The AIM Index managed to accrue further gains on Thursday, although the pace has certainly decelerated. The market settled just over four points higher at 978.97.
- Attis Oil & Gas up 96%
- European Metals Holdings up 31%
- Bezant Resources up 30%
- Rockfire Resources down 18%
- Serinus Energy down 14%
Attis Oil & Gas LON:AOGL, which slipped 15% during Wednesday’s session, more than rebounded on Thursday with the share price adding as much as 150% in early trade before closing with a more modest 96% uptick. The company announced an amalgamation with Helium One which will see Attis shareholders move into the new company when it plans to list at the start of next month. Management claim this will be great news for shareholders, with the world currently facing a helium supply crisis.
European Metals Holdings [LON:EMH] also fared well on Thursday, adding 31% across the day. There’s no official news here although twitter chat highlighted by David Lenigas overnight pointed towards suggestions that this could be a good target for Tesla. The growing prospect of Joe Biden winning the race for The White House would also bode well for the sector.
If #Tesla buys European Metals its game over in Europe https://t.co/f2UnjRf8Tq via @YouTube. Maybe this is why @CzechLithium European Metals is having a good run. #EMH @keith_coughlan
— David Lenigas (@DavidLenigas) November 5, 2020
Thursday’s biggest faller was Rockfire Resources LON:ROCK, falling 18% after a drilling update appeared to fall short of investor expectations. Headline sentiment was positive but ultimately this is an £8m company and closed on a spread around 6%, so could be one to watch in the longer term.
Also losing ground was Serinus Energy LON:SENX, although with no news and no trade in the stock, the drop – down 14% – needs to be dismissed on the £8m cap company which again is quoted on a weighty 6% spread.
A notable mention for Bezant Resources LON:BZT who have been in the column previously. Shares rose 30% on Thursday, a far cry from the 90% seen just a few weeks ago, but precious metals and other alternate stores of value are finding support as investors look to hedge against yet more government debt. Worth caveating the move higher against a 7% spread and a £9m market cap.
