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AIM round-up: Keras Resources, Ncondezi Energy, 88 Energy


After yesterday’s shuffle higher, the AIM Index has returned to its sideways movement, reaching the closing bell on Wednesday just over one point lower at 1045.26.

  • Keras Resources +150%
  • Ncondezi Energy +52%
  • 88 Energy +32%
  • Eurasia Mining -19%
  • Trafalgar Property -16%

Keras Resources LON:KRS posted an impressive double bagger today, following the release of news that it had acquired a 100% interest in a Diamond mine in Utah. The update resulted in exceptionally high volumes of trades being placed, driving the stock up 150%, back to levels not seen since the the first half of 2021.

Ncondezi Energy LON:NCCL is no stranger to this list but today it posted the second highest set of gains, adding 52% by the bell. Shares have been extending those gains off the back of yesterday’s working capital update. That said, the stock continues to trade on a somewhat exaggerated spread in modest volumes – this is far from being a sea change in sentiment.

A notable mention for 88 Energy [LON:88E], which added 32% on the day. After the mauling the stock took yesterday, there did seem to be the chance that the losses would look overdone, although with the closing spread not far off 20%, the big winners here may well be the intermediaries. There’s more news on Merlin 2 due plus other projects – this remains one worth watching.

Eurasia Mining LON:EUA found itself at the foot of the board, off almost 19% by the bell. The stock found some support yesterday off the back of hopes that a peace accord between Russia and Ukraine may be forthcoming, but with that idea diminishing, opportunists are likely booking profits where they can.

Trafalgar Property LON:TRAF was also in focus, down 16% on the day. However this is an absolute minnow of a stock with a sub £1m valuation and closed on a very wide spread. With no news here and just a handful of trades being reported, there’s little worth of note – at least for now.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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