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Small Cap Stocks: Clontarf Energy, Kropz, Eurasia Mining

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There were yet more notable losses chalked up on the AIM All Share on Monday, leading the index back to levels not seen in four weeks. By the bell, close on six points had been lopped off, with the index standing at 787.88.

  • Clontarf Energy +47%
  • Kropz +27%
  • Mkango Resources +22%
  • Eurasia Mining -47%
  • Electric Guitar -32%

Clontarf Energy LON:CLON topped the board, adding 87% on the day. Preliminary results published this morning saw the company post a significant reduction in losses year on year, Despite the fact that the current trajectory means further funding may be necessary, investor confidence is rising. Losses picked up last week off the back of an unfavourable credit rating have now been almost fully reversed.

Kropz LON:KRPZ advanced 27% on the day and although that’s a shadow of the upside seen in early trade, the stock was still one of the best performers. Management however issued a speeding ticket this morning, notifying the market that they had no knowledge as to why the gains had been so pronounced.

Eurasia Mining LON:EUA was the biggest faller, off 47%. Again management responded to recent moves in the share price, citing unsubstantiated online chatter regarding a feasibility study for a site in Northern Russia. This was completed successfully but the question now revolves around what to do with these assets. A significant degree of last week’s gains have now been given back.

Electric Guitar LON:ELEG also struggled, giving back 32% on the day. An interview eyeing further acquisitions was published at the end of last week and based on current valuations the stock is trading at a meaningful discount to NAV. That said fresh all time lows are now being tested.

Mkango Resources [LON:MKA] gets the notable mention with the company announcing a rare earths recycling program in Japan. This is seen as a significantly untapped approach to the market and as such the share price response was arguably warranted.

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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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