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SmallCap Round Up: Scotgold Resources, Eden Research, Zanaga Iron Ore


London’s AIM Index slipped further, posting its sixth consecutive decline and testing lows not seen since the early days of the COVID pandemic. At 4.30pm the All Share sat down just over four and a half points at 762.54.

  • Scotgold Resources +71%
  • Eden Research +31%
  • Zanaga Iron Ore +27%
  • Microsaic -67%
  • Premier Africa -42%

Scotgold Resources LON:SGZ topped the board, adding 71% on the day. There’s no news to support the move, but this has returned the stock to levels not seen in a couple of months. There’s still a long way to go if the late March sell off is to be recovered, however.

Eden Research LON:EDEN was in second place at the bell, some 31% ahead. There’s no further news out since the notification that a new product distributor had been appointed in Colombia a week ago, but the stock has now trebled in value since the start of the month, pushing out to two year highs as a result.

Zanaga Iron Ore LON:ZIOC was up 27% off the back of notable levels of buying, extending the upside seen at the start of last week. Again there’s no formal news out, but annual results are looming.

Microsaic LON:MSYS was the biggest faller after updating shareholders of its cash position. There’s a seven figure sum outstanding by DeepVerge and failure to receive this will force Microsaic’s board to raise further working capital during Q3.

Premier Africa LON:PREM was down 42% at the bell, following the publication of an offtake and pre-payment update. This in itself is complex, but the kicker appears to be news that the company remains cash constrained and the sale of further equity seems likely.

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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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