21st Oct 2022 10:47
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Orosur Mining PLC, up 24% at 12.38 pence, 12-month range 7.03p-19p. The South America-focused mineral exploration and development company shares "encouraging" drill results from Pepas and Pupino. Holes PEP005 and PEP007 returned "substantial gold intersections", including 80.55 metres at 3.05 grammes per tonne gold. "PEP001 was clearly a spectacular result, but being only the first hole, caution was warranted. It is encouraging therefore that further holes have confirmed this first result and we eagerly await results from better positioned holes," Chief Executive Brad George says.
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Directa Plus PLC, up 18% at 90p, 12-month range 74p-178p.The graphene-based product maker reports its first major commercial contract for Gipave. Industrial firm ASTM Group will use the product in sustainable asphalt for the A4 Torino-Milano motorway section in Italy. "It is a significant validation of our product with no significant impact on 2022 sales but a supply of several tonnes of material in 2023/2024," says CEO & Founder Giulio Cesareo. No financial details are provided.
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Alpha FX Group PLC, up 11 at 2,069.3p, 12-month range 1,060p-2,400p. The foreign exchange risk management and international payments firm says revenue growth is strong in 2022 so far, with profit now set to be "materially ahead" of expectations. This is due to the rising interest rates, which are generating additional income from Alternative Banking's overnight cash balances, it explains.
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AIM - LOSERS
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Hummingbird Resources PLC, down 20% at 5.82p, 12-month range 5.2p-22p. The miner says gold production at Mali, Yanfolila falls to 16,827 ounces in the third quarter, from 20,013 ounces in the second quarter of 2022. Average realised gold price falls to USD1,713 per ounce compared to USD1,851 in the quarter immediately before. In addition, all in sustaining costs rise to USD2,161 per ounce from USD1,859 per ounce. As a result of various issues which have hit production, the firm lowers annual production guidance, and revises all in sustaining costs guidance upwards.
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By Elizabeth Winter; [email protected]
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