The following stocks are the leading risers and fallers on AIM on Friday.
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AIM - WINNERS
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Kazera Global PLC, up 33% at 0.53 pence, 12-month range 0.31p-1.50p. The mining-focused investment company enters into debt facility agreement with its two largest shareholders. Richard Jennings and Tracarta Ltd agree to provide unsecured term loans of £150,000 and £350,000 each. Kazera will use the fund toward the cash part of the consideration for the Tectonic Gold PLC deal announced on Wednesday. The deal will see Kazera acquire 10% of Tectonic Gold PLC’s shareholdings in both Deep Blue Minerals (Pty) Ltd and Whale Head Minerals (Pty) Ltd. Deal also includes Tectonic’s economic interest in loans it has with WHM’s Black Economic Empowerment partners. CEO Dennis Edmonds says the loans are expected to provide ‘sufficient cash cover to take the company into being cash generative’.
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Oncimmune Holdings PLC, up 5.4% at 11.33p, 12-month range 9.35p-31p. The autoantibody profiling company announces a new contract win with an unnamed ‘top 10 global pharma company’. The contract will be worth at least $1.5 million, and follows a successful pilot. ‘This is one of the largest contracts Oncimmune has entered into in its ImmunoINSIGHTS business and demonstrates its ability to win significant repeat business from its key customers,’ it says. Says revenue will likely fall in the next financial year, and it now expects to achieve profitability next year.
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AIM - LOSERS
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Hummingbird Resources PLC, down 20% at 6.83p, 12-month range 4.06p-14.10p. The gold miner with operations in Mali, Guinea and Liberia says performance at its Yanfolila mine in Mali was hurt by short-term mining challenges, resulting from poor availability and utilisation of the mining fleet. This meant that the mining sequencing needed to be adjusted, which increased waste stripping, particularly as mining at the Gonka pit began. As a result, the firm records a loss before interest, tax, depreciation and amortisation of $13.5 million in the second quarter. For financial 2024, now expects 65,000 to 75,000 ounces from Yanfolila, which would be down from 83,965 ounces in financial 2023. Also notes delays in ramping up operations at Kouroussa in Guinea. ‘It’s crucial to understand that these issues are now behind us,’ says CEO Dan Betts.
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