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%.
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%.