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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Empire Metals Ltd, up 45% at 2.69 pence, 12-month range 0.75p-2.85p. says its results from its maiden reverse circulation drill programme at the Pitfield project, located in Western Australia, have confirmed the presence of a giant-scale hydrothermal mineral system enriched in titanium and copper. It explains that these fluids are thought to be responsible for the significant enrichment of both copper and titanium in these sedimentary host rocks. Managing Director Shaun Bunn said: ‘We are absolutely thrilled with the results of our maiden drilling campaign. Our research over the past year pointed to the presence of a newly recognized giant copper mineral system at Pitfield, in itself no minor feat, however the results announced today add a whole new dimension to this globally important asset - the discovery of titanium rich minerals in my view tells us we have a ’Land of Giants‘ to explore.’ Empire holds a 70% interest in Pitfield which is comprised of four granted exploration licences, covering 1,042 kilometres squared.
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Malvern International PLC, up 15% at 19.50p, 12-month range 0.07p-20.00p. The learning and skills development company says student intake for pathways in September 2023 is expected to be well ahead of the September 2022 intake. The company explains that this is the result of the company’s strategic investment over the last two years in sales & marketing, management team and processes within its University Partnerships structure. Looking ahead, Malvern says it is confident in its prospects and expects to achieve growth in all divisions in 2023.
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AIM - LOSERS
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Oxford BioDynamics PLC, down 17% at 13.90p, 12-month range 10.98p-22.74p. The biotechnology firm focused on discovering and developing epigenetic biomarkers says its pretax loss for the half-year that ended March 31 had widened to £4.8 million from £3.3 million the previous year. Revenue increases to £220,000 from £85,000 the prior year, but was significantly exceeded by the company’s operating costs. Staff costs rise to £2.6 million from £2.1 million the year before, and research & development costs similarly increased to £284,000 from £191,000. The company did not declare a dividend. Chief Executive Officer Jon Burrows said: ‘We are focused on two main objectives through the remainder of our financial year and through the end of calendar 2023. On CiRT, we continue to concentrate our efforts on sustaining growth in orders and reimbursements for the test and establishing a sustainable revenue engine from the product.
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