London’s AIM Index put in another solid session, adding just over six points across Thursday to settle at 1038.03
- Arkle Resources up 32%
- Actual Experience up 21%
- Ironveld down 42%
- Remote Monitored Systems down 24%
- ShoeZone down 9%
Arkle Resources [LON:ARK] jumped 32% on Thursday, finding itself at the top of the board. Late this morning the company announced that it had discovered a gold bearing vein at its wholly owned Mine River project in Ireland, with shares beginning their ascent in response to this. The rally only pushes the company to a £4m market cap however and there’s speculation that more good news could be emerging soon. Volumes were also abnormally high.
Actual Experience [LON:ACT] also put in a good day, adding 21% off the back of news that it has received a significant order from a channel partner for a customer who is a leading energy global supplier. The company is bullish about further similar orders now emerging, although the gains here may be overstated given the stock closed quoting a 9% spread.
Ironveld [LON:IRON] was the biggest faller, off 42% following a heavily discounted funding round. New shares were offered at a 53.8% discount, something which certainly has the potential to rattle investors
Remote Monitored Systems [LON:RMS] is back on the list after another down day. Shares slid a further 25% after an update on the delivery schedule for its new production kit. This should have been delivered and installed around now, but the update advises that commercial production has been pushed back to January. With vaccine roll out plans well underway, the opportunity for quick wins here is diminishing, although as we have noted before there’s likely to be extended interest in antiviral materials going forward.
A notable mention for Shoe Zone [LON:SHOE] whose shares slipped 9% today. The company provided a date for final results but also took the opportunity to caution that revenues for the current year will be down by at least £12m as a result of the current round of lockdowns. Despite hopes that shoe retailers may be one of the few that really do need a physical presence to survive, investors were clearly spooked by the news.