The AIM Index spent Tuesday’s session trading in a narrow range, finishing less than one point higher at 859.4.
- Safestay +30%
- Eqtec +20%
- Abingdon Health +15%
- Baron Oil -20%
- China Non Ferrous Gold -18%
Hostel operator Safestay LON:SSTY topped the board in what was ultimately a rather subdued session, advancing 30%. A trading statement this morning noted that revenues were ahead of market expectations, marking a return to near-normal conditions post-pandemic and adding that further upside potential existed. The group is sitting on £4.8m worth of cash following two property sales.
Eqtec LON:EQT added 20% on the day. There’s no formal news but elevated levels of trading were seen during the session. A previously signed heads of terms agreement with other parties did have today noted as a long stop date, so this could trigger some payout.
Abingdon Health LON:ABDX advanced 15%, again with a trading update being published. The company is projecting aggressive revenue growth as it transitions away from its COVID legacy and notes that it has £4.4m cash on hand. Management believe the company will be cashflow positive in FY24.
- Small Cap Stocks: Hummingbird, LPA Group, Cadence Minerals
- Small Cap Stocks: Symphony Environmental, Safestay, Xeros Tech
- Small Cap Stocks: Rockfire, Proteome, Ukrproduce
Baron Oil LON:BOIL was the biggest faller, off by a comparatively modest 20% on the day. The company released its competent persons statement on a drilling site off Timor Leste and evidently this failed to impress investors. The stock has now given back gains accrued mid-month.
China non-Ferrous Gold LON:CNG was one of the day’s bigger fallers, off around 18% in late trade although made something of a recovery in the closing auction helped along by sitting on a very wide spread. The stock struggled last week off the back of news that the impact of heavy snowfall would disrupt production for as long as a month. There’s no update out and trade was distinctly lumpy – will the disruption prove even worse?
