25th Apr 2023 10:50
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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African Pioneer PLC, up 30% at 2.85 pence, 12-month range 1.80p-4.00p. The Namibia-focused exploration and development company is awarded an environmental clearance certificate at its 85%-owned Ongombo copper-gold project in Windhoek, Namibia. Explains the award is the last significant permitting hurdle in the pathway to production at the project. Chair Colin Bird says: "We are committed to bringing the Ongombo project into production at the earliest opportunity to meet forecast global copper demand. African Pioneer is well-placed to take advantage of the expected copper supply crisis with both option and joint venture agreements in place with First Quantum Minerals, Sandfire Resources and our own projects."
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Technology Minerals PLC, up 14% at 2.74 pence, 12-month range 0.85p-3.75p. The company says its 48%-owned battery recycling business, Recyclus Group Ltd, has received final clearance from the UK Environmental Agency to commence full operations at its lithium-ion battery recycling plant in Wolverhampton, England. Recyclus is also awarded approved battery treatment operator status by the EA, allowing it to begin recycling operations immediately. The approval from the regulator for the Wolverhampton plant is a major milestone for Recyclus, Technology Minerals says, making it the first industrial scale plant in the UK with the capability to recycle lihtium-ion batteries. Chair Robin Brundle says: "Given the global shift towards electrification and the growing demand for Li-ion batteries, we believe we have a compelling first mover advantage in this burgeoning market."
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SMALL-CAP - LOSERS
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Okyo Pharma Ltd, down 3.1% at 1.50 pence, 12-month range 1.43p-8.50p. The ophthalmology-focused bio-pharmaceutical company announces the activation of the first clinical trial site in the US for its phase two trial evaluating the efficacy and safety of OK-101 ophthalmic solution in subjects with dry eye disease. First patient first visit is expected to occur within the next two weeks. Chief Executive Gary Jacob says: "With the activation of our first clinical site we are now very close to the opening of the OK-101 phase 2 trial and are looking forward to initiating enrolment and completing the trial before the end of the year."
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By Heather Rydings, Alliance News senior economics reporter
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