23rd Dec 2024 10:52
(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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Goldstone Resources Ltd, up 35% at 1.25 pence, 12-month range 0.65p-2.15p. The West Africa-focused gold explorer announces a new agreement regarding convertible loan notes issued to Future Global Resources Ltd, formerly known as Blue Gold International Ltd, in January last year. Says the CLNs will be assigned to Future's secured lender Devonport Capital Ltd with the redemption date extended to January 31. Also, interest will stop accruing on the notes effective from Friday last week. Goldstone says that on the date of assignment or the redemption date, whichever is earlier, the CLNs and any accrued interest will be converted into 85.9 million Goldstone shares at 3.25p each. The share issue "will constitute full and final redemption of the outstanding principal amount" due which will total GBP2.8 million on the conversion date. At this point, Goldstone will issue a further 61.8 million new shares to Devonport.
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Proteome Sciences PLC, up 28% at 3.57p, 12-month range 2.5p-5.03p. The protein-focused drug development services provider says it has entered new loan agreements worth GBP1 million aggregate with Vulpes Investment Management Private Ltd and Chair Christopher Pearce. Each investor will lend GBP500,000, repayable in two years' time. Consequently Proteome's loans with Vulpes and Pearce total around GBP13.1 million. Vulpes is owned by Proteome board member Martin Diggle. Company says it will use the loan partly to buy a new Exploris mass spectrometer "to further expand its capacity for future orders". Also, Pearce will serve as executive chair upon the departure of Chief Executive Officer Mariola Soehngen at the end of January, until a new CEO is appointed. Also, the company confirms "that momentum has continued through the second half" of its current financial year. Adds: "In particular, the strong growth in the company's services business orders has carried over into the 2025 and 2026 pipeline and the board expects this to be reflected in the 2025 results." Finally, Proteome announces that Chief Financial Officer Abdel Omari will resign on January 31 but "will continue to be involved" as a part-time consultant in the future.
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AIM - LOSERS
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Gemfields Group Ltd, down 13% at 6.25p, 12-month range 6.25p-13.6p. The London-headquartered miner says it is suspending activities at its 75%-owned Kagem emerald mine in Zambia. Says Kagem Mining Ltd will instead focus on processing ore from its "significant" stockpile. It is also "halting all non-essential spend" and suspending planned capital expenditure at its north Mozambique ruby development assets. Moreover, Gemfields is halting operations at Nairoto Resources Ltd in northern Mozambique, a gold project for which it is seeking potential buyers. Lastly, it is focused on "targeted rationalisation of operations and businesses across the group", and "assessing strategic options" for its "iconic luxury brand" Faberge. Explains that its latest emerald and ruby auctions, as previously announced, generated "materially lower" revenue than usual due to "disturbed" market dynamics, "economic difficulties in China" and other factors.
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By Emma Curzon, Alliance News reporter
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