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AIM WINNERS & LOSERS: Phoenix Copper CEO seeks to calm investors

ALN

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

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AIM - WINNERS

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Mothercare PLC, up 18% at 2.16 pence, 12-month range 1.81p-4.10p. Shares in the Watford, England-based retailer which specialises in products for newborn babies and children rise after Lombard Odier Asset Management discloses it holds a 23.21% stake in Mothercare as of Friday. The holding is down from 24.94% previously, according to the filing.

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Switch Metals PLC, up 25% at 15.00p, 12-month range 7.00p-15.00p. Identifies additional tantalum-rich alluvial targets at its Issia project in Ivory Coast following completion of a targeted alluvial work programme. Switch Metals says 28 priority drainage basins exceed a technical cut-off grade, covering around 7 square kilometres of prospective ground, adding near-surface, free-dig resource growth potential alongside work already underway toward a maiden mineral resource estimate. The company says the shallow alluvial targets are amenable to low-cost mining and gravity processing, and that follow-up work will include systematic pitting and bulk sampling to support early-stage cashflow development planning.

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Phoenix Copper Ltd, up 13% at 1.16p, 12-month range 0.80p-6.50p. Shares pare back losses from Monday after the company issues a statement from its chief executive following a sharp sell-off triggered by governance concerns. On Monday, Phoenix suspends its executive chair Marcus Edwards-Jones and chief financial officer Richard Wilkins with immediate effect as the board launches an investigation into their conduct and historic payments made to former adviser Lloyd Edwards-Jones SAS. The company puts interim financial oversight in place, seeks an interim chief financial officer and outsources the company secretary role during the review. Phoenix says it has limited working capital but expects sufficient cash until early in the second quarter of 2026, and says it is considering short- and longer-term funding options, with talks with Riverfort over a short-term loan facility ongoing. On Tuesday, Chief Executive Officer Ryan McDermott says the board and advisers are progressing the investigations and that the company’s core assets and strategy remain unchanged, with work on the Empire project continuing. McDermott says ‘I recognise that our announcement [on Monday] has created uncertainty for shareholders. I understand your concerns following recent developments and would like to assure shareholders that the board and management team, with input from our professional advisors, are taking all the necessary steps to progress the investigations we referred to yesterday as thoroughly and efficiently as possible.’

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AIM - LOSERS

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Orosur Mining Inc, down 18% at 27.90p, 12-month range 7.05p-41.00p. Reports a maiden mineral resource estimate at the Pepas deposit within its Anza project in Colombia. Orosur says the estimate comprises 1.14 million tonnes at 5.46 grams per tonne gold in the indicated category for 201,000 ounces of contained gold, with an additional inferred resource of 0.19 million tonnes at 2.99 grams per tonne gold for 18,000 ounces. The company says it now moves Pepas into the economic study and permitting stage. CEO Brad George says: ‘The company’s decision to focus its efforts on moving the Pepas deposit toward an MRE has been justified with this result.’

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Tekcapital PLC, down 15% at 8.80p, 12-month range 6.00p-13.00p. Conditionally raises £1.5 million through a placing of 18.8 million shares at 8 pence each. The intellectual property investment group says the proceeds are to strengthen the balance sheet and support its investment strategy, including providing additional financial flexibility across its portfolio.

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