The Conversation (0)
AIM Round-Up: Forte Energy Gains 220 Percent on Potential Transactions
Dec. 11, 2015 10:00AM PST
Resource InvestingThe Alternative Investment Market All-Share index was down this week, but Forte Energy was on the rise following news of potential funding discussions.
The Alternative Investment Market (AIM) All-Share index (INDEXFTSE:AXX) fell 1.99 percent this week, steadily dropping to 725.4 points.
However, a number of mining and resource companies still managed to do well this week. Forte Energy (LSE:FTE), an Australia-based uranium junior focused on projects in Guinea and Mauritania, gained a whopping 221 percent to hit GBX0.017 on news of “discussions currently being held with several parties regarding potential corporate transactions and/or porential acquisitions.”
The company advised that negotiations are progressing well, but also stressed that there is no certainty of the discussions leading to a successful transaction.
Amur Minerals (LSE:AMC) was also up for the week, gaining 50 percent to finish at GBX11. The company reported on December 8 that it is in discussions with a potential funding partner for a cash investment of GBP12.5 million.
On the downside, LGO Energy (LSE:LGO) was down 30 percent, to GBX0.29, for the week. On Monday, the Trinidad-focused oil and gas company initiated a formal strategic review of its assets and announced the commencement of an offer period. Nostra Terra Oil and Gas (LSE:NTOG) also lost for the week, falling 24 percent, to GBX0.062
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
Related reading:
AIM Round-Up: Nyota Minerals Rises 54 Percent
AIM Round-Up: Alba Mineral Resources Up 49 Percent
AIM Round-Up: Beowulf Mining Up 59 Percent
AIM Round-Up: Clontarf Energy Up Over 100 Percent
AIM Round-Up: Pantheon Resources Up 82 Percent on Positive Results from VOBM#1