AIM Round-Up: Karelian Diamond Up 26 Percent on Possible New Kimberlite Source

The Alternative Investment Market rose 12.47 points or 1.84 percent to 688.76 points on Friday. Stocks across Europe rose on Friday as investors hoped the European Central Bank would soon increase its easing measures. Furthermore, the latest U.S. economic data was positive, according to Reuters. Oil also rose from its four-year lows, bolstering energy companies.

“It’s been a very lively week, but it seems a bit calmer today,” Alvin Tan, an FX market strategist at Societe Generale in London, told Reuters. “People are hoping to hear some soothing words from policymakers and it wouldn’t be surprising to hear some dovish comments … and that kind of rhetoric would certainly help settle markets.”

Among the resource stocks that did well on Friday was Karelian Diamond Resources (LSE:KDR), an exploration and development company that rose 26.92 percent to trade at GBP0.16. On Thursday, Karelian released sample test results indicating a possible new kimberlite source at its Riihivaara project in Findland. Karelian chairman, professor Richard Conroy, said, “[w]e have for some time been following up the diamondiferous kimberlitic indicator mineral trains that we have discovered on our Riihivaara target. We now appear to be getting very close to or immediately over the source.”

Energy producer Leni Gas and Oil (LSE:LGO) also rose 23.02 percent to trade at GBP4.28, while oil and gas company Range Resources (LSE:RRL) rose 22.22 percent to GBP0.88.

No resource companies made it into the top fallers list on the AIM today.