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The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday. ---------- SMALL-CAP - WINNERS ---------- Gem Resources PLC, more than doubles to 0.42 pence, 12-month range 0.13p-1.10p. The operator of Gravelotte, an emerald mine in South Africa, raises £2.1 million before expenses through a £617,320 subscription from newly appointed Executive Chair Louis Ching, and the issuance of £1.5 million in unsecured convertible loan notes. Ching is appointed to the board as of Thursday with immediate effect, and currently also serves as chair & managing director of PT International Development Corp Ltd. Funds raised will be used to strengthen the company’s cash position, and progress exploration and development at Gravelotte, and at the Curlew emerald mine in Australia. ‘I believe GEMR has enormous potential,’ says Ching. ‘The company has good assets but has historically been underfunded. I look forward to working with the board to unlock this potential and to build long-term value for all shareholders.’ ---------- SMALL-CAP - LOSERS ---------- Gem Diamonds Ltd, down 36% at 4.30p, 12-month range 4.00p-13.84p. The diamond miner in Lesotho and Botswana swings to a pretax loss of $20.0 million for the six months that ended June 30, from $10.5 million in profit the year before. Revenue falls 42% to $45.4 million from $78.0 million, and average price received declines 26% to $1,008 per carat from $1,366. ‘The industry continues to face significant challenges. Sustained pricing pressure, softer demand in key markets, ongoing macroeconomic and geopolitical uncertainty, and tariff uncertainties in respect of India, combine to create difficult trading conditions,’ says Chief Executive Officer Clifford Elphick. ‘H1 2025 production targets were achieved, however, revenue decreased significantly. In response, key decisions to adapt the mine plan to reduce costs, necessitated the unfortunate retrenchment of 240 employees at Letseng. While deeply regrettable, these actions position Letseng to operate sustainably.’ The firm’s production and cost forecasts for 2025 remain in line with previous guidance, which forecast 84,000 to 87,000 carats sold during the year and total capital expenditure between $4.0 million and $5.0 million. ---------- Eurocell PLC, down 5.3% at 127.84p, 12-month range 122.50p-191.00p. The manufacturer, recycler and distributor of window, door and roofline PVC products reports pretax profit of £3.8 million for the six months that ended June 30, falling 50% from £7.6 million a year prior. This reflects £4.0 million in non-underlying costs related to strategic IT project expenses, restructuring and acquisition costs, the company explains, against £400,000 a year earlier. Revenue, on the other hand, grows 10% to £193.2 million from £175.7 million. Eurocell declares an interim dividend of 2.3 pence per share, up 4.5% on-year from 2.2p. ‘Our first half financial performance was resilient, in the context of trading conditions that remain subdued. We delivered an increase of 9% in adjusted operating profit despite lower organic volumes, thanks to a strong contribution from Alunet and effective cost control. Our cash generation was solid and our financial position remains strong,’ says Chief Executive Officer Darren Waters. Eurocell acquired Alunet Ltd in March, which is a business comprised of aluminium systems house Alunet Sytems, timber door manufacturer Comp Door, aluminium garage door supplied JDUK and aluminium roller shutter garage door manufacturer UK Doors (Midlands). CEO Waters adds: ‘While demand in our core RMI market remains sluggish, we have seen some modest early signs of an improving picture in new build housing, albeit from a very low base. We are therefore continuing to focus on cost reduction and operational improvements to drive efficiency and mitigate against the impact of delayed market recovery. Whilst the full year outlook is below our previous expectations, the medium and long-term growth prospects for the UK construction market remain attractive.’ ---------- Copyright 2025 Alliance News Ltd. All Rights Reserved.
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