29th Apr 2025 10:19
(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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Xtract Resources PLC, up 28% at 1.025 pence, 12-month range 0.5p-1.125p. The Australia and Zambia-focused miner reports assay results for first three diamond drill holes at the Silverking project in Zambia. Reports "notable high-grade copper" and "silver intercepts achieved over impressive mineralised widths". These include 4.15% copper and 42.91 grams of silver per tonne in Borehole SKIDD003. Xtract says mineralisation has been tested to an end-of-hole depth of approximately 200 metres, with drilling scheduled to extend to a vertical depth of approximately 400 metres. Says work will continue to test other targets that have been identified. "High copper grades are backed up by significant silver assays peaking at grades in excess of 200g/t Ag which at current silver prices, represent a by-product value potentially sufficient to cover the majority of future mining costs," comments Executive Chair Colin Bird. "The exploration team has stepped out from the initial target and has commenced drilling to test possible extensions and also the depth extent of the body. In addition, new previously unrecognised structures that may also host copper-silver mineralisation are being evaluated."
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Manolete Partners PLC, up 17% at 94.5p, 12-month range 72p-148p. The Buckinghamshire, England-based insolvency litigation financing firm estimates total revenue of GBP30.8 million for the year ended March 31, up from GBP26.3 million for the previous year. "This is the result of the record level of Realised Revenues on completed cases of [GBP29.5 million]," Manolete says. Adds that Realised Revenues were 13% higher than the market expectation which it believes to be GBP26.1 million. Expects pretax profit of GBP1.6 million, up 60% from GBP1.0 million. Reports 'records' of 282 new case investments, 896 new case referrals and 272 case completions. Net cash income from completed cases has increased to GBP13.3 million from GBP10.8 million. Earnings before interest and tax rise to GBP3.2 million from GBP2.5 million. "The past year has seen Manolete achieve record KPIs across all key metrics of the business and outperform market forecasts. Given the strong tailwinds presented by the challenging UK and global business environments, we expect to build upon those achievements in the forthcoming year," Chief Executive Officer Steven Cooklin comments.
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AIM - LOSERS
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Prospex Energy PLC, down 9.1% at 5.5p, 12-month range 5.3p-8.4p. The Europe-focused gas and power project investor says HEYCO Energia Iberia SL, the operator of the Viura gas field in Spain, has advised it of the temporary pausing of production of the new Viura-1B well due to a leak in the completion tubing. Says HEI is sourcing the necessary equipment for a workover and aims to restart production by mid-June. "Although this is a temporary halt to production, it will have an impact on the stated schedule for drilling the development wells, which is now anticipated to take place next year," Prospex says. It owns 7.24% of Viura due to holding a 7.5% stake in HEI. "It is important to re-establish stable gas rates from Viura before the drilling of the new development wells commences in order to optimise the financing options for phase 2 of the development drilling campaign," CEO Mark Routh says. "We have every confidence in the operator...to deliver the optimum outcome of the workover interventions and more importantly the future development well drilling. One benefit arising from the disruption to production at the field and the resultant delay to the development drilling it is that it provides Prospex with more time to generate cash from its other producing assets and fund our share of expenditure at Viura reducing the need to source additional funding from the market."
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By Emma Curzon, Alliance News reporter
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Related Shares:
XtractManolete Partn.Prospex Eng