AIM-listed Haydale (HAYD) is really scraping the barrel – this morning it announced a grant of £73,610 to be shares between it and Liquitherm Technologies from the Welsh Government, and we don’t even know the proportions!
AIM-listed Atalaya Mining (ATYM) announced on Friday a number of historical related party transactions. Oopsadaisie! The company is planning to move to the main market shortly and my suspicion is that the issues were identified as part of that process. The good news is that it has come clean.
Gold closed the week at $2,072 – a new all-time high on a daily basis. It also put in new monthly and weekly highs this week. It was a significant week and chartists will, no doubt, be salivating – particularly at the apparent completion of a massive 12-year cup-and-handle pattern, a highly bullish pattern which promises much more to come. If you are a chartist….
AIM-listed biotech Scancell (SCLP) announced a placing after hours yesterday – at 5.03pm, no-one-is-watching o’clock. The plan was to raise £6 million at 11p per share. This morning it was announced it had raised £10.6 million – well done, Scancell. Who could have known?
AIM-listed Gold producer in Turkey Ariana Resources (AAU) has announced drilling results from its potential blockbuster at Salinbas this morning. Whilst there remains much work to do, the numbers went down well with Mr Market, with the shares up by 9% (a big rise for Ariana).
AIM-listed (at least for now) Trafalgar Property (TRAF) sits on death row at the moment. Its shares were suspended 2nd October as it couldn’t produce accounts to 31 March 2023, there has been nothing from the company since –and even in the suspension announcement there was no indication of when the (again awful, one presumes) numbers might appear. On Friday, the FTSE Russell indexes announced it was being deleted from the AIM All-Share Index, along with four others.
Gold closed the week above $2,000 at $2,003 as yet another attempt at clearing the psychological resistance is ongoing. Chartists will, no doubt, be getting very excited, with the end-of-month closing on Thursday as end-of-month closes are apparently more significant. But will it last?
It was, if memory serves me correctly, Peter Lynch who coined the term “diworsification” in his book One Up On Wall Street. The concept was simple – you have a good product, a good operation and are making money, so why diversify into something else and mess up an otherwise good company?
AIM-listed Gold producer in Turkey Ariana Resources (AAU) updated the market this morning on its Asgard Metals Fund. Asgard is a small play by Ariana aimed at taking stakes in high-impact (it is hoped!) mining projects, offering technical expertise along the way.