During the five-day trading period, the AIM All-Share Index experienced a 1.4% decline, settling at 739.4p, likely affected by the unexpected rise in Wednesday’s inflation figures.
In December 2023, year-on-year inflation saw an unforeseen increase to 4%, up from November’s near two-year low of 3.9%, exceeding the anticipated 3.8%.
This marked the first escalation in the inflation rate in ten months, with the most significant upward push stemming from the alcohol and tobacco sectors.
However, the FTSE 100 Index, representing blue-chip stocks, endured a greater downturn than the junior market, dropping 1.8% to 7,488 by the end of the week.
Strategic Minerals plc (AIM: SML) emerged as the top performer on the AIM market this week.
The company’s shares surged by nearly 80% following a new 30,000-tonne iron ore order from the largest client of its Cobre tailings operation in New Mexico. This order marks a significant rebound, as this customer had ceased purchases in 2023, impacting SML’s annual deliveries. The new contract is 50% larger than any previous orders from this client, promising a substantial boost to this year’s cash flows.
Additionally, SML announced ongoing negotiations with another potential client for a deal of comparable size, with more details expected upon reaching an agreement.
Thor Energy PLC (AIM: THR, OTCQB: THORF, ASX: THR) also had a successful week, with shares climbing 53%. This rise was fueled by a spike in uranium prices, now at 16-year highs, and encouraging results from its high-grade uranium exploration in Colorado at the Wedding Bell and Radium Mountain projects.
EQTEC PLC (AIM: EQT), gaining traction in the sustainable aviation fuel industry, was another notable riser. The company’s new joint venture with CompactGTL, focusing on converting waste to liquid fuel using EQTEC’s syngas technology and CompactGTL’s gas-to-liquid conversion process, caught investors’ attention.
In the realm of advanced technology, e-Therapeutics plc (AIM: ETX) reported significant advancements in developing RNAi drug targets using AI, despite the challenging economic environment. The company is exploring potential partnerships and preparing for more clinical trials of its drug candidates, leading to a 24% increase in its shares.
Other significant risers in heavy industries included Harvest Minerals Ltd (AIM: HMI, OTC: HMIFF) with a 27% increase, Mosman Oil & Gas Ltd (AIM: MSMN) up 24%, and Great Western Mining Corp plc (AIM: GWMO) rising 21%.
Conversely, Big Technologies PLC (AIM: BIG) experienced a 37% drop due to the impending conclusion of a major Colombian prisoner tagging contract. Versarien saw a 51% decline, attributed to a technical markdown following a £400,000 share placement.
Bango PLC (AIM: BGO, OTCQX: BGOPF), despite a 62% revenue increase to $46.1 million (£36.3 million) and securing nine new contracts for its Digital Vending Machine (DVM), saw its shares fall 40%. This was due to its earnings slightly missing City forecasts. However, Bango’s management remains optimistic about the DVM’s potential to become a universal standard for distributing subscription products through indirect channels like telcos.
IQGeo Group PLC (AIM: IQG) had a reason to celebrate this week, as revealed in their Monday trading update: the company achieved its first year of positive cash flow.
As a provider of software to the telecommunications and networking industries, IQGeo demonstrated strong performance across the board. This success was bolstered by strategic acquisitions and a dedicated customer base, leading to a 66% surge in total revenues, reaching £44 million, and gross profit margins of 60%.
The company anticipates reporting an exit annual recurring revenue (ARR) of £21.1 million, marking an impressive increase of nearly 50% on a constant currency basis. Additionally, IQGeo maintained a net retention rate of approximately 132% among its growing clientele, which now encompasses leading telecom and utility operators.
