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We saw another uneventful day for the AIM index on Wednesday, with the market putting in a rangebound performance but managing to creep into positive territory by the close, finishing just over three points higher at 959.73.

  • Orosur Mining up 88%
  • I-Nexus Global up 30%
  • Katoro Gold down 29%
  • Ide Group Holdings down 26%
  • ValiRx up 17%

Orosur [LON:OMI] charged significantly higher during the session following an update on its Colombia project. The arrival of a second joint venture partner has paved the way for exploration and the company adds that it now has two of the world’s top 10 gold miners invested in the project.

I-Nexus Global [LON:INX] also moved higher today although the company is something of a minnow with a market cap of just £2m and trading on a 10% spread. There’s little to justify the move in terms of fundamentals however.

Katoro Gold [LON:KAT] was the biggest loser, slumping 29% off the back of a funding update. Whilst there was a positive spin to this, investors appeared to be expecting more and the note of caution over ongoing delays owing to COVID-19 will do little to bolster confidence either.

Ide Group [LON:IDE], the IT services provider, was another big faller on Wednesday losing 26% after half year results were published. Revenues were down from £14.7m to £12.4m but with the company having reduced headcount in the wake of COVID, this has the potential to hit attempts to rebuild income in the short term.

A notable mention for ValiRx [LON:VAL], which managed to notch up some gains during the session after a bruising start to the week. Given the trials update at the start of the week, the heavy selling always risked being overdone. The day’s 17% recovery leaves the stock at 32p.

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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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