The following stocks are the leading risers and fallers on AIM in London on Tuesday.
----------
AIM - WINNERS
----------
Engage XR Holdings PLC, up 40% at 3.58 pence, 12-month range 1.9p-4.6p. The virtual reality software and technology company announces major contract wins for its virtual reality services. Signs ‘seven-figure’ contract with an unnamed ‘large Middle East-based firm’ operating in the education, training and development sector. Also extends relationship with ‘leading American bank’, adding to a ‘six-figure’ contract to continue work on the bank’s employee onboarding, following on from a contract signed last year. ‘The group’s sales pipeline continues to grow, and the group continues to see strong demand in the education, training and development verticals,’ the firm says.
----------
Anglesey Mining PLC, up 9.7% at 1.7p, 12-month range 1.0p-2.4p. The base metals miner with operations in North Wales, Sweden and Canada provides an upbeat update on its drilling program at the Parys Mountain project on the Isle of Anglesey in north-west Wales. Says drill hole NCZ002 is recently completing with a 107-metre apparent thickness zone of visible sulphides identified between 413 metres and 520 metres downhole. Results were dispatched to ALS laboratory on Friday, with results expected in the next few weeks. ‘I am delighted to report that ongoing drilling of the Northern Copper Zone is confirming that Parys Mountain has a significant zone of copper dominant mineralisation within an area 600 to 700 metres along strike and 300 to 400m downdip. Widths of mineralisation appear to be averaging over 20 metres in this zone with copper equivalent grades of between 1.0 – 1.3%,’ says Interim Chair Andrew King.
----------
AIM - LOSERS
----------
Horizonte Minerals PLC, down 58% at 3.58p, 12-month range 2.65p-172p. After the market close on Monday, the mineral developer provided an updated capital expenditure outlook for its 100%-owned Araguaia nickel project in Brazil, warning it still needs more funds. Following a review, it now estimates the capital required to complete construction, commission the project and deliver first metal is around $454 million. The estimate at completion now stands at $1.00 billion, which is some 87% higher than its previously disclosed capex budget of $537 million. Mechanical completion is expected in the first quarter of 2026. ‘It is important to note that while completing the Cost-to-Complete estimate is a significant milestone, resuming and completing construction activities at Araguaia are still subject to the successful completion of a full financing solution, which the company will seek to develop in the coming weeks, but with no guarantee of success,’ Interim CEO Karim Nasr warns.
----------
Copyright 2024 Alliance News Ltd. All Rights Reserved.
