25th Feb 2025 10:23
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Tuesday.
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AIM - WINNERS
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Staffline Group PLC, up 14% at 27.4 pence, 12-month range 18.8p-41.5p. The Nottingham, England-based recruitment and training company has sold workplace training and employability business PeoplePlus Group Ltd to Talent International (UK) Ltd. Talent International is a wholly owned subsidiary of Swipejobs Holdings Pty Ltd. Disposal was completed for cash consideration of GBP12.0 million, GBP2.0 million of which will be deferred contingent on potential new contracts which are expected to commence over the next 12 months. Also, Staffline announces the launch of a buyback programme to repurchase shares worth up to GBP7.5 million in total. The first tranche will be for up to 15.5 million shares and the second for up to 12.4 million.
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Arkle Resources PLC, up 7.7% at 0.35 pence, 12-month range 0.19p-0.35p. The lithium, zinc and gold exploration company, which has projects in Botswana, Zimbabwe and Ireland, reports results from analyses of preliminary regional sampling from part of its 937 square kilometres licenses in the Makgadikgadi Salt Pans in Botswana. Says that lithium was identified in all 20 samples, albeit at "lower grades". Arkle says however that it is normal for lithium to fluctuate in these environments, and believes it is "highly plausible" that higher lithium levels will be located in other parts of Makgadikgadi. "The key point is that Lithium has been detected in all samples and that higher levels may be found in other areas," it says. Also, some samples contained "significant grades of magnesium that may be economically extracted as an additional product under a new process of direct lithium extraction". This includes eight samples with over 1% magnesium content. Arkle says this finding "creates a compelling potential magnesium deposit which will also guide further exploration work".
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AIM - LOSERS
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Bezant Resources PLC, down 6.4% at 0.022p, 12-month range 0.017p-0.035p. The copper and gold exploration company has signed terms for an agreement to sell Puna Metals SA to Ajax Resources PLC, a natural resources-focused special purpose acquisition company. Puna holds the 12 licences which make up the Eureka project in northern Argentina. Bezant, which has projects in Africa, South America and the Philippines, will receive an initial USD120,000 cash payment followed by deferred consideration of an additional USD100,000 in new Ajax shares. The shares will become payable on the admission to trading of the enlarged share capital of Ajax to a recognised stock exchange or multilateral trading facility, Bezant says. Shares in Ajax are currently suspended from trading in London at the company's request, as the acquisition would constitute an initial transaction under the FCA UK listing rules. Ajax notes that Eureka "is in the advanced exploration stage and is drill-ready, with the potential to become a low-cost gold/copper mine within approximately [three or four] years subject to permitting and other variables".
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By Emma Curzon, Alliance News reporter
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Related Shares:
StafflineArkle ResBezant ResAjax Resources