London’s AIM All Share index has limped through the opening session of the week, trading in a two point range and finding little cause for cheer, finishing down by around one quarter of a point at 732.21.
- Oracle Power +73%
- Surface Transforms +41%
- K3 Business Technology +40%
- Goldstone Resources -37%
- Beacon Energy -21%
Oracle Power LON:ORCP was topping the board, up 73% on the day in a very brisk session of trade. There’s no news out but some investors are evidently anticipating a release tomorrow morning, with these gains extending the move higher we saw a week ago off the back of drill results.
- Small Cap Stocks: Victoria, Proton Motors, Coro Energy
- Small Cap Stocks: Rockfire Resources, Fusion Antibodies, Oracle Power
Surface Transforms LON:SCE was in second place, trading 41% higher. The stock took a hammering off interim results a couple of months ago, sliding by 75% so today’s uptick needs to be put in that context. This still looks like a struggling business.
- Small Cap Stocks: Surface Transforms, Orcadian Energy, Tan Delta
- Small Cap Stocks: Rockfire Resources, Fusion Antibodies, Oracle Power
K3 Business Technology LON:KBT gets the notable mention with the stock adding 40% on the day after management announced this morning that they had agreed to the disposal of a key business unit. The sum agreed on was around 30% higher than Friday’s closing valuation for the business, and an undisclosed chunk of the money will be returned to shareholders in H1 2025.
Goldstone Resources LON:GRL was the biggest faller, off 37% at the bell. A convertible loan note which was supporting a £2.7m loan due for repayment on Friday still hasn’t been cleared and the company is still looking for fresh funding or a variation to the existing terms. Failure to resolve this could jeopardise the company’s trading position.
Beacon Energy [LON:BCE] was in second to last place. The stock tumbled last week off the back of news it was set to become a cash shell and concerns here appear to be lingering. Shares were down 21% at 4.30pm.
