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London’s AIM Index managed a brief run above the 1200 line in the week’s first session, but gave up some gains heading into the close. That said, the junior market still managed to reach the bell just over one point ahead, closing at 1193.77.

  • 88E +27%
  • Aura +24%
  • Braveheart Investments -25%
  • GCM Resources -17%
  • Cerillion up 13%

88Energy [LON:88E] is back on our list, having added 27% during the session following the release of another operations update before the market opened this morning. The tone of the note was positive and although not fully comprehensive, investors have been promised a further update in just over a week’s time.

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Aura Energy [LON:AURA] also had a good day, adding 24% by the bell. On Friday, the company’s stock was restored to the market whilst a consolidation also took place, but there’s no news beyond that. Trade today has been limited, with a definite bias towards buys, but the moderately wide spread also needs to be taken into account here.

Braveheart Investments [LON:BRH] was the day’s biggest faller, giving back some of those gains off the back of Friday’s portfolio company update. We’ve flagged this before but Paraytec is working in the COVID detection space and has developed a test which could be transformative. The results still need to be verified but the excitement here drove shares higher into the weekend break. Today’s furtive trading looks as if it may have been a result of some opportunistic profit taking.

GCM Resources [LON:GCM] slipped 17% today after news of a heavily discounted placing was delivered. The fall accounts for that but could be further skewed by the wide spread being quoted, leaving the shares to languish once again around five year lows. It’s also worth noting that the proceeds are seen as being for general working capital purposes, rather than linked to any specific project or acquisition.

A notable mention for Cerillion [LON:CER], the billing and charging CRM provider. We flagged this in our three quick facts this morning after they announced the signing of their largest ever single contract, worth $18.4m with a Latin American company, coupled with a £2.7m extension on a European contract. As a result the company expects to beat the current management forecasts for full year pre-tax profits, which saw shares add 13% by the bell.

Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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