Despite making a positive start to the session, London’s AIM Index struggled to hold those early gains before arriving at the closing bell sitting some two and a half points lower at 1223.51.
- Eurasia Mining +14%
- Intuitive Investments +13%
- Vast Resources -31%
- Oilex -14%
- Quantum Blockchain -12%
Eurasia Mining LON:EUA was the day’s best performer, although gains were limited to a fairly modest 14%. The company provided an update on a possible asset sale this morning which appears to have provided some renewed confidence, although the stock continues to trade below the private placing price achieved back in May of 26.5p.
Intuitive Investments LON:IIG also had a good day, adding 13% by the bell. The company holds a stake in recently floated Light Sciences Technologies which has been finding favour in recent days and a statement this morning confirmed the company had no need to sell down this holding.
Vast Resources LON:VAST was the day’s biggest casualty, extending its recent run of losses off the back of a £1.35m placing which was announced this morning. This is to shore up a shortfall in working capital requirements which resulted off the back of the production delays reported earlier this month. The shares were down 31% at the bell.
Oilex [LON:OEX] also struggled today, slipping 14% in the wake of its quarterly report. Today’s move erodes the gains which have been accrued over the last month, although with a 5% spread and a £12m market cap, the dip could readily be explained by some opportunistic profit taking.
A notable mention for Quantum Blockchain LON:QBT which has been one of the best performers for the last couple of days. Today the stock slipped 12%, making it the third biggest faller. The buying frenzy of late – over the last week and a half the share price had more than doubled – has clearly presented some profit taking opportunities for astute investors but so long as digital assets continue this march towards broad acceptance then it’s difficult to see the downside lasting long.
