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AIM round-up: Europa Metals, N4 Pharma, Omega Diagnostics


London’s AIM Index resumed its downward trajectory today, shedding almost five points by the closing bell to sit at 815.04.

  • Europa Metals +30%
  • N4 Pharma +23%
  • Omega Diagnostics +22%
  • PCF Group -33%
  • Serinus Energy -25%

Europa Metals LON:EUZ added 30% on the day following the release of news this morning that a letter of intent has been signed regarding a Joint Venture arrangement. This would see $4m invested in the Northern Spanish project over the next three years in exchange for 51% of the holding, with the option for a further 29% to be bought for an additional $2m at a later date.

N4 Pharma LON:N4P was the day’s second biggest riser, adding 23% by the bell. An update issued yesterday morning highlighted positive test outcomes from a new therapy the company is developing and drove some additional volume in the stock but this failed to deliver much of a price impact. Is the market now catching up or is more good news imminent?

Omega Diagnostics LON:ODX gets a notable mention, advancing 22% in the wake of a performance evaluation by the WHO on its rapid testing kit. The company has already agreed the disposal of the relevant business unit but assuming clinical trials are now successful, this will see an additional payment being made of up to £4m. Given the market cap is just £7m, that’s a number of consequence.

PCF Group LON:PCF found itself at the foot of the board, off 33% at 4.30pm. A market update issued this morning advised that the company would suspend all new lending operations, given its challenges in raising fresh capital and the ongoing market uncertainty. Management have also committed to accelerate a review process in a bid to reduce costs.

Serinus Energy LON:SENX was in second to last place, down 25% at the bell following a couple of project updates this morning. A drilling site in Romania has returned results which mean that commercialisation of the project isn’t viable. That overshadowed more upbeat news from Tunisia, where progress is now being made on wells in Sabria which collectively are expected to produce almost 3,000 barrels of oil equivalent per day.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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