3rd Feb 2025 11:01
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Monday.
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AIM - WINNERS
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Zanaga Iron Ore Co Ltd, up 16% at 9.50 pence, 12-month range 3.51p-12.00p. Signs pact with Centrale Electrique du Congo to evaluate possible ways to supply Zanaga's power demand. CEC is 80% government owned and 20% owned by Eni Spa. "Under the terms of the memorandum, the parties will assess the technical, economic, and legal aspects required for power generation and distribution for the Zanaga project's needs for its stage one operations, allowing it to reach a production capacity of 12 millions tons per annum of iron ore with a view to further expansions," Zanaga adds.
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EnSilica PLC, up 6.4% at 44.70p, 12-month range 38.00p-75.00p. The chip maker of mixed signal of application specific integrated circuits gets GBP10.4 million funding over the next three years from the UK Space Agency. "EnSilica put forward in its application a compelling business case supported by letters of interest from potential lead customers to develop a family of semiconductor chips to support future generations of best-in-class, highly integrated, mass market satellite broadband user terminals. The terminals will be capable of connecting with various satellite constellations and will leverage advanced semiconductor technology," the firm says.
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AIM - LOSERS
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LungLife AI Inc, down 79% at 2.15p, 12-month range 1.77p-45.50p. The developer of clinical diagnostic solutions for lung cancer believes the best course of action is to propose an exit from AIM.
The firm believes that one party, currently in due diligence, is unlikely to submit a binding proposal to partner with the firm. LungLife has been on the hunt for a partner that "offers the resources and expertise to help unlock the full commercial potential and accelerate the adoption of LungLB". LungLB is a test designed to deliver information to clinicians via a blood sample for the early detection of lung cancer. "The company proposes to seek to reengage with parties regarding the securing of a strategic partner for LungLife. However, in light of the cash runway available to the company and the lack of interest in a fundraising, it has now become clear to the board that the most appropriate course of action is for the board to seek approval from the shareholders of the company to cancel the admission of the company's ordinary shares to trading on AIM," it adds.
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By Eric Cunha, Alliance News news editor
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