London’s AIM index has reached the closing bell marginally lower, with upbeat earnings data out of the US reinforcing expectations that the Fed may now stay hawkish for longer. At 4.30pm, London’s junior market stood at 812.89, down just over one and a half points on the day.
- Firering Strategic Minerals +24%
- Kodal Minerals +18%
- Atlantic Lithium +17%
- Verditek -15%
- Baron Oil -14%
In a very subdued session, the biggest gainer by 4.30pm was Firering Strategic Minerals [LON:FRG] which added a modest 24% by the bell. The company this morning advised the market of a US$18m investment which will take the company through to the Definitive Feasibility Stage of a Lithium project in Côte d’Ivoire.
Kodal Minerals [LON:KOD] added 18% on the day. There’s no news here but we are seeing a groundswell of support for lithium miners right now amidst chatter that prices of the raw material are poised to increase significantly.
Keeping with a theme, Atlantic Lithium [LON:ALL] gets the notable mention having added 17% following the release of positive drill results from its project in Ghana. Further resource updates are expected either at the end of the year or early in 2023.
Verditek [LON:VDTK] was the day’s worst performer, off 15% at the bell. There’s no fresh news here but the stock has been under a degree of pressure of late, following the recent announcement that a distribution partner was working with a competing provider.
Baron Oil [LON:BOIL] is back on the list too, off 14% on the day. The company has in recent weeks released some positive data over a hydrocarbon site it is exploring near Timor Leste, although this does come with the caveat of needing funding. Without clarity here, some appear ready to book profits.
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