Globally, markets have started the week in a somewhat upbeat mood, with sentiment buoyed by the fact that the Israeli conflict didn’t escalate too significantly over the weekend. The AIM Index managed to find some support off the back of this and printed gains of just over four points, closing at 678.91.
- Cadence Minerals +58%
- Insig AI +20%
- Empire Metals +11%
- Versarien -33%
- Base Resources -23%
Cadence Minerals LON:KDNC was the day’s best performer, up 58%. The company issued a development financing update this morning which was evidently well received by the market resulting in significantly elevated levels of volume being seen and the spread being pushed out to close on 15%. This reverses losses accrued over the last six weeks.
Insig AI LON:INSG was up 20% off the back of new product launch information released this morning. The company’s transparency and disclosure index product is aiming to standardise corporate disclosure ratings. Only a handful of trades were however reported.
Empire Metals LON:EEE gets the notable mention, up 11%. There was a statement out this morning regarding the company’s involvement in an Australian mining conference next week leading to some speculation that further updates could be imminent.
- AIM Market Roundup: Tungsten West, Savannah Energy, Team Internet Group
- Small Cap Stocks: Hummingbird, LPA Group, Cadence Minerals
- Three Quick Facts: Tullow, Chapel Down, Versarien
Versarien LON:VRS was the biggest faller, off 33%. Trade was thin and the move sits within the closing spread although a reorganisation of share capital was also approved at today’s general meeting.
Base Resources [LON:BSE] was in second to last place, down 23%. The company this morning announced that it would be winding down operations at its Kwale mine once ore reserves are fully depleated next year. Attempts to expand the mine have proved unsuccessful but the company points out that it does have other assets to develop. Healthy buying interest underlines that there’s some confidence in the future outlook.
