The AIM Index managed to nudge a shade higher during Wednesday’s session after spending most of the morning in the red. By the close, the junior market all-share was up almost four points at 1172.47
- Online Blockchain up 41%
- Arkle Resources up 41%
- Microsaic down 23%
- Active Energy down 19%
- IDE Group down 13%
Arkle Resources [LON:ARK] was the day’s biggest riser adding 44% during the day. A news release early afternoon drove interest in the stock after the company reported it had identified high grade gold bearing vein outcrops at its Inishowen site in Ireland. Further drilling is required to understand the full value here and it’s worth noting that a similar statement last November resulted in a quick spike that wasn’t sustained.
Online Blockchain [LON:OBC] also fared well, adding close on 39% by the close. Investors saw fresh enthusiasm for shares as the cryptocurrency frenzy continues. There’s no news behind the move higher, but the stock appears to be tracking re-ratings by other broadly aligned companies.
Microsaic [LON:MSYS] has found itself at the bottom of the pile off 23% following yesterday’s lurch higher. This morning the company confirmed that there was no news from the corporate restructuring specialist that justified yesterday’s gains, but the share price still remains meaningfully higher than was seen at the start of the week.
Active Energy [LON:AEG] slipped 19% with the stock continuing to give back gains accrued at the end of last year. The price is still well ahead of levels seen before Christmas but investors appear to have appetite for more news of sales for the company’s patented CoalSwitchT, news of which initiated the rally back in December.
A notable mention for IDE Group [LON:IDE] again which reversed another 13% as the gains from earlier in the week continue to abate. Whilst the announced contract win is good news, more of the same is clearly necessary if another leg higher is to be found.