“Gold has finally done it. It pushed over $3,000 per ounce—a significant milestone in a rally that began in December 2015. Although it first surpassed $2,000 in August 2020, it pulled back before decisively breaking through that barrier in February last year. Since then, it hasn’t looked back.”
On Friday afternoon, the price dipped slightly to around $2,989 as investors took profits from the recent gains. Morrison explained, “It takes time for traders to get comfortable trading in uncharted territory.” Investor demand for gold tends to surge during uncertain times, as it is viewed as a safe haven.
The AIM All-Share extended its decline, falling 1.4% to 683.19. Down 5.6% year-to-date, it is nearing levels last seen at the onset of the pandemic, when markets braced for the worst amid impending lockdowns.
One to watch: Northern Star Resources, Australia’s second-largest gold miner, saw its valuation soar to over £15 billion, with its share price rising nearly tenfold between 2014 and 2019; Shaun Day served as CFO. Now leading AIM-listed Greatland Gold (GGP), Day is steering the company toward significant growth, with its share price expected to climb this year and beyond.
Six years ago, Greatland Gold discovered Havieron—one of the most exciting gold projects in recent times, boasting a total resource of over 7 million ounces of gold, plus a significant copper deposit. Currently trading at 9.59p per share, the company holds a £1.2 billion market valuation. With major plans ahead, including an ASX cross-listing set for Q2 2025, strong financial backing with £71.9 million in cash, and zero debt, Greatland Gold is one to watch closely this year.
Microcap tech fund capAI PLC (CPAI) surged 230%, offering a rare bright spot amid the market downturn. British-American inventor and Silicon Valley entrepreneur Ronjon Nag has been appointed executive director. Founder of deep-tech fund R42, Nag brings strong connections to Stanford, MIT, and Cambridge. With compensation tied to the company’s share price performance, he demonstrated confidence in capAI by investing £50,000 in its latest funding round—investors seem to share his optimism.
A surge in trading activity for GCM Resources (GCM) has increased the share price to 2.86p, doubling its value. This marks the highest trading levels seen in nearly a year. Plus, the past 5 days
CMO Group (CMO) is seeking shareholder approval at a general meeting on 17 March to delist from AIM. Following the announcement, its share price surged 65.56% to 2.50p.
Xtract Resources (XTR) announced the completion of three drill holes at the Silverking project, which is part of an option and joint venture agreement with Oval Mining. Under the deal, Xtract can earn up to a 70% stake in the Zambian copper mine. Drilling efforts are ongoing to define the morphology of the main pipe-like structure. The share price jumped 57.29% this week.
Shares in European Metals Holdings (EMH) continue to climb following the 7 March announcement that its Cinovec lithium project has been designated a strategic deposit by Czech authorities, streamlining the permitting process. The share price surged another 50% to 9.75p.
Cora Gold Ltd (CORA) surged 28% after Mali’s government partially lifted its mining permit freeze. This decision paves the way for companies like Cora to restart stalled projects, including its flagship Sanankoro Gold Project.
SIMEC Atlantis Energy (SAE) has secured a capacity contract for the AW1 120MW BESS project at Uskmouth, Wales. The agreement guarantees £60/KWh for 15 years in exchange for providing a reliable electricity supply, bolstering the project’s funding prospects. Following the news, the share price rose 12.2% to 2.3p.
FALLERS
Among the week’s fallers, Thruvision Group (THRU), a specialist in AI-powered threat detection, found itself in an unusual situation, issuing an unexpected trading update after its share price plummeted earlier in the week. The announcement helped trigger a 23.08% rebound on Friday, but overall, the stock remained down 60% over the past five days.
Synairgen (SNG) is seeking shareholder approval to delist from AIM, less than two months after TFG Asset Management invested £18m at 2p per share. A related fundraising fell short of the minimum required to reduce TFG’s investment. The general meeting is set for 28 March, with the delisting expected on 9 April. Following the announcement, the share price plunged 57.4% to 0.85p.
Ethernity Networks (ENET) is raising £88,750 at 0.05p per share, following news that it has invoiced $890,000 from a $1.05 million contract with a U.S. aerospace system products provider. The contract will be extended by an additional $290,000, with further revenues expected in the second half of the year. Despite this, the share price dropped 41.4% to 0.0425p.
Shares in Hornby PLC (HRN) were derailed after the model railway maker announced plans to leave AIM, joining the growing number of companies exiting London’s junior market. Many firms have departed AIM over the past 15 months, citing poor liquidity, limited access to capital, and high listing costs. The share price declined 30% to 14p.
