The following stocks are the leading risers and fallers on AIM on Friday.
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AIM - WINNERS
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Ironveld PLC, up 11% at 0.0565 pence, 12-month range 0.0345p-0.0565p. The South Africa-focused iron ore miner says Lapon Mining (Pty) Ltd, its South African subsidiary, has completed its first blast at the planned opencast pit on the Altona farm in ‘a significant operational milestone’. Expects the initial waste blast to have exposed approximately 3,000 tonnes of unweathered magnetite ore. This ‘will be subsequently blasted and transported to the JV DMS processing plant for conversion into dense media separation-grade magnetite. Ironveld says Lapon aims to ramp up production to 20,000 tonnes of unweathered magnetite ore per month, by extending the current bench to 100 metres and establishing a second contiguous 100-metre bench. Says both benches have already had topsoil and free-dig overburden removed and are ready for the next phase of drilling and blasting. ’With mining now underway and ore sales to the DMS plant set to commence, we are well positioned to ramp up production and meet growing demand,‘ says Chief Executive Officer Kris Andersson. ’We are operating with strong positive momentum, and I am confident in our ability to continue delivering and capitalising on the significant opportunities ahead.‘
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SDI Group PLC, up 7.8% at 76.5p, 12-month range 47.5p-76.5p. The Cambridge, England-based maker of scientific and technology products for digital imaging and sensing control applications has acquired Severn Thermal Solutions Ltd for net consideration of £4.8 million, excluding £3.6 million in gross and net cash acquired. Total consideration includes £7.8 million cash payable immediately on completion. SDI says that for the year ended September 30, Severn generated revenue of £2.4 million and reported earnings before interest and tax of £1.1 million. CEO Stephen Brown comments: ’Severn is a growing, profitable business, aligning with our key investment criteria of targeting scientific and industrial niche markets with global reach. Severn benefits from a strong, experienced management team who will remain in place, maintaining its sustainable sales pipeline, supported by significant international exposure. We are excited by the prospects for this acquisition, both as a standalone entity and in the cross-sell opportunities to other businesses across the group. We continue to pursue our acquisitive growth strategy alongside our organic growth programme.‘
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AIM - LOSERS
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Bango PLC, down 7.0% at 87p, 12-month range 64p-150p. The Cambridge, England-based digital payments solutions provider reports total revenue of $53.4 million for 2024, up 16% from $46.1 million. Also reports narrowed pretax loss of $3.5 million, against the prior year’s $10.2 million. Looking ahead, it says it expects profit to increase in line with consensus this year, and expects ’further profitability upside‘ in 2026. Bango also announced that it has entered into a new loan agreement with NHN Corp, under which it will receive an additional ₩3.9 billion, or approximately $2.9 million. NHN has been granted 2.0 million five-year warrants to buy new shares in Bango at 80p each. Also, Bango has secured a new $15 million revolving credit facility with NatWest, replacing the existing £3 million overdraft. Finally, Chief Marketing Officer Anil Malhotra is stepping down to assume a new internal role, focused on ’guiding Telcos and other resellers to integrate their AI strategies‘ with the Digital Vending Machine platform. Also, Frank Bury, who Executive Chair Ray Anderson says ’brought extensive financial industry experience and has provided excellent guidance and counsel‘, is to step down. Both changes will formally take effect after the annual general meeting on June 30.
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