26th Feb 2025 10:29
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Wednesday.
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AIM - WINNERS
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Anglo Asian Mining PLC, up 6.8% at 120 pence, 12-month range 54p-120p. The Azerbaijan-focused gold, copper and silver producer announces guidance for 2025. Expects gold production between 28,000 and 33,000 ounces, up from 15,073 ounces in 2024, and "highest ever" copper production of 6,500 to 6,800 tonnes against last year's 377 tonnes. Also forecasts between USD110 million and USD125 million in turnover, and USD45 million to USD55 million in earnings before interest, tax, depreciation and amortisation. Figures for 2024 are not yet reported. Company expects to restart production from the plant at its Demirli mining property "before the end of the year" but guidance excludes any production, turnover and costs from Demirli. Chief Executive Officer Reza Vaziri notes "that the guidance for 2025 turnover is the highest annual turnover for the group", adding: "2025 will be a milestone year for the company as we begin to ramp up our proportion of copper within our production portfolio, ahead of bringing the larger Garadag and Xarxar copper assets into production in the coming years."
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Sovereign Metals Ltd, up 6.0% at 44.5 pence, 12-month range 22.5p-44.5p. The Malawi-focused mine explorer and developer says further test work has confirmed that graphite from its Kasiya rutile-graphite project has the key characteristics required for use in expandable applications such as fire retardent, and expanded ones such as gaskets, seals, and brake linings. Says Kasiya's medium to coarse flake achieved very high expansion ratios using standard reagents at room temperature and short durations providing a competitive advantage over other current and potential sources of graphite supply. Adds that test results will be used for customer engagement and potential offtake discussions. CEO Frank Eagar says: "These results along with our industry-low cost position, offers Kasiya the potential to become the world's dominant natural graphite supplier, whilst remaining a primary rutile project."
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AIM - LOSERS
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Kropz PLC, down 16% at 0.525p, 12-month range 0.525p-2.75p. The Africa-focused phosphate producer and developer says Elandsfontein started 2025 off positively with record production of 33,000 tonnes for January. Production totalled 107,772 tonnes of phosphate concentrate and sales of 131,282 tonnes of phosphate concentrate for the four months ending January 31. Says first shipment to the European market was made in January, and that it expects a further increase in demand for Elandsfontein's rock phosphate. Reports however that Teh Hong Eng Investments Holding Ltd and Meridian Investment Group PTE Ltd have served particulars of claim in litigation in the English High Court, against Kropz and its subsidiary Cominco. Says litigation relates to an alleged breach of THE's right of first refusal to acquire Cominco shares at the time of Kropz's 2018 offer to Cominco shareholders. This resulted in Kropz acquiring Cominco's entire share capital. Says that it and Cominco have notified the court that they intend to fully defend the litigation, which THE and Meridian started only shortly before the statutory limitation period expired.
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By Emma Curzon, Alliance News reporter
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