At 3pm, London’s AIM Index was trading just under two points lower, having rallied from session lows just after the bell, sitting at 953.86.
- Vast Resources +57%
- Clontarf Energy +28%
- Synairgen +27%
- RWS Holdings -18%
- Empire Metals -14%
Vast Resources LON:VAST jumped higher once again today off the back of a financing update. A bond repayment removes conversion rights for a key lender and taking away this overhang is seen as critical in allowing the company’s share price to return to fair value. At 3pm, shares were some 57% ahead.
Clontarf Energy LON:CLON also made it back onto our radar today, adding 28% by copy time. There’s a degree of interest here off the idea that the company is sitting on a potentially significant find, with updates due imminently. We did however see something of a false start for the stock last week, too. Locking in the upside is the big challenge.
A notable mention for Synairgen LON:SNG which advanced 27% today. The company provided a further update on clinical trials of a therapy designed to help with severe viral lung infections including COVID-19, which showed a strong clinical rationale for continuing with the investigation.
RWS Holdings LON:RWS was at the foot of the table by 3pm, shedding 18%. Barings Private Equity Asia fund this morning confirmed it did not intend to proceed with an offer for the business, with management responding to highlight that the approach had been unsolicited and that the current clearly defined strategy sets out a strong future for the business.
Empire Metals LON:EEE also struggled, off 14% at copy time. Assay results released this morning appear to provide cause for optimism and with the company well capitalised after a recent funding round, some may be asking whether the downside pressure seen by the share price in recent weeks is indeed warranted.
