9th Jul 2024 10:49
(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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Strategic Minerals PLC, up 53% at 0.23 pence, 12-month range 0.080p-0.34p. The mining and exploration company says sales revenue in the quarter to June 30 surges to USD1.3 million from USD367,000 a year ago. It notes that this is the highest June quarter sales on record. Looking ahead, the company says full year sales in 2024 are now upgraded and expected to exceed USD4.0 million, up from USD1.6 million recorded in 2023.
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Cadence Minerals PLC, up 32% at 4.10p, 12-month range 2.87p-9.00p. The investment and development company notes a 20% increase of post-tax net present value to USD1.14 billion at a discount rate of 10%, with profit after tax of USD3.14 billion over the life of mine. Also says there has been a 10% increase in average production after ramp-up to 5.82 million dry metric tonnes. Cadence Chief Executive Kiran Morzaria comments: "On behalf of our board, I am thrilled with the positive outcomes from the updated economic study at the Amapa Ore project, along with further he significant progress made at Amapa. The increased net present value of USD1.15 billion and the enhanced post-tax internal rate of return demonstrate substantial improvements to the project's already robust economics."
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AIM - LOSERS
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Panthera Resources PLC, down 5.9% at 5.55p, 12-month range 4.57p-11.80p. The gold exploration and development company begins a diamond drilling programme on the Kalaka project in Mali. Mark Bolton, managing director of Panthera, commented: "The company continues to advance its discussions regarding the potential restructuring of its interest in its West African gold assets. If successful, it is anticipated that this will not only provide a path for the company to realise significant value from its West African gold portfolio, but also provide funding for both the current drilling programme and advancing these assets going forward."
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By Sophie Rose, Alliance News senior reporter
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