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AIM round-up: UK SPAC, Wishbone Gold, Finsbury Food Group


Despite making hard work of the day, London’s AIM Index managed to tack on a few points worth of gains by the closing bell, finishing up three at 1252.17.

  • UK SPAC +21%
  • Wishbone Gold +20%
  • Revolution Bars -28%
  • Kodal Minerals -13%
  • Finsbury Food Group +8%

UK SPAC [LON:SPC] was the day’s best performer, adding 21% in thin trade. The gains may have been bolstered by news that the company has applied for a secondary listing on AQSE and with the exchange having said it will only admit SPACs in very select circumstances, pushing this through would have the potential to offer a solid endorsement.

Wishbone Gold [LON:WSBN] added 20% by the bell, with the share price rallying off the back of an announcement that tomorrow will see findings of the company’s Halo project in Australia being presented. There’s the potential that this could include some meaningful direction for the business, whose stock has been rising steadily since the start of the month.

A notable mention for Finsbury Food Group [LON:FIF], who were sitting 8% higher by 4.30pm with investors inspired by today’s trading update. This included news of a profit upgrade for the full year, along with notification that dividend payments would be reinstated.

At the other end of the table it was Revolution Bars [LON:RBG] which was left looking worse for wear, some 28% down at the bell. That can be explained away by the dilution effect of the cap raise which was confirmed this morning and arguably the fact that the shares weren’t off slightly more can be taken as a positive.

Kodal Minerals [LON:KOD] slumped 13% on the day. The stock saw marked gains at the start of the month but has been under some sustained selling pressure over the last week off the back of political uncertainty in Mali. The wide spread being quoted here may be exacerbating the situation, but with much of the upside off that expected Lithium project now having been eroded, if you can look beyond the political uncertainty, there may be some potential…

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

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