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AIM round-up: Arc Minerals, Shanta Gold, Digitalbox


London’s AIM Index has posted another day of gains, adding almost six points by the bell to re-take the 1100 level and tracking other global markets higher. The index reached the bell at 1100.57 but does still remain around 10% lower on the year to date.

  • Arc Minerals +24%
  • Shanta Gold +20%
  • Joules Group -46%
  • Falcon Oil & Gas -27%
  • Digitalbox +16%

Arc Minerals LON:ARCM was the day’s biggest riser, adding a comparatively modest 24% as the company continues to rebuild those losses it accrued at the end of last year. Volumes certainly look to have been elevated during the session, although there’s no news out to support today’s move.

Shanta Gold LON:SHG also had a good session, adding 20% by the bell. A year end statement this morning included an upgrade of reserve estimates for a mine in Tanzania, and there was also a note promising revised numbers on an operation in West Kenya, too. Whilst the gains were notable however, they need to be taken in the context of the fact the share price took a beating in early December and continued to track lower from there.

Joules Group LON:JOUL was the day’s worst performer with this morning’s trading update giving investors little cause for cheer. Performance over the last nine weeks has been below expectations as COVID fears keep shoppers away, whilst the company is also struggling with global supply chain issues. Shares lost 46%, coming close to the March 2020 all time lows as a result.

Falcon Oil and Gas [LON:FOG] also struggled, reversing 27% on the day. Shares have been finding favour for the last few weeks, rising sharply ahead of the weekend break, but that momentum now appears to be exhausted. There may have been some read-across from other oil stocks here, but after a brisk day’s trade, the froth has certainly been knocked off this one.

A notable mention for Digitalbox LON:DBOX which landed in third place today, up 16%. That adds to the 30% tacked on by the business yesterday which looks like it may be going through some kind of rerate. The low market cap could also leave this as a potential bid target, so it will be interesting to watch just how far this rally can go as shares continue to forge a path in uncharted territory.

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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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