London’s AIM index slipped further from that key 1,000 level during Tuesday’s trade, closing almost 4 points down at 989.47
- Orosur Mining up 33%
- Ncondezi Energy up 21%
- Rambler Metals Mining down 18%
- Solo Oil down 17%
- Notable mention Synairgen, down 9%
There were no major outliers in Tuesday’s trade, but Orosur Mining [LON:OMI] topped the board, bolstering Monday’s update-driven gains and adding a further 33%. At the start of the week the miner advised the market that funding had been secured to proceed with exploration in Colombia and even though this faces delays owing to COVID-19, investors remain confident.
Ncondezi Energy [LON:NCCL] makes it onto the list again following news that a major shareholder has joined the board as a NED. This arguably provides fantastic oversight for other investors and has bolstered confidence as a result.
At the other end of the board, Rambler Metals & Mining [LON:RMIM] has found itself squeezed in a day of relatively heavy trading. This stock is being priced on a 33% spread however and few buyers seem to have been in play, leaving shares to close 18% lower.
Solo Oil [LON:SOLO] floundered too, although following yesterday’s stratospheric triple digit gains, a 17% reversion needs to be taken in context. Profit taking and consolidation likely played a role here.
A notable mention for Synairgen [LON:SNG], which lost 9% after a good performance on Monday. Again no specific news here and given further issues with COVID vaccine trials, the move may seem counterintuitive.