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SmallCap Round Up: Microsalt, Bushveld Minerals, Baron Oil


London’s AIM Index may have been unfazed by no change from the Bank of England today, but once again it was the US open that acted as the tipping point, leaving the junior market to finish the day off by just over a point at 753.54.

  • Microsalt +100%
  • Bushveld Minerals +48%
  • Baron Oil +42%
  • Made Tech -23%
  • Sunrise Resources -14%

Microsalt LON:SALT], the low-sodium salt alternative producer saw its shares debut on AIM today and progress 100% higher during the session. The company is majority owned by fellow AIM-listed Tekcapital [LON:TEK], a portfolio investor who was also behind the IPO of Belluscura back in 2021.

Bushveld Minerals [LON:BMN] added 48% on the day. It’s been a turbulent period for the stock with the FD resigning earlier in the week and the company continuing to chase $12m dollars from a partner. However news today highlighted that a CLN refinancing had been completed is helping drag the stock up from recent lows.

Baron Oil [LON:BOIL] gets the notable mention, having added 42% on the day following this morning’s announcement of a farm-up agreement moving to an unconditional status. The deal was last week reported as being worth some $8.5m to Baron.

Made Tech [LON:MTEC] had a bruising day, off 23% at the bell. A trading update published this morning saw revenues slightly lower but forward bookings were significantly diminished and given the fact a general election is looming, the expectation is that new public sector contracts will be difficult to lock down.

Sunrise Resources [LON:SRES] also had a difficult day, off 14% by the close. There was no news, but this is a minnow of a stock and only a handful of trades were seen, with the spread accounting for much of the loss.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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