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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Inspirit Energy Holdings PLC, up 59% at 0.017 pence, 12-month range 0.0070p-0.032p. The developer of micro combined heat and power boilers and waste heat recovery sees shares jump on order to develop and sell an inspirit waste heat recovery engine to Eqtec PLC. The contract is to supply one initial unit for £150,000, but also includes the option for a further 10 units at £150,000 each from 3 years from the date of the agreement. Chair John Gunn says: ‘We are delighted with this endorsement of our technology, and it goes to demonstrate that the Inspirit WHR appliance is suitable for marine, automotive, and light industrial engines, where it can be retrofitted.’
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SIMEC Atlantis Energy Ltd, up 9.8% at 0.99 pence, 12-month range 0.70p-1.80p. The energy company focused on tidal energy receives its next milestone payment of £2 million from the BESS project, under its agreement with EL Uskmouth Ltd, a subsidiary of FPC Electric Land. The payment was received following the completion of earthworks at the site. The remaining milestones are the completion of civil works, after which SAE will receive £1.5 million, and a final payment of £1.4 million on the delivery of 10% of the batteries.
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AIM - LOSERS
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Mosman Oil & Gas Ltd, down 3.3% at 0.021, 12-month range 0.010p-0.065p. The oil exploration, development, and production company, which operates in the US and Australia, gives an update on both the Stanley project in the US, and the Cinnabar project. Says that oil production at the Stanley-5 well has been restored by a successful workover, with initial flow rates similar to previous flow rates of around 30 to 45 barrels of oil per day. Meanwhile, the Cinnabar-1 well is now recompleted, with wellhead pressure rising to 1950 pascals. However, shares fall as lawsuit is filed against Nadsoil LLC, the Mosman subsidiary that operates the Stanley project, by one of the joint venture parties for breach of contract. Mosman considers the lawsuit ‘without merit’, and says it will ‘rigorously defend’ the suit.
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