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AIM WINNERS & LOSERS: Eqtec down on share issue for corporate ‘reset’

ALN

The following stocks are the leading risers and fallers on AIM on Thursday.

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AIM - WINNERS

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Great Western Mining Corp PLC, up 16% at 1.80 pence, 12-month range 0.85p-3.60p. Confirms significant tungsten mineralisation at its Defender project in the US state of Nevada, following machine-cut channel sampling. The explorer says two channels cut in December return tungsten grades of up to 0.66% WO3, with broader intercepts of 6 metres at 0.17% WO3 and 16 metres at 0.30% WO3. The company also notes very low levels of potential penalty elements for processing, alongside silver mineralisation in one channel. Chair Brian Hall says: ‘In a rapidly changing world in which tungsten has become a critical metal for defence and industrial use, currently in short supply in the West, the confirmation of significant mineralisation at Defender is a very exciting development for Great Western. This initial channel sampling operation has confirmed the presence of tungsten, which was previously indicated by soil and rock chip sampling last year, with results firmly at the upper end of our expectations.’

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AIM - LOSERS

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Eqtec PLC, down 20% at 0.072p, 12-month range 0.04p-0.80p. Announces a comprehensive corporate ‘reset’, combining a balance-sheet restructuring, equity fundraise and a strategic pivot into copper-gold exploration assets in Australia. Eqtec says it signs an agreement to restructure £5.8 million of existing debt and conditionally raises £1.3 million through a placing at 0.035 pence per share. The company adds that the equity fundraise forms part of a broader plan to stabilise its finances and reposition the business. Alongside the reset, Eqtec agrees to acquire a 99% interest in the Green Rock copper-gold project in Australia and secures an option to acquire up to 99% of the Peak Hill projects. The company says the acquisitions provide exposure to prospective copper-gold assets and align with its revised strategic focus. Eqtec states that the debt restructuring, share placing, and proposed acquisitions together underpin its plans to reset the group and create a more sustainable platform for future growth.

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Arkle Resources PLC, down 11% at 0.47p, 12-month range 0.20p-0.64p. Raises £1.7 million through a placing and subscription at 0.4 pence per share and agrees to acquire an 85% interest in Namibia Uranium Pty Ltd for £2.0 million. The exploration company with gold, zinc and lithium assets in Ireland, Botswana and Zimbabwe says the fundraise will support the acquisition and provide additional working capital, as it expands its exposure to uranium assets in Namibia. Chair John Teeling says: ‘The fundraise was significantly oversubscribed which is testament to the quality of these exploration assets, the recognition of Namibia as a tier-one uranium jurisdiction and the exciting fundamentals of the uranium market.’

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