Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

AIM WINNERS & LOSERS: Alba buys earn-in option for Sweden project

6th Nov 2024 10:41

(Alliance News) - The following stocks are the leading risers and fallers on AIM on Wednesday.

----------

AIM - WINNERS

----------

Microlise Group PLC, up 12% at 116.5 pence, 12-month range 90p-170p. Microlise, a provider of software-as-a-service solutions for transport fleets, updates on the "cyber security incident" reported last week. Says it "is making substantial progress in containing and clearing the threat from its network". Services are coming back online, and Microlise expects them to be "essentially back to normal by the end of next week". Says it is confident that no customer systems data was compromised, although "limited" employee data was impacted and investigations continue. The Nottingham-based company "remains of the view that this incident will not have a material adverse impact on its forecasts or financial position".

----------

AIM - LOSERS

----------

Alba Mineral Resources PLC, down 30% at 0.0315p, 12-month range 0.0315p-0.1025p. The Northern Europe-focused mineral explorer has raised GBP300,000 from placing 1.00 billion new shares at 0.03p each. Adds that it is planning a retail offer to raise a further GBP100,000 at the same share price. It plans to use the fundraise proceeds to continue activities across its portfolio, including blast and bulk sampling work at the Clogau mine's primary gold development target. Furthermore, Alba announces its acquisition of an option to earn into the Finnsbo rare earth project in east Sweden. If it exercises the option the three-stage process will start with Alba paying GBP100,000 on exploration for a 25% interest, before buying a further 26% interest in stage 2, and in stage 3 paying GBP350,000 for a further 29% and bringing its total interest to 80%. It will subsequently have the option to acquire the remaining 20% for GBP500,000. It is also being granted a 12-month option, on the same terms, over two of the Finnsbo owners' other Swedish projects.

----------

Surface Transforms PLC, down 27% at 0.18p, 12-month range 0.18p-13.7176p. Non-Executive Chair Andrew Kitchingman has resigned with immediate effect, after less than two months since his hiring. Company has at present given no reason for the exit. Names Ian Cleminson as interim chair, pending the appointment of Kitchingman's successor. Cleminson notes that Kitchingman's tenure "was unfortunately brief", adding: "While short term business priorities are focused on operational improvements and tight management of cash, we are reviewing strategic opportunities to bring longer term financial stability to the company." Kitchingman has been non-executive chair of Mpac Group PLC since 2016, and serves as a non-executive director of Andrew Sykes Group PLC and London Security Group PLC.

----------

By Emma Curzon, Alliance News reporter

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

FTSE 100 Latest
Value8,262.08
Change112.81