The following stocks are the leading risers and fallers on AIM on Friday.
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AIM - WINNERS
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European Metals Holdings Ltd, up 8.7% at 6.25 pence, 12-month range 5.5p-24.4p. The Czech Republic-focused mineral explorer and developer announces that the Cinovec project has been declared a ‘strategic deposit’ by the Czech government. This ‘is a major step forward for the project, enabling Geomet to obtain certain permits and take actions to secure the development of the project without undue delay’, the company says. European Metals has a 49% stake in Geomet, which fully owns the Cinovec project. It explains that the designation will help expedite regulatory approvals, reducing the time required for project preparation and mining initiation, and will reduce the administrative burden by streamlining coordination between various Czech authorities. ‘The designation of the Cinovec project as a strategic deposit is a significant milestone which has been achieved through the diligent work of Geomet and CEZ,’ Executive Chair Keith Coughlan says. ‘This designation will enable the project timeline to be expedited and provides a clear signal of the importance of the development of Cinovec by the Czech government for both the European car industry as well as the EU green transition.’
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Avacta Group PLC, up 7.6% at 39p, 12-month range 33.75p-82.5p. The oncology-focused life sciences business announces that Avacta Therapeutics’ lead programme AVA6000, ‘the first clinical stage asset which is a pre|CISION-enabled form of doxorubicin’, has completed phase 1a dose escalation ‘with encouraging [progression-free survival] data in patients with salivary gland cancers’. Also, Avacta has started enrolment in the phase 1b expansion cohorts ‘with multiple patients treated’. Notes however that ‘median PFS has not yet been reached, as five patients remain on AVA6000 treatment and nine of the eleven patients are without progression and remain in follow-up’. ‘We are very pleased to advance to the expansion cohorts in the AVA6000 trial in these three indications with high unmet need,’ Chief Executive Officer Christina Coughlin says. ‘Our development of AVA6000 is proceeding according to plans and today’s new data demonstrate the durability of the responses we have observed in the SGC indication. We believe that AVA6000 has an important role to play in the clinic, given our preliminary efficacy data and the large commercial market size of conventional doxorubicin.’
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AIM - LOSERS
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Premier African Minerals Ltd, down 32% at 0.01285p, 12-month range 0.01285p-0.305p. The developer of RHA tungsten and Zulu lithium projects in Zimbabwe announces a subscription to raise £600,000 before expenses at an issue price of 0.0125 pence per share, for 4.80 billion shares in total. Says this is primarily to fund the Zulu lithium and tantalum project, ‘principally to assist with the essential consumables at Zulu’s camp’. Company has also settled payment of around $300,000 in invoices through the issue of 1.84 billion new shares at the issue price. Proceeds will also be used for ‘general working capital’. Admission of the new shares to trading is expected to occur on or around Thursday. Says it ‘remains of fundamental importance that Premier continues to support all essential operational requirements at both Premier and Zulu while Premier is actively seeking to secure a fully funded solution for Zulu and continues engaging with both existing stakeholders and new potential investors, with a particular focus on Zulu’s prepayment and offtake partner with whom detailed discussions continue.’
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