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SmallCap Round Up: CAP-XX, Faron Pharmaceuticals, Clontarf Energy


Heading into the close and the AIM All Share index is working hard to recover modest losses, sitting less than a point lower at 737.51 with just a few minutes to run to the bell.

  • CAP-XX +46%
  • Faron Pharmaceuticals +27%
  • Clontarf Energy -33%
  • Hummingbird -29%
  • Focusrite -27%

Just ahead of the bell and CAP-XX [LON:CPX] was the day’s biggest gainer, adding 46%. The company provided a litigation update late last month and this appears to have placated the fears of at least some investors. The stock had traded as low as 0.0575p, making today’s intraday high of 0.32p notable. Support may have abated a little, but the comparatively tight spread is notable.

Faron Pharmaceuticals [LON:FARN] also fared well, adding 27% after the company published an update this morning. Noting additional positive data from a clinical study, shares made good progress with elevated levels of trade being seen, although the share price remains well below levels seen before the notice of default was issued a month ago.

Clontarf Energy [LON:CLON] was the biggest faller, off 33% at copy time. That comes off the back of placing news which saw £400k being generated to advance lithium projects in Central America, petroleum projects elsewhere and for general capital purposes. The decline mirrors the discount offered for the new placing.

Hummingbird [LON:HUM] was in second to last place, off 29% on the day, having issued an update on mining at a project in Guinea. The principal contract miner at the Kouroussa site has suspended operations amidst a contractual dispute. This is apparently in breach of terms and ultimata have been set in a bid to force a return to work, but remedying a situation like this has the potential to be a drawn out affair

And the notable mention goes to Focusrite [LON:TUNE], down 27% on the day. A trading update here saw FY24 revenues being projected at £155m, down from the £178m posted last year. Margins are reported as remaining strong but net debt is growing although management expect this to unwind and credit facilities do offer headroom here.

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

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