London’s AIM All Share fell materially in early trade on Thursday and failed to find any cause for cheer as the session progressed. It seems that last night’s sell-off on Wall Street set the tone and despite the main board faring somewhat better, the junior index reached the close down more than eight points at 774.25.
- Wishbone Group +37%
- Nativo Resources +22%
- Arecor Therapeutics +19%
- Proteome Sciences -44%
- Bradda Head Lithium -28%
Wishbone Group LON:WSBN was top of the table, up 37% following news that drilling at a company project in Australia had found strong mineralisation, in what management deemed encouraging early results. There’s more work to be done here but the tone is certainly upbeat.
Nativo Resources [LON:NTVO] added 22% following news published just before the close last night that the company had completed a funding round. This served to extend the gains we commented on last night.
- AIM Market Roundup: IQE, Nativo Resources, MicroSalt
- AIM Market Roundup: Catenai, Westmount Energy, Nativo Resources
Arecor Therapeutics LON:AREC gets the notable mention, closing up 19%. The company published interim results this morning along with news of a co-development agreement, which extends the company’s cash runway to H1 2027.
Proteome Sciences LON:PRM slipped 44% by the bell, following the publication of interim results. Revenues were around 15% lower, although gross profitability was up and sales costs had also fallen. US budget cuts have hit many companies in the life sciences sector including Proteome but with strong demand now in evidence, is the dip overdone?
- AIM Market Roundup: Genip, Proteome Sciences, Cadence Minerals
- AIM Market Roundup: Genincode, Proteome Sciences, Caspian Sunrise
Bradda Head Lithium LON:BHL was in second to last place, down 28%. The company this morning announced it had secured $500k of unsecured financing at 12% interest in order to retain its good standing and fund working capital requirements. The company is looking to repay this debt with an equity raise but today’s sell-off reverses the rally seen by the stock earlier this month.
