By the closing bell, London’s AIM Index had posted its biggest one-day rise in almost nine months, adding more than 18 points to reach 1198.53.
- Conroy Gold And Natural Resources +32%
- Xeros Technologies +26%
- Beowulf Mining +14%
- Gelion -25%
- Shanta Gold -23%
Conroy Gold And Natural Resources [LON:CGNR] topped the board, adding a further 32% on Tuesday amidst optimism over what the forthcoming EGM and approval of the joint venture may hold for the company. It’s worth noting that trade was fairly lumpy and a lack of stock is driving the spread out, too.
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Xeros Technologies [LON:XSG] rose 26% by the bell. There’s no news out from the company, but the stock has been under sustained pressure in recent weeks. Interest now seems to be picking up and today’s jump essentially recovers all of November’s losses. The company’s focus on building technologies to reduce water usage perhaps puts them at the less obvious end of the eco-friendly investment spectrum. One to watch.
A notable mention for Beowulf Mining [LON:BEM], which we flagged yesterday as having seemingly slipped on the back of profit taking following a steady run of gains last week. Bargain hunters seemingly moved back in quickly today, adding 14% and reversing Monday’s losses as a result.
The recently IPO’d Gelion [LON:GELN] found itself at the foot of the board today, off some 25% by the bell. Shares hurtled higher in the first five days of trading, close on doubling in value so today’s shake out is arguably of little surprise – and perhaps something of a relief for advisers. The 202p closing price is however still more than 30% up on the offer price.
Shanta Gold [LON:SHG] also had a challenging day, losing 23% and finding itself back at levels last seen in April 2020. A mining update released before the bell has seen production guidance for a mine in Tanzania being scaled back by around 10% and that’s coincided with the sell off. With the company well funded and close to debt free however, there are questions as to whether the move here is warranted or sustainable.