London’s AIM Index has tracked other markets lower during Thursday’s session although losses are less pronounced than those which have been seen elsewhere. At the closing bell the junior bourse was off just over six points at 852.79.
- Kodal Minerals +53%
- Morses Club +37%
- Aeorema Communications +18%
- Maintel Holdings -19%
- Scotgold Resources -16%
Kodal Minerals LON:KOD topped the board, adding 53% by the close. This morning the company announced that it had secured £82m of funding to secure the development of a lithium project in Mali. Whilst there’s a degree of dilution here, investors have been quick to cheer the news.
Morses Club LON:MCL, the doorstep loan provider, saw its share price jump 37% on the day although that was against a wide spread as the company moves towards a delisting next month.
Aeorema Communications LON:AEO gets the day’s notable mention, up 18% after the company announced a major contract win. Trade in the £8m company has however been quite thin during the session, the spread is in excess of 10% and the closing price is around 10% off session highs. In the absence of further details of the deal, building on the gains may be challenging.
- SmallCap Stocks: Incathera, Orosur Mining, Leeds Group
- Small Cap Stocks: Roadside Real Estate, Kodal Minerals, Naked Wine
- Small Cap Stocks: Beowulf Mining, Smartspace Software, Maintel
Maintel Holdings LON:MAI found itself at the foot of the table, although losses were a relatively modest 19%. This morning’s trading update noted that Q4 EBITDA would be negatively impacted by unexpected costs. Despite a solid order book, investors took the opportunity to sell once again, with the stock now down by more than two thirds over the last 12 months.
Scotgold Resources LON:SGZ finished the day 16% lower following Q4 and full year numbers. Factors did lead to a reduction in production ahead of the year end but these seem comparatively limited, with sequencing rather than lost output the key driver here. However this has caused working capital issues and with just £350k in cash, additional funding will be needed. You can listen to our podcast with Scotgold Resources CEO Phil Day here.
