The following stocks are the leading risers and fallers on AIM on Tuesday.
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AIM - WINNERS
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Invinity Energy Systems PLC, up 25% at 14.67 pence, 12-month range 8.50p-36.44p. The manufacturer of utility-grade energy storage systems announces the launch of its Endurium ‘next-generation vanadium flow battery’ for general sale. ‘Endurium is available in configurations optimised for discharge durations spanning 4 to 18 hours and offers a number of key product improvements including a lower cost of storage, greater energy density, simplified maintenance and improved round-trip efficiency, while retaining the existing safety, durability and longevity benefits already proven by Invinity’s previous product generations,’ Invinity says.
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Cadence Minerals PLC, up 22% at 2.80 pence, 12-month range 2.20p-7.00p. The resource sector-focused investor reports an updated pre-feasibility study on the Amapa iron ore project in Brazil. Cadence has just under a 35% stake in the asset. The new study suggests a 73% increase in the post-tax net present value, at a 10% discount rate, of $1.97 billion. Average annual free cash flow from start-up to closure is estimated to be $342 million. ‘The increased net present value of $1.97 billion and improved post-tax internal rate of return reflect significant advancements in the project’s robust economics,’ Chief Executive Officer Kiran Morzaria says.
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AIM - LOSERS
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SysGroup PLC, down 19% at 23.00p, 12-month range 18.78p-38.00p. The IT services, cybersecurity and cloud hosting provider warns on annual earnings. Its pretax loss in the half-year to September 30 is largely unmoved at £1.1 million. Revenue falls 7.4% to £10.2 million from £11.0 million. SysGroup expects revenue for the full-year will be shy of current market expectations, amid ‘longer-than-expected sales cycles’.
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