25th Apr 2025 11:48
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Friday.
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AIM - WINNERS
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Empyrean Energy PLC, up 23% at 0.12 pence, 12-month range 0.0725p-0.5105p. The oil and gas developer says drill stem test operations on the Wilson River-1 well in Australia are now due to commence in early May. Says its joint-venture partners all have elected to participate in the DST work. "The testing program has been refined and equipment has been sourced," says Chief Executive Officer Tom Kelly. Empyrean, which has interests in the US, Indonesia and Australia, notes that flooding in Queensland since drilling was completed in late March has necessitated remedial work, and allowing the drill pad and access tracks to dry. Kelly however says: "Whilst there have been some minor remedial work required due to the flooding, we are in good shape to commence testing in early May."
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Wishbone Gold PLC, up 18% at 0.1325p, 12-month range 0.1p-1.375p. The Western Australia-focused miner is preparing to drill into the main undrilled gold target at its Red Setter Dome near the Telfer gold mine. Says the latest interpretation of all the data from site, and the geophysical data generated from the mobile magnetotellurics survey conducted by Expert Geophysics Ltd, has shown that Red Setter's main dome target "remains completely untested and untouched by drilling". Adds that the main target is about 200 metres deeper than previously drilled, interpreted to sit at around 550 metres, "and detailed planning is now underway to drill into the core of the Red Setter Dome". Notes that previous drilling "only targeted a minor magnetic feature to the north of the main Red Setter Dome target but still intersected significant gold and copper mineralisation". This included five metres at 1.2 grams of gold per tonne and 0.002% copper from 319 metres in WRSDD0015, and seven metres at two grams of gold per tonne and 0.38% copper from 273 metres in WRSDD0008. "These results are still significant and require further follow-up as they have similar characteristics to the nearby Telfer Gold Mine, where [Greatland Gold PLC] recently reported a mineral resource estimate" of 0.64 grammes of gold per tonne of ore and 0.08% copper, Wishbone says.
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AIM - LOSERS
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Enteq Technologies PLC, down 63% at 0.575p, 12-month range 0.575p-9.5p. The London-based developer of technologies for measurement, logging and geo-steering announces the conclusion of the formal sales process it announced in late January. Says there is no realistic prospect of receiving a takeover offer in the near-term future, and as a result there is no merit in continuing the sales process at this juncture. Company is therefore no longer in an offer period. Intends however to "engage with parties that are interested in the acquisition of the business, assets and IP within the Enteq group outside the auspices of an FSP". Enteq furthermore says that it has been taking all necessary and appropriate steps to reduce all expenditure, while protecting the value of any assets which may contribute to creditor and shareholder returns, in co-operation with advisers. Has a USD602,000 cash balance as of Friday, giving it an anticipated cash runway until mid-May. Says its Saber equipment will remain in Houston and has been prepared for further active test drilling operations. Adds that the Australian customer which has been undertaking the testing "remains engaged and interested in the potential of this technology for their operations and will be ready to run the equipment again when the rig schedule and availability of Saber equipment permits".
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By Emma Curzon, Alliance News reporter
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Related Shares:
EmpyreanWishboneEnteq TechGreatland Gold