7th Oct 2025 10:45
(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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Ironveld PLC, up 14% at 0.5 pence, 12-month range 0.036p-0.058p. The South Africa-focused mining company's 74%-owned subsidiary Lapon Mining (Pty) Ltd has signed a binding mining operations agreement with Daemaneng Minerals (Pty) Ltd. Daemaneng will assume full responsibility for all mining operations over five years at the Lapon site, including all capital and operational expenses. Ironveld says the deal eliminates any future mining-related expenditure for Lapon Mining, and de-risks Ironveld's cost base while allowing it to retain full ownership and control of the mining licence and governance oversight. Expects Daemung to fund approximately ZAR500 million, equivalent to GBP 21.6 million, in total expenditure. Daemung must supply all ore required by Ironveld's JV DMS plant, and the partnership will establish "an additional and strategically valuable income channel through the commercialisation of run-of-mine material". Says mining operations will start shortly.
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Tan Delta Systems PLC, up 19% at 25 pence, 12-month range 17.5p-26.5p. The provider of oil-quality monitoring and maintenance systems for commercial and industrial equipment has received a new order, for its real-time oil analysis sensors, worth around GBP120,000 from Shell Marine Products Singapore, a Shell division focused on commercial shipping. The two have an existing distributor agreement. Tan Delta expects the systems "to be deployed on a range of vessels to monitor various critical pieces of equipment such as auxiliary engines, propulsion engines and other support systems". "We have been building a long-term relationship with Shell for several years to explore how they and their customers can benefit from Tan Delta real-time oil condition monitoring technologies and products...as we recently advised in our Annual Report, whilst the sales cycle remains long, I expect the growth in user references to help with market confidence," says Chief Executive Officer Chris Greenwood. "This order, whilst small in the context of the overall commercial marine market segment, is a good example of this."
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AIM - LOSERS
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First Development Resources PLC, down 54% at 4.13p, 12-month range 4.35p-9.8p. The Australia-focused exploration company, with mineral interests in Western Australia and the Northern Territory, announces the abandonment of the FDRDW002 drillhole at the Wallal Project in Western Australia. Says the hole could not be advanced to the planned depth of 1,220 metres, leading to the decision to cease drilling, due to deteriorating downhole conditions at the base of the Canning Basin sedimentary sequence. It reached 918.7 metres but did not intersect the basement geology interpreted to host the magnetic anomalies identified in desktop studies, First Development says. Says it is working with consultants to refine the geological interpretation of the Eastern anomaly whilst it assesses potential next steps. "The abandonment of FDRDW002 is a bitterly disappointing end to what has been a very challenging maiden drill campaign at our Wallal Project," says CEO Tristan Pottas. Adds, however: "Our understanding of the geology specific to Wallal has increased significantly and will now be incorporated back into the geophysical inversion modelling in order to further inform the exploration strategy for when we return to test what remains to be a highly compelling target."
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By Emma Curzon, Alliance News reporter
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IronveldTan DeltaFirst Development Resources