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AIM round-up: Microsaic Systems, Zephyr Energy, Xtract Resources


London’s AIM index has managed another day of modest gains, tacking on almost 7 points by the close to finish at 1181.13.

  • Microsaic Systems up 63%
  • Zephyr Energy up 43%
  • Xtract Resources down 20%
  • Iofina down 16%
  • Mountfield Group down 12%

Microsaic Systems LON:MSYS charged to the top of the board today, adding 63% off the back of a broad update including news of a fundraise, board reshuffle and a general meeting. The move accounts for a significant recapitalisation of the company so presumably existing investors are cheered by this and the promise of a new management team. The stock has been trading on a wide spread, but even taking this into account it’s still been a bumper day for the minnow.

Zephyr Energy LON:ZPHR also fared well today, adding 43% by the close. This is an interesting one as the company delivered a bullish update last week but there was no price action at the time. The market may now be catching up, although as a fossil fuel play, investors will presumably be watching comments from President-elect Joe Biden closely in the coming days.

Xtract Resources LON:XTR slumped 20%, having posted some strong gains over the last few days. Another update on its Bushranger drilling project was issued, continuing with yesterday’s positive theme, but enthusiasm for the stock appeared to be running thin. The four fold gains of recent days will however leave many ready to book some profit – this may simply be a pause for breath.

Iofina LON:IOF also struggled today, shedding 16% off the back of a market update. That was generally bullish, but if you take the fact Iodine production was surging at a time when demand was falling, there’s enough to perhaps see some downside. Given the recent stability of the share price, it’s difficult to see this as profit taking however and opportunists may be buying at this price.

A notable mention for Mountfield Group [LON:MOGP] as one of the day’s larger losers, off 12% in the wake of a trading statement this morning. The pandemic has taken a toll on the business and whilst they see the vaccine roll out as cause for optimism, there’s concern as to what the longer term impact will be on how people work – and with that the demand for its flooring services. The board is now considering making structural changes to the group to improve shareholder value.

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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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