5th Sep 2024 11:09
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Thursday.
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AIM - WINNERS
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Kodal Minerals PLC, up 10% at 0.54 pence, 12-month range 0.27p-0.77p. The West Africa-focused mineral explorer and developer says that the Bougouni lithium project in Southern Mali, which is fully-funded, continues to "rapidly advance". Drilling results from the Boumou prospect, located in Bougouni, include 7 metres at 1.2% lithium oxide from 147 metres. Diamond core drilling is continuing at the prospect in order to gather "detailed geological information", as well as samples for future metallurgical test work and geotechnical logging for open pit optimisation parameters. Chief Executive Officer Bernard Aylward adds: "The development of Bougouni...is now entering a critical and exciting phase as the construction assembling of the processing circuit commences and we will continue to provide regular updates as work progresses."
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AIM - LOSERS
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Xeros Technology Group PLC, down 40% at 0.74p, 12-month range 0.74p-4.00p. The Rotherham, England-based laundry technology firm notes several developments, which are expected to impact annual expectations. Firstly, its Indian domestic laundry licensee, IFB Industries Ltd, has changed the specification of the 9 kilogram washing machine it was testing, meaning that mass market launch is now expected in 2025. Further, microfibre filtration legislation is now in place in France, the standards and efficacies pertaining to it remain unclarified. As a result, this is not expected to drive demand for the group's XF3 technology in the short term, as originally expected. Accordingly, Xeros downgrades revenue expectations for financial 2024 and financial 2025 to GBP500,000 and GBP3.8 million respectively, and adjusted loss before interest, tax, depreciation and amortisation to GBP4.2 million and GBP1.0 million.
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By Holly Beveridge, Alliance News senior reporter
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