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SmallCap Round Up: ITM Power, Serabi Gold, Prospex Energy

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London’s AIM Index has seen modest gains through the session, adding just over one and a half points and managing to avoid the selling seen on the FTSE-100 in line with the US open. The all share closed at 756.40

  • ITM Power +27%
  • Serabi Gold +26%
  • Prospex Energy +17%
  • Inspiration Healthcare -29%
  • Ethernity Networks -18%

Note pricing issues may mean we are reflecting levels seen shortly before the close today.

ITM Power LON:ITM topped the board, adding 27% on the day in the wake of a very well received trading update. Revenues increased 350% and losses were significantly truncated, with management sending upbeat messages when it comes to pent up demand, too. Obviously the share price remains well below the 2021 highs, but longer term investors at last have something to cheer.


Serabi Gold LON:SRB added 26% on the day, having announced a multi year renewal of a trial mining license at its Coringa site. That has lifted the share price back to levels not seen in almost two years, with management noting that production guidance for the full year remains unchanged.

Prospex LON:PXEN gets the notable mention, adding 17%. Mid-afternoon the company confirmed a production report from a partner on an Italian project which appeared to pique investor interest although volumes have been relatively light.

Inspiration Healthcare LON:IHC was the worst performer, down 30%. The company issued a full year trading update this morning, noting revenues would be below market expectations. Whilst that results largely in a timing problem, the company has also had to see covenant waivers, the outcome of which is still unknown.

Ethernity Networks LON:ENET had a challenging day despite concluding the Temporary Suspension of Proceedings (TSP) process, something that management note has left the company in a far stronger position. Given the resulting 18% sell-off, the question now is whether more bad news is incoming.

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Hargreaves Lansdown IG Interactive Brokers Interactive Investor Charles Stanley
IG Interactive Brokers Charles Stanley

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