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Home » Regular Columns » AIM Round-up » AIM Market ‘Straight Take Five’: Valirx to see positive breakthrough?

After a largely uneventful morning, sentiment on the AIM All Share soured mid-afternoon, with the index finally settling down over 13 points at 954.5

  • Kodal Minerals, +46%
  • Orosur Mining +47%
  • Ironveld -31%
  • 7Digital -21%

Biggest AIM fallers

Ironveld sold off during Thursday’s session following a 7am announcement detailing further extensions to a funding option which is being sought from a partner. Whilst there’s a positive in the fact this remains on the table, the deal was originally called in March and this is the second deferral. Shares have reversed all the gains seen at the start of the week.

7Digital was another big faller yesterday, with shares off more than 20% after a discounted fund raise hit the valuation. The company saw its £5m cap raise quickly oversubscribed, but new shares were issued at a knock-down 2.25p. The stock settled at 2.35p.

Biggest AIM risers

Kodal Minerals is back on our radar again, having been Thursday’s second biggest riser. Shares had added 46% by the close, and interest in lithium miners could well accelerate further as speculation builds over what Elon Musk will come up with at his much touted ‘Battery Day’ in two and a half weeks’ time.

Orosur Mining provided an update to the market on its Anza gold exploration project in Colombia. A US company has elected to extend its operating rights on the project triggering further payments to Orosur as a result. Shares closed up 47%.

Honourable mention

Shares in Valirx, the pharma development accelerator, lurched higher again during Thursday’s session. It’s worth bearing in mind that this has been seen before, but a positive breakthrough for the company with a therapy should yield a healthy payout from big Pharma. Having tested a 12 month high mid-session, shares closed up 36%.

This article is not investment advice. Investors should do their own research or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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