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AIM WINNERS & LOSERS: Quartix falls as downgrades 2023 expectations

6th Oct 2023 10:15

(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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Tlou Energy Ltd, up 16% at 1.57 pence, 12-month range 1.30p-2.90p. The Botswana and Southern Africa-focused energy company says it raised money via placing shares to fund the development of its Lesedi project in Botswana. It raises AUD678,977, about GBP354,867, via placing 19.4 million shares at a price of AUD0.035 per share. Tlou Energy funds the Lesedi project in Botswana with the funds. The company has a large gas field in the country and expects to complete the construction of a transmission line to connect the Lesedi gas project to the existing power grid to complete this year.

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AIM - LOSERS

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Quartix Technologies PLC, down 22% at 155.16p, 12-month range 125.55p-338.00p. The vehicle tracking systems downgrades its expectations for 2023 by around GBP900,000 and by GBP2.6 million for 2024. Quartix adds that its adjusted earnings before interest, tax depreciation and amortisation "may differ" from current market expectations by around GBP1.1 million and GBP2.4 million respectively. The firm will consider paying a reduced dividend for the full-year.

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Vast Resources PLC, down 16% at 0.21p, 12-month range 0.15p-1.10p. The mining and resource development company raises GBP1.8 million via placing of 933.0 million new shares at 0.195 pence per share. It says the placing will be used for working capital and to support its Baita Plai mine in Romania. The funds will also cover any unforeseen operational costs due to recent protest action and fund future expansion capital costs, drilling and mine development costs.

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By Sophie Rose, Alliance News reporter

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