African Potash topped the list of weekly gainers on the Alternative Investment Market for the second week in a row, with Regency Mines’ share prices also seeing substantial gains.
It was a bit of a bumpy week for the Alternative Investment Market (AIM) All-Share index (INDEXFTSE:AXX). After getting a bit of a bump to 7545 points on Tuesday morning, the index fell sharply to 748 points on Wednesday, finishing the week down 0.44 percent at 749.87.
The index is still up overall for 2015, and a number of resource stocks are seeing gains. African Potash (LSE:AFPO), which was the number one gainer on the AIM two weeks ago, topped the list again this past week. Shares of the company rose nearly 100 percent to GBP1.09. Last week, it announced a “landmark trading agreement” with the Common Market for Eastern and Southern Africa and the Mask Africa Crowd Farm Fund Limited for the creation of a vertically integrated platform for mining. On Wednesday, African Potash reported that the its non-executive directors would accept new ordinary shares in the company.
Regency Mines (LSE:RGM) was also up last week, rising just under 60 percent to GBP0.0664. Shares of the mining company jumped last month when the company stated that it was looking at oil and gas investments in the US, as per Proactive Investors UK. There has been no more new news from the company.
Meanwhile, Lansdowne Oil & Gas (LSE:LOGP) fell 62 percent to GBP3.00. The oil and gas exploration and development company reported disappointing results from its Midleton exploration well in the Celtic Sea on Thursday. The company plans to plug and abandon the well. Providence Resources, another Ireland focused oil and gas company, fell 26 percent to GBP14.24 on the AIM over the past week. The company has a portfolio of appraisal and exploration assets in the UK and Ireland.
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
AIM Round-Up: African Potash Gains 71 Percent on COMESA Agreement
AIM Round-Up: Scotgold Resources Gains 27 Percent
AIM Round-Up: Jubilee Platinum Rises 58 Percent
AIM Round-up: Sirius Minerals Gains on Mine Permit Approval
AIM Round-Up: Connemara Mining Rises 45.45 Percent
AIM Round-Up: Rose Petroleum Up 21 Percent