The Conversation (0)
Despite a relatively lackluster market, a number of resource companies recorded strong share price performances this week.
The Alternative Investment Market (AIM) All-Share index (INDEXFTSE:AXX) dropped off this past Wednesday and finished the week down 0.18 percent, at 754.92 points.
Despite a relatively lackluster market, a number of resource companies recorded strong share price performances this week. Jubilee Platinum (LSE:JLP) rose roughly 58 percent to finish at GBP3.80. The company was up about 16 percent on Friday. Jubilee announced plans to sell its non-platinum assets last Thursday, and held a general meeting and live webcast on the news the following Tuesday.
TomCo Energy‘s (LSE:TOM) share price also saw gains this week, rising approximately 40 percent to hit GBP0.255. The company is focused on developing its oil shale leases in Utah’s Uinta Basin. Last Friday, TomCo received its ground water discharge permit and construction permit from the Utah Division of Water Quality. It now has all necessary major permits to bring its Holliday Block into development and production. The company’s share price saw its largest gain on Monday this week.
On the down side, independent oil and gas exploration and production company Ascent Resources (LSE:AST) lost around 23 percent to close the week at GBP0.20. On Friday, the company notified investors of an objection to the award of an integrated pollution prevention and control permit for the gas gathering and separation station for Ascent’s assets in Slovenia. Ascent has not received formal notification of the objection, but stated that with an objection lodged, the permit award will be likely be referred to Slovenia’s Environment Minister for further consideration.
Also losing on the exchange this week was Minera (LSE:MIRL), a Peruvian precious metals mining, development and exploration company. Minera’s share price dropped 31 percent on the AIM to hit GBP3.50. This past Wednesday, the company issued notice of its upcoming annual general meeting and proposed a 10-to-one consolidation of ordinary shares.
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
Related reading:
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
AIM Round-Up: Kodal Minerals Up 22 Percent
AIM Round-Up: Stratex International Rises 20 Percent