The AIM market’s major risers and falls over the past week.
It was a wild week across the AIM market, liquidity looks to be on the rise. KEFI Minerals gained nearly 30% over Thursday and Friday with the news that the government announces a surprise truce with TPLF and the Ethiopian government.
Baron Oil continued to attack investors’ attention and jumped 33% on the close of Friday’s trading.
Argo Blockchain closed on a positive note this week after a turbulent month, gaining some ground back with a circular 10% clime, sounds a small steep, but over the past month, the share price has lost two-thirds of its value.
Atlantic Lithium also rose as its Ewoyaa lithium Project in Ghana continues to impress.
Recent drilling revealed the highest-graded metals as they filled in the holes on the main deposit. Intercepts from exploratory holes farther away were also positive.
The news brought shares up 20%, making it a 66% increase this year. Broker Liberum reiterated its buy rating of 46p and set a target price of 47.4p. This was quickly exceeded by the stock market.
Angus Energy Twitter account must be the winner this past week, communication is first class, yet investors are still stinging on the side-line, waiting to make a move. The company is already in production, and the side track drill prep is well underway, something has to give. The current share price is sitting around 1.9p, this will be one to revisit in the near future.
Caspian Sunrise had a strong close the week after updating the market on operations, the creation of a new oil trading division and the declaration of the Company’s maiden dividend with the share hitting a 4.04p high, gaining over 40% on Friday.
4GLOBAL‘s datahub offering, which is being used by the Kingdom’s newest football clubs and venues, is gaining popularity as the sporting world focuses on Qatar for the 2022 World Cup.
The shares in the data group rose 6.7% to 62.5p during the last five days after it announced two Middle East meaty contracts.
AIM-quoted company provides a technology stack that includes a variety of dashboards and tools.
A huge number of data points are combined to give actionable insights to governments, cities and federations as well as private and public activity providers. They provide insight into how people’s activity habits change following a major event.
4GLOBAL has increased its reach through a partnership with EuropeActive in the last few months, but it was all about the Middle East this week.
Eco Atlantic Oil & Gas sprung to life as investors waited on the next set of drill results, the SP turned blue this week and all eyes will be on the next RNS release.
Colin Kinley, Co-founder and Chief Operating Officer of Eco Atlantic, commented: “We are entering an exciting and busy period of drilling and work programmes and we look forward to updating the market, our partners and all stakeholders on our progress and the Gazania-1 exploration well results.”
AIM had a mixed week, however. The All-Share Index, a junior market index, jumped Tuesday but then corrected in the second half of the week. However, it rallied again.
It was 0.5% higher at 813.7 on Friday, compared with a 1.3% increase for the All-Share index.
Jadestone Energy, an oil and gas company, rallied 14% towards 78p after BP’s acquisition of the North West Shelf of Western Australia’s coast.
Libertine Holdings recovered meanwhile after a large dip in Monday’s trading session.
On Thursday, a trading update noted that the engineering services company delivered £600,000 in commercial revenue during the first half of the current year.
Libertine also has partnered with an Italian engine manufacturer to develop smaller, more powerful Linear Generator products that use renewable fuels. Steven ended the week with shares at around 15p.
Longboat Energy was among the losers after it’s North Sea-focused oil company suffered a 40% drop in market value.
The results of the Oswig condensate discovery off Norway’s coast did not impress investors.
Helge Hammer, the chief executive, stated that Longboat was pleased to have discovered the Oswig well. However, this statement is pragmatic.
Deepverge holders have had a nightmare lately, the stock has lost over 70% of its value in the past month, not unexpected, the guillotine arrived this week for the board members and it was brutal.
Gerard Brandon has stepped down as Chief Executive, Dr Nigel Burton is interim Chief Executive while the Company commences the search for a new Group Chief Executive. Camillus Glover has left the board, however, remains as Chief Financial Officer while the Company commences the search for a new Group Finance Director.
Enwell Energy, another AIM-quoted oil and gas group, saw its shares drop on Friday after being dealt another adverse ruling in Ukrainian legal proceedings in respect of its Svystunivsko-Chervonolutskyi (SC) exploration licence. Shares traded at 22.7p on Friday and were 19% lower throughout the week.
On a closing note, Share talk has started to cover a newly listed company whose intentions are to list on the AIM sooner rather than later.
Marula Mining (AQSE: MARU), an African-focused mining investment company, update on current activities at the Kinusi Copper Project, in Tanzania (“Kinusi”). Kinusi is a high-grade copper project that the Board believes has the potential to be developed into a significant copper project, producing copper concentrate for sale in the international markets.
Jason Brewer, Marula Mining PLC CEO is flying into London next week and we will be talking to him about the company’s short-term aims and what the future holds for shareholders.
