Stock Market Watch: #AO. #AMC #GGP #GCM #OMI #UFO

This post was written by Zak Mir, a Technical Analyst, Events Host, Presenter, CEO Interviewer and established Market Commentator

Although Alien Metals (UFO) main claim to fame when it first came to the stock market was its quirky ticker code, things are starting to get serious both in terms of its mining portfolio and the recent share price rise. This has put the market cap at £50m plus, something which can not only attract some serious institutional investors, but allow the company to expand its footprint even beyond the present Mexico and Australian hubs. The latest rise of 50% for the stock has the shares on 1.8p.
Perhaps one of the few stocks which can currently hold a candle to that of the meteoric rise of Alien Metals is Orosur Mining (OMI). Here the shares have risen almost vertically from 5p at the turn of the month to 33p now. The fundamentals behind the rally were underlined in the wake of fully year results for 2020. The company said that during the year ending May 31 2020, its focus has been on continuing its plan to restructure the business, advancing the Anza project in Colombia with regular payments from Newmont Colombia, and finding a solution to its assets in Uruguay for its shareholders.
Shares of GCM Resources (GCM) were in celebration mode, with a 47% rise, as if trying to ignore the time since the previous announcements with regard to NFC in July 2019 and January this year, has really not been a long time to wait. But the good news is that after the MOU, we now see GCM and NFC in a joint venture, with a new entity progressing a framework agreement.
AO World’s (AO.) 30% share price rise seemed to signal that the company is determined to be eventually attain the status of the UK’s Amazon. This point was underlined by some of the highlighted statistics from the company’s half year trading update. This revealed group revenue to be forecast at £715m, a rise of 57% year on year. Perhaps the brightest light in the update was the revelation that sales momentum continued even after competitor bricks and mortar outlets came back out of lockdown. AO World founder John Roberts thanked “AOers” for working “tirelessly” over the period and said,” our mums would be proud of what the AO team is achieving. The stock closed at 302.5p – a five year high, making shareholders as proud as their mothers.
There was an interesting ride for shares of Russia focused nickel-copper sulphide mineral exploration and resource development group Amur Minerals (AMC). Initially the stock dipped with the rest of the London market, but rose to close up 7% by the end of the session after the announcement of management being paid in shares. This was carried out at 2.35p, versus the mid price close of 2.5p.
Shares of punters favourite Greatland Gold (GGP) were on the front foot again, as the stock continues to underline the presence of strong chart support at and just under 20p. Greatland has been in consolidation mode since the announcement last month of a mining lease granted at Havieron, after peaking at 28p. The shares jumped 12% to 22.8p.

Disclaimer

Zakmir.com is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.

Zak Mir

Zak Mir

About Me

Zak Mir is a Technical Analyst, Events Host, Presenter, CEO Interviewer and established Market Commentator. Zak presents the daily Bulletin Board Heroes which can be seen here at Share Talk

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