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.
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.
