WINNING AND LOSING OBJECTIVES: Boat drilling fails; Empire Metals on the rise

(Alliance News) – The following stocks are the major rises and falls for AIM in London on Thursday.

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GOAL – WINNERS

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Empire Metals PLC, up 28% at 1.6p, 12-month range 0.75p-2.6p. The explorer and resource developer discovers a “large magnetic anomaly” at the Pitfield copper project in Western Australia. “Mapping shows a vast anomaly of copper, silver and other base metals over a length of 40 kilometres, which builds confidence in the potential for the discovery of a ‘giant’ copper mineralized system at Pitfield” ,

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Libertine Holdings PLC, up 13% at 15.85p, 12-month range 12p-42p. The linear generator maker said revenue in the six months to September 30 was £600,000, down from £100,000 a year earlier. It also notes the completion of its performance validation prototype and will now begin combustion testing with MAHLE Powertrain. “We are excited to demonstrate the performance benefits and commercialize our technology,” said Managing Director Sam Cockerill.

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GOAL – LOSERS

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Longboat Energy PLC, down 16% at 31.69p, 12-month range 31.22-77.2p. The North Sea-focused energy company announces drilling results in Oswig “at the lower end of pre-drill expectations”. A preliminary estimate of recovery resources at Oswig is between 10 and 42 million barrels of oil equivalent, based on in-place volumes of 100 to 215 million boe. “The drilled Oswig fault block has substantial volume potential and is located close to existing infrastructure. In addition, there is a possible southward extension within the same fault block. Longboat looks forward to working with the partnership. to define an evaluation program and optimal well configuration to maximize flow rates from potential future development wells,” said Managing Director Helge Hammer.

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Yourgene Health PLC, down 9.3% to 3.4p, 12-month range 3.4p-13.57p. Shares of the medical diagnostics company hit a 12-month low as it updated its first half ended Sept. 30. Yourgene warns of “some erosion” of its margins due to inflationary and economic pressures and currency fluctuations in the UK. It now expects margins to remain below the 60% level previously forecast. Total revenue fell to £9.6m year-on-year from £17.5m, ‘reflecting the post-pandemic transition of Covid services’.

“To alleviate margin pressures, the board continues to assess its cost base in the context of its pipeline of business partnerships and discretionary investment options. operating to achieve a positive adjusted result [earnings before interest, tax, depreciation, and amortisation] over the next fiscal year,” says Yourgene.

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By Elizabeth Winter; [email protected]

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