London’s AIM Index managed to post some modest gains in the latter part of the day, outperforming both the main board and the early trade across the Atlantic as a result.
- FIINU Plc +35%
- Orosur +28%
- Golden Metal Resources +16%
- Chamberlin -26%
- Zytronic -25%
FIINU LON:BANK topped the board, adding 25%. There’s no news out and the company is currently in the process of reapplying for its UK banking license but management issued a note today to say they had no idea why the share price had reacted in this way. It is however worth noting that there’s a significant spread on the company which is valued at just a couple of million pounds.
Orosur [LON:OMI] added 28% on the day, extending the recent run of gains. This takes the stock back to levels not seen since last April following the release of disappointing Q3 results. The latest update should be printed in the next couple of weeks.
A notable mention for Golden Metals [LON:GMET], up 16% on the day. The company announced a high grade gold, silver and copper bedrock discovery in Nevada, reinforcing the original results which were posted late last year. This takes the stock to an all time high, but is there more upside to come?
- Small Cap Stocks: Emmerson, CAP-XX, YouGov
- Small Cap Stocks: Orosur Mining, Ethernity Networks, Coro Energy
- Small Cap Stocks: Arc Minerals, Versarien, Fiinu
Chamberlin LON:CMH was the biggest faller, off 26% on the day. That’s off the back of a discounted fundraise which completed this morning, with the funds being used to shore up the balance sheet as well as support the continued delivery of growth strategy.
Zytronic LON:ZYT was in second to last place, off 25% in the wake of full year results. These saw revenues off by a third, margins squeezed and the dividend suspended. Management added that the trends seen in the latter part of FY23 had been sustained into FY24. The calls for cautious optimism in the medium term seemed to ring hollow…
