AIM round-up: Afritin Mining, Amur Minerals, Braveheart

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28th March 2022
Tony Cross
Braveheart Investment [LON:BRH], Amur Minerals

Another day of not doing much for the broad AIM Index, which started the week advancing a few points, but gains proved difficult to sustain and the market closed just a fraction of a point higher at 1036.52.

Afritin Mining +18%
Amur Minerals +17%
Braveheart +17%
Tandem Group -19%
RTC Group -19%

Afritin Mining [LON:ATM] topped the board, although that’s in an admittedly quiet day of trade. Shares advanced 18% by the bell, with a tweet by the CEO evidently helping boost sentiment and reiterating the company’s imminent move into Lithium as demand grows.

Amur Minerals [LON:AMC] also fared well, adding 17% by the bell. The stock appears to be finding support off the back of speculation that downside pressures seen off the back of its Russian focus may now be abating, although trade was rather lumpy and the closing spread accounted for most of the upside.

A notable mention for Braveheart Group [LON:BRH] which added 17% on the day. Again, trade was remarkably thin and although a PDMR release was published this morning, with the spread accounting for most of the gains, it’s difficult to read much into this.

Tadem Group [LON:TND] was the day’s worst performer, off 19% at the close. Final results were issued this morning, driving a significant uptick in traded volumes. The historical performance was strong, but the company notes concerns over its ability to deliver against the current macroeconomic backdrop, leading to a slow start to 2022 – sales are down 43% on the same period a year ago, although these were tough comparatives.

RTC Group [LON:RTC] also struggled today, shedding just under 19%. Again, full year results were the catalyst, but unremarkable levels of trade and a wide spread can be used to explain away much of the change here. However there’s a generally downbeat theme to the note too – it’s not exactly a “kitchen sink” job, but with no dividend payable and a costly structural overhaul being incurred in terms of Network Rail contracts, there’s a distinct suggestion that in the words of 90’s pop act D:Ream, things can only get better.

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This article is not investment advice. Investors should do their own research or consult a professional advisor.

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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