AIM WINNERS & LOSERS: Solar panel maker Verditek says needs fundraise

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

Alliance News 29 November, 2023 | 10:45AM
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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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AIM - WINNERS

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Ethernity Networks Ltd, more than doubled to 2.27 pence on Wednesday morning from 0.78p on Tuesday, 12-month range 0.20p-10.42p. The supplier of data processing semiconductor technology says it has put pen to paper on a USD800,000 deal with a "long-term networking data communications customer". The pact means it has expanded an existing licence with the customer, relating to Ethernity ENET flow processor technology. "The customer has been licencing this technology from Ethernity for over ten years and the licence expansion permits the deployment of the technology on a broader range of the customer's ethernet access system products," Ethernity adds.

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Empire Metals Ltd, up 16% at 9.96p, 12-month range 1.44p-10.20p. The stock roars to this 12-month high after the exploration and development reports its "highest grade drilling results" to date at the Pitfield asset in Western Australia. The results confirmed "high-grade" titanium dioxide mineralisation zones. "These exceptional results provide further evidence that we have a high-grade titanium enriched mineralised system of global strategic significance at Pitfield," Managing Director Shaun Bunn says.

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AIM - LOSERS

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Verditek PLC, down 37% at 0.20p, 12-month range 0.15p-1.90p. The solar panel producer warns that it has "limited cash resources" and needs to conduct some sort of fundraising or recapitalisation to bolster its coffers "within the next four to 12 weeks", depending on when it receives a VAT refund from the Italian tax authorities. "The company is actively exploring a number of options. In particular, the company is in discussion with a potential strategic partner, active in the solar energy space, concerning a possible collaboration including taking a significant stake in the company and a possible joint venture," Verditek says.

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By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Verditek PLC 0.11 GBX -12.50 -
Empire Metals Ltd 9.00 GBX -1.10 -

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