21st Jul 2025 10:32
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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Central Asia Metals PLC, up 6.8% at 151.07p, 12-month range 134.46p-205.50p. The London-based mining firm focused on Kazakhstan and Macedonia says it is ending negotiations to acquire ASX-listed mining firm New World Resources Ltd, after New World switched its recommendation to a higher bid from Kinterra Capital. CAM acknowledged a notice on Thursday from New World, which said Canadian private equity firm Kinterra had made "a superior proposal". This follows a series of incremental offer raises by both CAM and Kinterra, stretching back to May, when CAM made its first approach to New World. CAM's first offer valued the company at AUD0.050 per share - 30% lower than its most recent offer of AUD0.065 per share, or AUD240 million in total. Kinterra's latest bid is for AUD0.066 per share. CAM told New World told it will not submit a counter proposal, and on Monday, New World swapped its voting recommendation to Kinterra deal. As a result, CAM and New World are terminating the deed of implementation they had agreed earlier in July.
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Kenmare Resources PLC, up 1.8% at 332.00 pence, 12-month range 263.19p-450.00p. The Mozambique-focused producer of titanium minerals and zircon says the first of its two new high-capacity dredges has arrived at the Moma titanium minerals mine. The new dredges form part of the upgrade of Kenmare's largest mining plant, Wet Concentrator Plant A. The upgrade is on track to begin during the third quarter of 2025 and is set to take three to four weeks to complete. "The safe beach landing of the first of the two new, high-capacity dredges represents a key milestone in the WCP A upgrade project," says Chief Operations Officer Ben Baxter. "It marks the start of an exciting quarter, which will see us begin commissioning of the dredges and upgraded plant, ahead of WCP A starting its transition to the Nataka ore zone in Q4. While I was on site at Moma last week I was pleased to see the significant and safe progress being made with the upgrade work. The project continues to progress to plan and we will provide further updates to the market as we progressively de-risk this project during the remainder of the year."
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SMALL-CAP - LOSERS
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Ashtead Technology Holdings PLC, down 2.2% at 334.97p, 12-month range 316.00p-888.00p. Royal Bank of Canada cuts the price target for the Aberdeenshire, Scotland-based subsea equipment rental company to 560 pence from 780p, with an 'outperform' rating.
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By Emily Parsons, Alliance News reporter
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Related Shares:
Central Asia MetalsKenmare Resources