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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Beowulf Mining PLC, up 24% at 49.00 pence, 12-month range 27.50p-125.00p. The Nordic-focused mineral resource developer says Sweden’s Supreme Administrative Court upholds the government award of an exploitation concession for the Kallak iron ore project. Chief Executive Officer Ed Bowie says: ‘We are delighted that the Court has concluded its process and we can continue to advance the project towards the conclusion of the pre-feasibility study and environmental impact assessment. [Kallak] has an important role to play in supporting the decarbonisation of the steel industry and therefore has significance from a global green energy transition perspective.’
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Trakm8 Holdings PLC, up 13% at 8.50 pence, 12-month range 7.00p-18.00p. The firm announces contract success with grocer Iceland Foods. Under a new contract, Trakm8 will develop a phase 2 additional feature set for the Iceland Scheduler home delivery solution. In addition, Iceland and Trakm8 have extended a current contract to March 31, 2028.
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AIM - LOSERS
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Pressure Technologies PLC, down 14% at 33.26p, 12-month range 24.00p-43.90p. The engineering firm reports a ‘mixed’ performance in the first half ended March 30. CEO Chris Walters says: ‘Precision Machined Components performed well in the period, with much-improved revenue and profitability, underpinned by operational improvements and capital investment. We expect this momentum to continue throughout the second half. Performance at Chesterfield Special Cylinders was impacted by the deferral of UK defence contract revenues into future years and by operational delays, including unplanned downtime for process-critical equipment in the first quarter.’ The CEO warns that while CSC will have a better second half, the first half shortfall will not be recovered. Walters adds: ‘[The] full-year performance will be further impacted by delayed order placement for new hydrogen storage contracts due to the UK general election, now expected later in FY24.’ Revenue in the first half grows 9.2% to £15.0 million from £13.8 million. Its pretax loss narrows to £1.2 million from £1.4 million.
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