The following stocks are the leading risers and fallers on AIM on Monday.
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AIM - WINNERS
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Guardian Metal Resources PLC, up 17% at 27.5 pence, 12-month range 7.625p-37p. The London-based, Nevada-focused mineral exploration & development company says its diamond drilling campaign at Pilot Mountain ‘is progressing very well’ with results for first 13 holes including 39.3 metres at 0.735% tungsten trioxide, 39.7 grams per tonne of silver, 0.44% copper and 0.30% zinc from 66 metres downhole - Pilot Mountain’s ‘best ever intercept’. Guardian Metal also notes report on Saturday from Nikkei Asia that China plans to tighten export controls on key ’dual-use’ technologies and items, including tungsten. Restrictions are expected to become effective on December 1. Chief Executive Officer Oliver Friesen comments: ‘While we await more details on the tungsten export restrictions...it is clearer than ever that the time is now for the US to build out its upstream tungsten supply chain capabilities, and we at Guardian Metal are looking to play a significant role in these important endeavours.’
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AIM - LOSERS
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Celadon Pharmaceuticals PLC, down 34% at 18.5p, 12-month range 18.5p-125p. The London-based pharmaceutical company, which is focused on the development, production and sale of cannabis-based medicines, says it has sufficient working capital to last through to January. Says it remains in discussions regarding potential alternative lending facilities. However, talks are now with one sole provider and Celadon says it does not believe talks have progressed materially since its half-year results published in late September. Also, Celadon says it is still owed about £400,000 from a historic subscription, and about £500,000 still due under a lender’s £1 million draw down. The subscriber ‘anticipates being able to make payment in due course’ but ‘there cannot be certainty on the timing’. Company says it continues to seek to engage to provide longer-term capital.
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Judges Scientific PLC, down 15% at 8,700p, 12-month range 8,340p-12,250p. The London-based investor in the scientific instrument sector reports a ‘disappointing trading performance’. It says its second half year will show progress compared to the first, but that its expectations for the full year were reliant upon the crystallisation and delivery of certain orders. Says it now believes these will not all be completed in time to deliver against expectations before the end of this year. Judges previously ‘expected the second half to show significant improvement, with a number of agreements signed too late to impact the first half but contributing to the second, in addition to the signature of a 2025 coring contract’. Says year to date organic order intake is up 4.2% on-year, but down 1.6% when excluding a coring contract from Geotek. Company now expects adjusted basic earnings per share of between 270p and 300p. Says it ‘is confident that the long-term growth drivers of our business remain solid’.
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