(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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AIM - WINNERS

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Strategic Minerals PLC, up 70% at 0.17 pence, 12-month range 0.08p-0.4p. The miner with projects in New Mexico, South Australia and the UK reports the return of an unnamed major client, with a purchase order for 30,000 tonnes in 2024. In 2023, the firm's sales volumes at Cobre dropped by around 50% year-on-year, in the absence of the client. However, in December, the client asked for pricing on a significant order which was 50% higher than previous years, before the purchase order of 30,000 tonnes was agreed. Strategic Minerals says it began shipments against the order on Tuesday. "Additionally, over the past four months, discussions have been held with a potential new client that is looking for large volume shipments. They have purchased around 100 tonnes of ore for calibrating their machinery to ensure that the larger order would fulfil their requirements," the firm adds. It will update if it signs a contract with the potential new client.

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Reabold Resources PLC, up 7.4% at 0.0967p, 12-month range 0.08p-0.25p. The investor in "low-risk, near-term" oil and gas projects says the final tranche of payment from Shell UK Ltd in relation to the sale of Corallian Energy Ltd will be distributed to former Corallian shareholders over the coming days. This follows the grant of development approval for the Victory gas field. Reabold will receive GBP4.4 million from Shell, having already received GBP8.3 million. It will use proceeds to advance development of assets within its portfolio, and will distribute excess cash to shareholders. "This represents a significant moment in the delivery of the Reabold strategy to identify, fund and monetise underappreciated, but strategically important assets," says Co-CEO Stephen Williams.

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AIM - LOSERS

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Bango PLC, down 29% at 130p, 12-month range 120p-269.8p. The Cambridge, UK-based mobile commerce company warns full-year adjusted earnings before interest, tax, depreciation and amortisation will be below analyst expectations at USD5 to USD6 million, compared to 2022's USD5.0 million. It blames lower-than-expected revenue recognition due to customer launch timing, USD2 million in unplanned cost of sales related to a legacy business of Docomo Digital, and a foreign exchange hit of USD1 million from intercompany loans inherited via the DDL acquisition. "Looking ahead, we expect to continue delivering strong revenue growth in 2024. Operating margins are expected to trend upwards in FY24 driven by the full decommissioning of the Docomo Digital platform," says CEO Paul Larbey.

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By Elizabeth Winter, Alliance News deputy news editor

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