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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Sound Energy PLC, up 12% at 1.99 pence, 12-month range 0.8p-3.4p. The Morocco-focused upstream gas developer posts annual results for 2022, recording no revenue in either year. Pretax profit grows to £6.6 million from £2.5 million a year before, mostly thanks to a foreign exchange gain. ‘2022 was a year of real tangible progress for Sound Energy, with the micro-[liquefied natural gas] development at Tendrara contracted to deliver maiden revenues in early 2024,’ says Executive Chair Graham Lyon.
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AIM - LOSERS
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CAPX-XX Ltd, down 38% at 1.37p, 12-month range 1.3p-5.7p. After the London market close on Wednesday, the Sydney-based maker of supercapacitors and energy management systems announces CEO & Founder Anthony Kongats will step down from next Friday. The firm is in ‘advanced discussions’ with a proposed replacement from Western Europe. It also announces the raising of £2.4 million via a placing of 181.5 million shares at an issue price of 1.3p - a 41% discount to Wednesday’s closing price of 2.23p. Plans to use proceeds for new product development, and ‘driving revenue through sales and marketing’.
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Orosur Mining Inc, down 30% at 4.78p, 12-month range 4p-19p. The South America-focused minerals explorer and developer says its Colombian operator Minera Monte Aguila - a joint venture between Newmont Corp and Agnico Eagle Mines Ltd - tells the company it has cut exploration expenditures on the Anza project in Colombia. This effectively places the project into care and maintenance, Orosur says. ‘The company expects that MMA will continue to focus on protecting the asset and maintaining positive relationships with local community groups while it explores options regarding its involvement in the project,’ Orosur says. It will keep shareholders updated, and reaffirms its ‘great faith’ in the prospectivity of the Anza project.
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Mothercare PLC, down 26% at 6.5p, 12-month range 6p-11.75p. The retailer of products for parents and young children begins refinancing discussions with its lender over an existing debt facility. Following recent interest rate increases, the interest on the loan is around 18.2%. ‘Coupled with the extended time to return to pre-pandemic retail sales levels, particularly in our Middle Eastern markets...[it] means the board’s current forecasts for continuing operations show the group may require waivers to future periods’ covenant tests,’ the company warns. Mothercare is also looking at financing alternatives, including equity and equity linked structures, for further flexibility and to cut cash financing costs. ‘For the avoidance of doubt the group does not require (and is not seeking through this refinancing) additional liquidity,’ it stresses.
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