The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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EnSilica PLC, up 22% at 62 pence, 12-month range 29p-103p. The semiconductor designer and supplier says revenue climbs 12% to £9.6 million in the six months ended November 30 from £8.6 million a year before. Pretax loss widens to £309,000 from £202,000. It cites a ‘solid start’ to the second half of its financial year, seeing committed supply revenue of around $73 million and a pipeline of opportunities currently valued at around £512 million, which underpins the firm’s expectations for financial 2024. ‘We are delighted with the continued operational progress delivered across the period, particularly the quantity and quality of contract wins secured with companies across a range of sectors. This is testament to our expert team which is highly focused on driving the growth of the business and helping EnSilica deliver on its strategic ambitions,’ says CEO Ian Lankshear.
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Hornby PLC, up 27% at 35p, 12-month range 14p-41.2p. The model railway company adds to Friday’s 33% rise. This was after Sports Direct-owner Frasers Group PLC raised its stake in Hornby, buying a further 11.1 million of its shares. As at Friday, Frasers now holds 15.2 million Hornby shares, or 8.9% of the company.
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AIM - LOSERS
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Uru Metals Ltd, down 27% at 55p, 12-month range 50p-230p. The mineral exploration and development company which counts Zebedelia nickel project in South Africa as flagship asset says its non-executive chair, Jay Viera, has resigned with immediate effect. No explanation is provided for Viera’s sudden departure. Non-Executive Director Kyle Appleby agrees to take over the role. Uru will hold its annual general meeting on March 22.
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Base Resources Ltd, down 21% at 5.7p, 12-month range 5.15p-15p. The African mineral sands producer and developer reports its results for the six months ended December 31, deciding to forgo an interim dividend to retain cash flow. Revenue drops sharply to $73.1 million from $126.6 million a year before, as pretax profit plummets to $9.5 million from $64.8 million. Notes average achieved product prices fell 4% for rutile, 9% for ilmenite and 18% for zircon compared to the prior year. ‘Kwale operations once again performed consistently to plan, but with only lower-grade ore bodies remaining, production and sales volumes were lower as expected. Despite this, and softening market conditions for our products, Kwale operations continued to operate profitably and generate positive free-cash flow, with preparations for post-mining after December 2024 occurring in parallel,’ says Managing Director Tim Carstens. The Kwale mineral sands mine in Kenya is Base’s only revenue-producing asset at present. Skips interim dividend to retain cash for the progression of Toliara project in Madagascar.
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