The following stocks are the leading risers and fallers on AIM on Friday.
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AIM - WINNERS
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Botswana Diamonds PLC, up 16% at 0.22 pence, 12-month range 0.16p-0.55p. The firm celebrates an environmental authorisation for the Thorny River diamond project in South Africa. The authorisation from the Department of Mineral Resources & Energy was for one of two mining permit applications. Botswana Diamonds applied for two mining permits in late 2022 after an exploration programme that included bulk sampling and a mine planning exercise carried out by an independent consultant.
‘Following further community consultation, a mining permit should be granted within the next six weeks,’ Botswana Diamonds says. Chair John Teeling adds: ‘We are delighted to see that this authorisation has come through and we anticipate that the mining permit will soon be granted. The Thorny River project is well placed to restart and expand mining operations when prices recover.’
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AIM - LOSERS
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Genedrive PLC, down 5.6% at 2.12p, 12-month range 1.21p-9.84p. Its loss widened during its most recent financial year, as its expenses ramped up. The point of care pharmacogenetic testing company said the pretax loss for its financial year that ended June 30 widened to £7.8 million from £6.0 million the year before. This was due primarily to finance costs multiplying to £2.5 million from £787,000 last year. Research & development costs were up 7.4% to £4.2 million from £3.9 million, and administrative expenses rose 13% to £1.6 million from £1.4 million, due to increased employment costs. Revenue climbs to £501,000 from £55,000 last year.
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Peel Hunt Ltd, down 3.0% at 105.30p, 12-month range 88.00p-152.00p. The company’s earnings grow in its half-year, despite UK budget and US election uncertainty keeping a lid on progress. The London-based company provides investment banking, advisory and capital markets services, as well as research & distribution and a trading platform. It swings to a half-year pretax profit of £1.2 million in the six months to September 30 from a loss of £773,000 a year prior. In the six months that ended, September 30, revenue grows by 26% to £53.8 million from £42.7 million a year before, bolstered by a strong performance in its investment banking division. Peel Hunt explains that weaker trading volumes experienced towards the end of the first-half, owed to concerns surrounding the US election and UK autumn budget. UK worries centred on concerns that inheritance tax relief on AIM listed companies would be withdrawn by the new Labour government. In the event, UK Chancellor of the Exchequer Rachel Reeves said a 50% relief still would apply in all circumstances on inheritance tax for shares on AIM, and other similar markets, setting the effective rate of tax at 20%.
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