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SmallCap Round Up: Argos Resources, Mercantile Ports, Phoenix Copper


London’s AIM All Share posted further losses on Thursday and whilst modest, saw the index settle almost four points lower at 792.54

  • Argos Resources +20%
  • Mercantile Ports +17%
  • Phoenix Copper +16%
  • Itsarm -25%
  • Premier African Minerals -25%

Argos Resources [LON:ARG] topped the board, up 20% on the day. There is however nothing behind the move with the share recovering most of yesterday’s losses and continuing to be quoted on a wide spread and with low volumes.

Mercantile Ports [LON:MPL] advanced 17% on the back of news of a contract extension. Trade volume was once again limited however and the move was within the spread quoted at the close.

Phoenix Copper [LON:PXC] gets the notable mention, up 16%. The company issued full year results this morning and although dealflow was limited, evidently the market was positive over the numbers, with the stock trading on a modest 4% spread by the close.

Itsarm [LON:ITS] heads towards delisting and shed another 25% on the day. There have been suggestions that the delisting would take place on Friday but volumes ultimately have been very limited.

Premier African Minerals [LON:PREM] was also down 25%, in the wake of a project update. Whilst the headline news was good, the kicker was a line that read Alternative further funding may need to be sought if there are any further significant shipment delays. Investor caution appears to have taken a toll…

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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