The AIM index started the week on the back foot, with gains for Sterling weighing on stocks across the board. The junior market settled over 13 points lower at 1200.63
- Clear Leisure up 92%
- Catenae Innovation up 71%
- Orosur Mining down 25%
- Premier African Minerals down 21%
- Braveheart up 11%
Clear Leisure [LON:CLP] topped the board today, with the shares almost doubling in price following that news of a £1m capital injection which was announced before the opening bell. The company wants to pursue crypto coin mining opportunities – something which remains resource intensive – but also has the potential to win a series of litigation cases. Definitely a share to watch, although the price is now up 10x since Christmas.
Catenae Innovation [LON:CTEA] added 71%, with gains evidently driven by news that the company has been invited to participate in the UK Government’s development of a digital identity policy. The company also added that it is working with Public Health Scotland on the automated transfer of COVID-19 test results into their COVID tracking database.
Orosur Mining [LON:OMI] found itself at the bottom of the board in the week’s first session, shedding 25% following the release of an update on its Colombian project. There’s a lot of data and geological narrative here, but ultimately the tone appeared to underwhelm investors. The company understands more about what’s down there, but it hasn’t quite got the success it keeps digging for just yet.
Premier African Minerals [LON:PREM] saw its shares struggle today, losing 21% by the close. The stock has fared well in recent days, but news this morning of a fresh capital raise in the US will leave investors diluted and appears to have knocked sentiment. The fact the company is now looking state-side for cash may also be seen as something of a red flag.
A notable mention for Braveheart Investment Group [LON:BRH] whose shares closed up another 11% on Monday. The bullish tone from government over reopening the economy and using rapid COVID tests to support that continues to bolster confidence in the stock. One of their portfolio companies – Paraytec – could be well positioned to benefit here and the gains could well be in anticipation of that. The scale of the government initiative is however likely to require a raft of suppliers.