London’s AIM index may have recovered some of its early losses but spent the whole day well underwater with the Bank of England rate hike doing little to offer support, closing down just over 10 points at 815.10.
- Marechale Capital +31%
- iEnergizer +25%
- Block Energy +14%
- Ethernity Networks -51%
- Petroneft -33%
Marechale Capital [LON:MAC] provided an investment update this morning, with two of its portfolio companies making some noise and the underlying share price adding 31% as a result. That includes the potential disposal of Burgh Island hotel in which MAC owns a 4.9% stake and the fact that a Lithium mine in the North of England where it owns an 8.5% stake is now successfully extracting the metal.
iEnergizer [LON:IBPO] rallied 25% on Thursday off the back of signs of some big buy orders going through. Management have proposed a delisting, which given the ownership structure looks to be a nailed on certainty and clearly investors are seeing value at these levels.
- SmallCap Round Up: ITM Power, Serabi Gold, Prospex Energy
- SmallCap Round Up: Ethernity Networks, Brave Bison, ECR Minerals
- SmallCap Round Up: Eqtec, Ethernity, SulNOx
Ethernity Networks [LON:ENET] slumped 51% to find itself at the foot of the board on Thursday. The sell-off reflects the discounted fund raise which took place this morning. The CEO and non-executive Chairman both bought into the issue, with proceeds to be used for improvement in testing and integration facilities.
Petroneft [LON:PTR] slipped 33% on the day, extending losses from Wednesday after news that a wholly owned subsidiary in Russia had filed for bankruptcy, following its inability to connect to an export pipeline.
Block Energy [LON:BLOE] gets the notable mention, adding 14% on the day. Final results published this morning saw production up 5% YoY, whilst revenues added 35%. Despite that however, the company remained loss making.
