WINNERS & LOSERS: Kefi sinks on Tulu Kapi halt; TheWorks ups guidance

(Alliance News) - The following are the leading risers and fallers among London Main Market small-cap and AIM stocks on Monday.

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Main Market small-cap winners

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Ferrexpo PLC, up 39% at 39.74 pence, shares resume trading following equity raise

Residential Secure Income PLC, up 7.7% at 7.8p

Hostelworld Group PLC, up 6.6% at 113p

World Chess PLC, up 6.3% at 0.425p

BSF Enterprise PLC, up 6.1% at 1.05p

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Main Market small-cap losers

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Macau Property Opportunities Fund Ltd, down 9.3% at 4.65p

First Class Metals PLC, down 7.7% at 3p

Total Graphite PLC, down 7.2% at 0.9p

Aminex PLC, down 6.1% at 2.3p

Kosmos Energy Ltd, down 5.8% at 194p

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AIM winners

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MedPal AI PLC, up 19% at 6.2p, hails strong August trading

United Oil & Gas PLC, up 15% at 0.195p, names Donal Meehan, who has upstream experience at Exxon Mobil Corp, as new operating chief

Mothercare PLC, up 14% at 0.8025p

Proservice Building Services Marketplace PLC, up 12% at 2.37p

Harvest Minerals Ltd, up 11% at 0.25p

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AIM losers

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Kefi Gold & Copper PLC, down 41% at 0.6975p, suspends Tulu Kapi activity

Kropz PLC, down 39% at 0.55p, stops production amid restructuring process

Futura Medical PLC, down 19% at 0.225p, raises GBP200,000 in retail share offer, above initially planned GBP150,000

Strip Tinning Holdings PLC, down 18% at 26.5p

Tern PLC, down 17% at 1p

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Small-cap and AIM movers in focus:

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Kefi Gold & Copper, down 41% at 0.6975p, 12-month range 0.65p-2.07p. The gold and copper exploration and development company reports a "serious security incident resulting in multiple fatalities" at the Tulu Kapi mine in Ethiopia. "The safety and wellbeing of the company's employees, contractors and surrounding communities is the company's highest priority. Accordingly, the company has immediately suspended project development activities while it engages with relevant community representatives, Ethiopian government authorities, and security stakeholders to determine the appropriate conditions for a safe and orderly resumption of activities," Kefi says. It will not resume development activities until "appropriate measures have been established". It says it is too soon to assess how the suspension affects the project development timetable.

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Kropz, down 39% at 0.55p, 12-month range 0.42p-1.80p. The phosphate producer and developer kicks off an "urgent operational review" at the Elandsfontein asset. The asset has been unable to achieve operating profitability due to lower realised sales prices and rising costs, blaming the US-Iran war. "These conditions have necessitated an urgent operational review and the implementation of a restructuring process. This operational review and restructuring process will result in a reduction of revenue generated from phosphate rock," Kropz says. During the first five months of the financial year ending March 31, Elandsfontein produced 150,246 tonnes of phosrock with sales of 149,907 tonnes. "Going forward, phosrock revenue is expected to be generated primarily from the sale of existing stock on hand, with no further phosrock production currently planned," Kropz says. Nanophos will be the focus, Kropz adds. While sales volumes of the soft rock will be lower, the strategy aims to "establish a more sustainable operating model with a lower cost base".

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Ferrexpo, up 39% at 39.74p, 12-month range 27.20p-87.23p. Ferrexpo says it has restarted production at its operations in war-torn Ukraine. It suspended production of iron ore products from its mining and pelletising operations in Ukraine last month amid "the ongoing threat of attacks in and around Ukrainian ports". "Given the well documented attacks currently taking place on ports and vessels in the Black Sea, the company intends to focus on exports to customers in Europe," it says. On Friday, Ferrexpo said it raised USD100 million from the sale of new shares. Following Ferrexpo's announcement, its shares resumed trading in London.

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MedPal AI, up 19% at 6.2p, 12-month range 2.00p-11.40p. The digital health and pharmacy group says "August was the month it all came together". It notes New Health achieves revenue of GBP1.8 million during August, its first full month. Chief Executive Officer Jason Drummond says: "More than 16,000 new customers have come to us in a matter of weeks, far exceeding our expectations."

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TheWorks.co.uk PLC, up 5.9% at 92.45p, 12-month range 29.00p-97.00p. The seller of books, stationery and toys says like-for-like sales climb 10% in the first 18 weeks to September 6. It expects adjusted earnings before interest, tax, depreciation and amortisation to be at least GBP16.0 million for the year, ahead of its previous forecast and market expectations, which stood at GBP15.0 million. This would represent a rise from GBP14.0 million in the financial year that ended May 3.

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By Eric Cunha, Alliance News news editor

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