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SmallCap Round Up: Smart Metering Systems, Polarean Imaging, Premier African Minerals


London’s AIM Index has added close on three points during the day, standing at 720.95 by the closing bell and comfortably outperforming the main board.

  • Smart Metering Systems +41%
  • Polarean Imaging +31%
  • Premier African Minerals +22%
  • Future Metals -48%
  • Eurasia Mining -24%

Smart Metering Systems [LON:SMS] was the best performer on the day, advancing 41% on the back of news that the company had agreed to a takeover from a US private equity firm in a deal worth £1.3bn. That’s one of the biggest M&A deals seen in London in months and arguably underlines the theme that there’s no shortage of value to be found in the UK market right now.

Polarean Imaging [LON:POLX] added 30% on the day off the back of a company update. The business has received its first commercial order for a new XENOVIEW polariser and provided a range of other news items, including the fact that the current cash runway will last into Q3 ’24. That clearly didn’t phase investors who are encouraged by the rebound after a torrid few years for the share price.

Premier African Minerals [LON:PREM] added 22% on the day to take the notable mention, having provided an update on its Zulu Lithium and Tantalum project. Detail was light and the uptick doesn’t make much of an impact on losses of the last few months, but the news has offered some support.

Future Metals [LON:FME] slipped 48% on the day. News of a scoping study’s findings may look encouraging, but the sub-text here is one of more funding being necessary. That seems to have left some who rode the price up over the last few weeks keen to find an exit.

Eurasia Mining [LON:EUA] was 24% lower off the back of its corporate update. Volumes were sharply higher but the closing spread was in excess of 10% as the company tries to shift its Russian assets. Even though talks are in progress with parties based in third countries, this could prove costly for shareholders depending just how big a discount is seen.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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