London’s AIM all share index started the week on the back foot, shedding more than five points as investors found little to cheer in terms of hope that a Bank of England rate cut would materialise any time soon. At the bell, the index stood at 750.39.
- KRM22 +45%
- Serinus Energy +41%
- Checkit +14%
- Horizonte Minerals -84%
- Bens Creek -48%
KRM22 LON:KRM was the biggest gainer, up 45% off the back of news that a new customer contract had been signed with one of the largest Futures Commission Merchants globally. The contract is worth £0.6m over three years and this sees annual recurring revenues now standing at £6m. Trade was limited but this does reverse recent losses for the stock.
Serinus Energy LON:SENX was in second place, some 41% higher at the bell. There’s no news here but the comparative narrow quoted spread is note-worthy in terms of underlying levels of activity.
Checkit LON:CKT gets the notable mention, up 14% off the back of new contract wins and product launch news, with management heralding this as showing a strong start to FY25.
- Small Cap Stocks: Tower Resources, Serinus Energy, Surface Transforms
- Small Cap Stocks: UK Oil & Gas, Destiny Pharma, Tower Resources
- Three Quick Facts: British American Tobacco, 88 Energy, Checkit
Horizonte Minerals LON:HZM was 84% lower at the bell off the back of the latest corporate update. The company has been unable to secure financing and is now considering other options to protect creditors. The poor underlying Ferro-Nickel market is also seen as having been challenging, but critically the options tabled are seen as unlikely to recover any value for shareholders.
Bens Creek LON:BEN was in second to last place, down 48%, extending Friday’s losses as the company filed for Chapter 11 bankruptcy protection in the US. Cash is expected to run out in around four weeks time and although debts are owing, there’s a lack of confidence that money can be secured, again risking shareholders being left offside.
