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AIM round-up: Tertiary Minerals, 7Digital, MC Mining

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The rout for London’s AIM market continued today with the index shedding a further eight points by the bell to settle at 813.43 and briefly testing territory below the 800 level for the first time since May 2020.

  • Tertiary Minerals +39%
  • 7Digital +35%
  • MC Mining +30%
  • Glantus Holdings -59%
  • Rambler Metals -20%

Tertiary Minerals LON:TYM was at the top of the board, up some 45% on the day. The company gave an exploration update mid-session yesterday and this seems to be something of a delayed reaction to the news. The share price has however more than doubled since the collaboration agreement was signed two weeks ago.

7Digital LON:7DIG found itself in second place, up some 35% at the bell following the release of interim results. Revenues and margins both improved, whilst losses shrank to just £200,000. Cash is running thin, but a shareholder loan has been secured and income growth is expected to be maintained.

A notable mention for MC Mining [LON:MCM] which also had a good session, adding 30%. A fully underwritten rights issue was announced yesterday and having tested lows around the 14p mark off the back of the news, confidence over what this means for the future has driven shares to 28p, admittedly in rather lumpy trade.

Interim results left Glantus Holdings LON:GLAN as the day’s worst performer by a wide margin, off 58% at the bell. Positive news of revenue and margin improvement was overshadowed by the message that a relocation to Costa Rica was proving more costly than had been expected whilst macroeconomic headwinds are also expected to take a toll. Investors were warned that revenue for the full year will be significantly below market expectations.

Rambler Metals LON:RMM was the second biggest faller, off 20% and extending the losses accrued yesterday following the release of interim results. The closing spread does however account for much of those losses.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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