London’s AIM index slipped again on Wednesday with investors eyeing the Fed meeting minutes due for release later – but clearly expecting little slack to be offered. Approaching 4pm the junior index was off just over three points at 749.63.
- Zinnwald Lithium +30%
- Bushveld Minerals +28%
- 88 Energy +25%
- Shield Therapeutics -51%
- Tomco Energy -44%
Heading into the close and Zinnwald Lithium LON:ZNWD was at the top of the board, up 30%. The company issued some significantly revised resource updates for its project in Saxony this morning which has clearly piqued the interest of investors.
Bushveld Minerals LON:BMN was in second place in late afternoon trade, up 28%. That said there’s no news here and the swing was seen off a relatively small volume of trades, with the spread being quoted at around 16% heading into the close. There’s a funding situation ongoing as noted in the market update from last week, but do today’s gains suggest a brighter outlook?
88 Energy [LON:88E] gets the notable mention, up 25% heading into the close. The company advised a couple of days ago that test results from its Hickory-1 well were imminent, but it was suggested that further updates here wouldn’t be seen until next week at the earliest.
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Shield Therapeutics LON:STX was the biggest faller, off 51% at copy time. Unaudited full year results out this morning saw the company revising previously offered guidance and caution that it needed to manage cashflow. Investors evidently saw a red flag here…
Tomco Energy LON:TOM was in second to last place heading into the close. The company undertook a deeply discounted fundraise, knocking the share price some 44% lower as a result, but this is a minnow of a company worth £1.5m. Nothing much to see here.
