The following stocks are the leading risers and fallers on AIM in London on Wednesday.
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AIM - WINNERS
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Landore Resources Ltd, up 40% at 4.00 pence, 12-month range 1.87p-11.50p. The Ontario, Canada-focused precious and base metal project explorer and developer sees shares rise. Landore raises £3.7 million through subscription of 153.5 million shares priced at 2.4 pence each. ‘We are delighted to have secured the support of LGM as cornerstone investor to this substantial subscription alongside a number of well renowned high net worth individuals, as well as introducing certain other new experienced investors to the company’s register,’ says Interim Chief Executive Glenn Featherby.
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Tungsten West PLC, up 46% at 6.20p, 12-month 1.05p-7.00p. The miner says the Environment Agency has granted the company a permit to operate its mineral processing facility, within the limits previously agreed between the company and the Environment Agency. This is the last of the key permits required to further progress the Hemerdon tungsten and tin mine project in Devon, UK. Chief Financial Officer & Interim CEO says: ‘The issuing of the permit to operate the mineral processing facility is another significant step in derisking the recommencement of production at Hemerdon. It allows the company to progress its financing discussions and fast track its updated feasibility study, with the aim of restarting operations in 2026.’
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RWS Holdings PLC, up 14% at 190.81p, 12-month 157.20p-284.40p. RWS reports that revenue in the six months ended March 31 fell to £350.3 million from £366.3 million a year earlier. Pretax profit plummeted 40% to £17.3 million from £28.7 million. RWS upped its interim dividend to 2.45p from 2.40p. Looking ahead, RWS said ‘encouraging’ trends and start to the second half support a full year performance in line with market expectations. ‘The group’s first half results reflect good progress in a number of areas and demonstrate that we are well positioned for clients’ increased appetite to harness AI to meet their language and content needs. Our successes with TrainAI and Evolve, which have continued into the early part of the second half, demonstrate that our AI-enabled solutions are resonating with clients at this pivotal moment for our industry,’ says CEO Ian El-Mokadem.
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AIM - LOSERS
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HSS Hire Group PLC, down 10% at 7.55p, 12-month range 7.05p-15.50p. The company, which provides tool and equipment hire and related services, says it has been notified by Amey PLC of its decision to move to another supplier for the provision of its equipment rental managed service contract. The supplier agreement will end early December. The agreement, which began in December 2015, accounted for approximately 7% of revenue and 10% of adjusted earnings before interest, tax, depreciation and amortisation in 2023.
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