With the market buzzing after a stellar November for the stock, it does not take much to inspire bullishness. The latest dose was provided in the form of a tweet from leading small cap investor Chris Akers who listed his bullish year end targets on a selection of stocks. Beneficiaries by the end of the session were tech investor Asimilar (ASLR) up 7%, Pires (PIRI), up 17% in the wake of this week’s into decentralized finance via its Yop investment, and Dev Clever (DEV) up 8% after recent news of a 20m share subscription at 10p, versus the present 8p stock price.
However, the over-riding winner in the Akers selection was mining investor Gunsynd (GUN), with the shares up 37%. This gain was helped along by the stock being in the run up to the Rincon IPO at the end of next week, in which it is a significant stakeholder. Speaking of stakeholders, Gunsynd itself was the recipient of a new TR1 investor, at 3%, something which added to the gain in the stock during the day.
Having tuned the market to regarding it as a potential COVID-19 play, it was the turn of Vela Technologies (VELA) to mix things up with the announcement of a £200,000 investment into Cornerstone FS. Cornerstone is a cloud-based foreign exchange and international payments company. Shares in Vela managed to edge up 3% on the news.
There was a not an insignificant degree of enthusiasm regarding the start of trading for Helium One (HE1), with traders apparently attempting to pick their entry level in terms of the intraday range between 5.6p to 3.8p. This compared to the company having raised £6m at 2.84p. The driver for the bull argument is centred on Helium’s Rukwa project in Tanzania, which has the potential to be one of the world’s largest. Perhaps equally important is Helium’s use in the Green Revolution we are heading for in coming years. Helium shares closed at 4.25p.
Returning to the fray after a suspension was recent bargain hunter favourite, Rambler Metals (RMM). Perhaps the main aspect to focus on here was the way that the copper and gold play’s proposed note financing of $5m and associated financial rejig had been completed. This effectively returns the company back to a position where it is trading at the bottom of its range within a copper – gold boom, with an enterprise value now said to be just a fraction of what it was a year ago, and investors rating the value building talents of the CEO.
Shares of Ascent Resources (AST) have been in improvement mode all week, ending the session up 14%. Helping underpin the gains for the energy and natural resources company was the announcement of a new £500,000 loan facility. The plus point here is that the deal was designed to minimise shareholder dilution. This news was then capped by a rather handy 5% new TR1 in the name of HSBC Holdings, something which clearly impressed investors in terms of driving the stock higher.
As if to provide its bears with a little pre-festive season frustration, shares of inventory monetisation play Supply@Me Capital (SYME) rose 9%. This came in the wake of the trading update served up at the start of the week in which the company said that it had progressed with all three of its funding channels. In addition, the securitisation phase was said to be near completion, while the Captive Bank project should further support the inventory monetisation of the expansion of the client portfolio.
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