AIM Round-Up: Azonto Petroleum Rises 27.66 Percent

Azonto Petroleum was the top gainer on the AIM this past week. Meanwhile, African Copper saw the biggest loss.

The Alternative Investment Market (AIM) gained 0.19 percent, or 1.47 points, to reach 760.94 points at the end of the week. That is the highest it’s been all year.

Azonto Petroleum (LSE:AZO) rose 27.66 percent on Friday to reach GBP0.30. The oil and gas company has a 30.5-percent interest in the CI-202 block in Cote d’Ivoire through its 35-percent-owned affiliate, Vioco Petroleum. It also has a 25.5-percent interest in the Accra block, which is located offshore Ghana.

In April, the company released its quarterly activities report, revealing that it has made the strategic decision to slim itself down.

African Copper (LSE:ACU) was the biggest faller of the day, dropping 55.56 percent to hit GBP0.10. The copper exploration and production company is focused on its flagship copper-producing, open-pit Mowana mine.

Earlier in the week, African Copper followed up on a previous announcement and reaffirmed its withdrawal from both the AIM and Botswana stock exchanges. The move is an attempt to save money; furthermore, the company’s Thakadu mine is nearing the end of its scheduled mine life.

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mine life gas company