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London’s AIM Index spent the day wholly in negative territory, although with losses limited to just over 5 points or 0.44%, the performance was significantly better than that posted by the main board. The junior index settled at 1260.75.

  • Helium One Global +27%
  • Amur Minerals Corporation  +17%
  • Eco (Atlantic) Oil & Gas -13%
  • Chariot -9%
  • Eve Sleep -8%

Helium One [LON:HE1] was the best performer on Thursday, adding some 27% by the closing bell. The company offered an update before the market open, advising that it had commenced drilling operations at its wholly owned project in Tanzania. With resources already proven, investors will likely be expecting a quick return on this project.

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Amur Minerals [LON:AMC] was the day’s second biggest riser, adding 17% by the close. There’s no firm news out here but gains have driven shares back to levels not seen since last October.

Eco Atlantic [LON:ECO] was the day’s worst performer, off some 13% at the close. There appears to be some concern that changes in the way drilling royalties are paid to some locales where the company operates could have an adverse effect. Shares have now reversed gains which looked to be driven off the back of full year results issued at the end of July, although the sector as whole is being pressured.

Another oil company Chariot [LON:CHAR] also fared badly on Thursday, slipping 9% as the day’s second worst performer. Again, no specific news here but shares have unwound the bulk of gains which were again realised at the end of July.

A notable mention for Eve Sleep [LON:EVE] which drifted another 8% during the session, closing at fresh lows for the year as a result. Despite some innovations in recent months, investors remain reluctant to buy into the mattress manufacturer which now has a market cap of just £8m.

Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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