London’s AIM Index managed to shake off the woes from earlier in the week, adding almost five points to finish at 872.52. That statement from the Fed this evening will however likely be instrumental in determining where the junior market heads tomorrow.
- Pathfinder Minerals +35%
- Gensource Potash +32%
- Made Tech Group +22%
- Orcadian Energy -27%
- Genedrive -19%
Pathfinder Minerals LON:PFP was at the top of the board on Wednesday, up some 35%. The company issued two updates this morning, the first confirming a placing and the second offering an update on a bilateral treaty claim. It’s this latter point which seems to be the lucrative one as the necessary sale & purchase agreement would generate £2m in cash, with the prospect of further payouts in years to come – but without the company having to meet all legal fees.
Gensource Potash [LON:GSP] was in second place, up 32% at the bell. Only a handful of chunky trades were made this morning and a lack of available stock pushed the spread out to close on 20%, notable for a company worth almost £80m. There’s no news here for now.
Made Tech Group LON:MTEC gets the notable mention, up 22% on the day. This morning’s trading update noted H1 revenues of £20m, but added that in recent weeks a further £27m worth of work had been won across three government departments.
Orcadian Energy LON:ORCA slipped 27% on the day, reflecting a discounted placing which was oversubscribed this morning. Proceeds will be spent on license fees and general working capital.
- Small Cap Stocks: Genedrive, Tern, Conroy Gold
- Small Cap Stocks: UK Oil & Gas, Jaywing, Orcadian Energy, Hermes Pacific
- Small Cap Stocks: Genedrive, Deltic Energy, UK Oil & Gas
Genedrive LON:GDR was the second biggest faller, off 19% at the bell. Shares spiked to above 30p last week but now trade well over 30% lower and there appears to be some concern over how long the company can hold out before returning with cap in hand to investors.
