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The AIM Index suffered another day of declines, although once again outperformed its blue chip rival, closing almost ten points lower at 971.49

  • Alien Metals up 50%
  • GCM Resources up 48%
  • Transglobe Energy down 16%
  • Active Energy down 14%
  • Orosur Mining up 23%

Alien Metals [LON:UFO] posted a second day of solid gains, topping the board on Thursday by adding a further 50%. Again there’s no fundamental news out to support the move, but speculation continues to build that a positive update will be released in the coming days.

Another miner, GCM Resources [LON:GCM], also fared well in Thursday’s trade, adding 48% after a framework agreement was reached with two Chinese companies. In short this ensures funding for the coal extraction project can be delivered at market rates.

Transglobe Energy [LON:TGL] fell 16%, landing itself at the foot of the table on the day. However with no real volume in the stock, the move can be accounted for by the wide spread which is currently being quoted.

Renewables firm Active Energy [LON:AEG] had a difficult time on Thursday, losing 14% despite some solid buying interest in the stock. There appears to be some concern with the green energy sector in general right now, amidst claims that subsidies are too generous and the UK is also at risk of power outages in the coming days as wind speeds slump, however given the lop-sided price action here, this will be worth watching in the near term.

A notable mention for Orosur Mining [LON:OMI], which tacked on a further 23%, meaning the company’s valuation has appreciated six-fold since the end of last month. Full year results were released ahead of the opening bell and investors clearly found further cause for cheer here.

Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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