3rd Oct 2024 10:40
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Thursday.
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AIM - WINNERS
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EnergyPathways PLC, up 48% at 2.3 pence, 12-month range 1.55p-4.25p. Enters into a binding GBP5.1 million loan facility, with Global Green Asset Financing Ltd, for its Marram Energy Storage Hub or MESH infrastructure project. Says the loan will support the large-scale clean energy storage facility through the front-end engineering design phase with a view to reaching a final investment decision at the end of 2025. Global Green Asset Financing is a Luxembourg-based financing platform focused on cleantech, renewable energy and similar sectors. EnergyPathways says the up to GBP5.1 million facility has a three-year term and comes with a minimum commitment of GBP2.6 million over its term. Drawdowns must start during the fourth quarter "and will be phased in line with EnergyPathways' planned use of funds on the MESH project to develop a fully decarbonised integrated natural gas and green hydrogen energy storage facility".
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Mkango Resources Ltd, up 4.8% at 5.5p, 12-month range 4.2p-12.25p. Says Mkango Rare Earths UK Ltd and HyProMag Ltd have been awarded grants totalling GBP218,932 by Innovate UK to advance their medium-loop and long-loop rare earth magnet recycling routes. Says both are underpinned by the patented Hydrogen Processing of Magnet Scrap or HPMS technology developed at the University of Birmingham for demagnetising and liberating end-of-life rare earth magnets from scrap streams. Grants are part of Innovate UK's GBP15 million investment programme, "which aims to strengthen the UK's supply chain resilience within critical minerals". Both HyProMag and Mkango UK are 100% owned subsidiaries of Maginito Ltd which is 79.4% owned by Mkango and 20.6% owned by CoTec Holdings.
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AIM - LOSERS
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Premier African Minerals Ltd, down 12% at 0.0325p, 12-month range 0.0325p-0.49p. Announces subscription for 1.75 billion new shares to raise approximately GBP550,000 before expenses at 0.0315 pence. Says it will use the proceeds principally to assist with the ongoing mining operations at Zulu and general working capital. Adds that "it remains of fundamental importance that Premier continues to support all essential operational requirements" at the Zulu lithium and tantalum project, and that it is in negotiations that may result in direct investment into Zulu.
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By Emma Curzon, Alliance News reporter
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