The AIM Index lost a little ground today, underperforming the main board with some Sterling strength off the back of better than expected jobs data this morning arguably weighing a little. At the bell, the index sat just over one point lower at 832.26.
- Keras Resources +24%
- Xtract Resources +21%
- Volex +19%
- Echo Energy -44%
- Circle Property -30%
Keras Resources LON:KRS was the biggest gainer, up 24% at the close. After last night’s market close, the company issued a notification that a US investor had acquired a 10% stake in the business, having bought the stake from First Uranium. The gain is however tempered by the 13% spread quoted at the close.
Xtract Resources LON:XTR also had a good session, adding 21%. The company has been finding continued support since the publication of a production update a couple of weeks back, with the shares having close on doubled in value since the late March lows. There has however been no official news since the production statement.
A notable mention for Volex LON:VLX which added 19% by the bell. The full year trading update published this morning noted an upgrade in revenue and profit forecasts, topped off by a solid balance sheet and strong cash generation. Investors were cheered by the news which pushed the stock back to levels not seen since the start of the year.
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Echo Energy LON:ECHO was the day’s biggest faller, down 44% in the wake of a commercial update this morning. Critically the company has a significant pool of creditors and management are now hunting for creative financing options, having noted that a traditional equity raise against that position along with macroeconomic factors would make such a move difficult.
Circle Property LON:CRC was down 30% on the day, although this was driven by a return of capital event to shareholders which had a record timestamp of 6pm on April 17th.
