Tame US inflation data saw treasury yields state side retreating, turbocharging enthusiasm for equities. By 4pm, London’s AIM Index had added more than nine points to sit at 710.07.
- Velocys +49%
- Shuka Minerals +19%
- Allergy Therapeutics +16%
- Horizonte Minerals -50%
- Rockfire Resources -30%
Velocys [LON:VLS] topped the board with half an hour to go, up 49%. A note issued at the end of last month highlighted funding issues and the need to find more cash. Strong buying demand has been seen suggesting that optimism a resolution is nearing may be in play.
Shuka Minerals [LON:SKA] advanced 20% by 4pm with upbeat narrative from the new board seen as providing some confidence to the stock. Again, no official news has been released – yet.
Allergy Therapeutics [LON:AGY] gets the notable mention, up 16% after the company notified the market that medical trials had reached their primary end point. As the CEO said “This result builds upon the statistical significance also seen in the earlier G3091 field study and, subject to full top line analysis, we look forward to commencing discussions with relevant regulatory authorities to continue our journey to bring this important product to market”.
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Horizonte Minerals [LON:HZM] fell 50% after it updated the market on its Araguaia project. The company is struggling with funding so has slowed construction on the site, and cashflow forecasts suggest that difficult times will lie ahead, although conversations are ongoing to secure additional funding.
Rockfire Resources [LON:ROCK] was in second to last place, down 30% at our 4pm copy time. This extends yesterday’s losses after the planned transformative deal fell through, a process which will have incurred significant costs.