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AIM round-up: Sound Energy, Mycelx Technology, Enwell Energy

AIM round-up: Sound Energy, Mycelx Technology, Enwell Energy
  • Sound Energy +42%
  • Mycelx Technology +30%
  • Enwell Energy -22%
  • Pathfinder Minerals -21%

London’s AIM Index is continuing to extend its positive run since the start of the new trading year, although two consecutive sessions of gains hardly offers much cause for celebration.

By the closing bell on Wednesday the junior index sat almost five points higher at 843.35.

Sound Energy LON:SOU was the day’s best performer, up 42% by the bell. There’s no formal news release but yesterday the CEO confirmed the development of two new projects in Morocco to a trade website. That resulted in sharply elevated levels of trade on Wednesday and even taking into account the 12.5% spread the uptick is notable.


Mycelx LON:MYX was in second place, up 30% at the close. Trade appears to have been quite lumpy but there’s no official news statement out to support the gains.

Enwell Energy LON:ENW was the biggest faller, off some 23% at 4.30pm. The company this morning noted that new legislation relating to the natural resources sector in Ukraine could impact the performance of extraction licenses in the country. This is however early days and there’s more to understand here.

Pathfinder Minerals [LON:PFP} slipped 21% off the back of news this morning that a company looking at acquiring part of its business has been given more time to complete due diligence.

The Option Agreement includes the assignment of the rights to bring a claim against the Government of Mozambique under a 2004 Mozambique-United Kingdom Bilateral Investment Treaty, with previous suggestions being that any successful settlement would be worth hundreds of millions of dollars, if not more.

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