Despite having spent the vast majority of the day in negative territory, London’s AIM Index has pushed higher in the final few minutes to trade to close up just over two points higher at 1174.54.
- Clear Leisure up 56%
- Online Blockchain 54%
- Ormonde Mining down 30%
- Vast Resources down 20%
- Remote Monitored Systems up 24%
Clear Leisure [LON:CLP] found itself at the top of the table, adding 56%. The £3m minnow appears to have jumped on speculation around bitcoin with peer group companies having also found favour. There’s no hard news yet, though.
Online Blockchain [LON:OBC] put in another stellar performance, adding 54%, again with the renewed crypto frenzy fuelling the upside here. Shares are up five-fold since before Christmas and further support for Bitcoin could see gains extended here, too.
A notable mention for Remote Monitored Systems [LON:RMS] whose shares jumped again today, although the company published a note mid-morning advising there was nothing behind the rally. A note earlier in the week advised that production kit was due to arrive from mainland Europe tomorrow – confirmation of that could lend further support running into the weekend.
Ormonde Mining [LON:ORM] was the day’s biggest faller, off 30% after news this morning that the AGM was being delayed. The company is working with its major shareholder to gain approval for passing some specific resolutions and the note adds that “while negotiations, diligence and legal structuring of a potential transaction are well advanced, progress to completion has been slower than hoped for.” There’s also concern that a deal can actually be concluded, but the company appears reasonably well funded and the stock still sits well above the levels seen late last year.
Vast Resources [LON:VAST] saw its share price rocked off the back of a corporate update early in the afternoon session, with the stock closing some 20% lower. Bankers have been unable to approve funding ahead of a corporate restructuring. The company remains well funded and the note suggests this is little more than a procedural point, so given the 4+% spread quoted, this dip lower may yet prove to be of little lasting concern.