The following stocks are the leading risers and fallers on AIM on Thursday.
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AIM - WINNERS
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Strategic Minerals PLC, up 47% at 0.2 pence, 12-month range 0.09p-0.3p. Pretax profit climbs annually to $950,000 from $54,000 for first half of 2024. Revenue rises to $2.1 million from $782,000, ‘the highest six month revenue since 2017’, and helped by the return of a ‘major client’ of Southern Minerals Group. Company now expects 2024 sales to exceed $4.5 million. Managing Director John Peters says the firm ‘continues to pursue investment in the Leigh Creek copper mine by way of either joint venture or outright sale’, and ‘continues to seek funding for the Redmoor tungsten & tin mine through government-based grants or joint venture’.
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Clean Power Hydrogen PLC, up 39% at 11.75 pence, 12-month range 8p-19.4p. Announces successful completion of the factory acceptance test for its MFE110 electrolyser, ‘marking a major milestone’. Follows formal demonstration at which the MFE110 produced separated hydrogen and oxygen. Says all metrics achieved necessary thresholds, confirming that it can function effectively. Says testing confirms the first customer acceptance and validation of its scaled electrolyser technology, and validates its membrane-free technology as a viable and competitive alternative to PEM and Alkaline electrolysers. Company will now oversee deployment of the unit to Northern Ireland Water’s site for installation, which should lead to commercial hydrogen and oxygen production.
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AIM - LOSERS
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Phoenix Copper Ltd, down 39% at 9.75p, 12-month range 9.75p-36.3p. Pretax loss is $1.1 million for first half of 2024, widened from $625,369 in 2023. Admin costs surged to $1.1 million from $617,788. Firm generates no revenue, unchanged annually. Says investment in Empire mine in Idaho increased to $42.1 million from $35.9 million. Loans to Idaho operating subsidiaries increased to $37.5 million from $29.6 million. Company notes ‘the achievement of several important milestones on [Empire’s] journey towards our first production’, including report of proven & probable mineral reserves of 10.1 million tonnes containing 109,487,970 pounds of copper, 104,000 ounces of gold and 4.7 million ounces of silver - or 66,467 tonnes of copper equivalent metal. Pre-feasibility study estimates life of mine production at 40,424 tonnes copper, 40,161 ounces of gold and 1.8 million ounces of silver.
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