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Small Cap Stocks: Longboat Energy, Sound Energy, Mind Gym

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London’s AIM All Share has had something of a rangebound session, stuck within a four point channel and reaching 4pm up by less than a point at 776.81.

  • Longboat Energy +45%
  • Sound Energy +17%
  • Mind Gym -22%
  • Anglesey Mining -17%
  • Eco Buildings +17%

Longboat Energy LON:LBE topped the chart, adding 45% on the day following this morning’s notification of a strategic pivot to focus on South East Asia where management sees significantly improved potential for a small company compared to Norway both in terms of capital raising and value creation. The business has also divested of a Norwegian holding which will yield $2.5million on completion.

Sound Energy LON:SOU was in second place heading towards the bell, up 17%. On Friday night after the market had closed, the company advised of a partial divestment of its Moroccan assets for $45m.

Eco Buildings [LON:ECOB] gets the notable mention, up 17% at copy time. This morning the company advised the market that its factory in Albania was fully automated and operational, reducing production times by 33%. The company notes the acquisition of IP through this phase and will deploy the technology as new production lines are built. The stock now sits at YTD highs.

Mind Gym LON:MIND was the biggest faller after the HR support company posted a full year loss and advised of a slowdown in some key markets. Whilst management expect to be cash generative this year and note there’s a £2m credit line in place, with just £1.4m cash in hand, some investors seem cautious.

And heading into the close, Anglesey Mining LON:AYM was the second worst performer, off some 17% and extending Friday’s losses. There’s no official news here and the move is within the quoted spread but is something incoming?

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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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