AIM Round-Up: Kibo Mining Rises 25 Percent

The Alternative Investment Market (AIM) All-Share index (INDEXFTSE:AXX) climbed 5 points on Friday to close at 749.82 points. However, the index lost 1.85 percent, or 14 points, for the week overall. Following uncertainty surrounding the Greek debt crisis a week prior, stock markets around the world were rocked this week as markets in China continued to fall.
Here’s a look at the top AIM-listed risers and fallers from the resource sector this week.
Tanzania-focused Kibo Mining (LSE:KIBO) was the top gainer for the week, rising 25 percent to hit GBP4.88. The diversified exploration and development company has a number of projects in Tanzania, including its Lake Victoria and Morogoro gold projects, its Pinewood coal and uranium project and a thermal coal project near Mbeya. At the beginning of July, the company held its AGM and released a shareholder operational update for Q2. However, there was no news to explain the rise in the company’s share price this week.
Also seeing gains in the resource sector was Noricum Gold (LSE:NMG), an exploration and development company focused on its Rotgulden and Schonberg gold projects in South-Central Austria. Noricum’s share price rose just under 18 percent this week to reach GBP0.20. The company has not put out any news as of late that would explain that increase.
Looking at the top fallers on the AIM this past week, Forte Energy (LSE:FTE), an Australia-based uranium company focused on Guinea and Mauritania, lost 23 percent to close at GBP0.05. Shares of Europa Oil and Gas (Holdings) (LSE:EOG) also fell 22 percent to close at GBP6.13. Europa is an oil and gas exploration and production company with offshore exploration assets in Ireland and France, and an interest in three onshore producing assets in the UK.
 
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article. 
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