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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Strategic Minerals PLC, up 26% at 0.28 pence, 12-month range 0.080p-0.34p. The exploration company notes February sales tonnage of 4,898 tons, which represents a six year high for February sales. February was also the highest monthly sales tonnage since March 2021, it notes. Looking ahead, Strategic Minerals says current expectations are for sales of circa 13,000 tons per quarter after March 2024. John Peters, managing director of Strategic Minerals, says: ‘Cobre’s revamped management line up has risen to the challenge and recently sought the addition of a Trackhoe 320 to ensure continuation of higher volume operations in difficult weather conditions. Not only was this sourced locally but the acquisition was wholly financed, with repayments spread in line with future cash flow expectations.’
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Nexus Infrastructure PLC, up 12% at 84.25p, 12-month range 70.00p-175.00p. Shares in the provider of civil engineering infrastructure services jump. Nexus Infrastructure says revenue in 2023 to £88.7 million from £98.4 million a year earlier. Pretax loss widens to £8.5 million from £909,000. Nexus Infrastructure pays out a dividend of 2.0p, bringing the full year dividend to 3.0p. Looking ahead the company says: ‘Market sentiment anticipates a recovery in the housebuilding market over the next 18 months. Tamdown’s services, capabilities and expertise form the principal element of activities at the start of new developments and will therefore feature early when conditions in the housebuilding sector improve. The board will continue to review a range of future growth options to deliver expansion and diversification opportunities, to take full advantage of the group’s capabilities and experience.’
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AIM - LOSERS
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Helium One Global Ltd, down 4.5% at 2.01p, 12-month range 0.18p-10.30p. The primary helium explorer posts revenue of $1.4 million, compared to no revenue a year earlier. Pretax loss narrows to £1.1 million from £1.9 million. Chair James Smith says: ‘This has been an incredibly busy and transformational period for the company, especially post the half year-end. The acquisition of our own rig in July 2023 enabled us to commence our second drilling campaign and provides us with significant optionality going forward, whether that be to drill additional wells efficiently and quickly or as a future revenue stream for the company.’
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