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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Harland & Wolff Group Holdings PLC, up 8.5% at 14.68 pence, 12-month range 5.55p-29.00p. The infrastructure projects operator says it has been issued a notice to proceed with the mid-life upgrade and dry docking of a large vessel. Harland & Wolff says it was chosen by the client for ‘its ability to execute on a complex mid-life upgrade utilising the company’s market-leading drydock in Belfast, the largest in the UK’. The vessel is expected to be in the dry dock for a period of five months through early 2024 and the contract value is expected to be between £60 million to £70 million. As part of the project delivery, £5 million will be made available to the company immediately.
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Victoria PLC, up 8.2% at 710.00p, 12-month range 300.00p-726.06p. The flooring manufacturer confirms that trading in the first quarter of financial 2024, which runs to April 1, 2024, will be in line with its expectations and consistent with consensus expectations for financial 2024. It says demand remains generally stable across the company’s markets and margins are improving in line with a fall in input costs. The company said it plans to release its full-year results for financial 2023 on August 15. It expects revenue and underlying earnings before interest, tax, depreciation and amortisation to be in line with market expectations.
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AIM - LOSERS
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Wishbone Gold PLC, down 18% at 2.43p, 12-month range 1.41p-18.50p. The Australia-focused mining company says it has raised £1.4 million through a fundraise of 59.1 million shares priced at 2.4p each. This represents an oversubscription of 42% against the initial target subscription of £1 million. The company says the net proceeds will provide additional working capital for the company but will primarily be used to fund the exploration programs on Red Setter and Cottesloe. Chair Richard Poulden says: ‘We are immensely grateful for the support of existing shareholders and new investors in the current challenging financial markets. We are looking forward to the next round of exploration based on the new analysis of Red Setter and Cottesloe.’
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