London’s AIM Index has managed another day of gains (yay) but they have been rather modest, with an uptick of just over one and a half points being recorded, closing at 755.86.
- Alba Minerals +48%
- Kooth +33%
- Bezant Resources +15%
- Aptamer Group -33%
- Restore -27%
Alba Minerals LON:ALBA topped the board, adding 48% by the bell. This morning the company advised that it had been granted the necessary ecological permits to allow exploration at its primary target. Volumes were significantly elevated and packed into a relatively small number of trades, reflected in the 20% closing spread.
Kooth LON:KOO added 33% in the wake of placing news. The company raised £10m at 300p a share, a meaningful premium to last night’s close and the deal was oversubscribed, too, helped along by news of a $188m contract win for the State of California which will run for the next three years. Management expect a material upgrade to 2023 revenue guidance as a result.
Bezant Resources LON:BZT gets the notable mention, up 15% on the day. The company issued results last week which included a typo where profit had been reported as a loss and this appears to have injected some life into the stock, although the spread accounted for almost all the gain.
Aptamer Group LON:APTA slipped 33% off the back of a trading update. This flagged a £0.2m cash balance and noted that further funding would be needed imminently for the business to remain a going concern. Directors are reviewing a range of funding options.
- Small Cap Stocks: UKRProduct, Braveheart, Microlise
- Small Cap Stocks: Armadale, Deltic Energy, Kooth
- Small Cap Stocks: Inspiration Healthcare, Aptamer, UK Oil & Gas
Restore LON:RST slipped 27% off the back of its trading update. This came with a profit warning noting that full year performance would be lower than previously expected. Interest costs are mounting for the business although management believe revenue growth will be maintained, helped by the implementation of index linked price increases.
