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SmallCap Round Up: Bowleven, Lunglife AI, Lansdowne Oil & Gas, Amte Power

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London’s AIM Index has spent the session trading broadly sideways but by 4.30pm was sitting towards the foot of the day’s range, off just over one point at 764.94.

  • Bowleven +67%
  • Lunglife AI +55
  • Metals Exploration +15%
  • Amte Power -47%
  • Lansdowne Oil & Gas -33%

Bowleven LON:BLVN was up 67% at the close, having seen some very heavy buying in the latter part of the session. The one-way traffic drove the spread out to 20% and whilst there’s no firm news, the underlying has pushed to fresh highs for the year. There are a number of potential high profile events which could lead to a significant rerating for the stock – is something looming?

Lunglife AI LON:LLAI was in second place, up 55%. Again no news and demand was weighted very much in the latter part of the session, delivering a spread in excess of 20% as a result. It’s notable that the actual volumes transacted were far from remarkable.

Amte Power LON:AMTE was the biggest faller, off 47% in the wake of a financing update. This is essentially a last call, noting that the financing situation is now critical and that if funds aren’t forthcoming in a matter of days, the prospect of shareholders recovering any value is seen as remote.

Lansdowne Oil & Gas LON:LOGP sat 33% lower having completed an equity placing. Proceeds of the raise are to fund working capital requirements through to October whilst the company pursues litigation. The risk here appears to be that the legal processes outlast the patience of investors…

Metals Exploration LON:MTL gets the notable mention, up 15% off the back of a quarterly update. The company posted record gold sales, a significant reduction in debt and has also upgraded production guidance.

That’s our last AIM roundup ahead of the summer break. We will however be back refreshed and ready to go on Wednesday August 9th.

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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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