16th Aug 2023 11:02
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.
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AIM - WINNERS
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Belluscura PLC, up 18% at 43.8 pence, 12-month range 23p-89p. The medical device developer focused on lightweight and portable oxygen enrichment technology receives purchase orders for over 6,500 of its Discov-R portable oxygen concentrator. Says order means potential revenue of USD15 million as it expects production of the concentrator to start by the end of this quarter. Further, Belluscura says it is progressing with its registration mark applications for the EU's product safety CE mark and the UK's product safety UKCA mark for its X-Plor portable oxygen concentrator. CEO Bob Rauker dubs the new orders "another exciting development" for the firm.
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Chaarat Gold Holdings Ltd, up 10% at 7.43 pence, 12-month range 6.06p-16.4p. signed an agreement with Gold Mining Co LLC to sell its Armenian subsidiary, Chaarat Kapan CJSC, which owns the Kapan mine. The consideration is for USD55.4 million in total, comprising USD5 million in cash, and USD50.4 million from the assignment of intragroup payables due to Charrat Kapan. Gold Mining Co operates the Lichkvaz mine in Armenia, which has supplied third-party ore to the Kapan plant for processing for a number of years. Will use funds from the sale as working capital.
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AIM - LOSERS
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Tern PLC, down 16% at 5.02p, 12-month range 3.23p-12.5p. The investment company specialising in supporting early-stage 'internet of things' technology businesses reports that interim pretax loss widens to GBP2.8 million from GBP2.4 million a year before. Net asset value per share falls to 5.7p a share at June 30 from 8.5p a year before, due to a fall in the valuation of its portfolio. Looking ahead, plans to implement cost-savings measures with the aim of cutting around 40% of its overall costs next year compared to 2022. "We remain focused on maximizing this value to ultimately achieve good exits from our various investments, at the appropriate time, in order to deliver returns for our shareholders," says Chair Ian Ritchie.
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Alba Mineral Resources PLC, down 6.1% at 0.11p, 12-month range 0.09p-0.22p. The mineral explorer updates on the dewatering and safety and access works at its primary target in Clogau-St David's gold mine in north Wales. Says that while dewatering was initially successfully undertaken down to around six metres in depth, the workings reflooded due to "unseasonal and exceptionally heavy" rainfall during the dewatering period. "The company has requested from [Natural Resources Wales] an extension to the higher rate (100 cubic metres per day) abstraction rate, which the company is awaiting approvals to undertake," it says. Also notes interim results from GreenRoc Mining PLC, in which it holds a 43% stake, with GreenRoc's pretax loss widening to GBP417,000 from GBP484,000. GreenRoc shares climb 4.7%.
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By Elizabeth Winter, Alliance News senior markets reporter
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