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SmallCap Round Up: Strix, Zanaga Iron Ore, SDX Energy


London’s AIM Index spent the day in a narrow range but that weak start on Wall Street proved sufficient to consign the junior board to a negative finish. At 4.30pm the All Share was down by around half a point at 694.75

  • Strix +21%
  • Zanaga Iron Ore +20%
  • SDX Energy +12%
  • Horizonte Minerals -26%
  • Echo Energy -19%

Strix LON:KETL topped the board at 4.30pm, up 21% on the day. There’s been no news since word of stake building a few days ago but the share price remains well below the levels seen last month when interim results hammered the share hard.

Zanaga Iron LON:ZIOC put in another good day, continuing to extend recent gains. The share price has now doubled since the end of last week, off the back of news of those falling project costs.

SDX Energy LON:SDX gets the notable mention, up 12% with investors applauding the news that the company had secured the prepayment of $1.9m for gas from a CITIC subsidiary. Again however the stock has been knocked back in recent months so the uptick needs to be viewed in this context.

Horizonte Minerals LON:HZM was the biggest faller, off 26%. The stock has been on a rollercoaster ride of late as a result of spiralling costs from its nickel mine. Although bargain hunters moved in yesterday, this morning saw a notification of a large holder selling down their stake.

And Echo Energy LON:ECHO was in second to last place, off 19%. The company’s stock was only reinstated at the start of the week following a suspension earlier in the summer and it’s been one way traffic since. This is however a minnow of a stock valued at less than £1m. Volumes were unremarkable and the spread accounts for most 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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