Heading towards the close and the AIM All Share is slightly offside with trade talk woes and concern over falling UK GDP both taking a toll on sentiment. Approaching 4pm and the index was down just over two points, at 766.52.
- Karelian Diamonds +150%
- Phoenix Copper +42%
- Earnz +30%
- Tasty -24%
- Red Rock Resources -21%
Karelian Diamonds LON:KDR was by far the best performer on the day heading into the close with the price up 150%. That comes off the back of this morning’s news that a mining license has now been awarded for a Finnish diamond deposit. Whilst the gains are notable, this does however only takes the stock back to where it started the year.
Phoenix Copper LON:PXC was in second place at copy time, up 42%. That move is in response to news that they had reached agreement with an investor who will purchase $75m of the company’s bonds, which marks the culmination of talks which have been ongoing for some months.
Energy company Earnz [LON:EARN] has the notable mention, up 30% following news that it had completed a placing at a premium.
Tasty LON:TAST was the biggest faller, off 24% in what looks like fairly lumpy trade. There’s no news out and the move does look a bit aggressive to be a result of a worsening consumer economy but is something coming – or is this just a liquidity challenge?
Red Rock Resources LON:RRR sat 21% lower at the close, having provided an update on arbitration proceedings. Whilst these appear to be moving in the right direction, investors could be excused for having expected to see more progress and is there a subtext here that a funding round is looming?
