Global stock exchanges have experienced a roller coaster ride as fears of a US recession triggered a global sell-off, which has gradually been reversed. The AIM All-Share declined by 0.6% over the week to 766.48, while the FTSE 100 appears poised to end the tumultuous five-day period roughly where it began.
In the UK, the FTSE 100 demonstrated its defensive nature this week, with declines being quickly bought into. Surprisingly, none of the FTSE 100 stocks are more than 10% lower than they were a week ago, and over half have risen in the past five days.
Among the gainers, Chaarat Gold Holdings (AIM: CGH) received shareholder approval to leave AIM on Thursday, with the departure expected on August 16. There will be a matched bargains facility on Asset Match. Despite this, the share price surged 88.9% to 0.255p, having more than doubled at one point, though it remains well below the level seen when the departure plan was announced.
Jaywing PLC (AIM: JWNG), a data sciences specialist, saw its stock rise by 49%, continuing its upward trend despite a recent statement indicating no known reason for the share price increase.
Kazera Global (AIM: KZG) secured loan facilities totalling £500,000 from its two largest shareholders, Richard Jennings and Tracarta Ltd. This funding will cover recent stake increases in diamond miner Deep Blue Minerals and heavy mineral sands miner Whale Head Minerals, and provide working capital. The share price increased by 25% to 0.5p.
Shield Therapeutics PLC (AIM: STX, OTCQX: SHIEF) surged by 32%, doubling its value over the past four trading weeks due to unexpectedly strong US prescription data for its anaemia product.
Natural resources data analyst and provider Getech (LON: GTC) raised £1.5m at 2p per share, with the potential to generate up to £200,000 more from a retail offer. This will strengthen the balance sheet ahead of the planned sale of Nicholson House. The company is reducing its cost base and will invest in its sales and business development teams, as well as in machine learning technology development. The share price rebounded by 22.2% to 2.2p.
Immunodiagnostics developer Oncimmune (LON: ONC) secured a significant new contract worth at least $1.5m with one of the top ten global pharma companies. The contract will be delivered over the next six months, with most revenues expected in 2025. Oncimmune earned the contract by demonstrating its ability to reliably profile IgE in blood serum, potentially moving into profitability in 2025. The share price increased by 11.6% to 12p.
Oncimmune Holdings PLC (AIM: ONC) was one of Friday’s notable risers, ending the week with a solid 24% increase, driven by securing a $1.5 million contract that positions it towards profitability next year.
Revolution Bars (LON: RBG) has received court approval for its restructuring plan, which allows for the closure of certain bars and rent reductions for others, leaving 65 bars and pubs in operation. This restructuring is expected to improve annualized EBITDA by £3.8m. As a result, the share price rose 18.2% to 1.3p.
Tan Delta Systems (AIM: TAND) has entered into a product agreement with an engine manufacturer to develop a sensor for monitoring coolants and water-based hydraulic solutions. The initial value of the agreement is £200,000, with the potential to rise to £2m. Consequently, the share price climbed 10% to 16.5p.
FALLERS
Hummingbird Resources (AIM: HUM) reported that second-quarter gold production at Yanfolila was 12,000 ounces, significantly lower than forecast due to a change in the mine plan and lower grades. In contrast, production at Kouroussa exceeded expectations and continues to ramp up. Despite all-in costs being $2,598 per ounce—higher than the selling price—the full-year cost is expected to be below $1,500 per ounce.
The company maintains full-year production guidance of 115,000-145,000 ounces, with Yanfolila’s output expected to be lower than anticipated and Kouroussa’s revised upward to 50,000-70,000 ounces. Additionally, a $10 million loan has been secured, and discussions on deferring debt repayments are underway. The share price fell 20.6% to 6.75p.
UK Oil & Gas PLC (AIM: UKOG) saw its share price drop by 21% after completing a £1.25 million fundraiser to support its hydrogen storage initiatives. The company capitalized on a strong share price, which is up around 200% over the past month.
Future Metals (AIM: FME) announced that executive chair Patrick Walta is transitioning to a part-time role, reducing his salary from $30,000 per month to $5,000 per month. The company will continue to focus its exploration program on main drilling targets and evaluate the potential of the Panton PGM project. The share price declined by 8.33% to 0.825p.
Oil and gas company Bowleven (LON: BLVN) announced plans to leave AIM, with 58.3% shareholder Crown Ocean Capital offering shareholders the opportunity to sell shares at 0.225p each until September 11. This offer is contingent on the AIM departure being approved at a general meeting on August 28. Management believes that going private will provide the company with greater flexibility and cost savings. The share price dropped 10% to 0.225p.
On Thursday Hermes Pacific Investments (LON: HPAC) announced it plans to exit AIM, causing its share price to drop by 23.8% to 40p. Initially focused on financial services investments in Southeast Asia, the company struggled to find suitable opportunities and shifted to property investment in 2022, acquiring only one property to date. With a low free float, the shares are trading at a significant discount to the September 2023 NAV of 147p per share.
