. ‘We are pleased to have delivered a number of key customer wins in Q1 2023 which reinforce our growing reputation as a leading provider of cutting-edge DDoS cybersecurity solutions. We have renewed our focus on Corero’s [ideal customer profile] with a more targeted sales and marketing approach to ultimately drive revenue growth,’ says Executive Chair Jens Montanana.
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Kodal Minerals, up 9.3% at 0.65p, 12-month range 0.2p-0.7p. The lithium and gold-focused exploration and development company says its funding package with Hainan Mining Co Ltd was approved by the Chinese government. Hainan received approval from the Chinese government to fund the exploration and development programme at the Bougoni lithium project in Mali, Kodal says. The funding package between Kodal and Hainan was announced in January, worth $117.8 million. ‘The receipt by Hainan of these approvals from the China government authorities to allow Hainan to complete its investment into the development of the Bougouni Lithium project is a major step towards completing the transaction,’ says CEO Bernard Aylward. Kodal aims to complete the transaction by the end of April.
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AIM - LOSERS
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Steppe Cement Ltd, down 21% at 34.71p, 12-month range 28.13p-51.8p. The Kazakhstan-focused construction materials says first quarter sales of cement fell 24% year-on-year to 214,832 tonnes, bringing in KZT4.94 billion, or $10.9 million, down 22% year-on-year. Says Kazakh cement market fell 13% annually during the quarter, and its market share ebbed to 12.7% from 13.7%. ‘The decrease in shipments was against a backdrop of increased interest rates and logistical issues arising from an overloading of the rail network and the priority given to the transportation of coal for heating and power,’ Steppe says. Cement exports from Kazakhstan also fell 20% from the year before, due to lower exports to Uzbekistan. The average price of delivered cement was KZT22,985 per tonne excluding value-added tax, rising 3% year-on-year.
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