AIM WINNERS & LOSERS: Hummingbird to start Kouroussa construction

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on ...

Alliance News 12 October, 2021 | 11:00AM
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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

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AIM - WINNERS

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Hummingbird Resources PLC, up 15% at 21.00 pence, 12-month range 15p-40p. Secures group level financing package from Coris Bank International to fully fund the Kouroussa gold mine in Guinea into production, along with internal cash flows. Facility worth USD100 million at a fixed interest rate of 8.5% over four years. Says construction to start this quarter, with first gold pour schedules for end of second quarter of 2023.

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Zenova Group PLC, up 11% at 17.8p, 12-month range 15.02p-24.2p. Launches Zenova WB wildfire product following "a number of highly successful" tests. In lab-controlled conditions, the product prevented ignition and flaming of dry grass fuels that were treated with it. Expects product to play "crucial global role" in tackling wildfires.

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Galantas Gold Corp, up 9.6% at 25.2p, 12-month range 12.75p-44.00p. Says first hole to target Kearney vein from an underground drill platform returned two high-grade intersections. Adds that surface drilling targeting the Joshua vein is also in progress, with results for the first of these holes showing intersection of 7.7 grams per tonne gold and 24.3 grams per tonne silver.

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AIM - LOSERS

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Greatland Gold PLC, down 10% at 18.79p, 12-month range 15.26p-38.5p. Falls after the publication of the pre-feasibility study for the South East Crescent area of the Havieron gold-copper deposit in Paterson, Australia. Data reveals an initial probable ore reserve estimate of 14 million tonnes, containing 1.6 million ounces of gold and 73,000 tonnes of copper, at a grade of 3.72 grams per tonne of gold and 0.54% of copper. Analysts at Berenberg comment: "The initial scale of the project may be smaller than anticipated by the market, especially given the very steep rally last week, and we believe that recent steep gains could be reversed." Stock has risen 17% since start of October.

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ASOS PLC, down 2.4% at 2,351.36p, 12-month range 2,284p-5,994.95p. Extends losses after tumbling 13% on Monday, when the online fashion retailer warned profit in the financial year ahead is set to slide and announced the departure of Chief Executive Nick Beighton.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Zenova Group PLC Ordinary Shares 17.00 -
Greatland Gold PLC 14.15 -
Hummingbird Resources PLC 14.75 -
ASOS PLC 2,320.00

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