London’s AIM All Share almost managed to finish the day in the black although it wasn’t to be. Talk that the Bank of England may cut rates faster than had been expected appears to be lending a degree of support to UK stocks with the junior index wrapping up the day less than one fifth of a point lower at 734.12.
- Energypathways +45%
- Global Petroleum +26%
- Mkango Resources +5%
- RBG Holdings -23%
- Petrel Resources -23%
Energypathways [LON:EPP] was the biggest riser on the day, adding 45% after announcing to the market that it had entered into a £5.1m loan agreement to fund a green energy storage facility. This will be located off the Lancashire coast. Interest is charged at 12.5% p.a. but securing the deal is seen as validating the investment potential of projects like this.
- Small Cap Stocks: Valirx, EnergyPathways, Merit Group
- Three Quick Facts: Hollywood Bowl, Cerillion, Energypathways
Global Petroleum LON:GBP is also making gains, up 26% on the day. The company announced mid-session on Wednesday that the CEO had agreed to extend a loan agreement until next September, enabling the company to continue an exploration project and a farm-in agreement.
- Small Cap Stocks: Creo Medical, Nostra Terra, Proton Motor Power
- Small Cap Stocks: Global Petroleum, Oncimmune
Mkango Resources [LON:MKA] gets the notable mention after a modest 5% uptick. The company announced this morning that it had received grant funding from the UK government to advance their rare earths recycling project.
- Small Cap Stocks: UK Oil & Gas, Renalytix, Nostra Terra
- Small Cap Stocks: Clontarf Energy, Kropz, Eurasia Mining
RBG Holdings LON:RBGP was the biggest faller, off 23%. An executive director stood down from the company this morning with immediate effect and little in the way of explanation. She will retain director and senior partner roles at subsidiary companies, but this has served up a fresh knock for the share price.
Petrel Resources LON:PET was 23% down on the day. There’s no news here and records show barely a dozen trades being placed, but volumes have been notably elevated.