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After a rangebound session, the AIM index came close to finishing in positive territory but lost ground in the last few minutes, closing down by less than half a point at 972.60

  • Vela Technologies up 46%
  • Thor Mining up 30%
  • Bezant Resources down 27%
  • Panthera Resources down 25%
  • Alien Metals down 14%

Vela Technologies [LON:VELA] posted some solid gains through Wednesday’s session, pushing the stock back towards levels seen briefly earlier in September. Today’s news that PayPal will begin to accept crypto payments has been good for the disruptive finance sector and that seems to e driving confidence here.

Thor Mining [LON:THR] was another big riser on Wednesday, adding 30% by the close. The company updated the market on Tuesday with news of its AGM results and cap raise, but it seemed to take the reaction of the Australian market to drive the stock price higher in response. It has a reasonable £17m market cap but trades on around a 10% spread. One to watch in terms of sustaining the upside.

Bezant Resources [LON:BZT] slipped 29% during the session, unwinding more of the recent gains in another day of relatively busy trade. There seems to be a seam of hope running through many mining stocks right now that a brighter outlook awaits but without any official word, this appears to be little more than speculation that a rerating is imminent.

Panthera Resources [LON:PAT] is back on the radar too, posting a 25% loss on the day. The company noted around midday on Tuesday that there was no reason behind the share price moving higher and this appears to have pulled the rug from under the feet of many investors.

Alien Metals [LON:UFO] gets a notable mention today, again with further unwinding of the recent rally being seen. It was certainly a solid run higher in the second half of last week, but in the absence of any reassuring news, profit taking appears to be winning out.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand 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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